The global 3D Printing Construction Market size is expected
to reach USD 4,986,793.7 thousand by 2030, registering a CAGR of 100.7% from
2022 to 2030, according to a new report by Grand View Research, Inc. The market
growth can be attributed to the rising awareness about 3D printing techniques
in the construction industry and the significant increase in green construction
projects globally. Various benefits offered by this technology, including
increased construction speed, reduction in waste, on-site accidents&
overall costs, and flexibility in creating complex architectural shapes, are
also driving its adoption in the construction industry. The funding received by
the 3D printing construction providers from the respective governments for
developing space-based construction systems is expected to create new
opportunities for market growth in the coming years.
For instance, in October 2020, ICON Technology, Inc.
announced that it had been awarded a government contract called Small Business
Innovation Research (SBIR) and funding from NASA to conduct a space-based
construction project called “Project Olympus” on the moon. In this project,
ICON Technology, Inc. partnered with BIG and SEArch+, a company specialized in
space exploration, to develop lunar structures from the available material on
the moon. In addition, the use of this technology in the construction industry
can reduce the number of laborers required on-site, which can eventually
resolve the labor shortage problem, particularly in countries where the
industry is heavily dependent on migrant workers.
However, the technology may not be favorable for
countries where the construction industry is a key employer and labor is less
expensive. Moreover, individuals using specialized 3D construction printers
require proper training, which could add to the overall cost of a project. The
outbreak of the COVID-19 pandemic negatively impacted the market growth as
supply chains were disrupted and several construction projects were stalled due
to the lockdowns imposed by various governments across the globe. Construction
companies rely on the supply of equipment and raw materials from their
suppliers. However, as several governments restricted the movement of goods
locally and across the border, companies had to halt their construction activities,
given the stalled supply of raw materials and equipment.
Related Press Release@ 3D Printing Construction Market Report
3D Printing Construction Market
Report Highlights
- The extrusion segment led the global market in 2021 and is expected
to witness the fastest CAGR over the forecast period due to the introduction
of extrusion-based 3D printers
- The concrete material type segment is expected to witness the
fastest CAGR over the forecast period
- The segment growth can be attributed to a rise in the demand for
3D-printed concrete formwork as it requires less-skilled workers than
conventional concrete construction
- The building end-user segment dominated the market in 2021 and is
expected to show a similar trend during the forecast period due to the
growing need for houses globally
- The Asia Pacific regional market is expected to witness the fastest
CAGR from 2022 to 2030 due to rapid industrial expansion and development
in the emerging economies
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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