A new report suggests that the growth of autonomous equipment will be one solution to rising labour costs
The autonomous construction equipment market is expected to grow by more than US$4 billion (A$6.1 billion) by 2030, according to a new report by Markets and Markets.
Valued currently at US$4.43 billion (A$6.78 billion), Markets and Markets predicts that the autonomous construction equipment market will show significant growth due to rising labour costs and the advantages of autonomous equipment in remote environments – including improved worker safety.
Cost efficiency and reduced emissions are also seen as contributing factors for the predicted growth of autonomous technology.
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As the construction industry transitions towards low-emission machines, Markets and Markets expects electric semi and fully autonomous construction equipment to be the fastest growing product type by 2030.
Although the adoption of electric autonomous construction equipment is still in its infancy stage, Markets and Markets says ongoing key developments in battery technology, enabling longer operational ranges and faster charging times, may help fuel the adoption.
Markets and Markets adds that higher initial investments, regulatory compliance challenges and infrastructure limitations are however some of the restraining factors that may hinder the adoption of autonomous construction equipment.