Autonomous Cranes Market Growth 2023- Rising Trend, Growing CAGR, Key Manufacturers, Business Opportunities, Research by Business Analysis and Future Outlook Report 2033: SPER Market Research
Autonomous cranes are advanced mechanical equipment equipped with smart technology like artificial intelligence and machine vision for material handling. They offer benefits like collision prevention and operational efficiency. This emerging technology is currently in development, with many companies working on tailoring it to meet specific user needs. These cranes can be controlled from a central location, ensuring safety and comfort for operators.
According to SPER market research, ‘Autonomous Cranes Market Size- By Material Type, By Product Type, By Package Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Autonomous Cranes Market is predicted to reach USD 47.64 billion by 2033 with a CAGR of 24.92%.
Demand for automated crane solutions is expected to rise from heavy equipment service providers, infrastructure developers, and governments due to their operational efficiency and enhanced safety features. Automated cranes are currently in early development stages and are typically customized for specific projects through contracts and agreements with end-users. These contracts outline specific requirements and often entail long-term business relationships. Market players are increasingly focusing on securing such contracts to compete globally. Additionally, the growing demand for renewable energy sources like wind turbines creates opportunities for autonomous mobile cranes, especially in confined construction sites. High torque rugged terrain and off-road navigation capabilities also make these cranes attractive in construction and mining. These factors are driving the future growth of the automated crane industry.
However, manufacturing firms have faced the challenges of hiring skilled workers at higher wages due to increased labour costs driven by high demand. This labour shortage has led to employee burnout and job dissatisfaction due to understaffing. Additionally, the industrial landscape is changing with the adoption of smart technology-driven cranes, like autonomous and fully automated variants, which require skilled, trained personnel to operate effectively. Moreover, the initial investment for deploying automated cranes, particularly those incorporating advanced technologies like computer vision and machine learning, is substantial, further impeding market expansion. These factors are expected to constrain global market growth.
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Impact of COVID-19 on Global Autonomous Cranes Market
In addition, the COVID-19 pandemic had a rapid global spread and significant effects on the automated crane market. Lockdowns were imposed worldwide, necessitating remote work for many industry players. The pandemic accelerated the adoption of automated technologies to reduce human contact in industrial settings, supporting market growth. However, lockdowns disrupted supply chains, affecting automated crane production and creating a demand-supply gap. Despite these challenges, certain regions maintained opportunities for automated cranes, particularly in essential sectors like mining. Overall, the pandemic had a substantial impact on the global economy and the construction industry’s revenue.
Global Autonomous Cranes Market Key Players:
Geographically, North America is poised to lead the market, driven by marketing analytics tools and established key players. Government agencies, businesses, and third-party suppliers are focusing on customer-centric products to fuel regional growth. Asia-Pacific, with its growing population and urbanization, is expected to see increased demand. Europe is also projected to experience a rise in demand, especially in construction and transport upgrades. Additionally, some of the market key players are AIDrivers Ltd, Cargotec Corporation, Columbus McKinnon, SMIE, Syracuse, VOCA, including others.
Global Autonomous Cranes Market Segmentation:
By Mobility: Based on the Mobility, Global Autonomous Cranes Market is segmented as; Mobile, Static.
By Business Type: Based on the Business Type, Global Autonomous Cranes Market is segmented as; Aftermarket, OEM.
By End-User: Based on the End-User, Global Autonomous Cranes Market is segmented as; Building & Construction, Marine & Offshore, Mining & Excavation.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Autonomous Cranes Market Business Opportunities
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