The Growing Construction Industry Is Accelerating The Growth Of The Radio Remote Control Market: Cognitive Market Research

Radio Remote Control Equipment Market Overview

Radio remote controls are electronic devices that operate electronically to control and regulate the EOT crane. This device uses a transmitter and a receiver as its two-way communication parts. This remote control uses radio signals to communicate between the transmitter and the receiver. Radio remote control systems enable devices or machinery to be used at a distance without the need for cabling. Operators can manage equipment from safer vantage points without being constrained by cable length.  There is always a risk to plant and human safety when working on large machinery and equipment. This fundamental issue is solved as a value-added via radio remote controls.

The execution of machine activities, from lifting bricks to deploying demolition robots, required arduous effort and carried a danger of death in traditional working circumstances. However, radio remote control methods boost output while cutting costs overall. Initially, remote controls were wired together, necessitating the operator's continued proximity to the device. With improved capacity and control over the equipment, remote control systems have evolved over time to become cordless and efficient.

Construction, mining, agriculture, warehousing, manufacturing, and equipment-based industries all make substantial use of radio remote controls. The use of a remote control completely alters how machines are worked since it allows the user to simply operate the machine from a secure distance, saving valuable labour hours. When moving or handling equipment, an operator can get the optimum line of sight by using a radio remote control. They can even oversee operations from a distance, making it possible to reduce the complexity of a two-person task to one that a single person can handle. Overall, companies that use heavy equipment can profit from radio control systems. By enhancing safety, efficiency, and production, radio control systems can help these sectors better achieve their goals and objectives

Global Radio Remote Control Equipment Revenue Market by Region (2018-2030)

The Asia-Pacific radio remote control equipment market is expected to hold the largest market share during the forecast period. This is due to the presence of several established manufacturers and the increasing demand for automation in various industries in this region. Rising demand for radio remote control equipment in Asian countries like China and India owing to rapid industrialization and the adoption of advanced technologies. Furthermore, the increasing investments in research and development activities for the introduction of advanced remote-control systems are projected to accelerate the growth of this region in the forecast period. Thus, this region is driving the growth in the global radio remote control equipment market.

Radio Remote Control Equipment Market – Industry Analysis

Market Drivers

• The growing construction industry is accelerating the growth of the radio remote control market

The construction industry has been undergoing substantial growth in recent years, driven by various factors such as population growth, urbanization, infrastructure development, and economic expansion. The United States Census Bureau reports that the amount spent on construction in March 2023 was anticipated to be $1,834.7 billion on a seasonally adjusted annual rate, which is 0.3 percent (0.5 percent) more than the previously corrected February estimate of $1,829.6 billion. In addition, the following graph represents the construction spending in the United States in both private as well as public construction, which indicates how much the construction industry growing in this country.

Growing commercial and industrial sectors have fuelled demand for construction and mining equipment globally. Which required tireless efforts and involved fatality risk to execute machine operations, from moving bricks to using demolition robots. But radio remote control systems increase productivity and bring down the overall cost expenses in the construction industry. 

Construction is one of the industries where radio control systems are most frequently used. Excavators, bulldozers, and cranes operated remotely are growing in popularity as they provide various safety advantages over conventionally operated vehicles. To dig trenches without placing operators in danger, remote-control excavators can be employed. Heavy machinery can be controlled remotely by construction workers using radio control devices. They allow users to control several construction vehicles at once, which can increase productivity and efficiency.

For instance, these remote controls are also utilized in EOT Cranes, which are employed in a variety of settings, including construction and manufacturing companies and other applications. Both wired and wireless electrical systems can be used to control this type of EOT crane. However, a wireless remote controller is used to make operation for the EOT crane operator easier, due to the fact that many cranes operate extremely far from the head and due to specific safety risks associated with the pendant cable passing through active plants when the crane is in use. In addition, Volvo construction equipment manufacturer has introduced radio remote control in their excavators, for those working in environments where operators need an up-close view of the task itself. Furthermore, Caterpillar also launched its remote-control system for large excavator models into the North American and Japanese construction equipment markets in August 2021. So, due to the advantages and safety of radio remote control solutions in construction, their utilization in these industries has increased, which drives their demand in the global market.

