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Construction Robots Market Demand, Share, Analysis and Forecast to 2019-2024

According to the latest report by IMARC Group, titled “Construction Robots Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global construction robots market size reached US$ 78.6 Billion in 2018. Construction robots refer to professional service robots that are presently used in the construction of new buildings for substituting manual labor. These robots are gaining widespread preference in the construction sector for performing reliable tasks, such as positioning, bricklaying, tiling, demolishing and tunneling. Apart from this, they can perform repetitive tasks efficiently with enhanced safety, accuracy and precision. Their deployment at construction sites has also led to the elimination of human errors and the potential risks related to accidents and injuries when working in dark, airless and hazardous environments. Advanced robots are now being used to reduce the construction time, which has resulted in improved productivity and a significant reduction in the overall operational costs.

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Global Construction Robots Market Trends:

The market is primarily driven by a significant increase in construction activities across the globe. The construction of new residential spaces, coupled with substantial infrastructural development, has catalyzed the demand for high-quality building services. Furthermore, shifting preference toward green construction is acting as another major growth-inducing factor. Robots are increasingly being employed in these projects to accelerate on-site execution, along with enhanced precision and quality work. Additionally, a shortage of skilled labor force has contributed to the gradual shift to automation in the construction industry. Associated advantages such as lower operational costs as compared to manual labor have influenced builders and architects to utilize robots at construction sites. Moreover, the emergence of collaborative robots (cobots) is also gaining widespread preference in the sector. Cobots are being added to the labor workforce as they collaborate with humans, instead of completely replacing the manual force, to optimize the building process. The introduction of 3D printing robots and wearable exoskeletons is another factor that is expected to create a positive outlook for the market. Looking forward, the market is projected to reach a value of US$ 186.6 Billion by 2024, expanding at a CAGR of 15.5% during 2019-2024.

Market Summary:

  • On the basis of the type, the market has been divided into traditional robots, robotic arms and exoskeletons.
  • Based on the automation, the market has been bifurcated into fully autonomous and semi-autonomous segments.
  • On the basis of the function, the market has been categorized into demolition, bricklaying, 3D printing, concrete structural erection, finishing work, doors and windows, and others.
  • Based on the application, the market has been segregated into public infrastructure, commercial and residential buildings, nuclear dismantling and demolition, and others.
  • On the geographical front, the market has been classified into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been studied in the report, with the detailed profiles of the key players operating in the market. Some of them include Brokk AB, Husqvarna AB, Komatsu Ltd., Ekso Bionics Europe GmbH, Fujita Corporation, Conjet AB, Giant Hydraulic Tech Co., Ltd., Automated Precision, Inc., Alpine Sales and Rental Corporation, CyBe Construction BV, MX3D BV, Construction Robotics, Fastbrick Robotics Ltd, and TopTec Spezialmaschinen GmbH.

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IMARC

IMARC

IMARC is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.