Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Construction Robots Market size is expected to reach $2.7 billion by 2028, rising at a market growth of 17.0% CAGR during the forecast period.
The Traditional Robots segment is showcasing a CAGR of 17.3% during (2022 - 2028). The demand for cutting-edge construction robots and products has been spurred by the growing knowledge of the advantages brought about by the implementation of robotic automation in the construction sector. To meet the changing demands of the construction industry, major new innovative items have been introduced by market participants in the traditional robot category.
The Industrial segment acquired maximum revenue share in the Global Construction Robots Market by End-use in 2021 thereby, achieving a market value of $1.1 billion by 2028. Foreign investments, rapid urbanization, and industrialization throughout emerging and undeveloped nations, as well as abundant resources, have increased the demand for construction robots. In addition, the demand for the market is also anticipated to grow due to numerous measures implemented by the governments in the construction sector to provide job opportunities to the populace.
The Demolition segment has shown the growth rate of 17.5% during (2022 - 2028). As it is necessary for remodeling and creating new commercial buildings, demolition is a significant activity in the construction industry. However, no matter how the project site is set up, demolition takes time and may sometimes be risky labor. Robotic deployment may improve safety at demolition sites by preventing mishaps and catastrophic casualties. This is a crucial element in the development of this market.
The Asia Pacific market dominated the Global Construction Robots Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $943.7 Million by 2028. The Europe market is exhibiting a CAGR of 16.5% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 16.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/construction-robots-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Ltd, Ekso Bionics Holdings, Inc., Autonomous Solutions, Inc., Husqvarna AB, Komatsu Ltd., Cyberdyne, Inc., FBR Ltd, Conjet AB (Gulfstream Nordic Holdings AB), MX3D B.V., and Brokk AB (Lifco AB).
Unique Offerings from KBV Research
North America Construction Robots Market Future Scope & Opportunities 2022-2028
Europe Construction Robots Market Size & Growth Forecast 2022-2028
Asia Pacific Construction Robots Market Size, Share & Industry Outlook to 2028
LAMEA Construction Robots Market Growth, Trends & Forecasts 2022-2028