The net worth of the global autonomous crane market is anticipated to be worth around US$ 3,028.7 Million in the current year 2022. According to the autonomous crane market analysis report of FMI, it is expected to reach US$ 21,585.7 Million by 2032 by registering a CAGR of 21.7% through this period.
The high level of convenience and safety that autonomous cranes provide has given them the essential boost for increased market acceptability and sales. Moreover, with the successful application of these machines in many new sectors, such as adoption in defense and military departments, the customer base for the market has greatly increased in the last few years. This can also be attributed to the possible advantages of autonomy in terms of lowering risk and operating expenses.
Additionally, a great majority of industry players are working on developing new products to meet the unique needs of end customers as the autonomous mini crane is getting highly popular day by day for instance, the high torque rough terrain hoist crane is quite popular in the mining and excavation industries because to its operating advantage and efficiency, and distance maneuverability. Also, a fresh generation of portable gantry cranes offers various advantages including time-saving, performance improvement, and accident avoidance that is expected to boost the market trends.
The integration of automation to improve the workplace experience is at an all-time high and in the future years, AI-driven autonomous equipment is expected to rise significantly. Given such prospects of growth, the adoption of autonomous cranes would prove to be a stepping stone for many commercial enterprises and foster the importance of the product in the coming days. Nevertheless, autonomous crane technology is currently in its infancy, and firms working on these frameworks are looking for higher funding and collaborations to help them in this endeavor.
| Attributes | Details |
|---|---|
| Autonomous Crane Market Share (2022) | US$ 2478.5 Million |
| Autonomous Crane Market Size Value (2023) | US$ 3,028.7 Million |
| Autonomous Crane Market Size Value (2032) | US$ 21,585.7 Million |
| Autonomous Crane Market Growth Rate (2023 to 2033) | 21.7% |
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As evident from the previous market reports, the overall market followed a growth rate of nearly 16.4% from 2018 to 2022. The need for reviving the global economy rapidly after the COVID-19 outbreak has increased the spending on infrastructure and core industrial sectors. All the industries that produce heavy machinery and other assets are thought to have benefited from this in turn.
Progress is being made across a range of heavy machinery used on building sites, including electric cranes and mini cranes. In the near future, autonomous cranes are anticipated to see high potential development possibilities across numerous end-user verticals, including transportation, agriculture, manufacturing, oil refineries, and maritime, thanks to improvements in technical knowledge and skills of common people in recent years.
It is projected that real estate firms, the public works department, and many other organizations would boost their purchases of autonomous mobile crane vehicles due to improved operational convenience and greater worker safety. Additionally, the industrial environment is rapidly changing due to the adoption of automation, robotics, and the industrial revolution 4.0. During this period, the deployment of smart technology-enabled cranes, such as fully automated and autonomous mobile cranes, is likely to get popular in the coming days.
The global marketplace for autonomous cranes is anticipated to expand as a result of factors like a shift in emphasis toward PPP models of business and an increase in the adoption of recent technological features in truck-mounted cranes. Additionally, the development of automated cranes is being greatly supported by the expansion of the global oil and gas excavation sectors nowadays.
Unfortunately, the higher initial cost of installing automated truck-mounted cranes is a major restraining factor for the expansion of the market. As a matter of fact, fluctuating raw material costs and a shortage of experienced laborers may impede the growth of the autonomous crane industries.
Autonomous crane-using business sectors have been obliged to recruit individuals at higher rates due to the strong requirement for competent personnel for operation. Consequently, it has increased the hidden costs associated with the product which could limit the adoption of autonomous crane machines in many industries.
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As established by both earlier and the recent market report, by acquiring a sales share of even more than 69.5% in the preceding years, the mobile autonomous crane segment dominated the overall industry. The demand for mobile or truck mounted crane sector is majorly for their flexibility and accessibility at a cheaper cost.
However, during forecast years, the fixed or static crane segment is anticipated to register a growth rate of 24% in comparison to the mobile crane segment. The recent surge in the use of stationary cranes, as it offers increased load capacity at larger heights, mostly in the mining & excavation, marine & vessel loading, and manufacturing industries is what is boosting sales of autonomous cranes of this category.
The particular category of autonomous cranes designed for building and construction activities is the highest-selling segment of all, and in the year 2022, it represented almost 40% of the revenue generated globally. Both developing and established nations have witnessed significant increases in both residential and non-residential building works. As a result, there is a rising trend in demand for different cranes that can be used in this sector.
Contrarily, autonomous cranes designed for the marine and offshore sectors are observed to be experiencing a rapid expansion in recent years. In the previous year, this segment held a market share of more than 25%. Given the extensive deployment of both mobile and static cranes at the harbours and commercial ports around the world, this segment is poised to experience a remarkable growth rate throughout the forecast years. On the other hand, Mining and excavation end-user verticals are predicted to increase the demand for autonomous mobile cranes in light of the increasing crude oil prices.
