Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The market of Autonomous Construction Equipment saw a huge upshoot in the last few years, based on the advancing technology and the increasing search for efficiency within construction industry. Among the most important market trends is that of disconnected features integration into construction equipment. As automation rapidly advances, construction equipment producers are using such technologies as GPS, sensors, and artificial intelligence to create unattended jobs. This development is redefining the old schoolbuilding practice methods by increasing precision, decreasing chance of human error, and boosting productivity.
Given the fact of the rising popularity of self-propelled construction equipment, issues existing in the industry can be dealed with by accordingly. Safety is always the number one priority during construction projects and that’s why the autonomous equipment is developed to solve the risks of human manned equipment. These self-suffice systems are put with intricate sensors that can detect barriers, monitor the environment and make instant decisions to prevent collisions among others. As the market executes, we are noticing the growing inclination of companies towards autonomy because they give a lot of attention to worker safety as well as minimization of incidents on the site.
Besides cost-effectiveness, marketized developments in autonomous construction equipment are driven by other factors. These modern machines are performance orientated with reduced fuel consumption, reduced operating expenses and increased project speed. With uses of autonomous systems, complex construction tasks can be accomplished with higher accuracy and consistency, such as efficient use of resources, consequently. It not only assures cost reduction while at work but also helps in project completion within a shorter time, therefore making this equipment attractive for construction companies who want to save on their bottom line by investing in this equipment.
Being ecofriendly is one of the leading trends in construction sphere and autonomous technology is in line with this ecocentric approach. Compared with traditional labor manned machinery that generates a lot of pollution, autonomous construction machinery has been designed to be power efficient and emits lesser pollution when in use. Given the intensifying global programs and regulartions that aim for sustainablity to be intensified, the adoption of automated construction equipments can be expected to accelerate, owing to the industry's intent to minimize its environmental impact.
Autonomous Construction Equipment Market Highlights:
Global Autonomous Construction Equipment Market Overview
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
Autonomous Construction Equipment Market Trends
-
Increase in infrastructure construction worldwide is driving the market growth
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.
Autonomous Construction Equipment Market Segment Insights
Autonomous Construction Equipment Autonomy Insights
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.
Autonomous Construction Equipment Type Insights
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.
Autonomous Construction Equipment Application Insights
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
Autonomous Construction Equipment Regional Insights
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.
Autonomous Construction Equipment Key Market Players& Competitive Insights
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.
The Caterpillar Cat® 340 UHD (Ultra High Demolition) machine, which boasts enhanced autonomous capabilities, was introduced in 2024. The most recent autonomous control technologies from Caterpillar are fitted into this model specifically for demolition work, increasing accuracy and safety.
Komatsu introduced the Smart Construction Autonomous Dozer in 2023; it incorporates cutting-edge machine learning and GPS technologies. The purpose of this autonomous dozer is to increase accuracy and efficiency on construction sites by automating grading and excavating processes.
Key Companies in the Autonomous Construction Equipment market include
-
Volvo Construction Equipment
-
-
Komatsu Ltd.
-
-
Hitachi Construction Machinery Co. Ltd.
-
Case Construction Equipment
-
Cyngn
-
Royal Truck & Equipment
Autonomous Construction Equipment Industry Developments
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.
Autonomous Construction Equipment Market Segmentation
Autonomous Construction Equipment Autonomy Outlook
-
Semi-Autonomous
-
Fully-Autonomous
Autonomous Construction Equipment Type Outlook
-
Earth Moving Equipment
-
Construction Vehicles
-
Material Handling Equipment
-
Concrete and Road Construction Equipment
Autonomous Construction Equipment Application Outlook
-
Road Construction
-
Building Construction
-
Others
Autonomous Construction Equipment Regional Outlook
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
-
Rest of the World
-
Middle East & Africa
-
South America
-
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
