Autonomous Construction Equipment Market 2024 - By Growth Analysis, Opportunities, Business Insights, Key Trends And Forecast By 2033

The autonomous construction equipment market size has grown strongly in recent years. It will grow from $14.05 billion in 2023 to $15.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increasing infrastructure development, an increased need for safety in construction and a rise in industrialization.

The autonomous construction equipment market size is expected to see strong growth in the next few years. It will grow to $22.31 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to rapid urbanization, a rise in construction activities and increasing government support . Major trends in the forecast period include focus on advanced construction equipment, rising investments, focus on autonomous robot construction, iot (internet of things)-based autonomous construction machinery, new product launches, focus on technology advancement and strategic partnerships and collaborations.

Market Overview -
The autonomous construction equipment refers to equipment includes sensors such as lidar and cameras in order to recognize humans and obstacles, and the system also uses geofencing to keep machinery within the construction sites.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=3794&type=smp

Labor Shortages Drive Growth In The Autonomous Construction Equipment Market
Most construction companies are facing heavy equipment operator shortages throughout the world. Manufacturers are more focused on technology such as robotics and automation primarily to combat labor shortages along with finishing up their tasks faster, reducing wastage, and providing high yields with improved quality. Experts believed that one of the best solutions to combat labor shortages is to automate construction equipment, especially in remote areas, for repetitive tasks and in locations with significant labor shortages. Therefore, a shortage in labor or skilled workforce is driving the growth of the Autonomous construction equipment market.

Competitive Landscape -
Major companies operating in the autonomous construction equipment market report are Caterpillar Inc, Komatsu Limited, Volvo Group, Hitachi Construction Machinery Co., Ltd., Doosan Corporation, CNH Industrial, Deere & Company, Royal Truck & Equipment, Autonomous Solutions Inc, Built Robotics, Inc., Yingchuang Building Technique Co., XMCG, Kobelco Construction Machinery Co. Ltd, Tadano Ltd, Liebherr, Sany Heavy Industry Co., Ltd, Xuzhou Construction Machinery Group Co., Ltd, Zoomlion India Pvt. Ltd., China Communications Construction Company, JCB India, Fastbrick Robotics, Fujita Corporation, Toyota Industries, Takeuchi Manufacturing, Lingong Heavy Machinery Co. Ltd, Te*rex Corporation, Wacker Neuson, Bobcat, SafeAI, Aecon, Case, Cummins, Hitachi

Making Existing Equipment Autonomous In The Construction Industry
Making existing equipment autonomous is a growing trend in the autonomous construction equipment market. Companies are interested in automation but the implementation cost for deployment of technology is high. Therefore, construction companies are planning to rent autonomous machines to stay competitive by using new technology without the potential barriers of high investments. This is mainly avoiding costs associated with purchasing construction equipment. For instance, the cost of owning a commercial truck may add up to roughly $8,500 annually according to the statistics. To reduce the overall expenses, they are working on solutions to make their existing equipment autonomous. Built Robotics, is providing a manufacturer-agnostic solution to clients that wants to automate their machine by which customer could make their machinery autonomous without sacrificing manual operating capabilities. With more machines to be likely to become autonomous in the future, promising developments are on the horizon.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/autonomous-construction-equipment-global-market-report

Key Segments -
The autonomous construction equipment market covered in this report is segmented -
1) By Product Type: Earth Moving Equipment, Construction Vehicles, Material Handling Equipment, Concrete And Road Construction Equipment
2) By Autonomy: Partial Or Semi-Autonomous, Fully Autonomous
3) By Application: Road Construction, Building Construction, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.