Wilmington, Delaware, United States, Nov. 23, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global construction robots market was estimated at a value of US$ 91.2 million in 2021. It is anticipated to register a 15.3% CAGR from 2022 to 2031 and by 2031, the market is likely to attain US$ 359.6 million by 2031.
People move from rural to urban areas during urbanization, and since everyone requires a place to live, housing developments are necessary. In addition to housing developments, there must be infrastructure for power, a reliable source of drinkable water, and an effective sewage system. Due to population growth, cities are getting denser; as a result, the building sector must become more innovative and creative to meet the needs of this massive population.
The percentage of Americans living in cities was around 82.9% in 2021, up 0.25% from 82.7% in 2020. Building expenditures are likewise rising steadily. During the projected period, it is expected that rising urbanization and construction spending would accelerate the deployment of sophisticated construction robotics.
Download Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=56457
Key Findings of the Market Report
- The global market for construction robots has been divided into many categories based on their nature, including robots for 3D printing, demolition, bricklaying, material handling, surveillance, and other applications such as welding and paint.
- In 2021, the demolition robots category accounted for a significant 35.4% of the global market.
- Demolition is one of the riskiest professions in the construction industry; manual laborers are prone to serious accidents and even death.
- Robotics in demolition operations increases worker productivity and safety, which lowers total operating costs for construction companies.
Global Construction Robots Market: Key Players
A limited number of big and small vendors in the highly concentrated global construction robots industry controls the bulk of the market share. Many companies are investing a large amount of money in thorough research and development, mostly to create environmentally friendly products.
Key players use methods including mergers and acquisitions and product portfolio diversification. The following companies are well-known participants in the global construction robots market:
- ABB Ltd.
- Advanced Construction Robotics Inc.
- ANYbotics AG
- Blue Ocean Robotics
- Brokk AB
- Construction Robotics LLC
- FANUC America Corporation
- Fujita Corporation
- Giant Hydraulic Tech
- Komatsu
Customization Request for the Research Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=56457
Some key developments by the players in this market are:
- FANUC America introduced the M-1000iA robot in January 2022. This robot is designed to handle heavy objects, such as building materials and automotive components. With complete articulation, its maximum cargo capacity is 1000 kg.
- Brokk introduced the Brokk 520D in April 2019 and complies with European Stage IV and Tier 4 Final emission regulations. The business claims that this new device is the most environmentally friendly diesel demolition robot available.
Global Market for Construction Robots: Regional Outlook
Various reasons are propelling the growth of the construction robots market throughout the region. These are:
- In terms of market share for construction robots worldwide, North America had a commanding 36.1% in 2021. The expansion of public infrastructure investments and the rising cost of building in the commercial and residential sectors of the region are the main drivers of market growth.
- The Infrastructure Investment and Jobs Act, approved by the U.S. Congress in November 2021, is estimated to cost US$ 1.2 trillion. Of that amount, US$ 550 billion will be used for utilities, broadband, and transportation; US$ 110 billion will be used for major infrastructure projects like roads and bridges; and US$ 40 billion will be used for bridge repair and replacement.
- Important markets for construction robots include also Asia Pacific and Europe, which in 2021 accounted for 20.1% and 26.5% of the market, respectively.
- Significant reasons driving the deployment of construction robots in these locations include an increasing labor scarcity and an increase in industrial injuries and fatalities.
- Compared to the South American market, the Middle East and Africa market is bigger and is expected to grow at a compound annual growth rate (CAGR) of 13.4% over the course of the forecast period.
Global Construction Robots Market Segmentation
Product Type
- Epoxy
- Acrylic
- Urethanes
- Cyanoacrylate
- Others
End Use
- Automotive
- Aerospace
- Marine
- Building & Construction
- Wind Energy
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Buy this Premium Research Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=56457<ype=S
More Trending Reports by Transparency Market Research –
Rapid Prototyping Market - The global market was valued at USD 8.8 Bn in 2021 and it is estimated to grow at a CAGR of 14.9% from 2022 to 2031 and reach USD 32.4 Bn by the end of 2031
Focused Ion Beam Market - The industry was valued at USD 656.1 Mn in 2021 and it is estimated to grow at a CAGR of 8.3% from 2022 to 2031 and reach USD 1.4 Bn by the end of 2031
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
