PORTLAND, Ore., Nov. 23, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Demolition Robot Market by Type (Mini, Medium, and Large) and Application (Commercial, Residential, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global demolition robot industry generated $234.9 thousand in 2019, and is expected to garner $633.19 thousand by 2027, growing at a CAGR of 16.2% from 2021 to 2027.
Drivers, restraints, and opportunities
Rapid urbanization and industrialization in developing countries, increasing demand for modern robot in the construction industry, and growth in the mining sector drive the global demolition robot market. However, high cost of the demolition robot and lack of awareness about the benefits of the demolition robot hinder the market growth. On the other hand, technological advancement of the demolition robot presents new opportunities in the coming years.
- COVID-19 outbreak has badly impacted the manufacturing process and hampered the supply of raw materials for demolition robot.
- The demand for demolition robot from the end-using industries, on the other hand, has witnessed a massive drop during covid-19 phase.
Get detailed COVID-19 impact analysis on the Demolition Robot Market: https://www.alliedmarketresearch.com/request-for-customization/5424?reqfor=covid
The large segment to maintain its leadership status throughout the forecast period
Based on type, the large segment accounted for the highest market share in 2019, holding for around two-fifths of the global demolition robot market, and is expected to maintain its leadership status throughout the forecast period. This is attributed to the growing demand for large and powerful demolition robot to demolish large and strong built structures. However, the mini segment is estimated to witness the largest CAGR of 16.8% from 2021 to 2027. This is due to low cost and high demand of the mini robot.
The construction segment to maintain its dominant share during the forecast period
Based on application, the construction segment contributed to the highest share of the market, accounting for around three-fifths of the global demolition robot market in 2019, and is projected to maintain its dominant share during the forecast period. The demolition robot are majorly used in construction industry to demolish existing structures on which new structures can be erected. This factor drives the growth of the segment. However, the tunneling segment would manifest the fastest CAGR of 16.9% from 2021 to 2027. This is attributed to the demand for demolition robot for breaking rocks and stone.
Download Sample PDF (210 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/5424
Europe, followed by North America, to grow at the highest growth rate
Based on region, Europe, followed by North America, held the highest market share based on revenue with more than half of the global demolition robot market in 2019, and is expected to continue its highest contribution by 2027. High adoption rate of robot by countries such as Germany and Sweden due to health & safety regulations and also high cost of labor drives the growth of the market in this province. On the other hand, the market across LAMEA region is anticipated to portray the highest CAGR of 18.6% during the forecast period. This is attributed to the rising demand for robot in countries such as UAE.
Market players grabbing the largest pie
- Husqvarna AB (publ)
- BROKK GLOBAL
- SHERPA Mini-loaders B.V.
- Conjet AB
- TopTec Benelux BVBA
- Robore Cuts Ltd
- STANLEY Infrastructure
- Hitachi Construction Machinery
Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/purchase-enquiry/5424
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:
Fire Sprinkler Market: The global fire sprinkler market size was valued at $10,200.0 million in 2019, and is projected to reach $14,525.5 million by 2027, registering a CAGR of 6.5% from 2020 to 2027.
Construction Drone Market: The global construction drone market size was valued at $4,800.0 million in 2019, and is projected to reach $11,968.6 million by 2027, registering a CAGR of 15.4% from 2020 to 2027.
IoT in Construction Market: The global IoT in construction market size is expected to reach $19,039.8 million in 2027, from $8,179.9 million in 2019, growing at a CAGR of 14.0% from 2020 to 2027.
Mini Excavators Market: The global mini excavators market size is expected to reach $11,873.9 million by 2027 from $9,003.8 million in 2019, growing at a CAGR of 5.4% during the forecast period (2020 to 2027).
Deep Hole Drilling Machines Market: The deep hole drilling machines market size is expected to reach $741.3 million in 2027, from $587.7 million in 2019, growing at a CAGR of 5.8% from 2020 to 2027.
Pre-Book Now with 12% 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 domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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
Follow us on: LinkedIn Twitter
SOURCE Allied Market Research