Construction Cobots Market Size

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.