Autonomous Construction Equipment Market Size was valued at USD 8.1 Billion in 2022. The Autonomous Construction Equipment industry is projected to grow from USD 8.73 Billion in 2023 to USD 15.92 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.80% during the forecast period (2023 - 2032). Increased demand for autonomous technology, increased awareness of the environment, and an increase in occupational injuries are the key market drivers accelerating market expansion.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for autonomous construction equipment is being driven by the increase in infrastructure construction worldwide. On building sites, earth can be excavated and graded using autonomous dozers, excavators, load carriers, and haul trucks. Workers can be followed by little rovers that are carrying materials and tools. In order to facilitate synchronized actions, the vehicles are frequently connected.
Additionally, the need to update current infrastructure, growing urbanization, population growth, technology improvements, and a greater emphasis on creating environmentally friendly projects are the primary drivers of the industry's expansion. In addition, the market for construction equipment has expanded steadily as a result of a rise in the sales of new equipment brought on by an increase in building initiatives and planned fresh investments in the industry. Numerous technological developments are being made for more reliable and optimal products in the construction equipment sector. Technologies for autonomous operation are gradually being adopted by the off-highway sector. Due to the repetitive, physical, accurate, and time-sensitive nature of the tasks involved, autonomous machinery is a good fit for construction activities.
This means that automation of construction equipment is becoming more and more necessary. Using radio waves from other devices to block communication technologies, receive commands, and report problems, manufacturers are developing wireless, autonomous construction machines. Higher safety, less unscheduled maintenance, and increased production are all guaranteed. As a result, the industry would have economic opportunities due to the increasing popularity of Autonomous Construction Equipment. As a result, futuristic development prospects in the construction equipment market are anticipated due to the increasing popularity of automation and electrification. Different import tariffs are imposed by nations, nevertheless, in order to stop unfair trade practices and support homegrown manufacturers. In order to reduce trade barriers and tariffs and open up a single market or free trade area, countries typically sign bilateral trade agreements with other countries.
For instance, as per the UK Construction Leadership Council, the National Infrastructure Pipeline is set to receive about USD 645.7 billion in projected investments, encompassing 700 projects. The demand for construction equipment would be driven during the projection period by such planned investments and expanding construction activity for infrastructure development. Thus, result in driving the Autonomous Construction Equipment market revenue.
The Autonomous Construction Equipment market segmentation, based on Autonomy includes Semi-Autonomous, and Fully-Autonomous. The semi-autonomous segment dominated the market. The world's increasing scarcity of skilled labor is the main driver of this expansion. Heavy machinery that is partially or semi-autonomous is technically capable of carrying out specific duties without needing direct human supervision.
The Autonomous Construction Equipment market segmentation, based on Type, includes Earth Moving Equipment, Construction Vehicles, Material Handling Equipment, and Concrete and Road Construction Equipment. The earth moving equipment category generated the most income. Earthmoving Equipment comes in a variety of forms. Bulldozers are the most often utilized among them since they are effective at moving and grading the earth. A bulldozer's front dozer blade removes soil and trash.
The Autonomous Construction Equipment market segmentation, based on Application includes Road Construction, Building Construction, and Others. The building construction segment dominated the market. The world population is expanding, which is responsible for this segment's growth. The need for more homes, businesses, and infrastructure is rising along with the population, for example, which is increasing demand for Autonomous Construction Equipment in the building industry.
Figure1: Autonomous Construction Equipment Market, by Application, 2022&2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Autonomous Construction Equipment market area will dominate this market, Autonomous solutions have become more popular in the region because of its sophisticated technology infrastructure and emphasis on efficient and safe construction.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: AUTONOMOUS CONSTRUCTION EQUIPMENT MARKET SHARE BY REGION 2022 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Autonomous Construction Equipment market has the second-largest portion of the market because of the numerous efforts the regional administrations are making to upgrade the infrastructure. Further, the German Autonomous Construction Equipment market maintained the most market share and the UK Autonomous Construction Equipment market was the European market with the quickest rate of growth.
The Asia-Pacific Autonomous Construction Equipment Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. The region's smart city development is largely responsible for the market's growth. Moreover, China’s Autonomous Construction Equipment market maintained the most market share, and the Indian Autonomous Construction Equipment market was the Asia-Pacific region's fastest-growing market.
