Demolition Robot Market Expected to Reach $1,255.1 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Demolition Robot Market," The demolition robot market size was valued at $286,633.40 thousand in 2021, and is estimated to reach $1,255,172.50 thousand by 2031, growing at a CAGR of 15.7% from 2022 to 2031. Demolition robot is a specially designed robot, which can be operated from a distance with the help of remote control. Use of demolition robot is a safer alternative for the manual demolition of the concrete structure. Demolition robots are available in various sizes, powers, and attachments. They can be fit in small space and can complete the demolition work smoothly. Safety is a major concern in the demolition operation at any construction sight.

The demolition robot market is projected to grow at a significant pace in the coming years, due to integration of advanced technologies such as Internet of Things (IoT), telematics, and artificial intelligence (AI) for the development of efficient and cost-effective demolition robot and introduction of high-performance robots in the global construction machinery market. In addition, the demand for demolition robot industry is growing in the reconstruction and construction services industry, from emerging countries. This is majorly attributed to high demand for reconstructions from urban areas in developed and emerging countries.

Furthermore, increase in labor wages and modernization of construction industry notably contributes toward the market growth. In addition, due to advanced technology and the introduction of high-performance robots into the global construction machinery market, the demolition robot market share is expected to develop in the approaching years. In the restoration and building services industry, demand for demolition robots is increasing, particularly in emerging countries. Furthermore, the market is growing rapidly due to high demand for reconstructions from metropolitan regions in developed and emerging countries.

However, the market is likely to be hampered by lack of understanding about the benefits of demolition robots as well as shortage of experienced labor to operate demolition robots. Furthermore, high initial cost of demolition robots is projected to limit demolition robot market throughout the projection period.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering the demolition robot market growth. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.

The global demolition robot market is segmented into product type, application, sales, and region. Depending on product type, the market is fragmented 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 global demolition robot market forecast is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2021 Asia-Pacific was the highest contributor to the global  market share, however, LAMEA is anticipated to secure a leading position during the forecast period.

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 FINDINGS OF THE STUDY

•        The report provides an extensive analysis of the current and emerging global demolition robot market trends and dynamics. 

•        Depending on product type, the large segment was the largest revenue generator in 2021.

•        By application, the construction segment generated the highest revenue in 2021.

•        As per sales type, the new equipment segment dominated the market in 2021.

•        Region wise, Europe is anticipated to dominate the global demolition robot market throughout the study period.