CONSTRUCTION ROBOTS MARKET ANALYSIS

Construction Robots MarketSize and Trends

The global construction robots market size was valued at USD 56.9 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 16.67% from 2023 to 2030.  Increased safety regulations in the construction sector are another driving factor for the construction robots market. The rising labor shortages in the construction industry is another key factor influencing the growth of the construction robots market. Technological advancements such as 3D printing are also expected to help in flourishing the construction robots market.

Figure 1: Global Construction Robots Market Share (%), By Region, 2023

Global Construction Robots Market Trends:

Shortage in skilled laborers leading to demand for robotic solutions is a growing trend

Due to the shortage of skilled workforce in construction industry, there is an increase in demand for robotic solutions in the industry. In the coming years, 3D printing robots along with masonry robots will be in higher demand compared to skilled workforce in construction sector across the globe. Thus, this trend is expected to fuel growth of the global construction robots market during the forecast period.

Rise in demand for heavy construction equipment automation is a major trend

The demand for automation of heavy equipment in construction industry is growing all over the world, along with this, the demand for drilling, driverless demolition, and earth-moving equipment is anticipated to show higher investment and demand in the coming future. For instance, Built Robotics Software received US$ 33 million investment in 2020. Developments like these are expected to grow over the years to come. Thus, the global construction robots market is expected to show strong growth in the near future.