Construction Robots Will Be Valued $164 Million By 2030

World Construction Today – The worldwide construction robots market is anticipated to reach a value of $164 million by 2030. The industry had a mere $50 million in market value in 2021, but it is anticipated to grow at a CAGR of 14% for the balance of the decade.

Urbanization, together with a never-before-seen desire for inexpensive housing options and an escalating need for well-connected transit networks, is one of the primary drivers for the acceptance of robots in construction. Around 4.2 billion people, or about 55% of the world’s population, now reside in cities, according to figures from the World Bank. By 2050, that amount is anticipated to double.

Efficiency, quality, and worker safety are further driving forces behind the trend. Robots are able to efficiently reduce and even totally eradicate the risk of human error, and they have proven that they can be used in dangerous areas.

Inconsistency in the picture

Despite the anticipated growth, not all regions are expected to gain equally. According to the report, North America and Europe will hold the highest market shares, with $54 million and $52 million in predicted revenues, respectively.

This is believed to be due in part to the US’s continuous shortage of skilled labour, which has led to businesses resorting to robots to increase output and boost efficiency. The COVID-19 pandemic’s arrival in 2020 increased the tendency, while technological advancements are further diminishing the need for human work.

In Europe, start-ups looking to profit from the labour shortages are the main forces behind the adoption of robotics in the construction industry. With 1.2 robots for every 10,000 workers, the region outpaces both China (0.1) and the US (0.2).

Sector-specific variation is also foreseen, with public infrastructure and 3D construction robotics expected to experience the most increase, at a CAGR of 14%. Commercial and residential building is the industry with the largest anticipated revenues, at $78 million.