• Rise in mine accidents also driving the radio remote control market growth

Global Radio Remote Control Equipment Market Segmentation Analysis

Global Radio Remote Control Equipment Market by Type
•    Joy-sticks
•    Push-buttons

Global Radio Remote Control Equipment Market by Type

Source: Secondary Research, Interviews, and Expert Analysis

Based on type, Push-buttons segments are a significant market revenue share in the radio remote control equipment market. This is attributed to pushing button radio remote control systems are widely applied for cranes, lifting equipment, logistics, construction machinery, manufacturing, chemical, steel structure processing, shipbuilding, railroad, bridge, tunnel construction, and other industrial equipment and sites which can be worked by radio controls. They enhance efficiency and safety in these sectors by allowing operators to control equipment remotely and conveniently. Furthermore, these are light in weight and used by a single hand. Push buttons are simpler controllers offering basic functionalities. This is expected to drive the growth of this segment in the radio remote control equipment market.
 
Global Radio Remote Control Equipment Market by Type
•    Joy-sticks
•    Push-buttons

Global Radio Remote Control Equipment Market by Application:
•    Industry & Logistics
•    Construction Crane
•    Mobile Hydraulics
•    Forestry
•    Mining
•    Others

Global Radio Remote Control Equipment Market by Technology:
•    IR
•    RF
•    Bluetooth
•    Zigbee
•    Wi-Fi

Global Radio Remote Control Equipment Market by Distribution Channel:
•    Direct Sales
•    Distributors
•    Online Retail

Global Radio Remote Control Equipment Market by Component:
•    Hardware
•    Software
•    Services

Global Radio Remote Control Equipment Manufacturers Profiles/Analysis

Schneider Electric

Schneider Electric Basic Information, Manufacturing Base, Sales Area, and Competitors

Business Segment/ Overview:

Schneider Electric has over 162,339 employees across the globe and has 183 factories with 94 distribution centers in 50 countries. The company is operating under two segments: Energy Management, and Industrial Automation. Energy Management is sub-segmented into three operating segments: Low Voltage, Medium Voltage, and Secure Power. Industrial automation includes industrial automation and industrial control activities, across discrete, process & hybrid industries.

Products offered by the company are segmented into residential and small businesses, building automation and control, low voltage products and systems, solar and energy storage, medium voltage distribution and grid automation, critical power, cooling and racks, and industrial automation and control. 

Residential and Small Business is further classified into electric car charging, electrical protection and control, home automation, home security, installation material, and system, light switches and electrical sockets, and others. Building automation and control segment is classified as building management, controllers, expansion modules, servers & HMIs, energy management software solutions, fire and security, power monitoring and control, and others. Further, Low voltage products and systems are segmented into busway and cable management, circuit breakers, and switches, contactors and protection relays, electrical car charging, electrical protection, and control, energy management software solutions, and others. Similarly, other product segments include different types of products.

Application Industries
•    Food & beverages
•    Healthcare
•    Hotels
•    Marine
•    Power & Grid
•    Semiconductor
•    Transportation
•    Others

Radio Remote Control Equipment Product Types Specification

Schneider Electric S.W.O.T Analysis

Strength

• Inorganic growth through several strategic acquisitions, including APC, Clipsal, Feller, Foxboro, Merten, Invensys, Merlin Gerin, Telvent, Square D, and others.
• It has a presence in Western Europe, North America (including Mexico), Asia-Pacific, Eastern Europe, the Middle East, Africa, and South America
• Significant investment in research and development
• Brand recognition

Weakness

• Raw material procurement cost
• High employee turnover rate

Opportunity

• Entry into the emerging markets
• Changing customer preferences
• Emerging advanced technologies

Threats

• Presence of well-known market players
• Tariff and trade barriers

Schneider Electric COVID-19 Impact Analysis

All regions of the world have been greatly impacted by COVID-19, with different effects on different nations. As a result, the effects of the COVID-19 epidemic vary greatly from one zone to another. Most geographies were strongly impacted by the COVID-19 pandemic over the year 2019-2020: North America -4.9%, Asia, Pacific -4.1%, Western Europe -5.3%, and the Rest of the World -4.1%. Despite this, the company maintained its progressive dividend policy despite the impacts of COVID-19 on the adjusted net income generated in the year.

Related Reports

•    Global Pushbutton Radio Remote Control Equipment Market 
•    Global Joy-Sticks Radio Remote Control Equipment Market
•    Global Industrial Remote-Control Market
•    Global Remote-Control Market
•    Global Remote Monitoring and Control Market