Autonomous Construction Equipment Market

The study encompassed four primary tasks to determine the scope of the autonomous construction equipment market. Initially, extensive secondary research was conducted to gather data on the market, its related sectors, and overarching industries. Subsequently, primary research involving industry experts across the value chain corroborated and validated these findings and assumptions. Employing both bottom-up and top-down methodologies, the complete market size was estimated. Following this, a market breakdown and data triangulation approach were utilized to determine the size of specific segments and subsegments within the market.

Secondary Research

Secondary sources for studying the autonomous construction equipment market directly depend on the end-use industry's growth. Autonomous construction equipment market sales and end-use industry demand are derived through secondary sources such as Autonomous Vehicle Industry Association (AVIA), Association of Equipment Manufacturers (AEM), Indian Electric off-highway vehicle Manufacturers Association (ICEMA), Environmental Protection Agency (EPA), AUSTMINE, Indian Construction Equipment Manufacturers Association, Construction Equipment Association (CEA), Construction Equipment Rental Association (CERA), National Mining Association (NMA), Tractor and Mechanization Association (TMA), corporate filings such as annual reports, investor presentations, and financial statements, and paid repository. Historical production data has been collected and analyzed, and the industry trend is considered to arrive at the forecast, further validated by primary research.

Primary Research

In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, such as CXOs, vice presidents, directors from business development, marketing, product development/innovation teams, and related key executives from various key companies. Various system integrators, industry associations, independent consultants/industry veterans, and key opinion leaders were also interviewed.

Primary interviews have been conducted to gather insights such as autonomous construction equipment market sizing estimation and forecast, future technology trends, and upcoming technologies in the autonomous construction equipment market. Data triangulation of all these points was done using the information gathered from secondary research and model mapping. Stakeholders from the demand and supply sides have been interviewed to understand their views on the points mentioned above.

Primary interviews have been conducted with market experts from the demand-side (end-use industries) and supply-side (autonomous construction equipment providers) across four regions: North America, Europe, Asia Pacific, and the Rest of the World. Approximately 70% and 30% of the primary interviews were conducted on the OEMs and component manufacturer sides. Primary data has been collected through questionnaires, emails, and telephonic interviews. After communicating with primaries, we have strived to cover various departments within organizations, such as sales and operations, to provide a holistic viewpoint in our report. After interacting with industry experts, we have also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This and the in-house subject matter experts' opinions have led us to the conclusions described in the remainder of this report.

Company tiers are based on the supply chain (OEMs: autonomous construction & mining, farm tractors. Component Manufacturers: LiDAR, RADAR, Vision System Providers. The revenue of the company is not considered.
Note: Others include sales, marketing, and product managers.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

As mentioned below, a detailed market estimation approach was followed to estimate and validate the value and volume of the autonomous construction equipment market and other dependent submarkets:

• The bottom-up approach was used to estimate and validate the autonomous construction equipmentmarket's size by equipment type. The country-level sales of each equipment type (Dozer, Dump Truck, Loaders, Excavators, Haul Trucks, Compactors, and Farm tractors) were referred from country-level manufacturing associations and secondary sources (company publications, articles, etc.).
• The forecast for this equipment is based on factors such as country-wise macro-economic indicators, infrastructure investment, farm mechanization, and government spending.
• The penetration of autonomous equipment as a percentage of each total sales of the respective equipment is referred from secondary sources and then validated through Primary Interviews with industry experts (B).
• The forecast of each autonomous equipment is based on factors like feasibility & usability of the equipment being autonomous, OEM-wise developments/investments in the equipment, and consumer readiness, among others.
• The country-level autonomous construction equipment by equipment type (volume) were then multiplied by the country-level average selling price (ASP) of each equipment type to get the country-level equipment type market by value.
• The summation of the country-level market would give the regional level, and then further addition provides the global autonomous construction equipment market by equipment type.
• The top-down approach is used to estimate the propulsion type, level of automation, and power output at the regional level.
• All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative and qualitative data.
• The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

Autonomous Construction Equipment Market : Bottom-Up Approach

Autonomous Construction Equipment Market : Top-Down Up Approach

The top-down approach was followed to determine the market size by propulsion type, by power output, and by level of automation in terms of volume and value for autonomous autonomous construction equipment market. Country-level autonomous construction equipment market by equipment type has been derived through the bottom-up approach. This country-wise market is summed up to get regional and global markets

The market sizing for propulsion type, by power output, and level of autonomy is derived using a top-down approach, where the regional autonomous construction equipment market is referred . The country-wise OEM-level model mapping is aligned with the respective equipment types. For instance, number of autonomous tractors manufactured, their propulsion, autonomy level, power output etc. is mapped for each OEM. The forecast of the propulsion, power output, and level of autonomy is based on factors such as company’s announcements & investments on electrification, power output, and autonomy, government regulations/subsidies to support electrification etc. The same assumption-based penetrations are validated with industry experts.

The average selling price of electric equipment is derived at regional level for each equipment type using secondary sources (which usually provides the incremental cost as a 10-20% of conventional equipment) and then multiplied with regional volumes to arrive at the regional values.

Data Triangulation

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified by primary sources. All parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data has been consolidated and enhanced with detailed inputs and analysis from MarketsandMarkets and presented in the report.