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Albany, New York, Feb. 27, 2019 (GLOBE NEWSWIRE) -- According to a new market research report on the construction robots market, published by Transparency Market Research the global construction robots market is expected to reach value of US$ 470.61 Mn by 2026, expanding at a CAGR of 10.4% from 2018 to 2026. Asia Pacific is likely to continue to lead the global market, with the market in the region expanding at a CAGR of 12.4% between 2018 and 2026.
Construction companies welcoming their new robot workers are driving the global construction robots market
Earlier, the construction industry was one of the most unfamiliar R&D fields for the robotics & automation community, despite the fact that the industry is one of the oldest and the largest economic sectors. However, in recent years, the construction industry has become one of the most important research areas in the field of service robotics. The key difficulty with robotics & automation in construction (RAC) is related to nature of the work environment, which is highly unstructured. Automation is changing the face of nearly every industry across the world, whereas the construction industry may pave the way for robots. In the construction industry, robots can carry out 80% of the work, which is more repetitive, more dangerous, and more monotonous.
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Global Construction Robots Market: Scope of Report
The global construction robots market has been broadly segmented in terms of automation, function, application, and geography. In terms of automation, the market has been classified into fully autonomous robots and semi-autonomous robots. Among these, the semi-autonomous robots segment accounted for a major market share of around 74% in 2017. The segment is expected to expand at a significant CAGR of 11.0% during the forecast period. The need for broader and more efficient infrastructure and improved monitoring of infrastructure for predictive and corrective maintenance are factors driving the segment. Based on function, the construction robots market has been divided into 3D-printing robots, demolition robots, bricklaying robot, and others. The combination of 3D-printing and industrial robots is some of the most promising automation technologies in the construction industry. In terms of application, the construction robots market has been classified into commercial buildings, residential buildings, public infrastructure, and others. In 2017, the public infrastructure segment accounted for a prominent market share. The segment is estimated to expand at a significant CAGR of 10.9% during the forecast period.
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Based on region, the global construction robots market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominated the global market in 2017. The region has abundant natural reserves distributed across various countries. Mining and construction are among the top industries in Australia, China, India, Malaysia, and Vietnam. With growing urbanization and wide availability of natural resources in the region, mining and construction companies have started using automated equipment, operating software, and communication systems to connect and operate on site. Europe held a major share of the global construction robots market in 2017. This can be attributed to extensive facilities of various companies for the development and production of construction and demolition robots, and increasing need for residential and non-residential construction projects in the region.
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Global Construction Robots Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global construction robots market. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. Key players operating in the global construction robots market are Brokk AB, TopTec Spezialmaschinen GmbH, Construction Robotics, Komatsu, Ekso Bionics, Fujita, Fastbrick Robotics, Autonomous Solutions, Giant Hydraulic Tech, Yingchuang Building Technique Co. (WinSun), Alpine Sales and Rental, and Beijing Borui Intelligent Control Technology. Companies are focusing on expanding their business through acquisitions and strategic partnerships.
The global construction robots market has been segmented as follows:
Global Construction Robots Market, by Automation
Global Construction Robots Market, by Function
Global Construction Robots Market, by Application
Global Construction Robots Market, by Region
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