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Autonomous Cranes Market
By business type, the aftermarket segment is expected to register significant growth during the forecast period.
WILMINGTON, NEW CASTLE, DE, UNITED STATES, November 28, 2024 /EINPresswire / -- The Autonomous Cranes
market report offers a detailed analysis of changing market trends, top segments, key
investment pockets, value chain, regional landscape, and competitive scenario. Growth in inclination toward high-end safety of
construction and industrial workers and growing penetration of smart technologies, such as AI, in the field of equipment are the crucial factors for the global autonomous cranes market. Moreover, the building & construction segment is anticipated to create lucrative growth opportunities for the autonomous cranes market, owing to growing adoption of high-end technology at the construction sites and increasing concern toward workplace safety. Increasing development activities of smart port enabled with autonomous cranes are expected to create a significant opportunity in the global market.
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The global Autonomous Cranes Market is expected to be valued at $2.37 billion in 2022, and is projected to reach $18.62 billion by 2032, registering a CAGR of 22.8%. North America is projected to be the highest revenue contributor, accounting for $1.21 billion in 2022, and is estimated to reach $9.03 billion by 2032, with a CAGR of 22.5%. Asia-Pacific is estimated to reach $6.94 billion by 2032 at a significant CAGR of 24.7%.
Based on business type, the aftermarket segment would contribute the highest share in 2022, accounting for more than two-thirds of the total share, and is estimated to maintain its lead position during the forecast period. Moreover, this segment is projected to witness the highest CAGR of 23.9% from 2023 to 2032. The research also analyzes the OEM segment.
Focus on public-private partnerships (PPPs) and rise in penetration of smart technology in crane drive the growth of the global autonomous crane market. However, fluctuations in prices of raw materials and scarcity of skilled workers hinder the market growth. On the other hand, surge in agreements and contracts for long-term business collaborations present new opportunities in the coming years.
The key players profiled in this report include
CARGOTEC CORPORATION,
SMIE,
INTSITE Ltd.,
AIDRIVERS LTD,
KONECRANES PLC,
COLUMBUS MCKINNON CORPORATION,
Syracuse,
SCHNEIDER ELECTRIC,
VOCA,
KOMATSU LTD
North America is expected to be dominant in the global autonomous cranes market size in which the U.S. is expected to be a leading consumer country in the market during the forecast period. However, Asia-Pacific is expected to witness a leading growth rate in the global market, owing to growing number of infrastructural projects. Japan and China are expected to witness as emerging countries in the autonomous cranes market, owing to changing port automation outlook in the region. The global autonomous cranes market is expected to be a fairly consolidated market with limited number of players holding majority of the market share in the global market. Majority of the market participants are strategically involved in business expansion, partnership, acquisition, and product development activities.
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Based on end user vertical, the building and construction segment is projected to account for the largest share in 2022, holding more than two-fifths of the global autonomous crane market. In addition, this segment is expected to register the fastest CAGR of 24.2% from 2023 to 2032. The report also discusses segments including marine & offshore, mining & excavation, and others.
The global autonomous cranes market is expected to witness significant growth , owing to adoption of autonomous cranes in various applications such as building & construction, marine & offshore, mining & excavation and increase in trend of AI based equipment solutions. In addition, trained and skilled labor is required for operation of the autonomous cranes as it is associated with complicated configurations, along with set of critical function handling. In addition, building and construction is a leading consumer of the autonomous crane solutions. It is expected to hold a leading market share in the global autonomous cranes market.
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Based on region, North America is expected to contribute to the highest share in 2022, accounting for more than half of the total share, and is estimated to continue its lead in terms of revenue by 2032. However, Asia-Pacific is projected to portray the largest CAGR of 24.7% during the forecast period.
KEY FINDINGS OF THE STUDY
By business type, the aftermarket segment is expected to register significant growth during the forecast period.
On the basis of mobility, the mobile segment is projected to lead the global market in terms of market share.
Depending on end user vertical, the building & construction segment is projected to dominate the global market.
North America is expected to be the global leader in the autonomous cranes market in terms of market share.
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