Market Synopsis:
Advent of advanced technology is aiding the construction industry for developing automated solutions to optimize the construction process. Construction robots are a step towards complete automation of building and construction industry. Market Research Future (MRFR) has published a research report asserting that the global Construction Robot Market is marked to expand remarkably at a CAGR of 17% during the forecast period of 2018-2023 and reach the valuation of USD 165 Mn by the end of the forecast period.
Increasing adoption of automation in mining and construction industries in various developed and developing regions and rapid technological advancement are majorly propelling the growth of the global construction robot market. Current developments in 3D printing technology and utilization of artificial intelligence technology in construction robots in order to minimize the errors caused by human interference are fueling the growth of the global construction robot market. However, concerns regarding loss of employment of human workforce and low penetration of advanced technology in the underdeveloped regions are restraining the growth of the global construction robot market during the forecast period.
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Global Construction Robot Market Segmentation
The global construction robot market has been broadly segmented in terms of design, automation, function, and vertical.
- By the mode of design, the market is comprised of traditional robot, robotic arm, exoskeleton.
- By the mode of automation, the market is segmented into fully autonomous and semi-autonomous.
- By the mode of function, the market comprises of demolition, bricklaying, 3D printing, concrete structural erection, finishing work, doors and windows installation and others.
- By the mode of vertical, this market is comprised of public infrastructure, commercial and residential buildings, nuclear dismantling and demolition, and road and tunnel construction.
Key Players
The prominent players in the market of Global Construction robot are – Brokk AB (Sweden), Husqvarna (Sweden), Esko Bionics (U.S.), Komatsu (Japan), Conjet AB (Sweden), TopTec Spezialmaschinen GmbH (Germany), Construction Robotics (U.S.) Fastbrick Robotics (Australia), Autonomous Solutions (US), Apis Cor (Russia), nLink (Norway), Yingchuang Building Technique Co. (WinSun) (China), Advanced Construction Robotics (US), MX3D (Netherlands), CyBe Construction (Netherlands), Cyberdyne (Japan), Giant Hydraulic Tech (China), Alpine Sales and Rental (US) and Beijing Borui Intelligent Control Technology (China).
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
Regional Outlook
The geographical analysis of global construction robot market is studied under regions of North America, Europe, Asia-Pacific, and the rest of the world.
Currently, the Asia-Pacific region is leading the global construction robot market owing to the implementation of automation in mining and construction industries in Australia, China, India, Malaysia, and Vietnam. Other than these, Japan is known to be a pioneer region in the application of robots, as it has been implementing robots in construction activities since the 1980s.
Whereas, the European construction robot market is expected to proliferate due to the increasing demand for construction and demolition robots in various facilities. Also, there is an expanding number of government regulations and growth in residential and non-residential construction projects, which is leading the construction market to expands exponentially.
Construction robot market is also expected to attain sustainable growth in North America during the forecast period due to the scarcity of skilled labor, need for waste reduction, precision, and efficiency in production, increased safety, and use of drones on construction sites.
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Intended Audience
- Global Construction robot Providers
- Raw material suppliers
- Original Equipment Manufacturers (OEMs)
- Technology providers
- Solutions providers
- Intellectual property license providers
- Government and regulatory bodies
- Research institutes and organizations
- Construction robots distributors
- Technology Investors
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