Construction Exoskeletons Market

Construction exoskeletons are the metal frameworks which consist of motorized muscles which help in increase the working ability of workers. Objects feel much lighter and sometimes even weight less with the help of construction exoskeletons. It also minimizes the chances of injuries to workers and by doing so, it increases the compliance of workers. Construction exoskeleton is widely used in healthcare, military and industrial sectors due to its abilities to enhance the working capability of workers. Need of technically advance tools in various industries for effective operations is expected to boost the growth of the construction exoskeleton market at a global level.

COVID-19 Impact analysis

• COVID-19 pandemic has shut down the production of various products in the construction exoskeleton industry attributed to the lockdown in countries worldwide. This has hampered the growth of construction exoskeleton market in 2020 and, is likely to revive in 2021.
• COVID-19 has already affected the sales of construction exoskeleton in the second and third quarter of 2020 and is reviving in 2021.
• The major demand for construction exoskeleton was previously noticed from countries including the U.S., Germany, Italy, UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for construction exoskeleton.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Construction exoskeleton manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
• Construction exoskeleton manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.

Top Impacting Factors

Players are always looking for advance technical tools and machineries to gain the competitive advantages over competitors due to high competition in healthcare, military, and industrial sectors. Construction exoskeleton is such device which increases the working capabilities of workers. It is widely used in construction and other industries such as healthcare, mechanical, and pharmaceutical. These are the key drivers in the growth of construction exoskeleton market. In addition, there is an increase in the use of construction exoskeleton due to stringent norms and regulations for the safety of labor and workers in industries because of its ability of protecting the workers. This factor is expected to create new opportunities for the construction exoskeletons market. High cost and maintenance factor hinder the growth of the construction exoskeletons market.

Market Trends

• In drive type segment, electric actuator construction exoskeleton is dominating the market across the globe. Major portion of revenue in the global construction exoskeleton market is generated by selling electric actuator construction exoskeleton.
• Consistent R&D and development is a prime focus for the manufacturer of construction exoskeleton. For example, Wandercraft developed Atalante Expo in 2017, which is self balanced exoskeleton.
• Key players are expanding and collaborating with each other, which is driving the growth of the market. For example, Ekso Bionics announces expansion with Kindred Healthcare, LLC in May 2021.

Key Benefits of the Report

• This study presents the analytical depiction of the construction exoskeleton market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the construction exoskeleton market share.
• The current market is quantitatively analyzed to highlight the construction exoskeleton market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides detailed construction exoskeleton market analysis based on competitive intensity and how the competition will take shape in coming years.

 Construction Exoskeletons Market Report Highlights