Demolition Robot Market Research, 2031
The global demolition robot market size was valued at $286,633.40 thousand in 2021, and is projected to reach $1,255,172.50 thousand by 2031, growing at a CAGR of 15.7% from 2022 to 2031. Demolition robot is a manifestation of robotics in the construction industry. It is a specially designed robot, which serves as a safer alternative for manual demolition. Demolition robots are complex assemblies of drills, breaker, loader buckets, and crusher. They are available in variety of sizes, capacity, attachments, and mode of operation of buildings and other structures. These robots are compact in size as compared to traditional demolition equipment, and hence fit in small space. Demolition of old construction is a risky task, and demolition robots minimize the probability of accidents to great extent.
Rise in activities such as reconstruction, renovation, and remodeling due to increase in number of old constructions is expected to drive the growth of the global demolition robot market. In addition, rapid urbanization and industrialization in the developing countries such as India, China, Brazil, Bangladesh, Egypt, and Russia has resulted in the need of new construction and refurbishment of old construction, which is expected to drive the growth the market during the forecast period. Further, rise in adoption of robots in the construction industry due to savings in cost and time is expected to accelerate the growth of the market during the forecast period.
However, lack of awareness about the advantages of demolition robots and dearth of skilled manpower for operating demolition robot are expected to hinder the growth of the market during the forecast period. In addition, high initial cost of demolition robots is expected to restrain the demolition robot market growth during the forecast period.
Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of demolition robot as well as their demand in the market, thereby restraining the demolition robot market share. Conversely, industries are gradually resuming their regular manufacturing and services. This is expected to lead to re-initiation of demolition robot companies at their full-scale capacities, which is likely to help the demolition robot industryto recover by end of 2021.
Integration of Internet of Things (IoT), telematics, and artificial intelligence (AI) for the development of efficient and cost-effective demolition robots is expected to provide lucrative opportunities for the expansion of the demolition robot market during the forecast period.
The demolition robot market is segmented into Product Type, Application and Sales Type. Depending on product type, the market is segregated into mini, medium, and large. On the basis of application, it is categorized into construction, mining, and tunneling. By sales, it is classified into new equipment sales and aftermarket sales. Region wise, the demolition robots market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of product type, in 2021 the large segment dominated the demolition robot market, in terms of revenue, whereas the mini segment is expected to witness growth at the highest CAGR during the forecast period. As per application, in 2020, the construction segment led the demolition robot market, however, the mining segment is expected to exhibit highest CAGR in the near future. By sale type, the new equipment segment led the market in 2020, in terms of revenue; however, the aftermarket segment is anticipated to register highest CAGR during the forecast period. Region wise, Europe garnered the highest revenue in 2020; however, LAMEA is anticipated to register highest CAGR during the forecast period.
COMPETITION ANALYSIS
The major players profiled in the demolition robot market analysis include Brokk Global, Conjet AB, Epiroc AB, Giant Hydraulic Tech Co., Ltd., Hitachi, Ltd., Husqvarna Group, Komatsu Ltd., Sherpa Mini-loaders B.V., Tei Rock Drills, and TopTec Benelux BVBA. Major companies in the market have adopted product launch, partnership, business expansion, and acquisition as their key developmental strategies to offer better products and services to customers in the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the demolition robot market forecast from 2021 to 2031 to identify the prevailing demolition robot market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global demolition robot market trends, key players, market segments, application areas, and market growth strategies.
Demolition Robot Market Report Highlights
| Aspects | Details |
 By Product Type |
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 By Application |
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 By Sales Type |
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 By Region |
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 Key Market Players | Hitachi, Ltd., Sherpa Miniloaders BV, Epiroc AB, Giant Hydraulic Tech Co., Ltd., Brokk Group, Husqvarna Group, TEI Rock Drills, Conjet AB, TopTec Benelux BVBA, Komastu Ltd. |
Analyst Review
According to the insights of the CXOs of leading companies, demolition robots have gained high traction in demolition of old construction, bridges, and building. The demolition robots are widely used for construction, mining, and tunneling applications. Demolition robots are witnessing increased adopted by different new industries as changing consumer behavior and changing construction industry are driving different construction and mining companies to address demand for personalization of both products and delivery.
In addition, different robotics companies are signing partnership agreement with construction companies to promote the use of robots in construction industry. For instance, in August 2021, Rugged, a robot manufacturing company, signed a partnership agreement with construction firm named Consigli for the construction of 10-story building in the U.S. Moreover, different companies are launching new demolition robots with new features. For instance, in April 2021, Printstones, an Australian start-up, launched a new multifunctional construction robot with a new modular design approach that could drive through doors, climb stair, and could be powered by an electric energy.
Furthermore, different companies are improving the function providing customization options for its robotics machines. For instance, in September 2020, Brokk Inc. developed high heat customization options for the older demolition robots to improve the life span and performance for metal processing and other high-temperature applications. Major key players such as Rockwell Automation Inc. and Fanuc Corporation are expanding their offerings in new regions to offer better services to the customers in demolition robots market.
The global demolition robot market size was valued at $286,633.4 thousand in 2021, and is expected to reach $1,255,172.6 thousand by 2031, with a CAGR of 15.7% from 2022 to 2031.
The forecast period considered for the global demolition robot market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.
To get latest version of global demolition robot market report can be obtained on demand from the website.
The base year considered in the global demolition robot market report is 2021.
The top companies holding the market share in the global demolition robot market report include Brokk Global, Conjet AB, Epiroc AB, Giant Hydraulic Tech Co., Ltd., Hitachi, Ltd., Husqvarna Group, Komatsu Ltd., Sherpa Mini-loaders B.V., Tei Rock Drills, and TopTec Benelux BVBA.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
By type, the large segment is the highest share holder of demolition robot market.
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