The latest market report published by Credence Research, Inc. “Global Construction Robots Market: Growth, Future Prospects, and Competitive Analysis, 2023 – 2030”. The Global Construction Robots Market generated revenue of around USD 119.2 million in 2022 and is anticipated to grow a CAGR of over 25.3% during the forecast period from 2023 to 2030 to reach around USD 578 million in 2030.
Construction companies are increasingly focused on reducing the waste of construction resources and materials during all construction activities, driving the adoption of construction robots. Construction is one of the industries where a large amount of material is wasted due to the traditional construction process. The main factors driving the move to robot use in the construction industry are increasing productivity, quality and worker safety, and global urbanization. Additionally, using robotics in the construction industry eliminates and reduces the risk of human error and conflict. Robots are useful for operating in hazardous environments and can improve productivity. This is an added benefit for users. The main advantage of using construction robots in construction activities is to save time and improve accuracy, accuracy and efficiency, resulting in greater economic benefits. Hadrian X can be seen as a good example of such robotic technology. An automated masonry machine that can build the walls of a house by calculating the materials and movements needed without supervision. Additionally, the construction industry is investing heavily in robotic machinery.
The global Construction Robots Market is bifurcated into Type, Application, End-User, and Geography. Based on the type, the market is categorized into Demolition, Bricklaying, 3D Printing, and Other Types (Exoskeletons and Masonry). On the basis of application, the global market is segmented into Public Infrastructure, Commercial and Residential Buildings, and Other Applications. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
A major factor in expanding the construction robotics business in the North American region has been the high unemployment rate and the need for more competent personnel in the United States. Although manual labor has always been a significant and vital component of contemporary building, technology and robotics have rapidly advanced. Robots are making it possible for humans to work autonomously for the first time. This element is anticipated to propel the North American regional market.
Construction Robots Market Major Challenges are multifaceted and complex, ranging from technical hurdles to economic barriers. One of the most significant challenges is the high cost associated with developing and deploying construction robots. The research and development process for these machines involves a considerable investment of time, money, and resources, which can be a major deterrent for smaller companies looking to enter the market.
Some of the key factors driving the growth of the construction robots market worldwide include:
- Increased demand for productivity and efficiency: The construction industry is facing increasing pressure to improve productivity and efficiency to meet growing demand and improve profitability. Construction robots can help to optimize processes, increase precision and accuracy, and reduce labor costs, thereby improving productivity and efficiency.
- Advancements in robotics technology: With advancements in robotics technology, robots are becoming more advanced, adaptable, and capable of performing complex tasks. Construction robots can perform tasks such as bricklaying, welding, and demolition, which were previously performed by humans, thereby improving safety and efficiency.
- Shortage of skilled labor: The construction industry is facing a shortage of skilled labor, which is driving the demand for construction robots. Robots can perform tasks that require skilled labor, such as concrete pouring and steel fixing, without the need for human workers.
- Increase in infrastructure development: The global infrastructure sector is growing rapidly, with increased investment in infrastructure projects worldwide. Construction robots can help to optimize infrastructure development, reducing costs and improving efficiency.
- Need for safety and sustainability: Construction robots can help to improve safety on construction sites by performing dangerous tasks, reducing the risk of accidents and injuries. In addition, robots can also help to improve sustainability by reducing waste and energy consumption.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global Construction Robots Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2018-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape like how the key players in the market are operating at a global, regional, and country level
- In-depth global Construction Robots Market segmentation analysis based on type, and application.
- Major countries in each region with their import/export statistics
- The global Construction Robots Market report also includes analysing of the global, regional, and country levels, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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