Leading market players are making huge investments in R&D to broaden their product lines, which will contribute to the market expansion for Autonomous Construction Equipment. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, Autonomous Construction Equipment industry must provide reasonably priced goods.
One of the main business strategies employed by manufacturers is to manufacture locally in order to reduce operating expenses in the Autonomous Construction Equipment industry to help customers and expand the market segment. In recent years, the Autonomous Construction Equipment industry has provided some of the infrastructure sector's biggest benefits. Major players in the Autonomous Construction Equipment market, including Volvo Construction Equipment, Caterpillar Inc., Komatsu Ltd., Case Construction Equipment, and others, invest in operations for research and development in an effort to improve market demand.
Volvo Construction Equipment, or Volvo CE, is a significant corporation that designs, produces, and distributes equipment for the building and associated sectors. It is a company and subsidiary of the Volvo Group. The founding members of Volvo Construction Equipment were three men: Carl Gerhard and Jean Bolinder, brothers, and Johan Theofron Munktell. In December 2020, Volvo commenced shipping its ECR25 Electric compact excavators to clients exclusively powered by electricity.
Caterpillar Inc. (CAT) is an American company which manufactures equipment for mining, construction, and other engineering applications, Construction equipment is manufactured by the largest firm in the world. When the Holt Manufacturing Company and the C. L. Best Tractor Company merged in 1925 to form the new Caterpillar Tractor Company, which was headquartered in California, Caterpillar Inc. was born. The company adopted its current name when it reorganized itself as a Delaware corporation in 1986. In June 2022, Citing "the company's best strategic interest," the corporation announced intentions to relocate its worldwide headquarters from Deerfield, Illinois, to Irving, Texas, starting later this year.
Volvo Construction Equipment
Komatsu Ltd.
Hitachi Construction Machinery Co. Ltd.
Case Construction Equipment
Cyngn
Royal Truck & Equipment
June 2023: Caterpillar Inc.'s new Cat 995 Wheel Loader climbed to 19% greater. It will also provide an extra 8% efficiency increase and reduce hourly fuel use by up to 13%.
May 2023: Hitachi Construction Machinery made a financial investment in aptpod, Inc. and established a business relationship. In the future, Hitachi Construction Machinery will co-create real-time "digital twins"1 for construction sites utilizing Autopod's high-speed loT platform. It will also design systems for the digital twins' autonomous and remote control operation.
March 2023: Komatsu purchased Dynamic Perception, a business that creates 3D perception software for self-driving cars. Komatsu's Autonomous Construction Equipment will operate more safely and effectively as a result of the acquisition.
Semi-Autonomous
Fully-Autonomous
Earth Moving Equipment
Construction Vehicles
Material Handling Equipment
Concrete and Road Construction Equipment
Road Construction
Building Construction
Others
North America
Europe
Asia-Pacific
Rest of the World
Middle East & Africa
South America
| Report Attribute/Metric | Details |
| Market Size2022 | USD 8.1 Billion |
| Market Size 2023 | USD 8.73 Billion |
| Market Size2032 | USD 15.92 Billion |
| Compound Annual Growth Rate (CAGR) | 7.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Autonomy, Type, Application, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Volvo Construction Equipment, Caterpillar Inc., Komatsu Ltd., Built Robotics Inc., and Hitachi Construction Machinery Co. Ltd. |
| Key Market Opportunities | Heightened attention to cutting-edge building machinery |
| Key Market Dynamics | Investing in the construction equipment market is the focus of many businesses. |
Autonomous Construction Equipment Market Highlights:
Frequently Asked Questions (FAQ) :
In 2022, the size of the worldwide market for Autonomous Construction Equipment was estimated to be USD 8.1 billion.
During the forecast period of 2023–2032, it is anticipated that the market would grow at a CAGR of 7.80%.
North America held the most market share worldwide.
Hitachi Construction Machinery Co. Ltd., Volvo Construction Equipment, Built Robotics Inc., Komatsu Ltd., and Caterpillar Inc. are the major companies in the market.
In 2022, the market was led by the Semi-Autonomous category.
The sector with the biggest share of the worldwide market was building construction.
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
