LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global construction and demolition robots market predicts a CAGR of over 9% during the period 2018-2022.
The report segments the global construction and demolition robots market by application (heavy/civil construction, building construction, and nuclear dismantling and demolition), by products (construction robots and demolition robots), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global construction and demolition robots market, according to Technavio industrial automation researchers:
- Lack of manpower in developed countries: a major market driver
- Growth in skyscrapers and mixed-use building projects: emerging market trend
- EMEA dominated the global construction and demolition robots market with 55% share in 2017
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Lack of manpower in developed countries: a major market driver
The growing labor shortage faced by construction firms and contractors across several developed markets, such as the US, Europe, and Australia is a major challenge in the construction market. The shift of manpower from jobs that require physical labor toward more intellectual and white-collar jobs has added to this challenge. The young generation is not interested in construction jobs which is leading to less number of young workers to replace those who are retiring from the construction industry. It is becoming very difficult for the businesses in the construction industry to hire workers for site jobs in these markets. This proves to be a major factor driving the adoption of construction robots during the forecast period.
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Growth in skyscrapers and mixed-use building projects: emerging market trend
The growing need for infrastructure, such as condominiums, offices, multi-family homes, hospitals, and hotels can be attributed to the rise in the global population and increasing urbanization. This has resulted in the demand for land that is beyond availability. This has given rise to skyscrapers, which are tall and habitable buildings with multiple floors that can accommodate many floors in a relatively smaller area of ground surface due to their immense heights.
According to a senior analyst at Technavio for research on robotics, “There are several on-going high-rise projects, which are expected to be completed during the forecast period. Several of these skyscraper projects are mixed-use developments. They can be used for urban developments with a blend of residential, commercial, cultural, institutional, or entertainment uses, where all the functions are physically and functionally integrated, thus, providing pedestrian connections. Construction activities are expected to give rise to demand for construction and demolition robots during the forecast period.”
Global market opportunities
In terms of regional dominance, EMEA led the global construction and demolition robots market, followed by APAC and the Americas in 2017. EMEA is expected to continue dominating the market. APAC will witness the highest growth due to huge investments in infrastructure development during the forecast period.
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