(MENAFN- America News Hour) Research Nester released a report titled “Construction Cobots Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global construction cobot market in terms of market segmentation by type, application, function, automation and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The construction cobots market is projected to grow with a high CAGR during the forecast period, i.e., 2020-2029 on account of the rise in automation at construction sites is expected to bring a revolution in the construction industry, thereby opening huge opportunities for construction cobots. Automation is rising in each and every field of construction and has provided a flexible way of building and operating facilities by developing automated and robotized construction systems.
The market is segmented by application into public infrastructure, commercial and residential buildings, nuclear dismantling and demolition, and others; among these segments, dismantling and demolition are expected to grow at the highest CAGR during the forecast period. The high growing need for eliminating the presence of human operators in hazardous areas and shielding them from the radiation in nuclear deactivation attribute to the high growth of the market for nuclear dismantling and demolition. The construction cobots players have also incorporated many features in the demolition cobots, which provide easy access, promote safety, and increase efficiency in confined spaces, making it advantageous over the handheld breakers or other substitutes used for demolition purposes.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the construction cobot market in the APAC is expected to grow at the highest CAGR during the forecast period. APAC has abundant natural reserves distributed among various countries. The mining and construction industries are among the top industries in Australia, China, India, Malaysia, and Vietnam. With growing urbanization and wide availability of natural resources throughout the region, the mining and construction companies have started using automated equipment, operating software, and communications system to connect and operate on-site. Also, the presence of a large number of robotic manufacturing companies in China and Japan and a high growth rate of the market for 3D printers for advanced construction, are driving the growth of the construction robot market in APAC.
Increasing Technology Advancements and Adoption of 3D Printing in the Construction Industry to Drive to Drive Market Growth
The technological advancements have led to the introduction of advanced cobots responsible for carrying huge loads and completing a sort of work in significantly less time. India is ranked third in the world in implementing cobots in its construction processes, according to the statistics prompted by the international federation of robotics. The application of these cobots increased significantly in the construction industry in 2020 compared to 2016. Moreover, the rapid adoption of 3D printing globally is an alternative to the high cost of skilled labor. Besides, there is minimum wastage of building material in the 3D printing process, thus driving the market's growth globally.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global construction cobot market which includes company profiling of Komatsu Ltd., Ekso Bionics Holdings Inc. , FBR Ltd , Conjet AB, Beijing Borui Intelligent Control Technology Co. Ltd., Giant Hydraulic Tech, Fastbrick Robotics, Autonomous Solutions. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the construction cobot market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
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Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.
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