DUBLIN--(BUSINESS WIRE)--The "Construction Robot Market by Type (Traditional, Robotic Arm, and Exoskeleton), Automation, Function, Application (Public Infrastructure, Commercial and Residential Buildings, Nuclear Dismantling and Demolition), & Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The construction robot market is expected to reach USD 166.4 million by 2023 from USD 76.6 million in 2018, at a CAGR of 16.8% between 2018 and 2023.
This growth can be attributed to enhanced productivity, quality, and safety due to the implementation of construction robots and growing urbanization worldwide. However, high equipment cost restricts the growth of the construction robot market.
Traditional robots accounted for the largest share of the overall construction robot market based on type in 2017. The technologically advanced traditional robots are being used as a replacement for the old construction equipment/machines in most of the construction functions. Also, the traditional robots are serving the similar function as served by heavy construction equipment in an innovative manner, which is leading to the large adoption of these robots by the construction industry.
The market for the concrete structural erection function is expected to grow at the highest CAGR during the forecast period. The robots designed for the concrete structural erection construct prefabricated concrete components or units that can directly be assembled on site to form an entire building structure. Such automated building of concrete structure with the help of robots has reduced the complexity of the construction operations and is attracting most of the construction firms to adopt robots for this function.
Public infrastructure accounted for the largest share of the construction robot market based on application in 2017. The growth of the market for this application can be attributed to the increasing urbanization worldwide and growing partnerships among construction firms for developing sustainable infrastructure solutions with an aim to improve people's quality of life.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Construction Robot Market, By Type
7 Construction Robot Market, By Automation
8 Construction Robot Market, By Function
9 Construction Robot Market, By Application
10 Construction Robot Market, By Region
11 Competitive Landscape
12 Company Profiles
- Ekso Bionics
- Construction Robotics
- Fastbrick Robotics
- Autonomous Solutions
- TopTec Spezialmaschinen
- Giant Hydraulic Tech
- Yingchuang Building Technique Co. (WinSun)
- Alpine Sales and Rental
- Beijing Borui Intelligent Control Technology
- Apis Cor
- Advanced Construction Robotics
- CyBe Construction
For more information about this report visit https://www.researchandmarkets.com/research/dnmmbb/construction?w=4