Construction robots market projected to reach $420mn by 2025
Construction robots market projected to reach $420mn by 2025 according to the construction robots report. The study by Z Research focuses on the production side and consumption side of construction robots and presents the global market size by manufacturers, regions, type and application, history breakdown data from 2013 to 2018, and forecast to 2025.
Currently the remote-controlled demolition robots are dominating the construction robots market, occupying for over 90% of market share in 2016.
Europe and North America are dominating the construction robots market; in future, China and Japan will play more important roles in future, especially in China, now extremely vibrant and more players are looking for the market opportunities.
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The construction robots market is driven by a current entrepreneurial boom and the real requirements from the world, like construction sites in Japan are enjoying a wave of automation amid an increasing shortage of labourers. According to the Japan Federation of Construction Contractors, there will be 1.28 million fewer construction workers by fiscal 2025 compared with fiscal 2014. In 2015, some 30% of all construction workers were aged over 55, while those below 29 accounted for only about 10%, according to the Ministry of Land, Infrastructure, Transport and Tourism.
The Construction Robots market was valued at $200mn US$ in 2017 and is projected to reach 420 Million US$ by 2025, at a CAGR of 10.0% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size.
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