Construction Cobots Market Highlights over 2020-2029
The construction cobots market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2029. Extensive research associated with construction cobots in western countries, along with the enhanced productivity, quality, and safety due to the implementation of construction cobots, is expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the growing urbanization worldwide. The increasing population essentially drives the rising demand for construction equipment. The global scenario of people migrating from rural to urban areas has also propelled this demand even further. According to the United Nations Population Division, the global population is projected to reach 9.5 billion by 2050. The urban population is expected to account for a minimum of 64% share of it.
The market is segmented based on function into demolition, bricklaying, 3d printing, concrete structural erection, finishing work, doors and windows installation, and others, out of which, concrete structural erection segment is anticipated to grab the most significant share by the end of 2029 on account of reducing the complexity of the construction operations and is attracting most of the construction firms to adopt cobots for this function. This is estimated to contribute to the growth of the segment during the forecast period.
Global Construction Cobots 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 Asia Pacific is expected to grow at the highest CAGR during the forecast period. APAC has abundant natural reserves distributed among various countries. The mining and construction industries are among the top industries in Australia, China, India, Malaysia, and Vietnam. With growing urbanization and the wide availability of natural resources throughout the region, the mining and construction companies have started using automated equipment, operating software, and communications system to connect and work on-site. Also, the presence of many robotic manufacturing companies in China and Japan and a high growth rate of the market for 3D printers for advanced construction is projected to drive the growth of the construction robot market in APAC.
The global construction cobots 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 construction cobots market includes the following segments:
By Type
- Traditional Robot
- Robotic ARM
- Exoskeleton
By Function
- Demolition
- Bricklaying
- 3D Printing
- Concrete Structural Erection
- Finishing Work
- Doors and Windows Installation
- Others
By Application
- Public Infrastructure
- Commercial and Residential Buildings
- Nuclear Dismantling and Demolition
- Others
Growth Drivers
- Enhanced Productivity, Quality, And Safety Due to The Implementation of Construction Cobots
- Rise in Automation at Construction Sites
- Adoption of 3d Printing in The Construction Industry
Challenges
- Unpredictable Layout of The Construction Sites
- High Equipment Cost
Top Featured Companies Dominating the Market
- Brokk Global
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Komatsu Ltd.
- Ekso Bionics Holdings Inc.
- FBR Ltd
- Conjet AB
- Beijing Borui Intelligent Control Technology Co. Ltd.
- Giant Hydraulic Tech
- Fastbrick Robotics
- Autonomous Solutions
