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Construction Robots Market - A Technology that Promises to Transform the Architecture Goal

07-31-2020 04:24 PM CET | Industry, Real Estate & Construction

Press release from: insightSLICE

Construction Robots Market

Construction Robots Market

The Global Construction Robots Market was valued at US$ 125 million in 2019. Due to disruption of construction activities across the globe midst the COVID-19 pandemic, the demand for construction robots has weakened in 2019. However, the demand for construction robots is anticipated to regain its strength within couple of years. Construction industry is expanding at a rapid rate globally to meet the increased demand for residential and commercial spaces fueled by rapid urbanization and industrialization.

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The rapid industrialization and urbanization have resulted in rapid growth of the urban population, thereby accelerating the growth of building & construction industry across the globe. The building & construction industry is the least automated industry. However, with advancement in technology, the construction industry is witnessing adoption of sophisticated technologies such as 3D printing to accomplish construction tasks. Construction robots are gaining popularity across the globe owing to the improved efficiency and high speed of construction. With increased investment in development of residential and commercial buildings across the globe, the demand for construction robots is anticipated to increase significantly during the forecast period.

Rising demand fueled by declining prices to drive the growth of fully automated construction robots

The global construction robot market is segmented on the basis of type, automation, application, end use, and geography. Based on automation, the global construction robot market is segmented into semi-autonomous construction robots and fully automated construction robots. The semi-automated construction robots contributed a prominent share to the global construction robot market in 2019 and is anticipated to grow significantly during the forecast period. Semi-automated construction robots are affordable and reliable solution for construction of residential buildings and thus are being increasingly used across the developed countries. The fully automated construction robots are expected to be the fastest growing robot type during the forecast period owing to rising demand from construction activities of commercial buildings.

Increased investment in 3D-printing technology and increased adoption of 3D-printing in construction to drive the growth of the market

Based on application, the global construction robot market is segmented into 3D-printing robots, demolition robots, bricklaying robots, and others. The demolition robots contributed a dominating share to the global market owing to increased demand from nuclear dismantling and demolition activities across the developed economies. The 3D-printing robot segment is anticipated to be the most lucrative segment during the forecast period owing to rising adoption and increased research and development in 3D-printing technology across the globe.

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Based on geography, the global construction robot market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific held the largest share of the global construction robot market in 2019 and is anticipated to be the fastest growing region during the forecast period owing to the presence of large number of robot manufacturers across China, Korea, Japan and India. Additionally, the expansion of building & construction industry across Asian countries and rising adoption of automation in construction activities are the key factors contributing towards the growth of the Asia Pacific construction robot market. Europe and North America collectively contributed the largest share to the global construction robot market in 2019 and is anticipated to contribute towards the development and adoption of advanced technologies across the construction industry, thereby fueling the growth of global construction robot market.

Major players active in the global construction robot market include Alpine Sales and Rental, Autonomous Solutions, Beijing Borui Intelligent Control Technology, Brokk AB, Construction Robotics, Ekso Bionics, Fastbrick Robotics, Fujita, Giant Hydraulic Tech, Komatsu, TopTec Spezialmaschinen GmbH, and Yingchuang Building Technique Co. (WinSun).

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insightSLICE is a market intelligence and strategy consulting company. The company provides tailor-made and off the shelf market research studies. The prime focus of the company is on strategy consulting to provide end-to-end solutions.

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