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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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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         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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