Global Construction Exoskeleton Market By Types (Power Gloves, Arm and Shoulder Support, Back Support, Standing and Crouching Support, Whole Body Suits), By Technology, By Working Type, By Industry Vertical (Healthcare, Construction, Defence), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2021-2031

Exoskeletons are wearable machines fitted with motorized joints that aim to reduce strain and injury by providing lift support, weight dispersion, and posture correction, among other capabilities. Exoskeletons are sometimes referred to as Exosuits.

Exoskeletons are gradually being adopted by the construction and manufacturing industries to increase safety levels for respective workers. These machines aim to scale back accumulated strain gained from repetitive and prolonged tasks throughout a given workday.

Several contractors are confident that wearable technologies, such as construction exoskeletons, soft wearable robotics, prosthetics, soft wearable robotics, intelligent orthotics, etc., will improve the end-use industry that adopts these devices.

Exoskeletons are purely mechanical or operate with a mixture of mechanics and electricity. Their frames are often comprised of hard materials, such as metal, or soft materials like cabling and tubing, to regulate and operate a given suit’s functions.

Market Segmentation:

By Types:

• Power Gloves
• Arm and Shoulder Support
• Back Support
• Standing and Crouching Support
• Whole Body Suits

By Technology:

• Active Exoskeletons
• Passive Exoskeletons

 By Working Type:

• Mechanical
• Electrical

By Industry Vertical:

• Healthcare
• Construction
• Defense

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Key Players:

• Cyberdyne Inc.
• Ekso Bionics
• Hocoma AG
• Honda Motor Co. Ltd.
• Lockheed Martin Corporation
• Panasonic Corporation
• Parker Hannifin Corporation
• ReWalk Robotics Ltd.
• Rex Bionics Ltd.
• Toyota Motor Corporation

Market Dynamics:

Drivers:

Growing demand from the healthcare sector as well as the industrial sector has led to an increase in the production rates of various types of exoskeletons for numerous applications. Construction work involves several tasks that could potentially lead to injuries. In fact, everyday activities such as lifting and carrying heavy objects can be quite taxing on the human body. Within the manufacturing sector, exoskeletons offer various advantages, like a reduction in work-related injuries, lower work fatigue levels, etc., subsequently increasing productivity and work quality levels. Companies such as Ford are now more focused in implementing exoskeletons to achieve certain motor tasks related to their usual operations. For example, the company adopted the EksoVest (an exoskeleton that elevates and supports the arms of workers performing repeated overhead tasks) at 15 of its plants.

Restraints:

The skills and expertise of manufacturers with regards to the technical design aspects of their day-to-day operations does when using a specific piece of equipment. Currently, there are a few standards that directly govern the exoskeleton industry. The FDA recognizes ISO standards which are applicable to relevant industries, and only products that receive regulatory approvals are allowed to be legally sold within this market.

Opportunities:

The wearable robotics and exoskeletons market as a whole has a great number of competitors. This market’s potential is additionally attracting tons of start-ups who in turn are investing heavily in this industry, thereby, further intensifying competition levels. Several companies are increasing their respective market presence by introducing new products, expanding their existing operations, or by being involved in strategic mergers & acquisitions as well.

Trends: Owing to numerous advances in innovation, emerging markets such as those in the Asia Pacific region are now beginning to make meaningful strides in this given industry, and as such, are expected to subsequently boost the overall expansion trajectory of the global construction exoskeleton industry over the course of the next decade. This is a trend that is expected to exponentially boost revenue growth prospects as a direct result of this aforementioned factor.

Key Developments:

• September 2019 – The Hyundai Motor Group developed a vest exoskeleton (VEX), a wearable robot to help industrial workers who spend long hours working in overhead environments. VEX enhances productivity and minimizes fatigue among workers by imitating the movement of human joints to improve support and mobility.
• January 2019 – Ekso Bionics Holdings Inc.’s subsidiary, Ekso Bionics Inc., partnered with Zhejiang Youchuang Venture Capital Co. Ltd., and another partner to develop the exoskeleton market in China and other Asian markets, and to develop an exoskeleton manufacturing center in the process.

For the Construction Exoskeleton Market research study, the following years have been considered to estimate the market size: