Autonomous Cranes Market
Growth in inclination toward high-end safety of construction and industrial workers and growing penetration of smart technologies
WILMINGTON, NEW CASTLE, DE, UNITED STATES, October 15, 2024 /EINPresswire.com/ — The global 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%.
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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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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.
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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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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David Correa
Allied Market Research
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