What Are The 5 Takeaways From The Autonomous Construction Equipment Market Overview 2024
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
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.
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 On The Autonomous Construction Equipment Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3794&type=smp
What Are The Key Trends That Influence Autonomous Construction Equipment Market Share Analysis?
The trend of making existing equipment autonomous is growing in the autonomous construction equipment market. Given the high costs associated with deploying new technology, construction companies are exploring options to rent autonomous machines to avoid significant investments. For example, owning a commercial truck can cost around $8,500 annually. To minimize expenses, companies are seeking solutions to retrofit their existing equipment with autonomous capabilities. Built Robotics offers a manufacturer-agnostic solution that allows clients to automate their machinery while retaining manual operation options. With advancements expected, more machines are likely to become autonomous in the future.
Which Market Players Are Driving Growth In The Autonomous Construction Equipment Market?
Major companies operating in the autonomous construction equipment market report are 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
How Is The Global Autonomous Construction Equipment Market Segmented?
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
Read The Full Autonomous Construction Equipment Market Report Here
The Autonomous Construction Equipment Global Market Report 2024 provides an overview of the autonomous construction equipmentmarket 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 and their market positions.
The Table Of Content For The Autonomous Construction Equipment Market Include
1. Autonomous Construction Equipment Market Executive Summary
2. Autonomous Construction Equipment Market Segments
3. Autonomous Construction Equipment Market Size And Template Market Growth Rate
4. Key Autonomous Construction Equipment Market Trends
5. Major Autonomous Construction Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Autonomous Construction Equipment Market
26. Top Autonomous Construction Equipment Companies
27. Autonomous Construction Equipment Market Opportunities And Strategies
28. Autonomous Construction Equipment Market, Conclusions And Recommendations
29. Appendix
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
