Autonomous Construction Equipment Market 2021 Analysis by Top Manufacturers – Komatsu Ltd; Caterpillar Inc.; Hitachi Construction Machinery Co. Ltd.; Volvo Construction Equipment

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.

The global autonomous construction equipment market is expected grow from $9.47 billion in 2020 to $10.52 billion in 2021 at a compound annual growth rate (CAGR) of 11.1%.

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Top leading Companies Profiled in Autonomous Construction Equipment Market Report are Komatsu Ltd; Caterpillar Inc.; Hitachi Construction Machinery Co. Ltd.; Volvo Construction Equipment; Built Robotics Inc.; Cyngn; Royal Truck & Equipment; Case Construction Equipment; Deere and Company

Markets Segmentation:

1) By Autonomy: Partial/Semi Autonomous 2) By product type: Earth Moving Equipment; Construction Vehicles; Material Handling Equipment; Concrete & Road Construction Equipment 3) By application: Road Construction; Building Construction; Other

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

The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $15.13 billion in 2025 at a CAGR of 10%.

The autonomous construction equipment market consists of sales of autonomous construction equipment which works on wireless communication technologies, by interfering with radio signals from other equipment, receiving commands and reporting status. The equipment includes hardware retrofit and sensors added to get machine and process feedback, as well as knowledge of position and the surroundings. It assures benefits like improved safety, increased productivity, and reduced unscheduled maintenance. The market consists of revenue generated by the companys manufacturing autonomous construction equipment by the sales of these products.

Most of the construction companies are facing heavy equipment operator shortage throughout the world. Manufacturers are more focused towards technology such as robotics and automation primarily to combat labour shortages along with finishing up their tasks faster, reduce wastage and provide high yields with improved quality. Experts believed that, one of the best solutions to combat labour shortage is to automate construction equipment, especially in remote areas, for repetitive tasks and in locations with significant labour shortages. Therefore, shortage in labour or skilled workforce is driving the Autonomous construction equipment market.

Safety and cyber security issues have always been a major challenge in the autonomous construction equipment market. To automate construction equipment, regardless of the control system used, cybersecurity always remains a key concern as it is challenging to control the potential damage that could be caused by hacking of heavy equipment. It presents remote access for hackers to exploit system vulnerabilities of communication systems between vehicles and infrastructure. Threats associated with the protection and safety of the personal information is always being a major concern, limiting the growth of the Autonomous construction equipment market.

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News and Updates

In June 2019, Mortenson, a U.S.-based, top-20 builder, developer and leading renewable energy contractor, has announced a strategic partnership with a San Francisco-based developer of autonomous robotic equipment technology, Built Robotics. Built Robotics builds robotic upgrade kits for common construction equipment such as bulldozers, excavators and skid steers. Combined with its proprietary software, it designs autonomous equipment with multilayer safety systems to ensure 100 percent safe operation. The deal will focus on heavy civil earthmoving activities on renewable energy projects that Mortenson is building in North America.

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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