Global Autonomous Construction Equipment Market Size 2024, Forecast To 2033
11 Mar, 2024
The autonomous construction equipment market has witnessed robust growth, expanding from $14.05 billion in 2023 to $15.41 billion in 2024, reflecting a compound annual growth rate (CAGR) of 9.7%. This growth in the historic period is attributed to the robust economic expansion in emerging markets, escalating infrastructure development, an increased emphasis on safety in construction, and a parallel rise in industrialization. Looking ahead to 2028, the market is poised for continued strength, projected to reach $22.31 billion at the same CAGR of 9.7%. Anticipated factors fueling this growth include rapid urbanization, heightened construction activities, and augmented government support. Key trends in the forecast period encompass a focus on advanced construction equipment, increased investments, advancements in autonomous robot construction, IoT-based autonomous construction machinery, new product launches, technology advancement, and strategic partnerships and collaborations.
Global Autonomous Construction Equipment Market Key Driver
Heavy equipment operator shortages are a prevalent challenge faced by construction companies worldwide, prompting manufacturers to prioritize technology such as robotics and automation. This focus aims to address labor shortages, expedite project completion, minimize wastage, and enhance overall productivity and quality. Experts suggest that automating construction equipment, especially in remote or labor-scarce areas for repetitive tasks, is a viable solution to combat workforce shortages. Consequently, the shortage of skilled labor is a key factor propelling the growth of the Autonomous construction equipment market, as manufacturers seek innovative solutions to optimize construction processes.
Get A Free Sample Of The Global Autonomous Construction Equipment Market ReportGlobal Autonomous Construction Equipment Market Segments
The autonomous construction equipment market covered in this report is segmented –
1) By Product Type: Earth Moving Equipment, Construction Vehicles, Material Handling Equipment, Concrete And Road Construction Equipment
2) By Autonomy: Partial Or Semi-Autonomous, Fully Autonomous
3) By Application: Road Construction, Building Construction, Other Applications
By Geography:The regions covered in the autonomous construction equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
Asia-Pacific was the largest region in the autonomous construction equipment market in 2023. North America was the second-largest region in the autonomous construction equipment market share. The regions covered in the autonomous construction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Autonomous Construction Equipment Industry Players
Caterpillar Inc, Komatsu Limited, Volvo Group, Hitachi Construction Machinery Co., Ltd., Doosan Corporation, CNH Industrial, Deere & Company, Royal Truck & Equipment, Autonomous Solutions Inc, Built Robotics, Inc., Yingchuang Building Technique Co., XMCG, Kobelco Construction Machinery Co. Ltd, Tadano Ltd, Liebherr, Sany Heavy Industry Co., Ltd, Xuzhou Construction Machinery Group Co., Ltd, Zoomlion India Pvt. Ltd., China Communications Construction Company, JCB India, Fastbrick Robotics, Fujita Corporation, Toyota Industries, Takeuchi Manufacturing, Lingong Heavy Machinery Co. Ltd, Terex Corporation, Wacker Neuson, Bobcat, SafeAI, Aecon, Case, Cummins, Hitachi
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Autonomous Construction Equipment Market Overview
The autonomous construction equipment refers to equipment includes sensors such as lidar and cameras in order to recognize humans and obstacles, and the system also uses geofencing to keep machinery within the construction sites.
Autonomous Construction Equipment Global Market Report 2023 provides data on the global autonomous construction equipment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The autonomous construction equipment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.