The global autonomous crane market net worth is estimated to be around US$ 3,028.7 Million in 2022 and is anticipated to register at a CAGR of 21.7% from 2022 to 2032. As per the report, the overall valuation of the autonomous crane market is expected to reach up to US$ 21,585.7 Million by the year 2032.
It has been discovered that placing an autonomous crane in the work area greatly reduces both worker injuries and human mistake. As they help cut costs, speed up production, and eventually boost efficiency, the demand for autonomous crane equipment is rising. The real estate, geology & excavation, maritime transport, and manufacturing industries are predicted to see a surge in demand for smart and intelligent cranes, which will boost the market’s expansion internationally.
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Sales of automated cranes are expected to increase due to the widespread use of cranes in the construction industry. The demand for autonomous mobile cranes is also predicted to rise as a result of changing infrastructure sector requirements, such as improved worker safety and comfort.
Additionally, competent workers are required to operate autonomous cranes successfully, which presents a significant hurdle to the market potential for these machines. The participants in the autonomous crane market, on the other hand, are predicted to benefit from favorable expansion chances by entering into long-term business relationships through contracts and pacts.
Key Takeaways from the Autonomous Crane Market Study
- As per the autonomous crane market report of 2022, the total revenue share occupied by the static crane sector was nearly 30.5%.
- Due to the rising demand for autonomous crane services in the building and construction sector as well as the mining and excavation industry, the mobile crane segment is anticipated to develop at the quickest rate during the forecast years.
- Over the forecast years, the autonomous crane market segment dedicated to mining and excavation end-user verticals is anticipated to post a strong CAGR of 25%.
- Asia Pacific autonomous crane market is expected to register a CAGR of 24.7% due to its constantly expanding industrial sector in all emerging economies.
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Competitive Landscape for the Autonomous Crane Market
AIDrivers Ltd., Cargotec Corporation, Columbus McKinnon, INTSITE Ltd., Komatsu Ltd., Konecranes Plc, Schneider Electric, SMIE, Syracuse, and VOCA are a few of the major companies profiled in this research report.
Recent developments in the Autonomous Crane Industry
A rising number of AEC firms have begun to adopt high-end technologies such as automation and ML for optimizing their processes and creating autonomous engine cranes, like INTSITE Ltd., a Tel Aviv-based firm. To illustrate, INTSITE Ltd. revealed in 2018 that it received a US$ 1.35 Mn pre-seed investment from Terra Venture Partners as well as the Israel Innovation Authority to finance their autonomous small crane technology. To increase the security and efficiency at the construction sites, INTSITE has also planned to utilize the funding to further improve its platform, which employs image processing techniques to analyze real-time feeds from camera sensors.
Additionally, at the Aker Solutions Unmanned Demo Day in the year 2019, an autonomous engine crane guidance system created by Aker BP and Optilift AS was exhibited to businesses and the public. The technology is made so that a truck crane may handle freight logistics entirely on its own. This autonomous crane controlling system aims to let a crane dump and reload cargo from delivery cruise lines to stations without any assistance from the crew on deck.
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Key Segments
By Vehicle Type:
- Static
- Mobile
By Business Type:
- OEM
- Aftermarket
- Others
By End User Verticals:
- Building & Construction
- Marine & Offshore
- Mining & Excavation
- Others
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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