Autonomous Cranes Market: Global Industry Analysis and Forecast (2024-2030)

Autonomous Cranes Market Definition:

Autonomous cranes are mechanical equipment with wire ropes, sheaves, or chain hoists that use advanced technology software and hardware for material handling applications such as artificial intelligence (AI) and machine vision. Autonomous cranes are next-generation solutions for lifting and moving large items that provide many advantages like accident prevention, time-saving, and operation efficiency. Autonomous cranes are in their early stages of development, and the majority of players are focused on Cranes Type development to meet the needs of customers. Autonomous cranes can be operated from the control room, allowing the operators to keep a close eye on the crane’s activity and maintain a high level of safety and comfort.  

 

Further, the Autonomous Cranes Market is segmented by Crane Type, End-Use, Business Type, and geography. Based on Crane type, the Autonomous Cranes Market is segmented under Static and Mobile. Based on the End-Use, the Autonomous Cranes Market is segmented under the Building & Construction, Marine & Offshore, and Mining & Excavation. Based on the Business Type, the Autonomous Cranes Market is segmented under the OEM and Aftermarket. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

To get more Insights: Request Free Sample Report

 

Autonomous Cranes Market Dynamics:

Growing Focus on Public-Private Partnerships (PPPs):

 

 The absence of government funding in an underdeveloped country is expected to hamper infrastructure development. The increasing urbanization helps in the construction of infrastructure development. Lack of financial resources and efficient ways to mobilize resources for development create infrastructure gaps. Public-Private Partnerships have provided private funding for infrastructure development in various countries.

 

According to the study released by the Asian Development Bank (ADB) and the Korea Development Institute in January 2019, there are roughly 6400 PPP infrastructure projects with at least 20% private ownership in the infrastructure database. PPPs are extensively scattered across Asia, with 70% in South Asia and East Asia, with China and India accounting for 90% of the total. The Infrastructure sector is a large consumer of cranes. So, the industry’s growth is expected to create demand for cranes. The changing requirements in the infrastructure sectors for safety and operational efficiency are expected to increase the demand for automatic cranes and lead the market growth.

 

Increasing Construction and Renovation Activities:

 

Heavy equipment service providers, infrastructure developers, governments, and others are expected to generate demand for Autonomous crane solutions owing to their operational effectiveness the greater safety. The Autonomous cranes are designed to sign contracts and order Cranes Type lines that are manufactured in small quantities. The contract and agreements between end-user and Autonomous crane developers are expected to implement the planned Autonomous cranes. These agreements provide a list of requirements that must be met within a specific time. These contracts and agreements also have the potential for long-term business with end-users. Industry participants have focused on securing contracts and agreements to complete across the world.

 

Scarcity of Skilled Cranes Operators:

 

Manufacturing companies hire workers at higher wages because of the high demand for skilled labor and rising labor cost. The organization is severely understaffed, which results in overwork and job unhappiness among team members. As smart technology-enabled cranes such as autonomous and fully autonomous cranes become more common, the demand for skilled and educated workers is anticipated to rise. These techniques require skilled workers to operate Autonomous cranes effectively.

 

High Cost of Autonomous Cranes:

 

The initial cost of using Autonomous cranes is very high. Advanced technology such as computer vision, machine learning, the internet of things, and natural language processing technology for Autonomous cranes requires a significant initial investment. All these factors are hindering the growth of this market. The growth of the gas and oil sector around the world is supporting the development of Autonomous cranes. This segment provides opportunities for growth during the forecast period.

 

Autonomous Cranes Market Segment Analysis:

By Crane Type, the Static crane had dominated the market, accounting for more than 55% of the sale in 2023. During the forecast period, an autonomous fixed crane is expected to grow at a rate of 24.1%. The growth of the static crane can be attributed to the increased adoption of fixed cranes in the maritime and offshore, mining and excavation, and construction sectors. Fixed cranes provide greater lifting capacity at higher heights. The mobile crane segment is expected to become the fastest-growing sector of the market during the forecast period because of the increasing demand for mobile crane services in the construction sector, mining, and drilling industries.

 

 

 By End-Use, the building and construction segment held the largest market share in 2023, accounting for 37.40% of the total market. The construction industry has grown significantly in the last few years. The demand for various cranes is constantly increasing because residential and non-residential construction has achieved strong growth in emerging and developed countries. The marine and offshore segment had a significant share of 25.83% in 2023 and is expected to grow during the forecast period because of the high utilization of static cranes in the offshore sector. The mining & excavation segment is expected to grow at a CAGR of 25.4% during the forecast period. The demand for autonomous mobile cranes is anticipated to increase in the mining and excavation sector.

 

Autonomous Cranes Market Regional Insights:

North America has dominated the market and is expected to witness significant growth at a CAGR of 25% during the forecast period and reach USD 5.48 billion by 2028. The factors attributing to the growth of the region are marketing analytics tools and the important existing player who have built a strong market position and helped the company grow. Government organizations, corporations, and third-party suppliers are putting up an effort to generate a customer-focused Cranes Type that helps the region for its growth. Increase in demand, revenue, updated technology, machinery, and programs that raise awareness help the industry in North America to develop significantly.

 

The Asia Pacific is expected to grow at a rate of 25% because of the rapidly growing population. The demand is anticipated to rise during the forecast period because of the gain in GDP per capita and infrastructure development, the region has become more industrialized, transforming rural into urban centers. During the forecast period, Europe is expected to boost demand for Autonomous cranes. During the forecast period, the European market is anticipated to grow at a CAGR of 25%, owing to the growth in the number of construction projects in Europe.

 

Autonomous Cranes Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide Cranes Type portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Autonomous Cranes Market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Autonomous Cranes Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Autonomous Cranes Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Autonomous Cranes Market report is to help understand which market segments and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Autonomous Cranes Market. The report studies factors such as company size, market share, market growth, revenue, production, volume, and profits of the key players in the Global Autonomous Cranes Market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their Cranes Type quality is in the Global Autonomous Cranes Market. The report also analyses if the Global Autonomous Cranes Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Autonomous Cranes Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Autonomous Cranes Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Autonomous Cranes Market is aided by legal factors.

 

Autonomous Cranes Market Scope:

 

Autonomous Cranes Market
Market Size in 2023	USD 5.18 Bn.
Market Size in 2030	USD 24.32 Bn.
CAGR (2024-2030)	24.7%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Crane Type Static Mobile
	By End-Use Building & Construction Marine & Offshore Mining & Excavation
	By Business Type OEM Aftermarket
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Autonomous Cranes Market Key Players: 

• AlDrivers Ltd
• Cargotec Corportion
• Columbus McKinnon
• Intsite Ltd.
• Komatsu Ltd.
• Konecranes Plc
• Schneider Electric
• SMIE
• Syracuse
• VOCA