The USA is anticipated to be the major contributor to the revenue generated by the sales of autonomous cranes globally. As per the recent autonomous crane market analysis report, in this year 2022, it is contributing more than $1.2 Billion and would register a CAGR of 22.5% to attain a market value of US$ 9 Billion by the year 2032.
In the US, the rise of the industrial sector was modest in the preceding years which is figured out to have slowed down the autonomous crane market growth in the region. The expansion of the mining sector in North America is particularly accelerating the USA autonomous crane market expansion.
Through the course of the forecast years, a rise in demand for automated cranes at 25.5% is projected in the Europe market. 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.
The emphasis on the development and establishment of sources of renewable energy like wind turbines is growing, which is also expected to open up a lot of possibilities for autonomous mobile cranes. As these are comparatively small so have the benefit of a small footprint, which makes them simple to utilize on confined building sites the adoption of autonomous cranes in European economies has increased significantly.
As per the estimates of heavy equipment manufacturing companies, the Asia Pacific autonomous crane market is expected to be worth approximately US$ 7 Billion by registering an above-average CAGR of 24.7% in the preceding years. Well over the past three decades, the construction sector in Asia Pacific countries has experienced tremendous growth which has favoured the regional autonomous crane market.
In this regard, the sales of autonomous crane manufactured in Japan has garnered a sharp rise in the domestic as well as adjacent markets. The market in Japan is predicted to build upon these ample regional opportunities and continue its impressive growth trajectory in the upcoming days.
South Korea is anticipated to hold a significant position in the global market for autonomous cranes in the coming days. Due to technological advancement and infrastructural development, South Korea has become more industrialized, emerging as a major exporting country of automotive and industrial assets. So, over the forecast years, autonomous crane manufacturers in the region are envisioned to be the top competitors in the international market.
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Autonomous cranes are still in the development stage and are hoarded at manufacturing plants, which are often constructed in smaller quantities to keep up with commitments and orders in place. These arrangements and partnerships relate to potential long-term commercial relationships with end users making it difficult for new autonomous crane market players to penetrate and establish themselves in the marketplace. In conclusion, to achieve a competitive edge against the established autonomous crane market key players, newly entered market participants must concentrate on securing sufficient contracts and agreements at the initial stages.
The global autonomous crane market is to grow at 21.7% during the forecast period.
The global autonomous crane market is predicted to be valued at US$ 21,585.7 Million by 2032.
The global autonomous crane market was valued at US$ 3028.7 Million in 2022.
The USA accounts for the largest revenue share of the overall market.
The mining & excavation sector is predicted to register the highest CAGR.
1. Executive Summary | Autonomous Crane Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyers
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.9.2. By Key Countries
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Crane Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Crane Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Crane Type, 2023 to 2033
5.3.1. Static Crane
5.3.2. Mobile Crane
5.4. Y-o-Y Growth Trend Analysis By Crane Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Crane Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-Use
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By End-Use, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By End-Use, 2023 to 2033
6.3.1. Building & Construction
6.3.2. Marine & Offshore
6.3.3. Mining & Excavation
6.3.4. Others
6.4. Y-o-Y Growth Trend Analysis By End-Use, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By End-Use, 2023 to 2033
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. Introduction
7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2018 to 2022
7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2023 to 2033
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Market Attractiveness Analysis By Region
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
8.2.1. By Country
8.2.1.1. United States of America
8.2.1.2. Canada
8.2.2. By Crane Type
8.2.3. By End-Use
