PUBLISHER: Allied Market Research | PRODUCT CODE: 1566888
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566888
Rebar Robotics Market
The rebar robotics market was valued at $76.4 billion in 2023 and is projected to reach $116.4 billion by 2033, growing at a CAGR of 4.3% from 2024 to 2033.
Rebar robotics is a technology implied in the construction industry to automate the processing and positioning of rebar. Rebar or reinforcing bar is a steel bar integrated into the buildings to enhance their tensile strength. Robotics facilitates the cutting, bending, and assembling of rebars with high precision and speed. The key benefits of using rebar robotics includes enhanced work productivity and reduced risk on labor as the handling of heavy rebars is a hazardous task.
With increasing demand for speed and efficiency in construction projects, rebar robotic technology is witnessing a notable surge in demand. This leads to a reduction in construction timelines, hence driving the growth of the market. In addition, the implementation of stringent regulation pertaining to labor rights and safety, the adoption of rebar robotics at construction sites is witnessing an upsurge. Currently, the trend of assimilating rebar robotics with other technologies such as additive manufacturing or formwork systems is acquiring traction. Such assimilations are anticipated to enhance the capabilities of robots and amplify productivity at construction sites.
However, the acquisition and operation of rebar robotics is a highly expensive process, which restricts the small-scale firms and budget-sensitive construction projects from its adoption. This hampers the growth of the rebar robotics market. Furthermore, in case of contact with unsuitable construction materials such as chemicals or water, the chances of errors or damage in rebar robotics remain significantly high. This limits the usage of rebar robotics and restrains the growth of the market. Contrarily, manufacturers are striving to develop rebar robots with the ability to function in unfavorable conditions of construction sites, which is expected to present new avenues for the development of the market. For instance, Advanced Construction Robotics-a U.S.-based provider of robotic equipment-launched "IronBOT." It is a rebar installing robot that does not require pre-programming or calibration and works efficiently even in rain.
Segment Review
The rebar robotics market is segmented into type, technology type, application, and region. On the basis of type, the market is bifurcated into onsite and offsite. As per technology type, it is divided into ground-based and ariel. Depending on application, it is categorized into residential and non-residential. Region wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Key Findings
On the basis of type, the onsite segment accounted for a high market share in 2023.
As per technology type, the ground-based segment dominated the market in 2023.
Depending on application, the non-residential segment held a high share of the market in 2023.
Region wise, Asia-Pacific is projected to be the highest revenue generator by 2033.
Competition Analysis
The significant players of the global rebar robotics market include Turner Construction Company, Boston Dynamics, ABB Ltd., KUKA AG, Rebartek, Skanska AB, Doka Group, Schuff Steel Company, Peri Group, LLC, and Trimble Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, to strengthen their foothold in the competitive market.
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