Construction Robots Market Size, Share & Trends Analysis Report By Function, By Type (Traditional Robot, Robotic Arm, Exoskeleton), By End-use (Industrial, Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030

Construction Robots Market Size, Share & Trends Analysis Report By Function, By Type (Traditional Robot, Robotic Arm, Exoskeleton), By End-use (Industrial, Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030

Construction Robots Market Growth & Trends

The global construction robots market size is anticipated to reach USD 3,542.8 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 17.5% from 2023 to 2030. The global adoption of advanced construction robot technologies has been prompted by the need for more environmentally friendly and affordable construction with reduced environmental impact and skills & labor. However, only a few construction firms have currently adopted robotic automation, indicating that market players have a significant opportunity to transform the industry through innovative and advanced product launches. Furthermore, due to the security risks of the construction industry and the increasing number of fatal accidents, there is a growing need for the adoption of robotic automation systems.

Construction tasks' inherent complexity, labor-intensive work models, and uniqueness of design necessitate significant human expertise and effort. These construction industry challenges can be overcome by developing computer vision and implementing advanced technologies such as machine learning and artificial intelligence to increase the efficiency and automation capacity of construction robots.

The COVID-19 pandemic has hastened the pace of modernization across the construction industry, especially due to the urgency of the construction of hospitals owing to the shortage of bed capacity. Although the adoption of construction robots during the pandemic was minimal, there was a huge positive impact on awareness regarding the adoption of robotic automation technologies due to its multiple benefits.

Construction Robots Market Report Highlights

• Based on function, the material handling segment accounted for the major revenue share of 32.4% in 2022 and is anticipated to grow at the highest CAGR of 18.0% over the forecast period. Surged adoption of automation technologies to reduce labor costs and increase workload management efficiency is attributed to the segment growth
• Based on type, the robotic arm segment captured the highest revenue share of 67.8% in 2022. Availability of funding, the increasing need to manage large payloads, and consistent launches of innovative products by market players are factors contributing to the increasing adoption of robotic arm technologies across the construction industry. For instance, in January 2022, FANUC CORPORATION, a provider of robotics technology, announced the launch of its new industrial robotic arm with a payload capacity of 1,000 kg. The serial-link construction of the M-1000iA allows the robot to move in more directions. It can rotate its arm backward or extend it upright, which typical heavy-payload robots with a parallel-link mechanism cannot do
• Based on end-use, the industrial segment accounted for the largest market share of 38.9% in 2022 and is expected to maintain its majority over the forecast period with a CAGR of over 17.0% during the forecast period. Rapid urbanization and industrialization, coupled with the increasing population are the factors driving the growth
• Asia Pacific held the highest market share of 30.3% in 2022 and is expected to retain its position over the forecast period. The significant presence of market players such as ABB, YASKAWA India, FANUC CORPORATION, and Saisun is one of the high-impact rendering drivers for the regional growth
• Asia Pacific is expected to grow at the highest CAGR of over 18.0% during the forecast period owing to the rise in investments in the construction industry and increasing awareness of robotic automation advantages. The increasing development of technological infrastructure coupled with the high need for modernization is expected to fuel the market growth in the region
• The market players are undertaking various initiatives such as partnerships, acquisitions, mergers, and product launches to expand their reach in the global market. For instance, in November 2022, Acceleration Robotics, a provider of customized hardware for robots, announced the acquisition of TechnoYantra, a robotics consulting organization. Acceleration Robotics aims to extend its reach in the Asian market through this acquisition

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