Global Construction Robots Market Report 2023: Increase in Need for Greater Efficiency, Productivity, and Manufacturing Flexibility Drives Adoption
Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Global Construction Robots Market Size, Share & Industry Trends Analysis Report By Type, By End-Use, By Function, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Construction Robots Market size is expected to reach $2.7 billion by 2028, rising at a market growth of 17.0% CAGR during the forecast period.
It is primarily driven by robots' increased productivity and quality. Also, labor performed under challenging situations offers greater security and safety. For instance, when tearing down a building, demolition labor might injure the worker. But, a robot can be utilized in place of a human. Because of this, the operation is safer for the employees. Moreover, 3D printing is quickly embraced worldwide as a replacement for expensive specialized labor.
Also, the 3D printing technique uses the least amount of building materials possible, which is what is boosting the worldwide market for construction robots. However, the technology created and developed to run the equipment might be more expensive. In addition, the use of sophisticated sensors, software development, equipment integration with the software, and actual building work increases the cost of the system. These issues hence limit the market development for construction robots.
Market Growth Factors
Increase in need for greater efficiency, productivity, and manufacturing flexibility
Robots have a lot of promise to improve production flexibility, productivity, and efficiency in the construction sector. It mainly entails robotic welding and material handling on construction sites, the production of modular homes, and the 3D printing of homes and bespoke buildings. By enhancing sustainability and minimizing environmental impact, construction robots make the sector safer and more profitable. By enhancing uniformity and quality, robotics and automation in the construction sector help cut waste. Using efficient building design, builders may eliminate waste from a project from the start thanks to automation.
Governmental regulation for workplace safety
As a result, the government tries to protect the workers who are subjected to conditions that are so harsh and challenging. When workers go into tight areas, they risk dying from things like breathing in toxic fumes or being electrocuted, being caught in an explosion, or suffocating to death. Robots can help overcome safety adherence in these types of environments while also reducing the costs associated with guaranteeing worker safety in these types of settings. Due to this, the demand for construction robots is estimated to increase over the projection period.
Market Restraining Factor
Expensive equipment and high setup costs
Construction robotics deployment is hampered by the high costs involved in purchasing and maintaining technology like construction robots. The cost of the procurement and the effectiveness of the technologies raises the manufacturer's total cost. As a result, only businesses and corporations with strong market competitiveness and turnover can afford these technologies. The market for construction robots is therefore constrained in its expansion. They may set barriers in the way of the construction robots market's profitable expansion over the forecast period.
Based on function, the construction robots market is segmented into demolition, bricklaying, material handling and others. In 2021, the material handling segment generated the largest revenue share in the construction robots market. An essential element influencing the development of this market is the substantial manufacturing of construction robots around the globe, notably in the Asia Pacific region. The market is anticipated to expand as a result of the increasing use of automation in the construction sector for tasks including demolition, rehabilitation, material handling, and printing applications.
By end-use, the construction robots market is divided into industrial, residential and commercial. The commercial segment recorded a remarkable revenue share in the construction robots market in 2021. This is due to urbanization, investments in building maintenance and construction, rising economies, and other factors. Moving robots transport loads, which minimizes the need for human labor during building tasks.
On the basis of type, the construction robots market is fragmented into traditional robot, robotic arm and exoskeleton. The robotic arm segment acquired a substantial revenue share in the construction robots market in 2021. Innovative technologies have been used due to changes in the construction sector, including rapid construction, refined construction, and standardized design. To meet the growing demand, market participants in the robotic arm sector are continually creating and designing fresh, cutting-edge goods.
Region wise, the construction robots market is analyzed across North America, Europe, Asia Pacific and LAMEA. The APAC region held the highest revenue share in the construction robots market in 2021. The main reason fueling the rise is the region's expanding use of robotic automation and equipment. Due to rising government investment in the building sector and escalating rivalry among market competitors, the area is predicted to see substantial development. Asia Pacific is a potential market because of its huge population and the associated rise in demand for residential and industrial infrastructure.
Key Market Players
Ekso Bionics Holdings, Inc.
Autonomous Solutions, Inc.
Conjet AB (Gulfstream Nordic Holdings AB)
Brokk AB (Lifco AB)
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Global Construction Robots Market by Type
Chapter 4. Global Construction Robots Market by End-use
Chapter 5. Global Construction Robots Market by Function
Chapter 6. Global Construction Robots Market by Region
Chapter 7. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/xaa2pf
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