Through the course of the forecast years, the Europe autonomous crane market is projected to register 25.5% CAGR through 2032. This essentially is predicted to be aided by an increase in the number of building and industrial projects in the countries of Germany, the UK, France, Spain, and others.
Growing focus on the establishment and growth of renewable energy sources, such as wind turbines, is anticipated to create many new opportunities for autonomous mobile cranes. These profit from having a small footprint because they are relatively small, which makes them easy to use on confined building sites. The use of autonomous cranes has grown considerably in European economies.
The global autonomous crane market share 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.
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An autonomous crane is a type of crane that can operate without human intervention or with minimal human input. These cranes are equipped with advanced technologies such as sensors, cameras, and artificial intelligence algorithms that allow them to sense their environment and perform complex tasks autonomously.
Autonomous cranes are becoming increasingly popular in the construction and manufacturing industries. They offer several benefits, including increased safety, productivity, and efficiency. Autonomous cranes can operate in hazardous environments, such as construction sites or industrial plants, without putting human workers at risk. They can also operate around the clock, without the need for breaks, improving productivity and efficiency.
The demand for autonomous cranes is expected to grow in the future, driven by the increasing need for automation and the adoption of Industry 4.0 technologies. The construction industry is also experiencing a shortage of skilled workers, which is driving the adoption of autonomous cranes and other automated construction equipment.
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.
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
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By Business Type:
- OEM
- Aftermarket
- Others
By End User Verticals:
- Building & Construction
- Marine & Offshore
- Mining & Excavation
- Others
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