Autonomous Construction Equipment Market

The autonomous construction equipment market is projected to grow from USD 4.40 billion in 2024 to USD 9.77 billion by 2030 at a CAGR of 14.2%. The growth of this market can be attributed to the increase in infrastructure development and mining activities and rising automation in vineyards across the Americas and Europe.

Major OEMs of autonomous construction equipment are from the US and Europe. The top 5 OEMs of the autonomous construction equipment market are Deere & Company (US), CNH Industrial (Netherlands), Caterpillar (US), Komatsu Ltd (Japan), and Liebherr (Switzerland). Key players in the autonomous construction equipment market are investing in new technologies. For instance, AutoTrac by Deere & Company has an intelligent steering system, AFS AccuGuide from Case IH (a subsidiary of CNH Industrial), a fully integrated auto-guidance system, etc.

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Deere & Company has a strong focus on strategic partnership and acquisition in the field of agricultural autonomy. In January 2023, John Deere acquired ANELLO Photonics, which was developing a smart sensor that helps improve navigation for autonomous machines. Similarly, in July 2023, Deere & Company acquired Smart Apply, Inc., which uses human help and inputs to enhance robots such as tractors to make decisions in difficult situations. Additionally, the company has a broad range of product offerings for off-highway sectors, such as engines, powertrain components, and electronic systems, and the company supplies this equipment directly to original equipment manufacturers or through selective distributors globally. Thus, Deere & Company's strong product offering and focus on strategic collaboration will help the company maintain its position in the autonomous construction equipment market.

CNH's extensive global operational presence gives it a competitive edge and provides significant growth opportunities, enabling it to gain valuable local market insights. The Company has a substantial operation presence in 172 countries, with 42 manufacturing facilities and 49 R&D centers. The Company mainly maintains its market share by making strategic partnerships and acquisitions. For instance, in June 2024, New Holland, a brand of CNH Industrial, announced a strategic alliance with Bluewhite to enhance autonomous capabilities in their tractors, specifically for specialty crops such as orchards and vineyards. Additionally in January 2024, CNH Industrial and HD Hyundai formed a partnership deal at the CES Show held in Las Vegas to create a joint research center called the CE Innovation Lab, which would focus on developing new technologies for the construction industry.

The Caterpillar brand serves as the umbrella for all other brands in its portfolio, with notable ones such as CAT, which represents its equipment, and CAT Financial, which offers financing and insurance services. The Company strongly focuses on customer-driven product innovation, with significant research and development (R&D) investments to create new or enhanced machines, engines, and key components. The Company tailors its offerings to meet customers' needs and preferences in different regions. In developing economies, customers prioritize purchase prices when making investment decisions. In contrast, those in developed economies focus more on productivity and performance factors that reduce equipment's lifetime ownership and operating costs. Caterpillar's robust R&D capabilities support advancements in drivetrains, hydraulic systems, electronics, and software for its machines and engines, ensuring it remains at the forefront of product innovation. Besides its strong brand portfolio, Caterpillar also benefits from a diversified geographic presence in North America, EAME (Europe, Africa, and the Middle East), Asia-Pacific, and Latin America.

Komatsu is well-positioned to capitalize on the positive growth outlook for the machinery industry in the Asia-Pacific region. In May 2023, Komatsu and Toyota (Japan) made a partnership deal to develop an autonomous light vehicle (ALV) for Toyota, which will work with Komatsu's autonomous haulage system (AHS) system in mining operations. This partnership was made between them to improve the safety and productivity of the construction equipment vehicles by integrating autonomous haul truck software and Autonomous Light Vehicle (ALV) software to operate together without human drivers. Additionally, the Company operates through two key segments: construction, mining, utility equipment, industrial machinery, and others. The Construction, Mining, and Utility Equipment division provides machinery, services, and solutions for global mining and construction projects.

Related Reports:

Autonomous Construction Equipment Market by Equipment (Dozers, Dump Trucks, Loaders, Excavators, Haul Trucks, & Compactors), Level of Automation (Semi & Fully Autonomous), Propulsion, Application, Power Output & Region - Global Forecast to 2030

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