Construction Robots Market Size

Construction Robots Market Analysis

The Construction Robots Market size is estimated at USD 383.11 million in 2024, and is expected to reach USD 787.48 million by 2029, growing at a CAGR of 15.5% during the forecast period (2024-2029).

The growing urbanization, industrialization penetration, and advanced construction & demolition operation factors are driving market revenue growth.

• The increasing focus of construction organizations on reducing building materials' resources and material waste during construction will drive the adoption of the construction robot market. Further, Autodesk identifies that while it is difficult to get exact figures of the waste produced on a typical construction site, several construction organizations have thought that nearly 30% of the total weight of building materials transported to a building site gets wasted.
• Further, reducing the construction time of the projects is aiding the growth of construction robots. Printstones, an Austria-based manufacturer of mobile 3D printing robots for construction, has launched its latest manufacturing robot. A modular design indicates the Baubot, which easily allows third-party customer modifications. Described as a 'multi-functional construction robot,' the rover-Esque device goes beyond concrete 3D printing. It qualifies for many flexible manufacturing processes such as material transportation, welding, milling, screwdriver, cutting, painting, and even bricklaying.
• Further, in May 2022, Dusty Robotics raised USD 45 million to announce the Industry's First Hardware, Software, and Services Solution to Destroy Construction Errors Through Advanced Robotics. FieldPrinter automates digital floor techniques on construction sites by printing them full-size on the floor through a mixture of hardware, software, and services.
• With the growing need for new infrastructure, automated construction solutions are expected to gain momentum over the coming years and impact the market positively. According to Redshift, the industry must build 13,000 buildings daily from now to 2050 to support an expected population of seven billion living in urban areas.
• Furthermore, high costs associated with acquiring and maintaining the technologies are one of the challenges in implementing construction robotics. The purchase, along with the implementation of the technologies, is costly. Therefore, only firms with a good turnover and market competition can afford these technologies. In addition to this, automation technologies need to be updated and maintained, and most of them are expensive to do it. The maintenance cost for the new robotics equipment is higher because of the exceptional technician's needs.
• The past outbreak of COVID-19 adversely affected the construction industry, with construction work coming to a standstill in the initial months of the lockdown. However, the product demand witnessed an increased interest in adoption from the industry owing to the safety benefits offered by the technology.