Press release
Autonomous Construction Equipment Market is Estimated to Reach USD 15,543.07 Million by 2028: Cognitive Market Research
Autonomous Construction Equipment is the equipment that requires minimum or no manpower for the operating of vehicles. Construction work is well-suited for autonomous machinery. Most tasks are repetitive, physical, precise, and time-sensitive, and they don't require any creative or out-of-the-box thinking. Hence, the manufacturers can automate these types of jobs first.
Market Insight:
• Global Autonomous Construction Equipment Market is expected to reach USD 15,543.07 Million by the end of 2028, growing at a CAGR of 10.14% between 2021 and 2028.
• The Earth Moving Equipment Revenue is estimated to reach at USD 5,094.40 Million in 2028
• The Road Construction Revenue in Autonomous Construction Equipment is projected to reach USD 5,519.42 Million in 2028.
• The Partial/Semi-Autonomous Revenue is anticipated to reach at USD 14,428.67 Million in 2028
• The North America Autonomous Construction Equipment market size is expected to reach USD 4,420.45 Million in 2028
To know more The Autonomous Construction Equipment Market statistics click here: https://www.cognitivemarketresearch.com/autonomous-construction-equipment-market-report
Market Drivers For Autonomous Construction Equipment:
Rising Building & Construction industry
Global Building & Construction industry is particularly creating a positive impact and this industry is expected to grow above global gross domestic product (GDP) growth over the next decade. The building and construction sectors are some of the largest sectors in the world economy.
Building & Construction industry spending worldwide amounted to 11.4 trillion U.S. dollars. Building & Construction expenditures are expected to reach 14 trillion U.S. dollars in 2025. This investment can increase the development activities of autonomous construction equipment.
Furthermore, the global building & construction industry gets opportunities in residential, non-residential, and infrastructure. The main reason behind this growth is increasing housing starts and rising infrastructure due to the increasing urbanization and the growing population.
• Restraints for Autonomous Construction Equipment Market
Cyber security issues
• Opportunities for Autonomous Construction Equipment Market
Adoption of Technologies in Construction Industries
Market Segmentation:
Type:
• Earth Moving Equipment
Earth-moving equipment refers to a variety of machinery that can dig, grade, and do other tasks in addition to excavating and grading soil and rock. Many distinct types of earth-moving equipment are now available, each with its own set of vehicles and automated systems
• Material Handling Equipment
Material handling equipment (MHE) is a type of mechanical equipment that is used to move, store, manage, and protect materials, commodities, and products throughout the construction process.
• Concrete & Road Construction Equipment
Application:
• Road Construction
• Building Construction
• Others
Automotion:
• Partial/Semi-Autonomous
• Fully Autonomous
Top Companies Market Share in Autonomous Construction Equipment Industry: (In no particular order of Rank)
• Komatsu Ltd.
• Caterpillar Inc.
• Hitachi Construction Machinery Co. Ltd.
• Volvo Construction Equipment
• Built Robotics Inc.
• Cyngn
• Royal Truck & Equipment
• Case Construction Equipment
Caterpillar specializes in the manufacturing of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. The company has over 97,000 employees worldwide. The company is operating under 21 brands. The company has several operating segments including construction industries, resource, energy and transportation and services provided in the portfolio.
The Company Operates under various brands such as:
Cat, Cat lift trucks, Hindustan, MWM, Anchor, M2M, Cat Reman, SEM, Olympian, Others
Get free sample pages of latest published Autonomous Construction Equipment
Market Report: https://www.cognitivemarketresearch.com/autonomous-construction-equipment-market-report
Recent News
October 2020,
• Caterpillar has Signed agreement to acquire Weir oil & gas:
Caterpillar Inc. has signed an agreement to acquire the Oil & Gas Division of the Weir Group PLC. It is a Scotland-based global engineering business, headquartered near Fort Worth, Texas, Weir Oil & Gas produces a full line of pumps, flow iron, consumable parts, wellhead and pressure control products that are serviced via an extensive global network of service centers located near customer operations.
Related Report:
• Underground Construction Equipment Market- https://www.cognitivemarketresearch.com/underground-construction-equipment-market-report
• Construction Equipment Monitoring System Market- https://www.cognitivemarketresearch.com/construction-equipment-monitoring-system-market-report
• Construction Equipment And Heavy Equipment Market- https://www.cognitivemarketresearch.com/construction-equipment-and-heavy-equipment-market-report
• Fully Autonomous Construction Robot Market- https://www.cognitivemarketresearch.com/fully-autonomous-construction-robot-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
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Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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