Autonomous Construction Equipment Market size was valued at USD 20.97 billion in 2024 and is set to exceed USD 203.45 billion by 2037, registering over 19.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of autonomous construction equipment is evaluated at USD 24.17 billion.
The growth of this market can be ascribed on the back of increasing urbanization. As urbanization grows, there might be pressure to reduce emissions and improve air quality in cities. Moreover, autonomous construction equipment might play a significant role in this by utilizing electric and hybrid powertrains, which emit less pollution than diesel-powered equipment, which is predicted to contribute to the market expansion. For instance, in India, the annual pace of urbanization grew by over 1% in 2021.
Moreover, increasing technological advancement in the field of autonomous construction equipment is estimated to actively contribute to market growth during the projected period. Such as the introduction of sensors, GPS, and machine learning algorithms, among other technological advancements, have made it feasible for heavy machinery to function independently. With the use of these technologies, machines can be programmed to carry out daily duties more accurately and precisely.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
19.1% |
|
Base Year Market Size (2024) |
USD 20.97 billion |
|
Forecast Year Market Size (2037) |
USD 203.45 billion |
|
Regional Scope |
|
Application (Road Construction, Building Construction)
The building construction segment in the autonomous construction equipment market is estimated to acquire the largest revenue share of 50% during the forecast time period. The growth of this segment is attributed to the growing population worldwide. Such as, the world's population continues to grow, and the need for additional housing, businesses, and infrastructure is growing, driving demand for autonomous construction equipment in the construction sector. Additionally, thanks to advanced sensors and algorithms, autonomous devices can perform activities with a high degree of consistency and precision, minimizing the need for rework and improving overall quality in the construction activity.
Type (Partial/Semi-Autonomous and Fully Autonomous)
Autonomous construction equipment market from the partial/semi-autonomous segment is predicted to account for the highest CAGR by the end of 2037. This growth is driven by a growing shortage of skilled workers around the world. Partially or semi-autonomously heavy equipment has the technical ability to automatically perform certain tasks without direct human control. Some sectors, such as mining and construction, are suffering from shortages of skilled workers. Semi-autonomous or semi-autonomous heavy equipment reduces the need for human operators and can perform some tasks faster and more accurately than human operators, increasing productivity and efficiency on the job site. This is poised to create lucrative growth opportunities for the sector in the coming years. As of the study, the sales of the semi-autonomous segment are predicted to reach 6.3 billion by the end of 2026.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
Product Type |
|
|
Application |
|
APAC Market Forecasts
Asia Pacific industry is poised to dominate majority revenue share of 35% by 2037. The growth of the market can be attributed majorly to the development of smart cities in the region. For instance, as cities in the region continue to grow, there is a demand for new buildings and infrastructure to accommodate the increasing population, which in turn increases the need for construction equipment such as bulldozers, cranes, and excavators to assist infrastructure projects.. Further, the need for digitization in the construction sector is projected to rise as cities grow. In addition, the region's growing agriculture sector, and rising air pollution, are also anticipated to boost the market growth during the forecast period.
North American Market Statistics
The North America autonomous construction equipment market is estimated to grow significantly during the projection time period. The growth of the market can be attributed to the availability of large companies in the region. Further, several businesses are investing in the study and development of autonomous heavy machinery, which is a fast-growing technology.
Author Credits: Richa Gupta
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?