Autonomous Construction Equipment Market 2021 Precise Outlook- Caterpillar Inc.; Komatsu Limited; Volvo Group; Doosan Corporation; Hitachi Construction Machinery

Autonomous Construction Equipment Market 2021 report helps the clients to take business decisions and to understand strategies of major players in the industry. The report also calls for market- driven results deriving feasibility studies for client needs. Market Insights Reports ensures qualified and verifiable aspects of market data operating in the real- time scenario. The analytical studies are conducted ensuring client needs with a thorough understanding of market capacities in the real- time scenario.

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The global autonomous construction equipment market reached a value of nearly $9,529.7 million in 2019, having grown at a compound annual growth rate (CAGR) of 7.5% since 2015, and is expected to grow at a CAGR of 10.2% to nearly $14,051.6 million by 2023.

Top leading Companies Profiled in Autonomous Construction Equipment Market Report are Caterpillar Inc.; Komatsu Limited; Volvo Group; Doosan Corporation; Hitachi Construction Machinery Co., Ltd

Markets Segmentation:

By Automation Level: Partial/Semi-Autonomous; Fully Autonomous

By Product Type: Earth Moving Equipment; Material Handling Equipment; Concrete & Road Construction Equipment

By Application: Road Construction; Building Construction; Others

Regional Analysis:

Asia-Pacific (China, India, Japan, South Korea, Australia, Indonesia, Malaysia, and Others), North America (United States, Canada, and Mexico), Central & South America (Brazil, and Rest of South America), Europe (Germany, France, UK, Italy, Russia, and Rest of Europe), Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa and Other)

Market Overview

Growth in the historic period resulted from rise in construction activity, strong economic growth in emerging markets, low interest rate environment and need for safety in construction. Factors that negatively affected growth in the historic period were lack of experience in using autonomous technology, oil price volatility, fluctuating raw material prices, and geo-political tensions. Going forward labour shortage, faster economic growth, technological advances, and government efforts to improve economies post COVID are expected to drive the market. Safety and cyber security issues, geo-political tensions and coronavirus pandemic are major factors that could hinder the growth of the autonomous construction equipment market in the future.

The autonomous construction equipment market is segmented by automation level into partial/semi-autonomous and fully autonomous. The partial/semi-autonomous market was the largest segment of the autonomous construction equipment market by automation level, accounting for $9,249.1 million or 97.1% of the total market in 2019. The fully autonomous market is expected to be the fastest-growing segment going forward at a CAGR of 36.3%.

The autonomous construction equipment market is also segmented by product type into earth moving equipment, material handling equipment and concrete & road construction equipment. The material handling equipment market was the largest segment of the autonomous construction equipment market by product type, accounting for $3,941.6 million or 41.4% of the total market in 2019.The earth moving equipment market is expected to be the fastest-growing segment going forward at a CAGR of 11.2%.

The autonomous construction equipment market is also segmented by application into road construction, building construction and others. The building construction market was the largest segment of the autonomous construction equipment market by application, accounting for $4,926.0 million or 51.7% of the total market in 2019 and is expected to be the fastest-growing segment going forward at a CAGR of 11.0%.

The coronavirus has had significant impact on the construction industry, with equipment manufacturers and other market players struggling to stay afloat amidst decreased demand, staff shortages, factory shutdowns, logistical and supply chain disruptions, and travel restrictions. The pandemic has also caused unemployment in the construction sector. For example, in the US close to a million employees in the industry lost their jobs in April, bringing its unemployment rate above 16%.

Regional Analysis

Asia Pacific was the largest region in the autonomous construction equipment market, accounting for 35.2% of the global market in 2019. It was followed by North America, Western Europe and the other regions. Going forward, the fastest growing regions in the autonomous construction equipment market will be Asia Pacific and Middle East, where growth will be at CAGRs of 12.0% and 11.6% respectively from 2019-2023.

The autonomous construction equipment market is concentrated. The top ten competitors in the market made up to 69.62% of the total market in 2019. Major players in the market include Caterpillar Inc., Komatsu Limited, Volvo Group, Doosan Corporation and Hitachi Construction Machinery Co., Ltd.

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Key Takeaways from Autonomous Construction Equipment Report

─Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals

─Understand the different dynamics influencing the Autonomous Construction Equipment market – key driving factors, challenges and hidden opportunities.

─Get in-depth insights on your competitor performance – Autonomous Construction Equipment market shares, strategies, financial benchmarking, product benchmarking, SWOT and more

─Analyze the sales and distribution channels across key geographies to improve top-line revenues.

─Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.

─Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.

─Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the Autonomous Construction Equipment

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In conclusion, the Autonomous Construction Equipment market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function as a profitable guide for all the Autonomous Construction Equipment Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research reports from every individual sector which will be helpful to understand the industry data in the most precise way.

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