Global Autonomous Construction Equipment Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Autonomous Construction Equipment Market Report by The Business Research Company covers autonomous construction equipment market drivers and restraints, autonomous construction equipment market size, major players, and the impact of COVID-19 on the autonomous construction equipment market.
The autonomous construction equipment market consists of sales of autonomous construction equipment by entities (organizations, sole traders and partnerships) that manufacture autonomous construction equipment which works on wireless communication technologies, by communicating with radio signals from other equipment receiving commands. The 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. This type of equipment assures benefits such as improved safety, increased productivity, and reduced unscheduled maintenance. The market consists of revenue generated by the companies that are manufacturing autonomous construction equipment by the sales of these products.
The global autonomous construction equipment market reached a value of nearly $8,455.1 million in 2020, having increased at a compound annual growth rate (CAGR) of 3.4% since 2015. The market is expected to grow from $8,455.1 million in 2020 to $16,897.2 million in 2025 at a CAGR of 14.9%. The autonomous construction equipment market is further expected to reach $26,861.6 million in 2020 at a CAGR of 9.7%.
Most of the construction companies are facing heavy equipment operator shortage across the world. Manufacturers are more focused towards technology such as robotics and automation primarily to combat labor shortages along with finishing their tasks faster, reduce wastage and provide high yields with improved quality. Experts believed that one of the best solutions to combat labor shortage is to automate construction equipment for repetitive tasks, especially in remote areas and in locations with significant labor shortages. Therefore, shortage of labour or skilled workforce is driving the autonomous construction equipment market.
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Some autonomous construction equipment market trends include use of artificial intelligence (AI) in the construction industry by construction companies to be more productive. Moreover, use of high-resolution imaging radar sensors serve as eyes for the controllers, allowing for the identification and prevention of collisions with people and surrounding equipment.
Global autonomous construction equipment market segments include:
1) By Automation Level- Partial/Semi-Autonomous, Fully Autonomous
2) By Product Type – Earth Moving Equipment, Material Handling Equipment, Concrete & Road Construction Equipment
3) By Application– Road Construction, Building Construction, Others
4) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Autonomous Construction Equipment Opportunities and Strategies: Forecast To 2030 is one of a series of new reports from The Business Research Company that provides autonomous construction equipment market overviews, analyzes and forecasts market size, share, autonomous construction equipment market players, autonomous construction equipment market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The autonomous construction equipment identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Autonomous Construction Equipment Opportunities and Strategies: Forecast To 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Caterpillar Inc., Komatsu Limited, Volvo Group, Doosan Corporation, Hitachi Construction Machinery Co., Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Autonomous Construction Equipment Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Autonomous Construction Equipment Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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