PORTLAND, Ore., Feb. 23, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Construction Robotics Market by Application (Demolition, 3D Printing, Material Handling, and Surveillance), Sales Type (New Sales and Aftermarket) and End User (Residential, Industrial, and Commercial): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global construction robotics industry generated $2.45 billion in 2019, and is projected to reach $7.88 billion by 2027, witnessing a CAGR of 23.3% from 2020 to 2027.
Drivers, restraints, and opportunities
Improved quality, productivity, and safety and adoption of 3D printing in the construction industry drive the growth of the global construction robotics market. However, expensive nature of equipment hinders the market growth. On the other hand, emergence of automation in the construction sector presents new opportunities in the coming years.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/9773
- Manufacturing of robotic equipment stopped due to lockdown imposed by governments. There has been lack of sufficient workers, shortage of raw materials, and disruption of supply chain. Manufacturing activity would start slowly as governments lift off restrictions.
- The demand for robots decreased due to stoppage of construction activities across the globe to prevent the cross-contamination. The demand is expected to rise during the post-lockdown.
The surveillance segment to maintain its lead position during the forecast period
Based on application, the surveillance segment accounted for more than four-fifths of the global construction robotics market in 2019, and is estimated to maintain its lead position during the forecast period. This is due to large scale usage of drones for supervision on construction sites. However, the 3D printing segment is projected to manifest the highest CAGR of 45.4% from 2020 to 2027, owing to rise in awareness regarding the 3D printing technology.
The residential segment to maintain its dominance in terms of revenue by 2027
Based on end user, the residential segment accounted for the highest market share in 2019, contributing to more than two-fifths of the global construction robotics market, and is expected to maintain its dominance in terms of revenue throughout the forecast period. Moreover, this segment is estimated to witness the fastest CAGR of 23.9% from 2020 to 2027. This is due to surge in usage of automation equipment in residential construction activities.
Get detailed COVID-19 impact analysis on the Tunnel Boring Machine Market: https://www.alliedmarketresearch.com/request-for-customization/9773?reqfor=covid
Asia-Pacific, followed by North America, to offer lucrative opportunities
Based on region, Asia-Pacific, followed by North America, held the highest market share in 2019, contributing to more than two-fifths of the global construction robotics market, and is projected to continue its leadership status by 2027. Moreover, this region is expected to portray the fastest CAGR of 26.0% during the forecast period. This is due to huge adoption of automated equipment in construction activities.
Leading market players
- Advanced Construction Robotics
- Beijing Borui Intelligent Control Technology Co. Ltd.
- Branch Technology
- Brokk Group
- Built Robotics Inc.
- Conjet AB
- Construction Robotics
- Kewazo GmbH
- Yingchuang Building Technique (Shanghai) Co. Ltd. (WinSun)
Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/9773
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Similar Reports We Have:
IoT in Construction Market - Global IoT in construction market is projected to reach $19,039.8 million in 2027, growing at a CAGR of 14.0% from 2020 to 2027.
Demolition Robot Market - Global demolition robot market is expected to reach $633,199.3 thousand by 2027, registering a CAGR of 16.2%.
Warehouse Robotics Market – Global warehouse robotics market is expected to grow at a CAGR of 11.6% and is forecast to reach $5,186 million by 2023.
Service Robotics Market – Global service robotics market is projected to garner $34.7 billion by 2022, registering a CAGR of 23.9% during the forecast period 2015 - 2022.
Demolition Robots Market - Global demolition robot market is projected to reach $633,199.3 thousand by 2027, registering a CAGR of 16.2%.
Automated Material Handling Equipment Market – Global Automated Material Handling Equipment market is expected to reach $39,060 million by 2022.
Robotic Drilling Equipment Market - The robotic drilling equipment market is projected to reach $1,017.4 million by 2027, registering a CAGR of 8.4% from 2020 to 2027.
Industrial Robotics Market - The Global Industrial Robotics Market is expected to reach $70,715 million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.
Pre-Book Now with 10% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research