(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Nov. 18, 2024 (GLOBE NEWSWIRE) -- The "Autonomous Cranes market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The autonomous crane market is estimated to reach US$11.092 billion in 2029 from US$5.965 billion in 2024 at a CAGR of 13.21%.
Autonomous cranes are heavy machines that lift material, load, and unload without requiring human intervention. They showcase the modern technological concept for heavy industrial applications and are equipped with advanced features such as zoning, remote configuration, and anti-collision. With rapid economic growth and investment to bolster industrial productivity, these sectors are witnessing positive expansion, boosting the demand for autonomous cranes.
Moreover, the ongoing effort to bolster industrial automation has increased the applicability of AI and IoT in heavy machines, which is acting as an additional factor for market growth. However, the complexities during machine manufacturing, coupled with a lack of technical know-how among workers, have negatively impacted the usage of autonomous cranes. Likewise, the volatility in raw materials prices will also hamper the overall market expansion.
Autonomous Cranes Market Drivers:
Growing applicability in offshore has propelled the market growth.
An autonomous crane, unlike traditional cranes, provides additional benefits, such as separating workers from dangerous operations. Mobile cranes can run faster through shorter ramp times and cycles, thereby providing seamless operations. Moving containers from a vessel to an offshore platform requires a lot of precision, and such operations aren't performed in harsh environments.
Autonomous cranes, equipped with onboard cameras and zoning configuration, are ideal for container lifting and handling operations. Various companies are investing in autonomous cranes to increase overall productivity. For instance, in October 2023, PALFINGER formed a joint agreement with Oplift and Aker BP to develop five autonomous offshore cranes that Aker BP will use in its operations.
Autonomous Cranes Market Geographical Outlook:
North America is expected to show significant growth during the given timeframe.
The global market is segmented by geography into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The market in the North American region will witness significant growth and account for a considerable share, fuelled by the rapid industrialization and investment in infrastructure construction in major regional economies, namely the United States and Canada.
Moreover, cargo and offshore operations are also booming in the United States, which is also investing in new automation technologies to increase productivity. For instance, according to the March 2024 report by the U.S. Government Accountability Office, the ten largest ports in the economy have adopted new technological options, including automated rail-mounted gantry cranes that can function 24 hours a day.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 147 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $5.97 billion |
| Forecasted Market Value (USD) by 2029 | $11.09 billion |
| Compound Annual Growth Rate | 13.2% |
| Regions Covered | Global |
Report Coverage:
Historical data & forecasts from 2022 to 2029 Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis Competitive Positioning, Strategies, and Market Share Analysis Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments)
Some of the key companies profiled in this Autonomous Cranes Market report include:
Columbus McKinnon Corporation Konecranes Syracuse VOCA MacGregor Schneider Electric Komatsu Arnikon GEP ANDRITZ
The Autonomous Cranes market is segmented and analyzed as given below:
By Crane Type
By Application
Material Handling Loading & Unloading Others
By End-User
Building and Construction Marine and Offshore Mining and Excavation Others
By Geography
North America South America Europe United Kingdom Germany France Spain Others
Middle East and Africa Saudi Arabia UAE Israel Others
Asia Pacific Japan China India South Korea Indonesia Thailand Others
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