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$ 21.6 Billion by the year 2032.
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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Deployment of the autonomous crane at the line of work is found to significantly decrease human errors along with workplace-related injuries. The need for autonomous crane machines is expanding as they assist reduce costs, speed up production, and ultimately increase efficiency. However, it is projected that the surging need for smart and intelligent cranes in the real estate, geology & excavation, maritime transport, and manufacturing industries would support the market’s growth globally.
Since cranes are widely employed in the construction business, sales of automated cranes on the global market are anticipated to rise as well. Additionally, the need for autonomous mobile cranes is anticipated to increase as a result of evolving infrastructure sector requirements, such as increased safety and pleasant experience for the workers.
Moreover, to operate autonomous cranes effectively, skilled personnel are needed which poses a major challenge to the autonomous crane market opportunities. Contrarily, committing to long-term business agreements through contracts and pacts is anticipated to present the autonomous crane market participants with fruitful expansion opportunities.
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.
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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.
Key Segments
By Vehicle Type:
- Static
- Mobile
By Business Type:
- OEM
- Aftermarket
- Others
By End User Verticals:
- Building & Construction
- Marine & Offshore
- Mining & Excavation
- Others
Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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