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Global Construction Robot Market 2019-2025: Market is Expected to Witness a CAGR of Over 20% to Reach ~ $190 MillionDUBLIN, Aug. 1, 2019 /PRNewswire/ -- The "Global Construction Robot Market - Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025" report has been added to ResearchAndMarkets.com's offering. The construction industry is one of the few industries in the world that rely mainly on manual labour due to which the adoption of automation, including robotics, is very less. This trend is expected to change due to the factors mentioned below:
The factors mentioned above are expected to drive the global construction robot market and the market is expected to be ~ $190 million by the end of 2025.
Among regions, North America is the leading revenue generator in the global construction robot market with a major share of the market contributed by the US. APAC is one of the fastest-growing regions in the global construction robot market with major growth being witnessed in China, Japan, and South Korea. Countries which generated a major part of the revenue in the global construction robot market in 2018 include the US, Germany, China, Japan, South Korea, France, and Denmark. Companies including Volvo, Caterpillar, and Komatsu are focused on developing autonomous construction vehicles and equipment for increasing the overall productivity in the construction industry. Another major application of construction robot is witnessed in 3D-printing and 3D-printing robot market is expectd to grow at a high rate during the forecast period mainly due to the growing investment by many smaller pure-play vendors in this market. 3D printing is faster compared to traditional construction activities and there are lesser chances of errors in construction since the building model to be constructed is already designed precisely and fed to the 3D printer. Based on type, global construction robot market is segmented into cartesian robots, cylindrical robots, spherical robots, a humanoid robot, SCARA, delta robots, and articulated robots. Most of the 3D-printing robots are cartesian robots or delta robots and as of 2019, the construction industry is witnessing a growing number of cartesian and delta robots due to the growing adoption of 3D printing in the industry. The forecasted period is also expected to witness an increasing demand for humanoid robots (most of them in prototype phase as of 2018), that can replace workers in construction sites and helps construction companies to fill the gap due to a shortage of workers. Japan's National Institute of Advanced Industrial Science and Technology (AIST) has developed a humanoid robot, HRP-5P in 2018. HRP-5P is expected to tackle issues related to the labour shortage in Japan by carrying out several tasks associated with construction. The global construction robot market is primarily dominated by companies focused on one or more of the construction applications including 3D printing, demolition, bricklaying, and autonomous vehicle/equipment development. Major vendors in the global construction robot market are Built Robotics, Brokk, Caterpillar, Construction Robotics, Fastbrick Robotics, Komatsu, Apis Cor, Blueprint Robotics, Constructions-3D, and Husqvarna. Other prominent vendors in the market include Avant Tecno, Contour Crafting Corporation, CyBe Construction, ICON build, MudBots, S-Squared 3D Printers, Total Kustom, Volvo, and XtreeE. Global construction robot market will grow at a CAGR of over 20% during the forecast period 2019-2025. The aim of this report is to define, analyze, and forecast the global construction robot market based on segments, which include type, application, and region. In addition, construction robot market report helps venture capitalists in understanding the companies better and make well-informed decisions and is primarily designed to provide the company's executives with strategically substantial competitor information, data analysis, and insights about the market, development, and implementation of an effective marketing plan
Key Topics Covered: 1 Executive Summary
For more information about this report visit https://www.researchandmarkets.com/r/3zzghf Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research. Media Contact: Research and Markets View original content:http://www.prnewswire.com/news-releases/global-construction-robot-market-2019-2025-market-is-expected-to-witness-a-cagr-of-over-20-to-reach--190-million-300895006.html SOURCE Research and Markets |