The global construction robot market is anticipated to grow at a considerable CAGR during the forecast period. The growing urbanization in the emerging economies is a key factor driving the demand for construction activities, thereby creating the demand for construction robots. Urbanization is defined as the population shift from rural to urban areas. According to the United Nations Population Division, around 54% of the population lives in the urban area in 2014 that was estimated to be around 3.86 billion. The population is expected to reach 66% by 2050 which will be more than 6 billion people. As per the World Urbanization Prospects by the UN, the largest urban growth will take place in India, China, and Nigeria.
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Managing urban areas is challenging for the government in emerging economies that includes forming and implementing cohesive policies and plans related to the development under smart cities projects. The appropriate use of robotics technology can be used to automate several traditional construction activities such as material handling, dispensing, welding, packing, cutting, and packing. The functionality of robots to perform given tasks in a cost-effective manner along with the significant increase in the construction activities in emerging economies due to rapid urbanization is a key factor fuelling market growth. According to the World Economic Forum, Tokyo, Delhi, Shanghai, Mexico City, Mumbai in 2016, were the largest city in terms of population, globally, with more than 10 million inhabitants or more.
The increased urban population in the cities creates a new standard for better infrastructure requirements. The rising middle-income group in emerging economies such as India, China, and Brazil, and cohesive government policies are some other factors that are driving the global construction robots market during the forecast period. Further, the rising standards of living and growing consumer demand will further boost the growth of the market. The high proportion of urban households, inclination towards eco-friendly homes and government initiatives will boost the global construction robot market in the near future. China has announced a new rural construction plan for the transformation of old cities that will boost the demand for the market in the near future.
Furthermore, from the perspective of population development, the country has a "two children" policy that reflect a growing demand for living space and better construction facilities. The increasing demand for moving to a larger size house by the middle and high-income groups will drive the growth of urban landscapes along with the high-rise residential buildings in the cities across the country.
Global Construction Robot Market Segmentation
By Function
By Type
By Application
Global Construction Robot Market Segmentation by region
North America
Europe
Asia-Pacific
Rest of the World
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