The global construction robots market size was USD 284.7 million in 2021 and is estimated to reach USD 554.9 million by 2030, registering a CAGR of 8.7% during 2022-2030. The construction industry is one of the major economic sectors globally, contributing to a large part of the global economy. Robotics and automated systems can address the inefficiencies and low productivity in the construction industry. Robots, drones, autonomous vehicles, and 3D printing are used in the construction industry. Construction robots are being used to complete certain tasks, such as bricklaying, painting, loading, and bulldozing. Construction robots and automated systems are complex in design as well as operation. They offer several advantages over manual labor, including improved work quality, reduced labor costs, savings accrued on safety and health improvements, time savings, and productivity improvement. Different types of construction robots such as 3D-printing robots, bricklaying robots, and demolition robots have found their application in the construction market at a mass scale.
Lower labor productivity is increasingly becoming one of the pressing issues in the construction sector. According to the OECD, US Bureau of Labor Statistics, and World Bank, the labor-productivity growth in the construction industry has averaged about 1 percent per year over the past two decades, while the growth for the total world economy is 2.8 percent and 3.6 percent in the manufacturing sector. Moreover, the population of productive age from 15 to 64 years is decreasing and is anticipated to decline further over the next decade. According to the World Bank, 65.57 percent of the total population belonged to productive age in 2015, which declined to 65.25 percent in 2019, and it is anticipated to decline further to 64.65 percent in 2030. This declining population of productive age is expected to create a shortage in labor forces for the construction industry.
Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/construction-robots-market
Global Construction Robots Market Definition
Construction robot refers to the reduction or complete removal of human intervention from main construction automation activities in many applications, such as commercial and residential buildings, public infrastructure, and nuclear dismantling and demolition.
Global Construction Robots Market Covid-19 Impact
The spread of COVID-19 has had serious effects on human health and the global economy. Almost every industry in the world has been affected by the coronavirus pandemic. Decreased income and growing unemployment have led to increasing economic instability in the global economy. Moreover, the revenue of many organizations across the world has declined during the pandemic. Industries including manufacturing, electronics, automotive, construction, and chemicals are some of the seriously affected industries by the COVID-19.
The construction industry has been affected by the spread of coronavirus. The ongoing projects are being halted due to various factors, including supply chain disruption, shortage of subcontractors and supplies, and the termination of contracts to control expenses. Other obstacles regarding contractual obligations, availability of resources, deliverables, health and safety measures, and project delays or cancellations have emerged during the pandemic. Moreover, several governments have ordered that certain businesses stop working during the pandemic as a controlling measure. In few countries, there have been specific orders requiring construction sites to close, or entitling contractors to suspend works and to extend the time until the end of the state of emergency period. This, in turn, is hampering the construction industry and consequently the construction robots market.
Global Construction Robots Market Dynamics
Drivers: Growth in the construction sector due to rapid urbanization
The growing urban population in the developing regions is mainly driving the construction growth in the industry. For instance, as per the United Nations 2030 estimates, the urban population in India is expected to grow by a staggering 165 million by 2030, swelling Delhi by 10.4 million people to become the second densely populated city in the world. Growing urban population leads to expansion of the cities by constructing buildings at the outskirts of cities. Moreover, the growing demand for residential buildings further augments the construction sector. According to the IMF Global Housing Watch, residential real estate worldwide generated nearly USD 221.6 billion in 2019, growing at an average year-on-year rate of 12%. The growing construction sector and increasing demand for new residential buildings are augmenting construction robots’ growth. The construction industry in developing economies widely uses automation and robotics due to a shortage of skilled labor and lower labor productivity.
Restraints: High cost of construction robots likely to hamper the market growth
The total cost of robots is one of the major factors considered before buying them. The installation cost and the operational cost of the robots are critical for many end-users in developing countries and developed countries. The average price of a new construction robot ranges from USD 50,000 to USD 80,000. After adding application-specific peripherals, the robot system cost can reach somewhere between USD 100,000 to USD 150,000. On the other hand, the cost of contract labor for construction can be cheaper in many countries than robots. This high-cost factor makes it difficult for manufacturers to convince consumers to automate their construction sites. Thus, the installation cost and the additional costs discourage the consumers from adopting the construction robots.
Scope of the Global Construction Robots Market
The study categorizes the construction robots market based on type, function, automation, and application at the regional and global levels.
Direct Purchase Report: https://www.marketstatsville.com/buy-now/construction-robots-market?opt=2950
By Type Outlook (Sales, USD Million, 2017–2030)
- Traditional Robot
- Robotic Arm
- Exoskeleton
By Function Outlook (Sales, USD Million, 2017–2030)
- 3D-printing Robots
- Bricklaying Robots
- Demolition Robots
- Other Functions
By Automation Outlook (Sales, USD Million, 2017–2030)
- Fully Autonomous
- Semi-Autonomous
By Application Outlook (Sales, USD Million, 2017–2030)
- Commercial Buildings
- Public Infrastructure
- Residential Buildings
- Other Applications
- 3D-printing Robots
- Bricklaying Robots
- Demolition Robots
- Other Function
By Region Outlook (Sales, USD Million, 2017–2030)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The demolition robots segment is projected to account for the largest market share, by type
Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table-of-content/construction-robots-market
The global construction robots market by function is broadly classified into 3D-printing robots, bricklaying robots, demolition robots, and other functions. In 2021, the demolition robots segment accounted for the largest market share of 32.5% in the global construction robots market. Demolition is a vital part of construction, particularly in the renovation field. When a floor of a building needs to be redesigned, demolition occurs to topple existing walls to give room to create a new layout. Demolition robots are much more effective than handheld equipment which is the primary benefit of demolition robots. Demolishing large structures and buildings using robots can accelerate the demolition process, improve efficiency, and save money and time. Demolition robots allow the operator to operate by staying at a safe distance from the contaminants. It also aids in the removal of trash and the crushing of concrete, making it a more human-friendly solution. Robots make it simple to dismantle walls, collect waste, and crush concrete in restricted spaces. It also aids in the removal of trash and the crushing of concrete, making it a more human-friendly solution. In restricted spaces, robots make it simple to dismantle walls, collect waste, and crush concrete.Some demolition robots use hydropower to bring down materials such as weak concrete and prevent the air from being polluted with material dust.
Asia Pacific accounts for the highest CAGR during the forecast period
The construction robots market is segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa among the geographies. Worldwide, Asia Pacific is projected to hold the highest CAGR of 11.4% in the global construction robots market during the forecast period. The region has long been seen as an innovator in industrial robots and the consumer robots space. China is now perhaps the global leader in industrial robotics, whereas Japan has long been the perennial home of consumer-focused robots.
Request For Report Description: https://www.marketstatsville.com/construction-robots-market
The demand and utilization for service robots are anticipated to increase in the Asia Pacific shortly due to the ongoing development by Chinese and Japanese manufacturers for robotic systems. Various governments have high regulatory and financial support for Asian companies to add service robotics technologies in personal, industrial, and professional applications. With The expanding urbanization and the huge presence of natural reserves distributed among various countries, the mining and construction companies have started implementing operating software, automated equipment, and communications systems to connect and operate on-site. Similarly, the presence of many robotic manufacturing companies in China and Japan will boost the market in this region.
Key Market Players
The leading players in the global construction robots market include TopTec Spezialmaschinen Gmbh, Ekso Bionics, Brokk AB, Komatsu Europe International N.V., Fujita Corporation, Autonomous Solutions, Inc., Giant Hydraulic Tech Co., Ltd., Alpine Sales & Rental Corp., and FBR Limited. Every company follows its own business strategy to attain the maximum market share.