Autonomous Construction Equipment Market Size & Share, by Type (Partial/Semi-Autonomous, Fully Autonomous); Product Type (Earth Moving Equipment, Material Handling Equipment, Concrete, Road Construction Equipment); Application (Road Construction, Building Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4818
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Autonomous Construction Equipment Market size is projected to cross USD 312 Billion by the end of 2035, growing at a CAGR of 19% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of autonomous construction equipment was over USD 15 Billion. The growth of this market can be ascribed on the back of increasing urbanization. As urbanization grows, there might be pressure to reduce emissions and improve air quality in cities. Moreover, autonomous construction equipment might play a significant role in this by utilizing electric and hybrid powertrains, which emit less pollution than diesel-powered equipment, which is predicted to contribute to the market expansion. For instance, in India, the annual pace of urbanization grew by over 1% in 2021.

Moreover, increasing technological advancement in the field of autonomous construction equipment is estimated to actively contribute to market growth during the projected period. Such as the introduction of sensors, GPS, and machine learning algorithms, among other technological advancements, have made it feasible for heavy machinery to function independently. With the use of these technologies, machines can be programmed to carry out daily duties more accurately and precisely.


Autonomous Construction Equipment Market
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Autonomous Construction Equipment Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Environmental Awareness – The market is expected to continue growing in the coming years due to increasing air pollution worldwide. A recent survey of 24 countries found that more than 50% of people are more aware of their environmental impact, and more than 30% will be more aware of their impact in 2021 to address environmental and sustainability issues. Also, they are ready to take personal action on the issues.
  • Rise in Occupational Injuries – It is estimated that an increase in traffic accidents worldwide is driving market growth. Every year, worldwide, around 150 million work-related illnesses and about 320 million work-related injuries take place.
  • Increasing Demand for Autonomous Technology – Rising awareness of human safety is expected to drive autonomous construction equipment market growth. By 2029, more than 70% of cars will be fully self-driving, making our roads safer by reducing accidents and saving more lives around the world.

Challenges

  • High Cost of Equipment and its Maintenance – The high cost of equipment is expected to slow down the market expansion. For instance, technology deployment of these equipment comes with a significant implementation cost, which rises with the overall expense.
  • Strict Government Standards
  • Lack of Skilled Labour  

Autonomous Construction Equipment Market: Key Insights

Base Year

2022

Forecast Year

2023 – 2035

CAGR

~19%

Base Year Market Size (2022)

~USD 15 billion

Forecast Year Market Size (2035)

~USD 312 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC, North Africa, South Africa, Rest of the Middle East and Africa)
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Autonomous Construction Equipment Segmentation

Application (Road Construction, Building Construction)

The building construction segment in the autonomous construction equipment market is estimated to acquire the largest revenue share of 50% during the forecast time period. The growth of this segment is attributed to the growing population worldwide. Such as, the world's population continues to grow, and the need for additional housing, businesses, and infrastructure is growing, driving demand for autonomous construction equipment in the construction sector. Additionally, thanks to advanced sensors and algorithms, autonomous devices can perform activities with a high degree of consistency and precision, minimizing the need for rework and improving overall quality in the construction activity.

Type (Partial/Semi-Autonomous and Fully Autonomous)

Autonomous construction equipment market from the partial/semi-autonomous segment is predicted to account for the highest CAGR by the end of 2035. This growth is driven by a growing shortage of skilled workers around the world. Partially or semi-autonomously heavy equipment has the technical ability to automatically perform certain tasks without direct human control. Some sectors, such as mining and construction, are suffering from shortages of skilled workers. Semi-autonomous or semi-autonomous heavy equipment reduces the need for human operators and can perform some tasks faster and more accurately than human operators, increasing productivity and efficiency on the job site. This is poised to create lucrative growth opportunities for the sector in the coming years. As of the study, the sales of the semi-autonomous segment are predicted to reach 6.3 billion by the end of 2026. 

Our in-depth analysis of the global market includes the following segments:

               Type

  • Partial/Semi-Autonomous
  • Fully Autonomous

               Product Type

  • Earth Moving Equipment
  • Material Handling Equipment
  • Concrete Construction Equipment
  • Road Construction Equipment

                Application

  • Road Construction
  • Building Construction

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Autonomous Construction Equipment Industry - Regional Synopsis

APAC Market Forecasts

The Asia Pacific autonomous construction equipment market is projected to hold the largest revenue share of 35% by the end of 2035. The growth of the market can be attributed majorly to the development of smart cities in the region. For instance, as cities in the region continue to grow, there is a demand for new buildings and infrastructure to accommodate the increasing population, which in turn increases the need for construction equipment such as bulldozers, cranes, and excavators to assist infrastructure projects.. Further, the need for digitization in the construction sector is projected to rise as cities grow. In addition, the region's growing agriculture sector, and rising air pollution, are also anticipated to boost the market growth during the forecast period.

North American Market Statistics

The North America autonomous construction equipment market is estimated to grow significantly during the projection time period. The growth of the market can be attributed to the availability of large companies in the region. Further, several businesses are investing in the study and development of autonomous heavy machinery, which is a fast-growing technology.

Research Nester
Autonomous Construction Equipment Market Size
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Companies Dominating the Autonomous Construction Equipment Market

top-features-companies
    • Deere and Company Overview
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Caterpillar Inc.
    • Volvo Construction Equipment
    • Built Robotics Inc.
    • Royal Truck & Equipment Case Construction Equipment
    • Case Construction Equipment
    • Cyngn Inc.

In the News

  • Royal Truck & Equipment stated to provide an autonomous truck-mounted attenuator (ATMA) truck to the University of Tennessee Centre for Transportation Research for a pilot demonstration. TMA trucks are usually parked behind road construction personnel to shield them from distracted or intoxicated drivers in the case of an accident and remove the need for a human to operate a vehicle.
  • Komatsu Ltd. a manufacturer of global heavy equipment, revealed that the FrontRunner Autonomous Haulage System (AHS) has obtained certification to function on private long-term evolution (LTE) mobile broadband technology. This is the first AHS in the mining sector that can operate on private LTE in commercial operations, paving the door for extremely high system availability.

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 4818
  • Published Date: Apr 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing cases of work-related accidents and increasing environmental awareness are some of the major factors anticipated to drive the growth of the autonomous construction equipment market.

The market is anticipated to attain a CAGR of ~19% over the forecast period, i.e., 2023-2035.

The major players in the market are Komatsu Ltd., Caterpillar Inc., Hitachi Construction Machinery Co. Ltd., Volvo Construction Equipment, Built Robotics Inc., Royal Truck & Equipment Case Construction Equipment, and others.

The partial/semi-autonomous segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in Asia Pacific is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Autonomous Construction Equipment Market Report Scope
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