Construction Robots Market to reach US$ 470.61 Mn by 2026

Albany, NY -- (SBWire) -- 03/16/2019 --Robotics is a branch of engineering that deals with the development, design, construction, and operating of a robot. Robotics comprises electrical, mechanical, and computer engineering. Robotics is widely categorized into service robots and industrial robots. Service robots are further classified into professional robots, personal robots, and domestic robots. Application of the robotics technology in a wide range of production processes across the globe has led to rise in the adoption of the technology at a rapid pace. In the last few years, robots are also being utilized in the construction industry. The construction robots market is projected to expand at a CAGR of 10.4% during the forecast period and reach value of US$ 470.61 Mn by 2026.

Earlier, the construction industry was one of the most unfamiliar R&D fields for the robotics & automation community, despite the fact that the industry is one of the oldest and the largest economic sectors. However, in recent years, the construction industry has become one of the most important research areas in the field of service robotics. The key difficulty with robotics & automation in construction (RAC) is related to nature of the work environment, which is highly unstructured. Automation is changing the face of nearly every industry across the world, whereas the construction industry may pave the way for robots. In the construction industry, robots can carry out 80% of the work, which is more repetitive, more dangerous, and more monotonous.

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The global construction robots market has been broadly segmented in terms of automation, function, application, and geography. In terms of automation, the market has been classified into fully autonomous robots and semi-autonomous robots. Among these, the semi-autonomous robots segment accounted for a major market share of around 74% in 2017. The segment is expected to expand at a significant CAGR of 11.0% during the forecast period. The need for broader and more efficient infrastructure and improved monitoring of infrastructure for predictive and corrective maintenance are factors driving the segment. Based on function, the construction robots market has been divided into 3D-printing robots, demolition robots, bricklaying robot, and others. The combination of 3D-printing and industrial robots is some of the most promising automation technologies in the construction industry. In terms of application, the construction robots market has been classified into commercial buildings, residential buildings, public infrastructure, and others. In 2017, the public infrastructure segment accounted for a prominent market share. The segment is estimated to expand at a significant CAGR of 10.9% during the forecast period.

Based on region, the global construction robots market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific dominated the global market in 2017. The region has abundant natural reserves distributed across various countries. Mining and construction are among the top industries in Australia, China, India, Malaysia, and Vietnam. With growing urbanization and wide availability of natural resources in the region, mining and construction companies have started using automated equipment, operating software, and communication systems to connect and operate on site. Europe held a major share of the global construction robots market in 2017. This can be attributed to extensive facilities of various companies for the development and production of construction and demolition robots, and increasing need for residential and non-residential construction projects in the region.

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Attracted by anticipated growth of the global market and underlying latent demand, several players are expanding their business through strategic mergers and acquisitions and partnerships. For instance, in February 2017, Brokk AB, a leading manufacturer of remote-controlled demolition machines, acquired Aquajet Systems AB, a global supplier of hydrodemolition robots. The acquisition expands application solutions offered by Brokk in the construction & demolition industry. Some of the prominent players operating in the global construction robots market are Brokk AB, TopTec Spezialmaschinen GmbH, Construction Robotics, Komatsu, Ekso Bionics, Fujita, Fastbrick Robotics, Autonomous Solutions, Giant Hydraulic Tech, Yingchuang Building Technique Co. (WinSun), Alpine Sales and Rental, and Beijing Borui Intelligent Control Technology.