3D Printing Construction Market Is Poised To Value Over USD 6.58 Bn By 2032 | CAGR 42%
The global 3D Printing Construction Market. the market is expected to reach USD 6.58 billion by 2032. It was USD 0.51035 billion in 2021. A CAGR of 42% between 2022-2032 indicates that this market will grow to USD 6.58 billion.
3D printing is growing in popularity in the construction industry. It is widely used to create complex structures using modeling programs. 3D printing technology can achieve high accuracy, better efficiency, reduced labor costs, and greater speed. 3D printers are becoming more popular in the construction industry to produce accurate end products, reduce manufacturing expenses, prototype, design, and create them quickly. The global adoption of green technologies is also driving the market growth.
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3D printing is being increasingly used by building contractors to reduce costs and to build more efficient buildings. Green construction means that buildings are built using sustainable materials and manufacturing processes. The World Green Building Trends Survey 2018 revealed that around 49% of surveyed businesses expected to use green technology for at least 64% of their projects by 2021. BIM (building information modeling) is expected to be a significant player in the global market.
Additionally, the growth of the construction sector in emerging nations, the emphasis on eco-friendly practices, and the need to provide affordable housing solutions are expected to drive market growth during the forecast period. Different countries’ governments and regional authorities encourage innovation in high-stakes sectors through initiatives such as National Icons Competitions. Innovation Expo, National Science Agenda, Innovation Attache Network, and smart industrialization. These initiatives help strengthen the industries by promoting cutting-edge technologies like nanotechnology, 3D printing, and robotics. Different governments encourage innovation through the development of legislation and infrastructure. This could facilitate increased adoption.
Drivers
Increase adoption of building information modeling
The adoption of Building Information Modeling, a critical factor in 3D printing construction’s market growth, is significant. BIM is the cornerstone of digital transformation in engineering, architecture, and infrastructure. This collaborative approach allows engineers, manufacturers, real-estate developers, contractors, and other infrastructure experts to design, plan and create a building or structure in one 3D model.
Inflation in renewable energy infrastructure is rising
The market is expected to grow due to renewable power generation capacity investments. This will drive 3D printing construction in the forecast period. Many power generation companies invest heavily in renewable energy sources, particularly in the USA and Asia.
Increase the number and quality of government initiatives to spread awareness
Governments support renewable energy sources by offering subsidies and incentives to power generation companies worldwide. Australia invests approximately. The Australian government funds subsidies for wind power generators at approximately $600 million This will increase demand for services offered by construction companies and drive the market over the forecast period.
Technology that is intrinsically green
Construction companies increasingly use green construction methods to create energy-efficient buildings and lower construction costs. Green construction is the use of sustainable building materials, construction processes, and other methods to create energy-efficient buildings that have a minimal environmental impact.
Restraining Factors
High Capital Investments
Perhaps the most significant barrier to 3D printing technology’s widespread adoption on construction sites is its high price and logistical complexity. 3D printers are costly and don’t include maintenance or materials. Many construction professionals struggle to justify the costs of 3D Printing compared to the benefits.
Key Trends
- Governments and market players are increasingly concerned about the environment and are urging 3D printing and green construction methods to be adopted. 3D printing is becoming more popular in the construction industry to cut construction costs and create energy-efficient buildings. Green construction is the use of sustainable building materials and construction methods to make buildings that have a minimal environmental impact. Because they use environmentally friendly construction materials, these methods reduce waste. The 3D printing market is expected to grow due to the emerging and developing construction industry and increasing emphasis on environmentally-friendly building practices.
- Software is an essential element in 3D printing technology. It must be developed alongside hardware and materials.
- The year 2018 saw a growing awareness of the importance of software in various aspects of 3D printing, including workflow and security.
Recent Developments
In May 2022, CyBe Construction relocated to a stunning new building at the Kantsingel.
March 20, 2022. Austin is the home of ICON, a pioneer in 3D printing technology and large-scale construction. “House Zero” is its newest 3D printed home. House Zero is ICON’s first 3D-printed residence. Flato Architects a Texas-based award-winning firm.
In November 2021, PERI, COBOD, and PERI expanded their 3D construction printing distribution partnership. Danish COBOD International is well-known for its 3D printer development and manufacturing. PERI Group, a worldwide leader in formwork equipment scaffolding, tents, and distributor of COBOD 3D construction printers, is a different company.
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Key Market Segments
Type
- Concrete
- Plastics
- Metals
- Others
Application
- Commercial
- Residential
- Industrial
- Others
Key Market Players included in the report:
- Yingchuang Building Technique (Winsun)
- Xtreee
- Monolite UK
- Apis Cor
- Centro Sviluppo Progetti (CSP)
- Cybe Construction
- Sika
- Betabram
- Rohaco
- Imprimere
- Beijing Huashang Luhai Technology
- Icon
- Total Kustom
- Spetsavia
- Cazza Construction Technologies
- 3D Printhuset
- Acciona
Frequently Asked Questions (FAQ):
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