Major Construction Robotics Market Trend 2024-2033: With The Emergence Of Rebar-Installing Technologies
Construction Robotics Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The construction robotics market size has witnessed significant growth in recent years. The sector, projected to evolve from $4.65 billion in 2023 to $5.50 billion in 2024, is expected to expand at a compound annual growth rate CAGR of 18.5%. Such a robust growth can be credited to the increasing focus of construction organizations on minimizing the wastage of building resources and rising labor costs. Moreover, there is a growing emphasis on expeditious completion of construction projects and adhering to government regulations and safety norms, which is further fueling the adoption of robotics in the construction industry.
What Is the Expected Market Size and Growth Rate of the Construction Robotics Market?
Construction robotics is forecasted to witness an exponential surge in the market size in the coming years. From a projection of $10.96 billion by 2028 with a compound annual growth rate CAGR of 18.8%, the growth in the forecast period can be attributed to a significant rise in construction activities. There is an observable growth in the construction of residential and commercial sectors which can be linked to the increasing investments in construction activities and the rise of emerging economies. Increasing focus on worker safety is another pivotal factor leading to this surge. Major trends in the forecast period include the emergence of new technologies, Integration with intelligent control systems, artificial intelligence AI and machine learning ML incorporation, and technologically advanced robots.
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What's Driving the Construction Robotics Market?
The increase in construction activities, especially in the residential sectors, is expected to propel the growth of the construction robotics market. The term ‘residential sector’ refers to areas designated for residential projects, such as homes and apartments. The construction robots are being increasingly deployed due to their abilities to improve productivity, address labor shortages, enhance safety, and reduce construction time and costs. Moreover, construction robots provide unparalleled uniformity and consistency in their work, ensuring that construction standards are met regularly across all projects. This leads to better efficiency, safety, and quality in residential construction projects. Citing an example, in March 2024, the Australian Bureau of Statistics reported that there were 30,992 dwellings of private new houses, marking a rise of 3.7% from December and an increase of 14.6% since March 2023. Additionally, private and other residential completions rose to 14,844 dwellings, showing a 5.6% increase compared to December 2023. Hence, the increase in residential construction is fuelling growth in the construction robotics market.
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Who Are the Major Players in the Construction Robotics Market?
Key players in the market include Husqvarna AB, KUKA Robotics, Scaled Robotics, Brokk AB, Boston Dynamics, Con Mech Engineers Ltd., HoloBuilder Inc., Doxel Inc., COBOD International AS, Ekso Bionics Holdings Inc., Giatec Scientific Inc., Built Robotics Inc., Construction Robotics LLC, KEWAZO, Dusty Robotics, Branch Technology, Advanced Construction Robotics Inc., Fabrica AI, Hyperion Robotics, OKIBO. These firms are investing extensively in R&D to launch innovative products and services that cater to the evolving demands of end-users.
What Trends Are Emerging in the Construction Robotics Market?
Companies in the construction robotics market are focusing on developing innovative robots, such as rebar installing robots, to enhance automation in construction tasks, streamline the rebar installation process, and neutralize the labor-intensive nature of rebar placement. For instance, in March 2023, Advanced Construction Robotics ACR, launched IronBOT, a robot uniquely designed for lifting, carrying, and placing rebar. IronBOT is slated to augment construction crews by handling the physically demanding task of rebar installation, lifting and placing rebar bundles in transverse and longitudinal orientations without necessitating heavy lifting from workers.
How Is the Construction Robotics Market Segmented?
The construction robotics market neatly bifurcates into the following segments:
1 By Type: Demolition, Bricklaying, 3D Printing, Surveillance, Concrete Structural Erection, Finishing Work, Doors And Windows Installation, Other Types
2 By Sales Type: New Sales, Aftermarket
3 By End-User: Residential, Industrial, Commercial
In terms of regional analysis, North America was the largest region in the construction robotics market in 2023. Going forward, Europe is expected to be the fastest-growing region in the market. Other significant regions include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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