Global Autonomous Construction Equipment Market. Size, Share & Trends Analysis Report, By Type, By Product Type, By Technology, By Application, By Region Forecasts, 2023-2032

Global Autonomous Construction Equipment Market. Size, Share & Trends Analysis Report, By Type, By Product Type, By Technology, By Application, By Region Forecasts, 2023-2032

Global Autonomous Construction Equipment Market was valued at US $ 8.73 billion in 2023 and is expected to reach US $ 15.92 billion by 2032 growing at a CAGR of 7.80 % during the forecast period 2024 – 2032.

Growing urbanisation is responsible for this market's expansion. Municipalities will be under pressure to reduce emissions and improve air quality as a result of increased urbanisation. Additionally, the advent of electric and hybrid powertrains will enhance the growth opportunity brought about by the widespread use of autonomous construction machinery. In comparison to diesel equipment, these powertrains emit very little pollution. An apt illustration is the growing urbanisation rate in India, which is expected to exceed % per year.

Over the course of the projected period, the market for automatic construction equipment will expand significantly due to the rapid advancement of technology in this sector. The integration of machine learning algorithms, GPS, sensors, and other cutting-edge technologies has enabled heavy machinery to function autonomously. These technologies can improve the degree of accuracy and precision of machines that perform repetitive activities. In the same year, the value of autonomous construction equipment surpassed twenty billion. Growing urbanisation is the reason behind this market's expansion. There will probably be more pressure on municipalities to reduce emissions and improve air quality as a result of urbanisation. Moreover, increased market participation may have a significant impact on the adoption of hybrid and electric powertrains in autonomous equipment. These are significantly cleaner than the majority of ""diesels,"" and equipment driven by them emits roughly 98% less pollution than conventional diesel-powered machinery. For instance, in 2021, India's annual pace of urbanisation exceeded one percent.

Additionally, during the projected period, technical advancements in the field of autonomous construction equipment will accelerate, significantly fuelling the market's expansion. These days, heavy machinery can run on autopilot thanks to technology like sensors, GPS, machine learning, and others. These technologies enable the customisation of machinery to carry out ordinary activities with greater accuracy and precision.

“Building Construction segment, by application, to be dominating market from 2023 to 2030.”

Over the coming years, the building construction industry is anticipated to represent a market valued at around 50% of its total value. The growing global population is the reason for this industry segment's expansion. The increasing global population drives up demand for homes, businesses, and infrastructure. These are the main ones that, for a variety of reasons, necessitate the use of self-driven construction machines in modern times. Furthermore, because autonomous devices employ complex sensors and algorithms, they are also capable of performing tasks with extreme accuracy. As a result, the construction process can be improved in quality with less need for revision.

“Partial/Semi-Autonomous segment, by type, to be fastest growing market from 2023 to 2030.”

The autonomous construction equipment market's partial/semi-autonomous category is anticipated to expand at the fastest compound annual growth rate (CAGR). The reason for the growth is the lack of appropriately skilled personnel throughout the world. When a heavy piece of equipment, whether in its entirety or in part, performs a function on its own, it is said to be partially or semi-autonomous. These industries, which include mining and construction, are now lacking in skilled labour. Because semi-autonomous or autonomous heavy equipment operates without the need for human operators and completes tasks faster and more precisely than human operators, it boosts worker productivity. It is anticipated that in the long run, this will provide the industry strong growth potential. The report estimates that in 2026, the semi-autonomous sector will produce roughly 6.3 trillion US dollars.

“Material Handling Equipment segment, by product type, to be fastest growing market from 2023 to 2030.”

Over the course of the projection period, the market is anticipated to grow quickly, which will boost the need for material handling equipment and cranes. Road construction equipment, earthmoving equipment, crushing and screening equipment, material handling equipment and cranes, and civil engineering equipment make up the equipment market sectors. Given the exponential development of demand for cranes and other equipment designed to raise massive constructions or materials across multiple industries, it is projected that the market for material handling machinery and cranes would expand. Telescopic handlers, forklifts, and AGVs are examples of material handling systems used in construction and warehouse settings.

“Asia Pacific to be fastest growing region in Autonomous Construction Equipment market.”

It is anticipated that over time, the Asia Pacific autonomous construction equipment market would account for the largest portion of the industry, with approximately 35% of revenue, by the end of forecast period. The creation of smart cities in the area is mostly to blame for this increase. In this sense, increased population density housing and other essential infrastructure are required as a result of urbanisation and the construction of new buildings in the city. Because of this, there is a greater need than ever for equipment like bulldozers, cranes, and excavators that can help with a variety of infrastructure projects. Additionally, as metropolitan areas expand, there will be a greater need for digitization in the building industry. Furthermore, this region's expanding agricultural sector and increased air pollution would spur market expansion.

Autonomous Construction Equipment Landscape

The competitive landscape of the Autonomous Construction Equipment market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Autonomous Construction Equipment technology holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Autonomous Construction Equipment market is highly competitive, with numerous companies vying for market share. Prominent companies in the Autonomous Construction Equipment Market include:

Caterpillar Inc., Built Robotics Inc., Volvo Construction Equipment, Case Construction Equipment, Royal Truck & Equipment Case Construction Equipment, Cyngn Inc., and others.

Recent developments:

In April 2023, Trimble and Caterpillar inked a strategic agreement that called for the combined development and marketing of self-driving construction equipment. Trimble and Caterpillar have partnered to combine Trimble's machine control, guidance, and positioning technology with Caterpillar's construction equipment knowledge.

Dynamic Perception, a startup that creates perception software for autonomous vehicles, was acquired by Komatsu in March 2023. The acquisition will enhance Komatsu's autonomous construction equipment's functionality and safety.