Global Construction Robotics Market Is Estimated To Record a CAGR of Around 21.68% During The Forecast Period
Evolve Business Intelligence has published a research report on the Global Construction Robotics Market, 2022–2033. The global Construction Robotics market is projected to exhibit a CAGR of around 21.68% during the forecast period of 2022 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Construction Robotics Market: Beijing Borui Intelligent Control Technology Co. Ltd, Branch Technology, Brokk Group, Built Robotics Inc, Conjet, Construction Robotics, Kewazo, Fastbrick Robotics, Fujita, Yingchuang Building Technique Co. Ltd.
Market Highlights
The global Construction Robotics market is projected to be valued at USD 14.71 Billion by 2030, recording a CAGR of around 21.68% during the forecast period. Construction robotics is the application of robotics and automation technologies in the field of construction to improve the efficiency, safety, and productivity of construction projects. This involves the use of robots, drones, and other automated machinery to perform tasks such as bricklaying, welding, demolition, excavation, and other labor-intensive activities. The technology is designed to reduce the need for manual labor and to enhance the quality and precision of construction work. It has the potential to revolutionize the construction industry by reducing costs, improving safety, and increasing the speed of construction projects.
The market for construction robotics was negatively impacted by the pandemic. The global supply chain was hampered, resulting in delays and shortages of crucial parts and supplies required for construction robots. Construction robot demand was impacted as a result of project cancellations and delays. Further reducing the market for construction robots was the pandemic’s requirement that several construction sites either close or operate at reduced capacity. The pandemic-induced economic downturn also resulted in a fall in building activity, which lowered the need for construction robots.
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Segmental Analysis
The global Construction Robotics market has been segmented based on Type, Automation, Function, Application, and region.
By Type, the Construction Robotics market is segmented based on Traditional robots, Robotic arms, and exoskeletons. Robotic arms are expected to have the largest market share throughout the forecast period, while exoskeletons are expected to grow at the fastest rate.
Based on Automation, the Construction Robotics market is segmented based on Fully Autonomous, Semi-Autonomous. The Fully Autonomous is anticipated to dominate the market.
Based on Automation, the global Construction Robotics market has been divided into Demolition, Bricklaying, 3d Printing, Concrete Structural Erection, Finishing Work, Doors And Windows Installation, and Others. Demolition is anticipated to dominate the market.
Based on Automation, the global Construction Robotics market has been divided into Public Infrastructure, Commercial and Residential Buildings, Nuclear Dismantling and Demolition, and Others. Public Infrastructure is anticipated to dominate the market.
Regional Analysis
The Construction Robotics market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America has been at the forefront of the development and adoption of construction robotics, with many startups and established companies offering innovative solutions. Europe has also been a strong market for construction robotics, particularly in countries like Germany, France, and the U.K. Asia-Pacific, on the other hand, has seen significant growth in recent years, driven by the increasing demand for construction projects and a growing population. Latin America, the Middle East, and Africa are also emerging markets for construction robotics, with significant potential for growth in the coming years.
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