Rockville , Oct. 16, 2023 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, through a newly published report, reveals that the global Construction Robot Market stands at US$ 201.3 billion in 2023. Worldwide sales of robotic construction machinery are forecasted to reach a market value of US$ 936 billion by 2033.
Reduced cost of labor along with increased safety because of robotic automation is predicted to contribute to market growth. In addition, rapid industrialization and urbanization are leading to the growing adoption of construction robots to minimize manual efforts and save time.
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Key Segments of Construction Robot Industry Research Report
| By Type | By Function | By Application | By Automation |
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Key Takeaways from Market Study
- The global construction robot market reached US$ 173 billion in 2022.
- Worldwide demand for construction robots accounts for a market value of US$ 201.3 billion in 2023.
- Global sales of autonomous construction equipment are projected to reach US$ 936 billion by 2033-end.
- The global market is predicted to advance at a stellar CAGR of 16.6% from 2023 to 2033.
- Worldwide demand for traditional robots is forecasted to rise at 15.4% CAGR and reach a value of US$ 315.5 billion by 2033-end.
- The United States market was pegged at US$ 52.3 billion in 2022.
- Sales of robotic construction machinery in Germany are projected to rise at a CAGR of 12.2% through 2033.
- Demand for construction robots in Japan is predicted to accelerate at 14.6% CAGR from 2023 to 2033.
- The market in China is forecasted to advance at 16% CAGR and reach US$ 101 billion by the end of 2033.
“Adoption of construction robots is increasing as many construction firms are focusing on automating and modernizing construction activities for cost savings,” says a Fact.MR analyst.
Increasing Infrastructure Development Initiatives in United States Pushing Demand for Robotic Automation
Demand for construction robots in the United States reached a worth of US$ 52.3 billion in 2022. Increasing infrastructure development initiatives in the United States are predicted to scale up the need for robotic automation for construction projects. Moreover, the government of the United States is also spending a significant amount on construction projects to promote automation.
Key Market Players
Leading manufacturers of construction robots are Advanced Construction Robotics, Inc., Apis Cor., Alpine Sales & Rental Corp., Autonomous Solutions, Inc., Brokk, Inc., Beijing Borui Intelligent Control Technology Co. Ltd., Conjet AB, Cybe Construction BV, Construction Robotics, Cyberdyne, Inc., Fastbrick Robotics Ltd., Ekso Bionics, Fujita corporation, Husqvarna AB, Giant Hydraulic Tech Co., Ltd., Komatsu Ltd., nLink AS, MX3D B.V., TopTec Spezialmaschinen GmbH, and Ying Chuang Building Tech Co., Ltd.
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| Report Attribute | Details | |
| Value Projection (2033) | USD 936 Billion | |
| Growth Rate (2023-2033) | 16.6% CAGR | |
| No. of pages | 170 Pages | |
| No. of Tables | 80 Tables | |
| No. of Figures | 219 Figures | |
Market Competition and Strategic Initiatives
Companies in the construction robot industry are employing various tactics to stay competitive, such as introducing novel technologies, ensuring high product quality, and efficiently managing supply chains. Establishing partnerships, fostering collaborations, and driving innovation are crucial endeavors for key market players to broaden their market reach and maintain their position in the competitive landscape.
For example:
- In November 2022, Exyn Technologies partnered with Trimble Inc. to launch autonomous construction surveillance technology, showcasing their commitment to staying at the forefront of innovation in the industry.
Why is the United States Projected to Be a Key Market in This Space?
In 2022, the construction robot market in the United States saw a valuation of US$ 52.3 billion. Anticipated growth in demand for robotic automation within the construction industry is attributed to proactive efforts by both government bodies and non-governmental organizations to bolster infrastructure development. Construction robots enhance service efficiency while minimizing error rates. Additionally, the surge in government spending on construction endeavors is expected to intensify competition among industry participants.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the construction robot market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on type (traditional, robotic arms, exoskeletons), function (demolition, bricklaying, material handling), automation (semi-autonomous, fully-autonomous), and application (public infrastructure, nuclear dismantling & demolition, commercial & residential buildings), across major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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