Insights Into The Autonomous Construction Equipment Market’s Growth Opportunities Through 2023-2032 – Includes Autonomous Construction Equipment Market Growth
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a shortage in labor or skilled workforce are expected to drive innovation in autonomous construction equipment manufacturing, thus driving the market during the forecast period.
The global autonomous construction equipment market is expected to grow from $11.86 billion in 2022 to $14.05 billion in 2023 at a compound annual growth rate (CAGR) of 18.5The global autonomous construction equipment market size is expected to grow to $20.33 billion in 2027 at a CAGR of 9.7%.
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- By Autonomy: Partial/Semi Autonomous, Fully Autonomous
- By Product Type: Earth Moving Equipment, Construction Vehicles, Material Handling Equipment, Concrete & Road Construction Equipment
- By Application: Road Construction, Building Construction, Other Applications
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global autonomous construction equipment market in 2021.
Major Market Players in the autonomous construction equipment market include Komatsu Ltd., Caterpillar Inc., Hitachi Construction Machinery Co., Ltd., Volvo Construction Equipment.
Making existing equipment autonomous is a growing trend in the autonomous construction equipment market. Companies are interested in automation but the implementation cost for deployment of technology is high. Therefore, construction companies are planning to rent autonomous machines to stay competitive by using new technology without the potential barriers of high investments. This is mainly avoiding costs associated with purchasing construction equipment. For instance, the cost of owning a commercial truck may add up to roughly $8,500 annually according to the statistics. To reduce the overall expenses, they are working on solutions to make their existing equipment autonomous. Built Robotics, is providing a manufacturer-agnostic solution to clients that wants to automate their machine by which customer could make their machinery autonomous without sacrificing manual operating capabilities. With more machines to be likely to become autonomous in the future, promising developments are on the horizon.
The Autonomous Construction Equipment Global Market Report 2023 provides a autonomous construction equipment market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The autonomous construction equipment market forecast analyzes autonomous construction equipment market size, autonomous construction equipment market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
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