CONSTRUCTION ROBOTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Construction Robots Market Restraints:

High cost of setting up and equipment to hamper the market growth

The cost associated with maintenance and acquiring technologies such as construction robots is high, which creates challenges in implementing these robots. The purchase of these robots along with the performance of the tools adds into the overall cost for the manufacturer. Thus, firms and companies having good turnover and market competition are the only ones to afford these construction robots. This, in turn is expected to hinder growth of the global construction robots market over the forecast period.

Unpredictable layout of construction sites to restrain the market growth

Different projects have different layouts of construction sites, due to which, the process of robotic construction requires to be predefined for robotizing the whole project. The construction companies lack specific plans for implementing semi-autonomous or autonomous construction robot solutions. These solutions are new for several companies and need major changes; thus, the companies are not clear about integration of robotics in the designing and planning phase. This factor is thus, expected to hinder growth of the global construction robots market over the forecast period.

Global Construction Robots Market Opportunities:

Rise in adoption of robots in construction industry around the world is expected to offer growth opportunities in the global construction robots market over the forecast period. In the next 10 years, this industry will be transformed with growing use of robots at the construction site for supplying material and helping in construction work. In the near future, the additive manufacturing used for developing infrastructure parts, will be done on job site with bigger and enhanced 3D printing robots. For instance, in January 2020, the largest 3D printed building having five stories and 6,000 sq. ft of floor space was opened in Dubai. Thus, these factors are expected to offer several growth opportunities in the market.

Rise in urban construction in metropolitan cities is expected to create opportunities in the market over the forecast period. Major share of urban construction in these cities is subjected to strict environmental regulations, this in turn is anticipated to drive the adoption of construction robots around the world. Along with this, the industry is seeking solutions for reducing wastage of materials. For instance, as per several experts, construction companies could replace only 25% of their projects with 3D printed structures, which will reduce the demand for labor by 70% and cost by 90%. Thus, this is likely to benefit the global construction robots market in the coming future.

Global Construction Robots Market Drivers:

Rapidly growing urbanization around the world to propel the market growth.

In recent years, there has been a dramatic rise in urbanization all over the world, and it is growing at an exponential rate. For instance, as per the World Bank data, nearly 55% of the global population, or 4.2 billion individuals, live in cities. This trend will grow in the coming years, and by 2050, the number of urban population globally is likely to double with seven out of 10 people around the globe living in the cities. With increasing urbanization, the demand for affordable housing is increasing. This, in turn, is driving construction activities, which is expected to boost the demand for construction robots in the coming future.

Stringent regulations by governments regarding worker’s safety to augment the market pace.

Construction industry often faces high number of accidents, due to which it is subjected to stringent regulations. For instance, as per OSHA, one in five deaths among workers in the U.S. is in the construction industry of the country. Furthermore, as per the Bureau of Labor Statistics, total 1,061 construction laborers died in the U.S. on the job site. Thus, governments around the world are implementing regulations for equipment vendors too, in order to make construction sites and workplaces safe. This, in turn, is expected to drive growth of the global construction robots market over the forecast period.