Autonomous Cranes Market Size, Share & Industry Analysis, By Crane Type (Static Crane, Mobile Crane), By End-Use (Building & Construction, Marine & Offshore, Mining & Excavation, and Others), and Regional Forecasts, 2024-2032

The global autonomous cranes market size was valued at USD 5.07 billion in 2023 and is projected to grow from USD 6.30 billion in 2024 to USD 40.9 billion by 2032, exhibiting a CAGR of 26.3% during the forecast period.

Autonomous crane market refers to the segment within the crane industry that involves the development, production, and utilization of cranes equipped with autonomous technology. These cranes are designed to perform lifting, loading, and unloading tasks without requiring direct human intervention or control. Instead, they rely on a variety of advanced technologies such as sensors, artificial intelligence (AI), machine learning, and robotics to operate autonomously.

The autonomous crane market is experiencing significant growth due to advancements in technology and increasing demand for automation across industries. Autonomous cranes are increasingly connected to the Internet of Things (IoT) platforms, enabling remote monitoring, predictive maintenance, and data analytics.             Autonomous cranes are utilized across various industries and applications, including construction, shipping and logistics, manufacturing, mining, and others. They can handle tasks such as loading and unloading cargo at ports, lifting heavy materials on construction sites, and transporting goods in warehouses.

The COVID-19 pandemic has rapidly spread worldwide, impacting the automated crane market. In March 2020, the coronavirus outbreak resulted in lockdowns being enforced in most countries worldwide. Due to restrictions imposed by various governments, industry players have been forced to allow their personnel to work remotely. Over the forecast period, the adoption of automated technologies to reduce human contact in industrial facilities is expected to promote the growth of the global market. During the pandemic, businesses continued operating due to advanced electronics and automated technology, ensuring company continuity and increased production.

Autonomous Cranes Market Trends

Increasing Focus Toward Public-Private Partnerships (PPPs) Fueling the Autonomous Cranes Market Growth

Infrastructural development is hindered by the lack of government funding, mainly in developing nations. Infrastructure development is a crucial factor in increasing urbanization. The lack of financial resources and efficient methods for mobilizing resources for development cause the infrastructure gap. Public-private partnerships (PPPs) have channeled private funding for infrastructure development in various countries. According to research released by the Asian Development Bank (ADB) and the Korea Development Institute in January 2019, private participation in the infrastructure database contains approximately 6,400 PPP infrastructure projects with at least 20% private ownership. PPPs are widely distributed across Asia, including over 70% in South Asia and East Asia, with China and India contributing about 90% of the total.

Furthermore, the infrastructure sector is a big consumer of cranes. Therefore, as the industry grows, it will directly create a demand for cranes. Likewise, changing infrastructure sector requirements, such as more excellent safety and operational efficiency, are expected to fuel the demand for automated cranes, resulting in market growth.

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Autonomous Cranes Market Growth Factors

Increasing Construction And Renovation Activities To Propel Market Growth

Heavy equipment service providers, infrastructure development personnel, the government, and others are projected to create demand for automated crane solutions due to operational effectiveness and increased safety. Furthermore, automated cranes are still in the early stages of development and are made-to-order product lines, often constructed in smaller quantities with signed contracts and agreements. Contracts and agreements between end-users and automated crane developers are expected to implement the automated cranes solution. These contracts provide a list of requirements that must be accomplished within a particular period. Long-term business potential with end-users is also associated with these contracts and agreements. In addition, market players have focused on winning contracts and agreements to compete globally.

The anticipated global demand for construction equipment is a major driving factor for this market. Various government programs and the ever-increasing need for new and upgraded structures are expanding the construction market's possibilities.

Increasing demand for renewable energy sources, such as wind turbines, also presents significant opportunities for autonomous mobile cranes. The advantage of the compact space of autonomous mobile cranes makes it easy to use in tight construction sites. Moreover, high torque rugged terrain cranes and off-road navigation capabilities are in great demand in the construction and mining industries due to these cranes' operational benefits and efficiencies. All these factors are responsible for the growth of the automated cranes business in future.

RESTRAINING FACTORS

Limited Availability of Skilled Crane Operator and High Cost of Autonomous Cranes Inhibiting Market Growth

Manufacturing companies have been forced to hire people at higher wages due to the high demand for skilled workers, increasing labor costs. Organizations are severely understaffed, leading to team member overwork and job dissatisfaction. Moreover, the industrial landscape is evolving as smart technology-enabled cranes, such as autonomous and fully-automated cranes, are used, which is predicted to increase the demand for skilled, trained, and qualified people. To operate automated cranes effectively, these technologies require a skilled workforce.

Furthermore, the initial cost of deploying automated cranes is high. Deploying advanced technologies such as computer vision, machine learning, the Internet of Things (IoT), and natural language processing technologies for automatic cranes requires a significant initial investment. Thus, all such parameters are hindering the growth of this market.

Autonomous Cranes Market Segmentation Analysis

By Crane Type Analysis

Static Crane Holds the Largest Market Share Owing to High Usage in Construction Industry

The market is bifurcated into static and mobile cranes based on crane type.

The static crane segment dominated the market with a revenue share of more than 54.3% in 2023. An autonomous fixed crane is expected to grow at 26.7% during the forecast period. The growth of static cranes is due to the higher adoption of stationary cranes in the maritime & offshore, mining & excavation, and construction sectors. Similarly, a fixed crane provides higher load capacity at greater heights.

