Autonomous Construction Equipment Segmentation
Product Type (Earth Moving Equipment, Material Handling Equipment, Concrete, Road Construction Equipment)
The earth-moving equipment segment is set to gain largest market share of about 41% by 2037. The market growth is driven by increased undertaking of commercial and residential construction projects by the Asia Pacific government is expected to encourage the usage of autonomous equipment. It is evident that the increase in construction projects is the result of the growing industrialization and urbanization of a region, which is expected to contribute to market growth indirectly. According to the World Bank, the urban population comprised 56% of the total world population in 2019. Furthermore, the escalation in the quarrying and mining activities for bridging the gap between oil and demand is also anticipated to make use of earthmoving equipment the most. Some mostly used earthmoving equipment include backhoe loaders, mini excavators, crawler excavators, and skid-steer loaders.
Application (Road Construction)
The building construction segment is expected to garner a significant share of around 46% by 2037. One of the major factors for segment growth is the rising demand for building construction by the burgeoning population for sustenance and survival which requires efficient autonomous construction equipment for the smooth conduction of building construction processes. Furthermore, with rapid urbanization, the need for building construction has considerably grown in the past few years. This has attracted the attention of the government and key players to boost economic growth in the future.
Our in-depth analysis of the global market includes the following segments:
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By Product Type |
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By Application |
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