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Construction robot market grows with 9.5% CAGR for 2020-2026

September 11, 2020  - By
Photo: ThossapholiStock/Getty Images Plus

Photo: ThossapholiStock/Getty Images Plus

The global construction robot market was valued at USD 231.5 million in 2018 and is expected to reach USD 464.8 million by 2026, growing at a compound annual growth rate (CAGR) of 9.5% during the forecast period, according to an InForGrowth market report.

The construction industry is one of the least automated industries that features manual-intensive labor as a primary source of productivity. However, with the advancement in technology, the construction industry is utilizing robots to excel at repetitive tasks in a controlled environment.

Construction robots have a major impact on the construction industry. The construction industry is looking to automate more and more tasks for the sake of productivity and efficiency, which in turn is increasing the demand for construction robots.

The use of robots has grown considerably with increasing speed, efficiency, safety and profit concerns. Construction robots have provided a transformative experience for the entire industry and have helped in replacing or improving existing processes, making them more proficient as well as more precise.

Companies are deploying these new commercially viable robots in various applications such as 3D printing of large structures, disaster relief situations, construction of tall structures, and for assisting workers performing laborious tasks. These robots have helped in automating laborious and dangerous tasks to keep laborers away from hazardous activities and enable them to focus on more productive work.

3D printing. Moreover, the evolution of 3D printing in the construction industry is expected to create opportunities in the market. This will further enhance the market size of the global construction robot market. An increase in research and development activities to minimize the cost of robots will also enhance the market size over the forecast period.

However, the high cost associated with the deployment of robotic solutions is expected to hamper the growth of the global construction robot market during the forecast period.

Key findings. Based on the product type, the traditional robot segment accounted for the largest market size in the global construction robot market in 2018.

Based on automation, the semi-autonomous robot segment accounted for the largest market size in the global construction robot market in 2018.

Based on function, the demolition robot segment held the largest share in the global market in 2018.

Based on applications, the public infrastructure segment is expected to dominate the market during the forecast period. Europe accounted for nearly 30% share of the global market in 2018.

Recent industry news. In September 2019, Built Robotics closed a US$ 33 million Series B funding round, led by Next47, the global venture fund backed by Siemens, for autonomous construction equipment.

In August 2019, John Sisk & Son used MULE at Sisk’s residential Wembley Park E05 site in London to reduce fatigue and injuries among workers and increase productivity.

In June 2019, Boston Dynamics launched an inspection robot named SPOT, which is mounted with 3D cameras to inspect and map construction sites and identify hazards and work progress.

Browse the full report with TOC.

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About the Author: Tracy Cozzens

Senior Editor Tracy Cozzens joined GPS World magazine in 2006. She also is editor of GPS World’s newsletters and the sister website Geospatial Solutions. She has worked in government, for non-profits, and in corporate communications, editing a variety of publications for audiences ranging from federal government contractors to teachers.