Global Construction Robotics Industry: to grow at a whopping rate of CAGR 17.01%

The global Construction Robotics market size was valued at $100.39 Million in 2020 and is expected to reach $356.36 Million by 2028 growing at the CAGR of 17.01% from 2021 to 2028.

With the rapid pace of advancements in technology, The construction industry is facing some major problems which are hindering their growth. There's a shortage of skilled laborers, the inadequacy of resources and the convergence of requisite technologies. These challenges have increased the demand for construction robot market. These robots have helped in automating laborious and dangerous tasks to keep laborers away from hazardous activities and thus, enable them to focus on more productive work.

Increasing automation in construction provides a cost-effective approach to the creation of infrastructure. Construction robots have advanced over time and have been adopted by many firms because it decreases labor costs and increases uptime capabilities at a very low cost. These developments have aided the industry as a whole which is helping grow the construction robot market during this period.

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Key Players

Some of the major Construction Robotics players holding high market share include Beijing Borui Intelligent Control Technology Co. Ltd., Branch Technology, and Brokk Group. These players use new product development and expansion as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Beijing Borui Intelligent Control Technology Co. Ltd.
● Branch Technology
● Brokk Group
● Built Robotics Inc.
● Conjet
● Construction Robotics
● Kewazo
● Fastbrick Robotics
● Fujita
● Yingchuang Building Technique Co. Ltd.

The recently published research report on Global Construction Robotics Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Construction Robotics market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Construction Robotics market report also includes the following data points:
● COVID19 Impact on Construction Robotics market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in the Construction Robotics market

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Segmental Analysis

Market Segment By Type with focus on market share, consumption trend, and growth rate of Construction Robotics Market:
o Traditional Robot
o Robotic Arm
o Exoskeleton

Market Segment By Automation with focus on market share, consumption trend, and growth rate of Construction Robotics Market:
o Fully Autonomous
o Semi-Autonomous

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Construction Robotics Market:
o Public Infrastructure
o Commercial and Residential Buildings
o Nuclear Dismantling and Demolition
o Others

Market Segment By Function with a focus on market share, consumption trend, and growth rate of Construction Robotics Market:
o Demolition
o Bricklaying
o 3D Printing
o Concrete Structural
o Finishing Work
o Doors and Windows Installation
o Others

For more information: https://evolvebi.com/product/construction-robotics-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The APAC region will exhibit the highest growth rate during the forecast period. Since most of the countries in this region have large natural reserves that can be used for mining and constructing purposes which belongs to the top industries of Australia , China, India, Malaysia, and Vietnam with growing urbanization and wide availability of natural resources throughout the region , mining and manufacturing organizations have started using robots which is connecting them with control systems at remote sites through advanced construction 3D printers resulting in increased demand.

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