Dublin, June 04, 2020 (GLOBE NEWSWIRE) -- The "Autonomous Construction Equipment Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global autonomous construction equipment market.
This report focuses on the autonomous construction equipment market which is experiencing strong growth. the report gives a guide to the autonomous construction equipment market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global autonomous construction equipment market is expected to decline from $9.53 billion in 2019 to $8.46 billion in 2020 at a compound annual growth rate (CAGR) of -11.28%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing and remote working, and the closure of industries and other commercial activities. The market is then expected to recover and reach $14.05 billion in 2023 at CAGR of 18.45%.
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Where is the largest and fastest growing market for the autonomous construction equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? the Autonomous Construction Equipment global market report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. it traces the market's historic and forecast market growth by geography. it places the market within the context of the wider autonomous construction equipment market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. it covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- the trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The autonomous construction equipment market section of the report gives context. it compares the autonomous construction equipment market with other segments of the autonomous construction equipment market by size and growth, historic and forecast. it analyses GDP proportion, expenditure per capita, autonomous construction equipment indicators comparison.
North America was the largest region in the autonomous construction equipment market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
Changing existing equipment to autonomous mode is the growing trend in the autonomous construction equipment market. Companies are interested in automation but implementation cost for deployment of technology is high. Therefore, construction companies are planning to rent autonomous machines to stay competitive by using new technology without the potential barriers of high investments. This is mainly to avoid costs associated with purchasing a construction equipment. For instance, cost of owning a commercial truck may add up to roughly $8,500 annually, according to the statistics.
To reduce the overall expenses, they are working on solutions to make their existing equipment autonomous. Built Robotics, is providing a manufacturer-agnostic solution to clients that wants to automate their machine by which customer could make their machinery autonomous without sacrificing manual operating capabilities. With more machines likely to become autonomous in the future, promising developments are on the horizon.
Most of the construction companies are facing heavy equipment operator shortage throughout the world. Manufacturers are more focused towards technology such as robotics and automation primarily to combat labour shortages along with finishing up their tasks faster, reduce wastage and provide high yields with improved quality. Experts believed that one of the best solutions to combat labour shortage is to automate construction equipment for repetitive tasks, especially in remote areas and in locations with significant labour shortages. Therefore, shortage in labour or skilled workforce is driving the autonomous construction equipment market.
Safety and cyber security issues have always been a major challenge in the autonomous construction equipment market. To automate construction equipment, regardless of the control system used, cyber security always remains a key concern as it is challenging to control the potential damage that could be caused by hacking heavy equipment. It presents remote access for hackers to exploit system vulnerabilities in communication systems between vehicles and infrastructure. Threats associated with the protection and safety of the personal information is always being a major concern, limiting the growth of the autonomous construction equipment market.
Key Topics Covered:
1. Executive Summary
2. Autonomous Construction Equipment Market Characteristics
3. Autonomous Construction Equipment Market Size And Growth
3.1. Global Autonomous Construction Equipment Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Autonomous Construction Equipment Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Autonomous Construction Equipment Market Segmentation
4.1. Global Autonomous Construction Equipment Market, Segmentation By Autonomy, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Autonomous Construction Equipment Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Autonomous Construction Equipment Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Autonomous Construction Equipment Market Regional And Country Analysis
5.1. Global Autonomous Construction Equipment Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Autonomous Construction Equipment Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Autonomous Construction Equipment Market
7. China Autonomous Construction Equipment Market
8. India Autonomous Construction Equipment Market
9. Japan Autonomous Construction Equipment Market
10. Australia Autonomous Construction Equipment Market
11. Indonesia Autonomous Construction Equipment Market
12. South Korea Autonomous Construction Equipment Market
13. Western Europe Autonomous Construction Equipment Market
14. UK Autonomous Construction Equipment Market
15. Germany Autonomous Construction Equipment Market
16. France Autonomous Construction Equipment Market
17. Eastern Europe Autonomous Construction Equipment Market
18. Russia Autonomous Construction Equipment Market
19. North America Autonomous Construction Equipment Market
20. USA Autonomous Construction Equipment Market
21. South America Autonomous Construction Equipment Market
22. Brazil Autonomous Construction Equipment Market
23. Middle East Autonomous Construction Equipment Market
24. Africa Autonomous Construction Equipment Market
25. Autonomous Construction Equipment Market Competitive Landscape And Company Profiles
25.1. Autonomous Construction Equipment Market Competitive Landscape
25.2. Autonomous Construction Equipment Market Company Profiles
26. Key Mergers And Acquisitions In The Autonomous Construction Equipment Market
27. Autonomous Construction Equipment Market Trends And Strategies
28. Autonomous Construction Equipment Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright And Disclaimer
Companies Mentioned
- Komatsu Ltd
- Caterpillar Inc.,
- Hitachi Construction Machinery Co., Ltd.
- Volvo Construction Equipment
- Built Robotics, Inc.
- Cyngn
- Royal Truck & Equipment
- Case Construction Equipment,
- Deere and Company
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