Construction Cobots Market size is set to expand at over 20.2% CAGR during the forecast period i.e., between 2024-2036.
Extensive research associated with construction cobots in western countries, along with the enhanced productivity, quality, and safety due to the implementation of construction cobots, is expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the growing urbanization worldwide. The increasing population essentially drives the rising demand for construction equipment. The global scenario of people migrating from rural to urban areas has also propelled this demand even further. According to the United Nations Population Division, the global population is projected to reach 9.5 billion by 2050. The urban population is expected to account for a minimum of 64% share of it.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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The construction cobots market is segmented based on function into demolition, bricklaying, 3d printing, concrete structural erection, finishing work, doors and windows installation, and others, out of which, concrete structural erection segment is anticipated to grab the most significant share by the end of 2029 on account of reducing the complexity of the construction operations and is attracting most of the construction firms to adopt cobots for this function. This is estimated to contribute to the growth of the segment during the forecast period.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Function |
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Application |
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Geographically, the construction cobots market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in Asia Pacific industry is estimated to account for largest revenue share by 2036, led by extensive research associated with construction cobots in western countries, along with enhanced productivity, quality, and safety due to implementation of construction cobots. the mining and construction companies have started using automated equipment, operating software, and communications system to connect and work on-site. Also, the presence of many robotic manufacturing companies in China and Japan and a high growth rate of the market for 3D printers for advanced construction is projected to drive the growth of the construction robot construction cobots market in APAC.
Author Credits: Shweta Patidar
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