Construction Robot Market is Witness to See Revolutionary Growth in Decade
Construction robots are semi, or fully autonomous robots designed to improve the speed and quality of construction work. The construction industry is one of the least automated industries that features manual-intensive labor as a primary source of productivity. However, with the advancement in technology, the construction industry is utilizing robots to excel at repetitive tasks in a controlled environment. Various robots have been used to ensure better productivity and quality. Demolition robots have been used to safely and precisely demolish any structure compared to the manual process.
According to AllTheResearch, “Construction robot market was valued at USD 231.5 million in 2018 and is expected to reach USD 464.8 million by 2026, growing at a CAGR of 9.5% during the forecast period.”
With the rapid advancement in technology and high demand for construction works, the construction industry is facing challenges such as a shortage of skilled labor, the inadequacy of resources, and the convergence of requisite technologies. These challenges have increased the demand for construction robot market. A construction robot plays a significant role in automating solutions and in delivering cost-effective operations. These robots have helped in automating laborious and dangerous tasks to keep laborers away from hazardous activities and thus, enable them to focus on more productive work.
These technologies have exerted a positive impact on operational cost-savings by decreasing labor costs and increasing uptime. The recent adoption of robotic technology is changing the way the industry creates homes, buildings, and other infrastructure. The growing construction industry is a major factor that will drive the demand for the construction robot market during the forecast period. However, high cost is associated with the deployment of robotic solutions and this factor is hampering the growth of the construction robot market. But the evolution of 3D printing in the construction industry is expected to create ample opportunities during the forecast period.
Construction Robot Market Segmentation
By Product Type
- Traditional Robot
- Robotic ARM
- Exoskeleton
By Automation
- Semi-Autonomous
- Fully Autonomous
By Function
- Bricklaying Robot
- 3D Printing and Contour Crafting Robot
- Demolition Robot
- Inspection Robot
- Welding Robot
- Roadwork Robots
- Others
By Application
- Public Infrastructure
- Commercial and Industrial Infrastructure
- Residential Buildings
Asia Pacific region is expected to grow at the highest CAGR throughout the forecast period.
Europe held a major share of the construction robot market in 2018. However, the Asia Pacific region is expected to grow at a rapid pace owing to the presence of abundant natural resources like minerals, ores, among others, in countries like China, India, Australia, Malaysia, and other Asian countries. These countries carry out mining and construction activities to extract natural resources in the region. The construction industry of the region has started adopting construction robots for site inspection and for speeding up construction activities on site.
Company Profiles and Competitive Intelligence Covered in the Construction Robot Market are:
The major players operating in the global construction robot market are Construction Robotics, Brokk AB, Ekso Bionics Holdings Inc., CyBe Construction, Conjet AB, TopTec Spezialmaschinen GmbH, Fastbrick Robotics, Autonomous Solutions, Inc., Advanced Construction Robotics, and Giant Hydraulic Tech, among others.
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