Construction Robotics Market Hits a CAGR of 23.3% with Forecast 2027 | Business Opportunities

The construction robotics market is largely driven by the increased productivity and quality that robots bring to the industry. Additionally, these robots provide greater security and safety, especially in hazardous working conditions. The rapid global adoption of 3D printing, as a cost-effective alternative to expensive skilled labor, is further fueling market growth. 3D printing also minimizes material waste, making it an attractive option in construction. However, the high costs associated with equipment and automation are significant barriers to market expansion.

The construction robotics market was valued at $2.5 billion in 2019, and is expected to reach $7.9 billion by 2027, registering a CAGR of 23.3% from 2020 to 2027. In 2019, the surveillance segment dominated the construction robotics market, followed by the demolition segment.

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The COVID-19 pandemic has also caused a temporary slowdown in construction and manufacturing activities worldwide, disrupting supply chains and hindering market growth. Despite these challenges, the industry is gradually recovering, with vaccine rollouts expected to aid market recovery by mid-2021.

Moreover, the increasing adoption of automation in the construction industry is creating new opportunities for technological advancements, which is anticipated to drive the construction robotics market during the forecast period.

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Key Segments:

The construction robotics market is segmented into application, sales type, end user, and region. On the basis of application, the market is divided into demolition, 3D printing, material handling, and surveillance.

Based on sales type, it is bifurcated into new sales and aftermarket. Depending on end user, it is classified into residential, industrial, and commercial. By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Key Findings Of The Study

By application, the surveillance segment was the highest revenue contributor in 2019.
By sales type, the new sales segment generated the highest revenue in 2019.
By end user, the residential segment generated the highest revenue in 2019.

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Top Players:
The major players profiled in the construction robotics market include Advanced Construction Robotics, Beijing Borui Intelligent Control Technology Co. Ltd., Branch Technology, Brokk Group, Built Robotics Inc., Conjet AB, Construction Robotics, DJI, Kewazo GmbH, and Yingchuang Building Technique (Shanghai) Co. Ltd. (WinSun).

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