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Construction Robots Market Estimated to Reach $156.4 Million by 2026

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Construction Robots Market Estimated to Reach $156.4 Million by 2026

July 14
19:05 2021
Construction Robots Market Estimated to Reach $156.4 Million by 2026

Construction Robots Market
The Growth of Construction Projects, Increased Labor Costs, and Advancement of Technologies Have Driven the Growth of the Construction Robots Market

The Global Construction Robots Market is estimated to reach $156.4 million by 2026, growing at a CAGR of 14.6% from 2021 to 2026. In construction works, the robots are used in handling and manipulation of bricks and other heavy blocks. Robots layer the concrete vertically from the structure and apply the concrete instead of human labor. Construction robot industry is gaining traction nowadays and replacing the manual-intensive labor as many renowned startups are implementing new technologies such as AI in robotics. A significant amount of material is wasted in construction process owing to traditional construction process. The construction robots reduces this wastage predominantly in the residential areas. The construction robots are adopted in the recent years due to their efficiency, improved precision and time saving. The growth of construction projects, increased labor costs and advancement of technologies have driven the growth of the construction robots market size.

Construction Robots Market Segment Analysis – By Type

By Type the market is segmented into Collaborative Robots, Articulated Robots, Gantry Robots, Drones, Self Driving Vehicles, Humanoid Laborers. Collaborative Robots are witnessing a significant growth in the market and estimated to grow at a CAGR of 21.44% in the forecast period due the ongoing construction projects in which reinovation and new commercial buildings are an essential part. In October 2019, Torxx Kinetic partnered with Waste Robotics. Through this partnership Torxx Kinetic deployed their material processor in Atlanta. Waste Robotics supplied three WR- C&D sorting robots to sort construction and demolision of waste. In Novermber 2019, an agreement was finalized between Brock Rentals, Inc. and Brokk. Through this partnership Brock Rentals was supposed to upgrade the rental company’s fleet of remote-controlled demolition units with 12 next-generation models, including Brokk 110s, 170s, 200s, and 300s. These partnerships and Agreements fuel the growth of the market. A small Barcelona based startup Scaled Robotics raised a stake of $2.42 Million led by Norwegian Construct Venture and PropTech Fund Surplus in 2019. This funding brought opportunity for the construction robots owing to increase in construction activities in the European region.

Construction Robots Market Segment Analysis – By Application 

By Application the market is segmented into Public and Infrastructure, Commercial, Residential and Others. The commercial sector is witnessing a significant growth in the market and are growing at a CAGR of 18.52% in the forecast period owing to the urbanization, investments in repairing and construction of the buildings, emerging economies and others. The moving robots carry loads and hence reduces the human efforts in the construction activities. On 9th Feb 2018, Fanuc Corporation acquired Tokyo based company Life Robotics Inc. Through this acquisition Fanuc Corporation aimed to implement technologically advanced robots to Life Robotics. Fanuc Corporation expanded its presence in Europe with a total installation of 400,000 construction robots. The governmental investments and upcoming projects are anticipated to further boost the market in the forecast period.

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Construction Robots Market Segment Analysis – Geography

By Geography the Construction Robot Market is dominated by APAC with a market share 36.52% in 2020. APAC is dominating the market owing to the growth of construction activities, growth of the smart cities and others. In countries, China, being a hub for all the construction projects and infrastructural projects. According to National Development and Reform Commission, in China post the COVID-19 pandemic all the major railway projects and waterways projects have resumed with 97% of the major highway projects and 87% of the waterways projects resuming the construction projects. In these public infrastructure the construction robots are very well suited as they are equipped with modular gripper which enables holding, tightening, handling and releasing of objects reducing the manual-intensive labor. These have increased the opportunity for robotic manipulator applications in these countries such as China, Japan, South Korea and others. In India, large percentage of infrastructural projects are managed and financed by the government owing to which there is rapid growth in commercial areas and residential areas resulting in the growth of the market.

Construction Robots Market Drivers

Growth of the construction activities

Due to the growth of construction activities there is demand for these construction robots. Due to the high urban population and high development in the regions such as India, China, Japan and others infrastructure the residential and commercial sectors are facing huge development. Many accidents have been reported in these due to the problems with the old buildings which have called for stricter regulations and codes. Many legislation have been introduced regarding repair of old buildings and construction of new ones as well in terms of safety standards and to increase awareness among customer with respect to technological and safety improvements. This creates a high opportunity for modernization processes in which the construction robots are used for various applications such as bricklaying, painting, loading and bulldozing. According to the U.S States Census Bureau, total investment of $1,355,189 million was made in construction works in U.S. among which $534,170 million were residential and $467,719 million were non-residential investments in June 2020. These construction activities have driven the growth of the market.

Technological Advancements have led to the introduction of advanced construction robots

The technological advancements have led to the introduction of advanced robots that are responsible to carry huge loads and complete a sort of work in very less time. India is ranked third in the world in implementing robots in its construction processes according to the statistics prompted by the International Federation of Robotics. The application of these robotics has increased by 60% in construction industry in year 2020 compared to 2016. Due to the technological advancement these robots have joint torque sensors in each axes with no requirement of external sensors. Climbing robots are introduced nowadays for the construction of tall buildings. The demand for such robots are projected to propel the growth of the market owing to the several advantages for instance highly efficient, powerful, flexible and versatile nature.

Construction Robots Market Challenges

Cost Related Issues:

The requirement of financial resources to adopt new technology is a big challenge hindering the growth of the market. Construction robots that can perform various activities through arms, industrial hardware solutions, PLCs and other technologies need a huge amount of capital investment. The sensors and tools in the robotic system are inseparable parts and leads high cost of the new technology. Construction robots have a high initial cost as compared to wages. These factors are hindering the growth of the market.

Market Landscape

Construction Robots Market is dominated by major top 10 companies such as Brokk, Komatsu Ltd., Construction Robotics, FBR Ltd., nLink, Apis Cor, Advanced Construction Robotics, CyBe Construction, Yingchuang, Building Technique, TopTec Spezialmaschinen GmbH, among others.

Acquisitions/Technology Launches

In July 2020- Hyundai Robotics partnered with Hyundai E&C for joint R&D of construction Robotics Technology. Through this partnership both the companies are working in the development of robots working at construction sites.

In November 2019- Boston Dynamics announced construction partnerships with Holobuilder, Faro and Trimble. Through this partnership custom payloads and tools were built such as Revit and BIM360 for the construction processes.

Key Takeaways

The upsurge in construction activities, urbanization, modernization and others are driving the growth of the market.

The Commercial and Residential sector is witnessing a significant growth in the market owing to the increase in construction of Residential and commercial sector. Owing to the technological advancement these construction robots can calculate necessary materials for bricklaying as they are equipped with intelligent control system aided by CAD.

In APAC, rise in urbanization, growth of the emerging economies, investments in the construction activities and others. In addition, some of the countries in APAC such as Japan, China and others have advanced healthcare sector which have commenced replacing conventional open surgeries with minimal invasive techniques, robots assisted surgeries and single incision procedures.

Related Reports :

A. Industrial Robotics Market

https://www.industryarc.com/Report/10629/industrial-robotics-market.html

B. Service Robotics Market

https://www.industryarc.com/Report/15810/service-robotics-market.html

For more Electronics Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

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