Daily Management Review

TMR Report Predict Construction Robots Market To Reach $470.61M By 2026


02/28/2019




TMR Report Predict Construction Robots Market To Reach $470.61M By 2026
The global market for construction robots is anticipated to touch a value of $ 470.61 million by 2026, growing at a CAGR of 10.4 per cent between the years 2018 and 2026, concluded a new market research report on the construction robots market issued by Transparency Market Research.
 
The report stated that the growth in the global market of construction robots would be led by growth in demand in the Asia Pacific region and the market is expected to grow in demand at a CAGR of 12.4 per cent between the years 2018 and 2026.
 
With respect to research and development fields for the robotics and automation community, the construction sector was not given much importance in earlier times, even though the industry is amongst the oldest and the largest sector of the global economy. In recent times however, this industry sector has assumed great importance in the research topics for the robotics industry.
 
The report noted that the nature of the highly unstructured work environment is one of the major issues with relation to deployment of robots in the construction industry. Almost every industry in the world is undergoing a change in terms of automation virtually on a daily basis globally, the construction industry could create a path for introduction of commercial robots. Up to 80 per cent of the work in the construction industry can be carried out by robots because the tasks are more repetitive, are more dangerous and monotonous.
 
The report segmented the global construction robots market in to four major segments on the basis of degree of automation, function or tasks, application, and geography.
 
Again, fully autonomous robots and semi-autonomous robots are the two sub segments of the automation segment. The report noted that in 2017, about 74 per cent of the autonomous segment was accounted for by the semi-autonomous robots sub segment. In the period forecast in the report, this sub segment is anticipated to grow by about 11 per cent CAGR. The factors that would drive this segment include the demand for greater and more efficient infrastructure and enhanced levels of monitoring of infrastructure to allow for greater predictive and corrective maintenance.
 
The segments on the basis of geography or regions comprises of the regions of North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2017, the greatest demand for construction robots came from the Asia Pacific region.

One of the factors of this is the abundance of natural resources all across the region which had made mining and construction to be among the largest industries in countries like Australia, China, India, Malaysia, and Vietnam, all part of the Asia Pacific region. Automated equipment, operating software, and communication systems to enable greater and better connection and operations on site have are being used to greater extent by mining and construction companies in the region driven by increasing urbanization and wide availability of natural resources. In 2017, another large chunk of the global construction robots market was accounted for by Europe.
 
(Source:www.globalnewswire.com)






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