Growth of the construction robotics market is majorly driven by rise in adoption of automation in the construction industry.
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WILMINGTON, DELAWARE, March 21, 2024 /EINPresswire.com/ — Enhanced Efficiency, Safety, and Technological Innovations Propel Growth in Global Construction Robotics Market. The construction industry is witnessing a significant transformation with the increasing adoption of advanced technologies like 3D printing and automation, driving the expansion of the global construction robotics market. The integration of automation solutions in construction processes not only enhances productivity but also ensures higher quality and safety standards, thereby opening new avenues for growth in the sector.
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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Surveillance Segment Maintains Dominance:
The surveillance segment emerged as a frontrunner in the global construction robotics market in 2019, capturing over four-fifths of the market share. This dominance is expected to persist throughout the forecast period, primarily fueled by the widespread use of drones for monitoring and supervision on construction sites. However, the 3D printing segment is poised for remarkable growth, projecting a robust CAGR of 45.4% from 2020 to 2027, driven by increasing awareness and adoption of 3D printing technology.
Residential Sector Leads Revenue Generation:
In terms of end users, the residential segment emerged as the largest contributor to the global construction robotics market in 2019, accounting for over two-fifths of the market share. The segment is anticipated to maintain its dominance in revenue generation throughout the forecast period, with a projected fastest CAGR of 23.9% from 2020 to 2027. The surge in automation equipment usage in residential construction activities is a key factor driving this growth trajectory.
Asia-Pacific and North America Offer Lucrative Opportunities:
Regionally, Asia-Pacific, followed closely by North America, held significant market shares in 2019, collectively contributing to over two-fifths of the global construction robotics market. These regions are expected to sustain their leadership positions through 2027, with Asia-Pacific projected to exhibit the fastest CAGR of 26.0% during the forecast period. The substantial adoption of automated equipment in construction activities drives the growth prospects in these regions, offering lucrative opportunities for market players.
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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).
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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Allied Market Research
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