The mobile crane segment is expected to emerge as the fastest-growing market segment during the forecast period due to increasing demand for mobile crane services in the construction & building sector and mining & excavation industry. Flexibility and mobility of mobile cranes and lower cost will drive the mobile crane segment market during the forecast period. The mobile crane segment accounted for a 28.0% market share in 2023.

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By End-Use Analysis

Building & Construction Segment Holds the Largest Market Share

This market is divided into building & construction, marine & offshore, mining & excavation, and others based on end-use.

The building & construction segment occupies the largest market share in the market. The segment accounted for 45.4% in 2023. The construction industry has grown enormously over the last few decades. Residential and non-residential construction recorded strong growth in emerging and developed countries. As a result, the demand for various cranes is steadily increasing.

The marine & offshore segment will have high growth in 2023. The marine & offshore segment accounted for a 24.3 % market share in 2023. The segment will show positive change during the forecast period due to the high usage of static cranes in the marine & offshore sector. Moreover, the growth of the oil & gas sector worldwide supports the development of automated cranes. Hence, this segment will offer lucrative growth opportunities in the coming years.

The mining & excavation segment is projected to register a significant CAGR of 26.2% during the forecast period. Demand for autonomous mobile cranes in mining & excavation is expected to rise. The growth of the mining industry in North America is augmenting the development of the market

REGIONAL INSIGHTS

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The market in North America is accounted for USD 1.75 billion in 2023 and is projected to reach USD 14.65 billion by 2032, at a CAGR of 26.7% over the forecast period. North America will lead the market with a revenue share of over 34.5% in 2023. Growth is possible through marketing analytics tools and existing key players who have established a strong position in the market from the beginning. Additionally, government agencies, businesses, and third-party suppliers are mobilizing efforts to produce customer-oriented products that contribute to the region's growth. Increased demand, increased revenue, use of advanced technology, machinery, and programs that promote awareness of needs can significantly boost the market in North America.

APAC is projected to register a CAGR of 26.7% from 2024 to 2032. Asia-Pacific is expected to have higher demand over the forecast period due to its rapidly rising population. The region has been industrialized to a greater extent due to improvements in GDP per capita and infrastructure development, converting rural areas into urban areas. Cities have fallen into unsustainable consumption models due to the unexpected spike in demand. The region is home to the essential players in the Asia Pacific market.

Europe is anticipated to increase automated cranes demand over the projection period. The market in Europe is expected to increase at a CAGR of 26.8% during the forecast period. An increasing number of construction projects in Europe will help drive the Europe market in future. The construction in terms of transport upgrade is also gaining momentum in Europe.

The rest of the world accounted for an 7.6% market share due to low technology adoption. However, it is expected to grow in the future at a CAGR of 20.3%. South Africa and the Middle East will grow steadily. Latin America will increase significantly as small manufacturers seek to capture a significant portion of their demand.

List of Key Companies in Autonomous Cranes Market

Agreements and Contracts with Major Players and Strong Focus on R&D Efforts to Boost Market Share

Several major players dominate the cranes market. These players have benefited from the surge in demand for reliable cranes from the major construction, mining, and industrial sectors. Large companies in the region have invested heavily in researching and developing new products delivering cranes worldwide. Many companies are also actively involved in strengthening their position by focusing on various growth strategies such as M&A, partnerships, and collaborations.

LIST OF KEY COMPANIES PROFILED:

• AIDrivers Ltd (London, England)


• Cargotec Corporation (Helsinki, Finland)


• Columbus McKinnon (Getzville, NY, U.S.)


• INTSITE Ltd. (Haifa, Israel)


• Komatsu Ltd (Tokyo, Japan)


• Konecranes Plc (Hyvinkää, Finland)


• Schneider Electric (Rueil-Malmaison, France)


• SMIE (Virginia, U.S.)


• Syracuse (Syracuse, NY. U.S)


• VOCA (Washington, D.C, U.S.)

KEY INDUSTRY DEVELOPMENTS

• In February 2023, Schneider Electric, Capgemini, and Qualcomm Technologies, Inc. signed a partnership on a first-of-its-kind 5G-enabled automated hoisting solution. The companies have joined efforts on the design and installation of the solution at Schneider Electric’s hoisting lab in Grenoble, France. Replacing wired connections with wireless and unifying existing wireless connections from Schneider Electric’s industrial automation system, the 5G Private Network solution demonstrates how it can simplify and optimize digital technology deployment at scale across industrial sites—from steel plants to ports.


• In April 2023, Columbus McKinnon Corporation announced that the Company had executed a definitive agreement to acquire Montratec GmbH. This leading automation solutions company designs and develops intelligent automation and transport systems for interlinking industrial production and logistics processes. Montreal provides its modular, intelligent monorail transport systems for electric vehicles (EVs), semiconductors, electronics, life sciences, aerospace, and other industries.


• In September 2023, MacGregor developed an autonomous container loading and discharging solution that includes an automated crane operating system and a new container supply chain software program – the Voyage and Container Optimization Platform (VCOP). VCOP informs the crane of the loading and discharge sequence according to the stowage plan.


• June 2021-AIdrivers announced a partnership with Largo Robotics, a Turkish company working on the next generation of autonomous electric vehicles. The supplier of automated cranes will be focusing on the development of electric cranes shortly.

REPORT COVERAGE

The autonomous cranes market research report provides a detailed market analysis. It focuses on crucial aspects such as leading companies, product types, leading product applications, company profiles, and competitive landscape. Besides this, the report offers insights into the key market trends and highlights vital industry developments. In addition to the factors above, the report encompasses several factors contributing to the market growth in recent years.

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