Newark, May 24, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the construction robot market will grow from USD 168.2 million in 2022 and reach USD 774.6 million by 2032. The creation of autonomous automobiles or self-driving vehicles for the construction industry has changed the way of working and brings a great upcoming opportunity for the market.
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North America to account for largest market size during the forecast period.
North America is expected to have the largest market share in the construction robot market. The growth of the construction robot market in North America region is due to multiple robotics startups in the U.S. have begun developing robots focused on the construction industry to determine the challenges faced by manual labour and make the business more efficient. In July 2022, Intelligent City Inc. declared an investment of $22 million as part of a proposal to grow into new markets and expand its factory operations. The company is best known for deploying robotics to assemble mass timber buildings geared toward mid-to-high-rise homes and offices.
The Robotic Arm Segment Accounted for the Largest Market share of 39% and market revenue of 65.5 million in 2022.
The type segment is divided into robotic arm, exoskeleton, and traditional robot. The robotic arm segment dominated the market, with a market share of around 39% and market revenue of 65.5 million in 2022. Robotic arms, is named because they compare to a human arm, are generally mounted to a base. The arm includes multiple joints that act as axes that enable a degree of movement. The higher the number of rotary joints a robotic arm features, the more freedom of movement it has.
The Industrial Segment Accounted for the Largest Market share of 19% and market revenue of 31.9 million in 2022.
The end-user segment is divided into residential, commercial, public infrastructure, industrial, and nuclear dismantling, and demolition. The industrial segment dominated the market, with a market share of around 19% and market revenue of 31.9 million in 2022. The multiple steps undertaken by the governments in the construction industry to provide employment prospects to the population are anticipated to raise the demand for the market.
Advancement in market
In September 2022, Doornbos Equipment BV and Conjet partnered with Belgium, Luxembourg, and The Netherlands (BENELUX) Doornbos Equipment BV, a distribution partner. Doornbos will take over the dealership from Overmat Industries. The collaborations help the company to expand its footprint all over the world.
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Market Dynamics
Drivers: Cost Effectiveness
No holidays, sick leave, lunch breaks, or shift time will be assigned for robotic automation. It can be placed to work on a repetitive cycle, and if it is carried out perfectly, it will persist until programmed. It stops the chance of RSI occurring. Growing production at a low cost produces clear advantages for any manufacturer. The investment cost can be recovered in a relatively short time, and the gains from that point onwards are exponential.
Restraints: High Cost in Training
Companies will need a good robot who knows how to handle it; companies require money and time to prepare their employees to use this technology; robots need manual labour attached to them; training the employees on how to work with the robots has a cost associated with it.
Opportunities: Independent or Self-driven Construction Automobiles
The creation of autonomous automobiles or self-driving vehicles for the construction industry has changed the way of working. As the name states, these automobiles do not need any operator or driver to drive them. These vehicles are controlled via artificial intelligence and high-level computer programming. Autonomous vehicles are available in the form of excavators, ATLs, Autonomous Track Loaders and dozers and are programmed for separate tasks like excavating grounds, lifting objects, carrying, and placing heavy loads, etc.
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Some of the major players operating in the construction robot market are:
• Advanced Construction Robotics Inc.
• Apis Cor
• Brokk AB
• COBOD International AS
• Construction Robotics LLC
• Dusty Robotics
• Ekso Bionic
• Fastbrick Robotics Ltd
• Husqvarna AB
Key Segments cover in the market:
By Type:
• Robotic Arm
• Exoskeleton
• Traditional Robot
By End-User:
• Commercial
• Residential
• Public Infrastructure
• Industrial
• Nuclear Dismantling and Demolition
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analysed based on value (USD Million). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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