Autonomous Construction Equipment Industry - Regional Synopsis
APAC Market Statistics
Autonomous construction equipment market share in Asia Pacific is predicted to be the largest with a share of about 35% by the end of 2037. The market growth in the region can be attributed to significant investments being made to initiate construction activities and the development of dams, airports, special economic zones, highways, and other infrastructural developments which are projected to increase the chance of using autonomous construction equipment. For instance, the total spending on airports present in Asia Pacific is expected to surpass USD 1 trillion by 2041. These initiatives mainly intend to improve the overall economy of the region by boosting trade and connectivity and attracting the key players operating in the autonomous construction equipment business to set up their companies or invest in the expansion of their companies to the region.
North American Market Forecast
The North American autonomous construction equipment market is estimated to account for 24% by 2037. The extensive construction activities that are undertaken by Canada are considered to be the major factor for market growth in the region. The number of immigrants to Canada has increased considerably in recent years which is attracting significant investment from the regional government for the development of construction infrastructure to address the changing demands of both the immigrants and the citizens. This factor is estimated to increase the utilization rate of autonomous construction equipment for building infrastructures. It is estimated that the construction of 83,481 units of new homes started only in the Ontario province of Canada in 2022. Another factor for market growth in the region is the rapid technological advancements and the rising use of specialized equipment to optimize construction activities in the region.
Europe Market Forecast
The autonomous construction equipment market in the European region will observe moderate CAGR through 2037. The major factors for market expansion in the region are the significant escalation in building residential properties in Europe region along with the many initiatives being undertaken by the regional governments to improve the infrastructure. All these factors add up to encourage key players in the construction industry to enter into partnerships with each other to accelerate the development of advanced autonomous construction equipment.
