Autonomous Construction Equipment Market Growth Drivers and Challenges:
Growth Drivers
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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.
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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
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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.
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Strict Government Standards
- Lack of Skilled Labour
Autonomous Construction Equipment Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
10.7% |
|
Base Year Market Size (2025) |
USD 11.94 billion |
|
Forecast Year Market Size (2035) |
USD 33 billion |
|
Regional Scope |
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