8.3. Market Attractiveness Analysis
8.3.1. By Country
8.3.2. By Crane Type
8.3.3. By End-Use
8.4. Key Takeaways
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Country
9.2.1.1. Brazil
9.2.1.2. Mexico
9.2.1.3. Rest of Latin America
9.2.2. By Crane Type
9.2.3. By End-Use
9.3. Market Attractiveness Analysis
9.3.1. By Country
9.3.2. By Crane Type
9.3.3. By End-Use
9.4. Key Takeaways
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Country
10.2.1.1. Germany
10.2.1.2.United Kingdom
10.2.1.3. France
10.2.1.4. Spain
10.2.1.5. Italy
10.2.1.6. Rest of Europe
10.2.2. By Crane Type
10.2.3. By End-Use
10.3. Market Attractiveness Analysis
10.3.1. By Country
10.3.2. By Crane Type
10.3.3. By End-Use
10.4. Key Takeaways
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Country
11.2.1.1. China
11.2.1.2. Japan
11.2.1.3. South Korea
11.2.1.4. Singapore
11.2.1.5. Thailand
11.2.1.6. Indonesia
11.2.1.7. Australia
11.2.1.8. New Zealand
11.2.1.9. Rest of Asia Pacific
11.2.2. By Crane Type
11.2.3. By End-Use
11.3. Market Attractiveness Analysis
11.3.1. By Country
11.3.2. By Crane Type
11.3.3. By End-Use
11.4. Key Takeaways
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Country
12.2.1.1. GCC Countries
12.2.1.2. South Africa
12.2.1.3. Israel
12.2.1.4. Rest of MEA
12.2.2. By Crane Type
12.2.3. By End-Use
12.3. Market Attractiveness Analysis
12.3.1. By Country
12.3.2. By Crane Type
12.3.3. By End-Use
12.4. Key Takeaways
13. Key Countries Market Analysis
13.1. United States of America
13.1.1. Pricing Analysis
13.1.2. Market Share Analysis, 2022
13.1.2.1. By Crane Type
13.1.2.2. By End-Use
13.2. Canada
13.2.1. Pricing Analysis
13.2.2. Market Share Analysis, 2022
13.2.2.1. By Crane Type
13.2.2.2. By End-Use
13.3. Brazil
13.3.1. Pricing Analysis
13.3.2. Market Share Analysis, 2022
13.3.2.1. By Crane Type
13.3.2.2. By End-Use
13.4. Mexico
13.4.1. Pricing Analysis
13.4.2. Market Share Analysis, 2022
13.4.2.1. By Crane Type
13.4.2.2. By End-Use
13.5. Germany
13.5.1. Pricing Analysis
13.5.2. Market Share Analysis, 2022
13.5.2.1. By Crane Type
13.5.2.2. By End-Use
13.6. United Kingdom
13.6.1. Pricing Analysis
13.6.2. Market Share Analysis, 2022
13.6.2.1. By Crane Type
13.6.2.2. By End-Use
13.7. France
13.7.1. Pricing Analysis
13.7.2. Market Share Analysis, 2022
13.7.2.1. By Crane Type
13.7.2.2. By End-Use
13.8. Spain
13.8.1. Pricing Analysis
13.8.2. Market Share Analysis, 2022
13.8.2.1. By Crane Type
13.8.2.2. By End-Use
13.9. Italy
13.9.1. Pricing Analysis
13.9.2. Market Share Analysis, 2022
13.9.2.1. By Crane Type
13.9.2.2. By End-Use
13.10. China
13.10.1. Pricing Analysis
13.10.2. Market Share Analysis, 2022
y13.10.2.1. By Crane Type
13.10.2.2. By End-Use
13.11. Japan
13.11.1. Pricing Analysis
13.11.2. Market Share Analysis, 2022
13.11.2.1. By Crane Type
13.11.2.2. By End-Use
13.12. South Korea
13.12.1. Pricing Analysis
13.12.2. Market Share Analysis, 2022
13.12.2.1. By Crane Type
13.12.2.2. By End-Use
13.13. Singapore
13.13.1. Pricing Analysis
13.13.2. Market Share Analysis, 2022
13.13.2.1. By Crane Type
13.13.2.2. By End-Use
13.14. Thailand
13.14.1. Pricing Analysis
13.14.2. Market Share Analysis, 2022
13.14.2.1. By Crane Type
13.14.2.2. By End-Use
13.15. Indonesia
13.15.1. Pricing Analysis
13.15.2. Market Share Analysis, 2022
13.15.2.1. By Crane Type
13.15.2.2. By End-Use
13.16. Australia
13.16.1. Pricing Analysis
13.16.2. Market Share Analysis, 2022
13.16.2.1. By Crane Type
13.16.2.2. By End-Use
13.17. New Zealand
13.17.1. Pricing Analysis
13.17.2. Market Share Analysis, 2022
13.17.2.1. By Crane Type
13.17.2.2. By End-Use
13.18. GCC Countries
13.18.1. Pricing Analysis
13.18.2. Market Share Analysis, 2022
13.18.2.1. By Crane Type
13.18.2.2. By End-Use
13.19. South Africa
13.19.1. Pricing Analysis
13.19.2. Market Share Analysis, 2022
13.19.2.1. By Crane Type
13.19.2.2. By End-Use
13.20. Israel
13.20.1. Pricing Analysis
13.20.2. Market Share Analysis, 2022
13.20.2.1. By Crane Type
13.20.2.2. By End-Use
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Crane Type
14.3.3. By End-Use
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. AiDrivers Ltd
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Cargotec Corporation
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Columbus McKinnon
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. IntSite Ltd
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Komatsu Ltd.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. Konecranes Plc
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Schneider Electric
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. SMIE
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Syracuse
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Voca
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
16. Assumptions & Acronyms Used
17. Research Methodology
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