In a recent published report, Kenneth Research has updated the market report for Construction Robot Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Construction Robot Market products.
The global market for construction robots is estimated to reach a market value of USD 165 million by 2023 growing at a 17% CAGR during the forecast period 2018–2023.In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Keyword market over the period 2019-2026.
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Market synopsis
The construction industry is embracing automation for commercial construction, renovation, and demolition which is leading the way for construction robots. Construction takes place in a disorganized environment and can pose various threats to workers. Construction robots offer various advantages like improvement in safety, quality, and productivity. Many types of construction robots are ready to break into the construction market to perform various construction related activities and tasks. A 3D-printing robot is used for designing prototypes for buildings and 3D models for bridges which simplifies the construction of complex design structure and allows construction companies to save time and costs.
Moreover, the combination of 3D printing and industrial robots proves to be the growing trend in the construction industry. With the drive to improve operational efficiency on construction sites, the adoption of autonomous construction vehicles like bulldozers, tractors, cranes, and excavators is gaining momentum. Other construction robots for brick-laying and masonry enhance speed and quality of construction work. Demolition robots are another type of construction robots which are gaining popularity in the mainstream applications for demolishing concrete and structural components of a building at the end of its life cycle.
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Advancements in industrial robotics have resulted in implementation on UAV (unmanned aerial vehicles) in the construction industry which is also known as drones. UAVs are mostly used for health and safety inspections, site surveying, capturing accurate data for large sites, and accessing hazardous zones. Exoskeleton products are also expected to impact the global construction industry. Exoskeletons include wearable mechanical suits which are worn outside the clothing by the workers to help with the lifting of heavy equipment, machinery, and supplies. These suits are designed to augment human capacity and overcome physical weaknesses and assist the workers in their tasks. According to a study, around 40 companies are manufacturing exoskeletons worldwide to deploy them on their respective construction sites.
Growth in skyscrapers and mixed-use building projects, adoption of automation by construction companies, and lack of workforce in the developed countries are some of the factors driving the growth of the global construction robot market. However, high initial costs and reluctance to adopt robotic solutions and automation by construction companies due to high investments in R&D are some of the challenges for the global construction market.
Segmentation
By design type, the market is segmented into traditional robot, robotic arm, exoskeleton.By automation, the market is segmented into fully autonomous and semi-autonomous.By function, the market is segmented into demolition, bricklaying, 3D printing, concrete structural erection, finishing work, doors and windows installation and others.
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By vertical, the market is segmented into public infrastructure, commercial and residential buildings, nuclear dismantling and demolition, and others (road and tunnel construction).
Regional analysis
The global market for global construction robot is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of user activity monitoring market is studied for North America, Europe, Asia-Pacific, and the rest of the world.
At present, Asia-Pacific region is dominating the global construction robot market due to the adoption of automation in mining and construction industries in countries like Australia, China, India, Malaysia, and Vietnam. Moreover, Japan is a pioneer in the application of robots as it has been implementing automation in construction activities since 1980s. European construction robot market is expected to grow due to the increasing demand for construction and demolition robots in various facilities, increasing number of government regulations, and growth in residential and non-residential construction projects.
Also, construction robot market is expected to attain sustainable growth in North America during the forecast period due to shortage of skilled labor, need for cost and waste reduction, need for precision and efficiency in production, increased worker safety, and use of drones on construction sites.
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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.
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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