DUBLIN, Feb. 21, 2023 /PRNewswire/ -- The "Autonomous Construction Equipment Global Market Opportunities and Strategies to 2031" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists; marketers and senior management with the critical information they need to assess the global Autonomous Construction Equipment market as it emerges from the COVID-19 shut down.

The global autonomous construction equipment market grew from $7158.8 million in 2016 to $10,015.1 million in 2021 at a compound annual growth rate (CAGR) of 6.9%. The market is expected to grow from $10,015.1 million in 2021 to $18,533.32 million in 2026 at a CAGR of 13.1%, and to $28,864.99 million in 2031 at a CAGR of 9.3%.

Companies Mentioned:

• Caterpillar Inc.

• Komatsu Limited

• Volvo Group

• Hitachi Construction Machinery Co., Ltd.

• Doosan Corporation

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 12 geographies.

• Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.

• Create regional and country strategies on the basis of local data and analysis.

• Identify growth segments for investment.

• Outperform competitors using forecast data and the drivers and trends shaping the market.

• Understand customers based on the latest market research findings.

• Benchmark performance against key competitors.

• Utilize the relationships between key data sets for superior strategizing.

• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis

This report describes and explains the autonomous construction equipment market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.

Growth in the historic period resulted from the strong economic growth in emerging markets, a rise in construction activity, low interest rate environment, increased need for safety in construction and an increase in infrastructure activities.

Going forward, the growing global construction industry, labor shortages, technological advances and growing demand for smart city projects will drive the market growth. Factors that could hinder the growth of the autonomous construction equipment market in the future include safety and cyber security issues and the Russia-Ukraine war.

The autonomous construction equipment market is segmented by autonomy into partial/semi-autonomous and fully autonomous. The partial/semi-autonomous market was the largest segment of the autonomous construction equipment market segmented by autonomy, accounting for 95.9% of the total in 2021. Going forward, the fully autonomous market is expected to be the fastest growing segment in the autonomous construction equipment market segmented by autonomy, at a CAGR of 45.3% during 2021-2026.

The autonomous construction equipment market is also segmented by product type into earth moving equipment, material handling equipment and concrete and road construction equipment. The earth moving equipment market was the largest segment of the autonomous construction equipment market segmented by product type, accounting for 40.9% of the total in 2021. Going forward, the earth moving equipment market is expected to be the fastest growing segment in the autonomous construction equipment market segmented by product type, at a CAGR of 13.9% during 2021-2026.

The autonomous construction equipment market is also segmented by application into road construction, building construction and other applications. The building construction market was the largest segment of the autonomous construction equipment market segmented by application, accounting for 52.4% of the total in 2021. Going forward, the building construction market is expected to be the fastest growing segment in the autonomous construction equipment market segmented by application, at a CAGR of 13.9% during 2021-2026.

Asia-Pacific was the largest region in the autonomous construction equipment market, accounting for 35.9% of the total in 2021. It was followed by North America, and then the other regions. Going forward, the fastest-growing regions in the autonomous construction equipment market will be Asia-Pacific and Africa, where growth will be at CAGRs of 15.2% and 13.5% respectively. These will be followed by the Middle East and North America, where the markets are expected to grow at CAGRs of 13.4% and 12.3% respectively.

The global autonomous construction equipment market is concentrated, with large players. The top ten competitors in the market made up to 78.79% of the total market in 2021.

Caterpillar Inc was the largest competitor with 28.69% share of the market, followed by Komatsu Limited with 23.20%, Volvo Group with 10.58%, Hitachi Construction Machinery Co., Ltd. with 6.76%, Doosan Corporation with 6.00%, CNH Industrial with 2.46%, Deere & Company with 0.94%, Royal Truck & Equipment with 0.05%, Autonomous Solutions Inc with 0.05% and Built Robotics, Inc. with 0.05%.

The top growth potential in the autonomous construction equipment market by autonomy will arise in the partial/semi-autonomous segment, which will gain $6,226.53 million of global annual sales by 2026. The top growth potential in the autonomous construction equipment market by product type will arise in the earth moving equipment segment, which will gain $3,770.88 million of global annual sales by 2026.

The top growth potential in the autonomous construction equipment market by application will arise in the building construction segment, which will gain $4,799.24 million of global annual sales by 2026. The autonomous construction equipment market size will gain the most in the USA at $2,038.18 million.

Market-trend-based strategies for the autonomous construction equipment market include focus on strategic partnerships and collaborations, focus on use of artificial intelligence (AI), focus on product innovations, focus on using high-resolution imaging radar technology, focus on developing more reliable and efficient robotic construction machinery, focus on developing internet of things (IoT)-based autonomous construction machinery and focus on adoption of automated software solutions to improve efficiencies.

Player-adopted strategies in the autonomous construction equipment market include focus on strengthening business operations through strategic acquisitions, focus on developing new products and solutions through strategic collaborations and partnerships, focus on strengthening autonomous construction equipment business through the development of innovative solutions and focus on strengthening business operations through strategic investments.

To take advantage of the opportunities, the publisher recommends the autonomous construction equipment companies to focus on adoption of artificial intelligence, focus on product innovations, focus on robotic construction machinery, expand in emerging markets, set up authorized distributors and sales representatives, focus on strategic collaborations and partnerships, offer competitive pricing, participate in trade shows and events, continue to target fast-growing applications

Key Topics Covered:

1. Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Automation Construction Equipment Market Definition and Segmentations
6.4. Market Segmentation By Autonomy
6.4.1. Partial/Semi-Autonomous
6.4.2. Fully Autonomous
6.5. Market Segmentation By Product Type
6.5.1. Earth Moving Equipment
6.5.2. Material Handling Equipment
6.5.3. Concrete And Road Construction Equipment
6.6. Market Segmentation By Application
6.6.1. Road Construction
6.6.2. Building Construction
6.6.3. Other Applications

7. Major Market Trends
7.1. Strategic Collaborations and Partnerships
7.2. Use Of Artificial Intelligence
7.3. Product Innovations
7.4. Use Of High-Resolution Imaging Radar Technology
7.5. Robotic Construction Machinery
7.6. IoT-Based Autonomous Construction Machinery
7.7. Adoption Of Automated Software Solutions In Construction

8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.3. Market Drivers 2016 - 2021
8.4. Market Restraints 2016 - 2021
8.5. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.6. Market Drivers 2021 - 2026
8.7. Market Restraints 2021 - 2026

9. Global Market Segmentation
9.1. Global Autonomous Construction Equipment Market, Segmentation By Autonomy, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Autonomous Construction Equipment Market, Segmentation By Product Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Autonomous Construction Equipment Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

10. Global Market, Regional And Country Analysis
10.1. Global Autonomous Construction Equipment Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
10.2. Global Autonomous Construction Equipment Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)

For more information about this report visit https://www.researchandmarkets.com/r/7fb4gs

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets 
Laura Wood, Senior Manager 
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630 
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907 
Fax (outside U.S.): +353-1-481-1716

Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/the-worldwide-autonomous-construction-equipment-industry-is-expected-to-reach-28-8-billion-by-2031-at-a-9-3-cagr-301751607.html

SOURCE Research and Markets