SafeAI, Inc. and MACA have entered into a partnership to build Australia’s one of largest autonomous heavy equipment fleets, enabling safer, more effective, and more affordable construction operations.
Hitachi Construction Machinery Co. Ltd. has announced its acquisition of Cobemat SAS. This acquisition is aimed at expanding the company’s presence in France, the third-largest market in Europe.
Author Credits: Rushikesh, Richa Gupta
Report ID: 3001
Published Date: Apr 21, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing investment in the construction and manufacturing unit and rapid urbanization are major factors of growth.
The market size of autonomous heavy equipment is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.
The high cost of equipment, along with the high maintenance and the strict government laws are estimated to be the growth hindering factors for the market expansion.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Komatsu Ltd, Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Volvo Construction Equipment, Built Robotics, Inc., Cyngn, Royal Truck & Equipment, Case Construction Equipment, Deere and Company, and among others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by automation level, product type, application, and by region.
The building construction segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.