SAN FRANCISCO, May 4, 2023 /PRNewswire/ -- The global construction robots market size is anticipated to reach USD 3,542.8 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 17.5% from 2023 to 2030. The global adoption of advanced construction robot technologies has been prompted by the need for more environmentally friendly and affordable construction with reduced environmental impact and skills & labor. However, only a few construction firms have currently adopted robotic automation, indicating that market players have a significant opportunity to transform the industry through innovative and advanced product launches. Furthermore, due to the security risks of the construction industry and the increasing number of fatal accidents, there is a growing need for the adoption of robotic automation systems.
Key Industry Insights & Findings from the report:
- Based on function, the material handling segment accounted for the major revenue share of 32.4% in 2022 and is anticipated to grow at the highest CAGR of 18.0% over the forecast period. Surged adoption of automation technologies to reduce labor costs and increase workload management efficiency is attributed to the segment growth.
- Based on type, the robotic arm segment captured the highest revenue share of 67.8% in 2022. Availability of funding, the increasing need to manage large payloads, and consistent launches of innovative products by market players are factors contributing to the increasing adoption of robotic arm technologies across the construction industry. For instance, in January 2022, FANUC CORPORATION, a provider of robotics technology, announced the launch of its new industrial robotic arm with a payload capacity of 1,000 kg. The serial-link construction of the M-1000iA allows the robot to move in more directions. It can rotate its arm backward or extend it upright, which typical heavy-payload robots with a parallel-link mechanism cannot do.
- Based on end-use, the industrial segment accounted for the largest market share of 38.9% in 2022 and is expected to maintain its majority over the forecast period with a CAGR of over 17.0% during the forecast period. Rapid urbanization and industrialization, coupled with the increasing population are the factors driving the growth.
- Asia Pacific held the highest market share of 30.3% in 2022 and is expected to retain its position over the forecast period. The significant presence of market players such as ABB, YASKAWA India, FANUC CORPORATION, and Saisun is one of the high-impact rendering drivers for the regional growth.
- Asia Pacific is expected to grow at the highest CAGR of over 18.0% during the forecast period owing to the rise in investments in the construction industry and increasing awareness of robotic automation advantages. The increasing development of technological infrastructure coupled with the high need for modernization is expected to fuel the market growth in the region.
- The market players are undertaking various initiatives such as partnerships, acquisitions, mergers, and product launches to expand their reach in the global market. For instance, in November 2022, Acceleration Robotics, a provider of customized hardware for robots, announced the acquisition of TechnoYantra, a robotics consulting organization. Acceleration Robotics aims to extend its reach in the Asian market through this acquisition.
Read full market research report, "Construction Robots Market Size, Share & Trends Analysis Report By Function, By Type (Traditional Robot, Robotic Arm, Exoskeleton), By End-use (Industrial, Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Construction Robots Market Growth & Trends
Construction tasks' inherent complexity, labor-intensive work models, and uniqueness of design necessitate significant human expertise and effort. These construction industry challenges can be overcome by developing computer vision and implementing advanced technologies such as machine learning and artificial intelligence to increase the efficiency and automation capacity of construction robots.
The COVID-19 pandemic has hastened the pace of modernization across the construction industry, especially due to the urgency of the construction of hospitals owing to the shortage of bed capacity. Although the adoption of construction robots during the pandemic was minimal, there was a huge positive impact on awareness regarding the adoption of robotic automation technologies due to its multiple benefits.
Construction Robots Market Segmentation
Grand View Research has segmented the global construction robots market based on function, type, end-use, and region:
Construction Robots Market - Function Outlook (Volume, 000' Units; Revenue, USD Million, 2017 - 2030)
- Demolition
- Bricklaying
- Material Handling
- Others
Construction Robots Market - Type Outlook (Volume, 000' Units; Revenue, USD Million, 2017 - 2030)
- Traditional Robots
- Robotic Arm
- Exoskeleton
Construction Robots Market - End-use Outlook (Volume, 000' Units; Revenue, USD Million, 2017 - 2030)
- Industrial
- Residential
- Commercial
Construction Robots Market - Regional Outlook (Volume, 000' Units; Revenue, USD Million, 2017 - 2030)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
List of Key Players in the Construction Robots Market
- Construction Robots
- ABB
- Advanced Construction Robots
- BROKK GLOBAL
- Ekso Bionics
- Autonomous Solutions Inc.
- MX3D
- Husqvarna AB
- FBR Ltd
- Conjet
Check out more related studies published by Grand View Research:
- Construction Equipment Market - The global construction equipment market size is projected to reach USD 346.23 billion by 2030, registering a CAGR of 8.3% from 2023 to 2030, according to a new study by Grand View Research Inc. The rising investments made by governments around the world in the development of public infrastructure is one of the key factors anticipated to fuel the construction equipment market growth over the projected period. Additionally, the demand for construction equipment is predicted to rise as a result of the increased residential and commercial construction activity caused by the growing population in emerging nations like India. Thus, it is projected that the construction equipment market will expand steadily over the forecast period.
- Heavy Construction Equipment Market - The global heavy construction equipment market is expected to reach USD 90.4 billion by 2025 at a CAGR of 5.4%, according to a new report by Grand View Research, Inc. Increased investment in infrastructure has been a major factor driving market growth. Rise in infrastructural development around the world is the key catalyst that will propel market growth over the forecast period. Infrastructural development results in increased construction activities, which eventually creates a demand for heavy duty construction equipment.
- Compact Electric Construction Equipment Market - The global compact electric construction equipment market size is projected to reach USD 138.7 billion by 2030, expanding at a CAGR of 13.5% from 2022 to 2030, according to a new study by Grand View Research Inc. Construction activities are augmenting across the globe majorly due to rapid urbanization and industrialization in developed and developing countries. Likewise, the governments are increasing their spending on infrastructure development which is responsible to boost construction activities. This, high construction activity is increasing demand for excavators and loaders that are compact and environment friendly thus driving the market growth.
Browse through Grand View Research's HVAC & Construction Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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