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INDUSTRIAL AUTOMATION & EQUIPMENT

Autonomous Heavy Equipment Market Segmentation by Autonomous Type (Partial/Semi-Autonomous and Fully Autonomous); by Product Type (Earth Moving Equipment, Material Handling Equipment, Concrete and Road construction Equipment); and By Application (Road Construction; Building Construction and Others) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Extensive insights into the Growth of Autonomous Heavy Equipment Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Autonomous Heavy Equipment Market Highlights 2020-2029

The autonomous heavy equipment market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Increasing investment in the construction and manufacturing unit and rapid urbanization is expected to fuel this market's progress. The growth of the market can also be attributed to the increasing innovation in the field of technology, for instance, involvement of robots. Mortenson, a U.S.-based, leading renewable energy contractor and developer, in June 2019 has declared a strategic partnership with a San Francisco-based developer of autonomous robotic equipment technology to build robotics. Robotics upgrade kits for common construction equipment such as skid steers, bulldozers, and excavators.

Covid-19 has impacted the market due to shortage in supply chain, shortage in skilled labour and various restriction from government. However, improvement in economy post COVID-19 are expected to drive the market.

Autonomous-Heavy-Equipment-Market

On the basis of type, the market is segmented into partial/semi-Autonomous and fully autonomous. Out of which, partial/semi-autonomous holds the highest share in the market due to its lower cost and less maintenance. Although, with the increasing technology, fully autonomous is also expanding its business. CLICK TO DOWNLOAD SAMPLE REPORT 

On the basis of product type, the market is segmented into earth moving equipment, material handling equipment, and concrete and road construction equipment, out of which earth moving equipment holds the highest revenue in the market because they exhibit a wide range of earthworks like removing dirt and rocks, demolition works, laying foundations, and grading soil. There are various types of earth-moving equipment like excavators, backhoe loaders, bulldozers, skid-steer loaders, and trenchers.

On the basis of application, the market is segmented into road construction, building construction and others. However, building construction holds a major share in the market. Increasing population, increasing investment in industrialization, and rapid urbanization is to fuel the market. Although, with all this, road construction is also expanding its business.

Autonomous Heavy Equipment Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period, while India is projected to be the fastest-growing country in the region for the heavy construction equipment market owing to the increasing population, rapid urbanization and increasing investment of government and private organization in industrialization. The Indian government introduced various schemes like Housing for all by 2022, PMAY, and Smart Cities Mission which are increasing the demand of autonomous heavy equipment market in India.

Although, in 2021, the market in North America is evaluated to occupy the largest share in terms of revenue, followed by Europe. Due to the presence of large companies in the region.

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The global autonomous heavy equipment market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

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

By Automation Level

  • Partial/Semi Autonomous
  • Fully Autonomous

By Product Type

  • Earth Moving Equipment
  • Material Handling Equipment
  • Concrete and Road construction Equipment

By Application Type

  • Road Construction
  • Building Construction
  • Others

Growth Drivers

  • Increasing investment in the construction and manufacturing unit.
  • Rapid urbanization.
  • Increasing innovation in the field of technology.

Challenges

  • High cost of equipment and high maintenance.
  • Strict government regulations.
  • Limited number of skilled labours.

Top Featured Companies Dominating the Market

  • Deere and Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Komatsu Ltd
  • Caterpillar Inc.
  • Hitachi Construction Machinery Co. Ltd.
  • Volvo Construction Equipment
  • Built Robotics Inc.
  • Cyngn
  • Royal Truck & Equipment
  • Case Construction Equipment

 

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