Construction Robots Market Expected to Reach US$ 470.61 Mn by 2026
Robotics is a branch of engineering that deals with the development, design, construction, and operating of a robot. Robotics comprises electrical, mechanical, and computer engineering. Robotics is widely categorized into service robots and industrial robots. Service robots are further classified into professional robots, personal robots, and domestic robots. Application of the robotics technology in a wide range of production processes across the globe has led to rise in the adoption of the technology at a rapid pace. In the last few years, robots are also being utilized in the construction industry. The construction robots market is projected to expand at a CAGR of 10.4% during the forecast period and reach value of US$ 470.61 Mn by 2026.
The construction industry is one of the least automated industries, as it features manual-intensive labor as a prime source of production. Whether it is new commercial construction, demolition, or renovation, robots can play an important role in a building’s life cycle. Being a highly unautomated industry, the construction industry can witness a major impact with the emergence of construction robots. As construction companies are looking for automation of more and more tasks in order to increase efficiency and productivity, the demand for construction robots is likely to increase gradually in the near future.
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In addition to this, implementation of robotics in the construction industry eliminates human issues such as laziness, mistakes, damage, conflicts with co-workers, and the need for security and health insurance. Specialized robots can also work in dark, small, airless spaces that are dangerous for humans, or on the facades of tall buildings, without any unsteadiness. Moreover, robots can function 24×7, in a wide range of conditions. They eradicate potential risks arising from lawsuits, accidents, etc., as there are no workers onsite.
Attracted by anticipated growth of the global market and underlying latent demand, several players are expanding their business through strategic mergers and acquisitions and partnerships. For instance, in February 2017, Brokk AB, a leading manufacturer of remote-controlled demolition machines, acquired Aquajet Systems AB, a global supplier of hydrodemolition robots. The acquisition expands application solutions offered by Brokk in the construction & demolition industry. Some of the prominent players operating in the global construction robots market are Brokk AB, TopTec Spezialmaschinen GmbH, Construction Robotics, Komatsu, Ekso Bionics, Fujita, Fastbrick Robotics, Autonomous Solutions, Giant Hydraulic Tech, Yingchuang Building Technique Co. (WinSun), Alpine Sales and Rental, and Beijing Borui Intelligent Control Technology.