Construction Robot Market worth $166.4 Million USD by 2023, at CAGR of 16.8%

 

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The market is mainly driven by the factors such as enhanced productivity, quality, and safety due to the implementation of construction robots and growing urbanization worldwide. Construction robot market refers to the reduction or complete removal of human intervention from main construction automation activities in many of the applications, such as public infrastructure, commercial and residential buildings, and nuclear dismantling and demolition. The construction operations are automated by using automated construction equipment or construction robots.

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Industry Trends of the Global Construction Robot Market:

1. Husqvarna Group’s Construction Division agreed to acquire the Light Compaction & Concrete Equipment business of Atlas Copco (Sweden). The acquisition was expected to support the overall ambition of Husqvarna Group, growing the market share of the construction division.

2. Fastbrick Robotics raised USD 27.6 million with the support of Global Institutional Funds and Domestic Funds. The key focus is on the assembly, testing, and demonstration of the 2 Hadrian X commercial prototypes being built.

3. Ekso Bionics raised USD 34 million of gross proceeds, which includes the investment of USD 20 million by Puissance Capital Management (US). The company raised the fund in fully financed rights offerings. The capital raised through this financing was expected to provide the company with additional resources to further advance the adoption and development of its innovative exoskeleton solutions in both the rehabilitation and industrial verticals.

What are the Driving Factors of Evolution of technologies and consolidation of Construction Robot Market?

Theconstruction robot market is valued at USD 76.6 Million in 2018 and is expected to reach USD 166.4 Million by 2023, at a CAGR of 16.8% between 2018 and 2023.

Semi-autonomous construction robots held larger share of overall market

The semi-autonomous construction robots held a larger share of ~67.1% of the overall construction robot market in 2017. The need for broader and more efficient infrastructure, and improved infrastructure monitoring for predictive and corrective maintenance are the factors driving the market for the semi-autonomous construction robots.

Construction Robot Market : Top Leading Companies Profiles:
Construction robot market for exoskeleton to grow at highest CAGR during forecast period

The market for exoskeleton is expected to grow at the highest CAGR during the forecast period. The high growth of this segment can be attributed to the fact that most of the construction companies are expected to adopt exoskeletons for their workers to address the issue of labor shortage. The deployment of exoskeletons is likely to help workers to perform heavy work easily; hence, the use of exoskeleton is expected to improve work environment at construction sites.

Major players in the flexible heater market are Brokk (Sweden), Husqvarna (Sweden), Ekso Bionics (US), Komatsu (Japan), Fujita (Japan), Construction Robotics (US), Fastbrick Robotics (Australia), Autonomous Solutions (US), Conjet (Sweden), TopTecSpezialmaschinen (Germany), Apis Cor (Russia), nLink (Norway), Yingchuang Building Technique Co. (WinSun) (China), Advanced Construction Robotics (US), MX3D (Netherlands), CyBe Construction (Netherlands), CYBERDYNE (Japan), Giant Hydraulic Tech (China), Alpine Sales and Rental (US), and Beijing Borui Intelligent Control Technology (China).

Construction Robot Market - Geographical Regional Vision by Marketsandmarkets^TM
Europe is a major consumer of construction robots

Europe accounted for a major share of the overall construction robot market in 2017. The largest size of the European construction robot market is attributed to the large facilities of various companies for the development and production of the construction and demolition robots, increasing number of government regulations, and growing need for the residential and non-residential construction projects. Also, the European construction market is expected to grow tremendously in the coming years. The high rate of industrialization has increased the extent of construction activities in the region, leading to increasing demand for advanced construction equipment, such as robots.

Regions & Countries Covered:

North America - (U.S., Canada, Mexico)

Europe - (U.K., France, Germany, Italy, Spain, Rest of Europe)

Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)

Latin America - (Brazil, Argentina, Rest Of Latin America)

The Middle East & Africa - (GCC Countries, South Africa, Rest Of the Middle East & Africa)

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