September 01, 2022 06:58 ET | Source: Exactitude Consultancy Exactitude Consultancy
Luton, Bedfordshire, United Kingdom, Sept. 01, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the 3D Printing Construction Market.
The market for 3D printing construction is anticipated to grow from USD 503.35 million in 2020 to USD 6554.49 million in 2029, at a CAGR of 33% between 2022 and 2029.
The use of 3D printing technology results in increased speed, lower labour costs, higher accuracy, and improved efficiency. The construction industry’s increasing use of 3D printers for accurate end-product prototyping, design, and creation while lowering production costs is propelling the market’s expansion. Furthermore, one of the key reasons enhancing the market growth is the increase in the adoption of green initiatives on a global scale.
Engineering, healthcare, and the aviation industries all heavily utilize 3D printing. The building industry has not made any significant technological improvements in a number of years. Contrarily, the adoption of 3D printing in construction has gained popularity as more parties realize this technology’s true potential. This has gotten more and more concentrated on the 3D printing construction industry over time. Due to a number of advantages, such as quicker building, significantly fewer injuries, reduced material costs, and advancements in methods, the 3D printing in construction industry is anticipated to gain pace in the coming years.
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High precision, which increases productivity, lower labour costs, and quicker printing are other benefits that support the expansion of the 3D printing construction sector. Furthermore, the increased use of green buildings and structures around the world is one of the key factors fueling market expansion. The population increase is driving new commercial construction projects, including office buildings, hospitals, housing complexes, and shopping malls. Additionally, the development of the 3D printing construction market is fueled by the building of roads, bridges, railways, and airports.
During the projected period, the 3D printing in construction market is expected to develop at a remarkable 33% CAGR. As its acceptance continues to accelerate, 3D printing is expected to play a critical role in revolutionizing the construction sector in the near future. Participants in the 3D printing in construction market should concentrate on producing new 3D printers that can meet the changing needs of the construction industry. North America and Europe will continue to be the most important regional markets over the coming decade due to considerable improvements in this technology. However, stakeholders should attempt to increase their footprint in the worldwide 3D printing in construction market by capitalizing on possible prospects in the Asia Pacific and Middle East and Africa regions.
3D Printing In Construction Market Report Scope
Key players are focusing on advancements and new product launches to induce ahead within the market.
Some of the major companies are COBOD International A/S, XtreeE, Apis Cor, WASP S.r.I, MX3D, Contour Crafting Corp., ICON Technology, Inc., Constructions-3D, Sika AG and many more. Key players are increasing their share in the market by anticipating future demand and innovating. They are adopting the strategy of mergers and acquisition to enter the arena which was not touched before.
In June 2022 – COBOD International signs a distribution agreement with nidus3D (Ontario, Canada) in a partnership to bring 3D construction printing technology to Canada and strengthen building automation in North America.
Important Driving Factors
Expanding use of building information modelling.
Increased market growth for 3D printing construction as a result of the adoption of Building Information Modeling (BIM), which is a major reason. In the engineering, architectural, and infrastructure industries, BIM is the foundation of digital change. It is a highly collaborative approach that allows architects, engineers, manufacturers, real estate developers, builders, and other infrastructure specialists to design, plan, and build a structure or building in 3D.
Investment in renewable energy infrastructure is increasing.
Increased market growth is predicted to fuel the 3D printing construction market over the forecast period as a result of investments in renewable energy generation capacities. A large number of power generation businesses are investing in renewable energy sources, particularly in Europe, the United States, and Asia.
Because of technical improvements, simulation software’s capabilities have evolved to achieve sophisticated simulating printing and greater coordination between industrial printing parts and simulation software. This speeds up the process of optimizing machine performance, dependability, and reducing material waste.
Browse Detailed Research Insights with TOC:
Key Market Segments: 3D printing construction Market
3d Printing Construction Market by Construction Method, 2020-2029, (USD Million) (Square Meter)
3d Printing Construction Market by Material Type, 2020-2029, (USD Million) (Square Meter)
3d Printing Construction Market by End User, 2020-2029, (USD Million) (Square Meter)
3d Printing Construction Market by Regions, 2020-2029, (USD Million) (Square Meter)
Important countries in all regions are covered
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Detailed TOC of Global 3D Printing Construction Market Research Report 2022
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