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3D Printing Construction Market Growing At An Astounding CAGR Of 100.7% Y-O-Y

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.

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

Gain deeper insights on the market and receive your free copy with TOC now @: 3D Printing Construction Market Report

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.

List of Key Players of 3D Printing Construction Market

·         COBOD International A/S

·         Yingchuang Building Technique (Shanghai) Co.Ltd.(Winsun)

·         XtreeE

·         Apis Cor

·         WASP S.r.I

·         CyBe Construction

·         Sika AG

·         MX3D

·         Contour Crafting Corp.

·         ICON Technology, Inc.

·         Constructions-3D

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3D Printing Construction Market Segmentation

Grand View Research has segmented the global 3D printing construction market based on the construction method, material type, end-user, and region:

3D Printing Construction Method Outlook (Revenue, USD Thousand, 2017 - 2030)

·         Extrusion

·         Powder Bonding

·         Others

3D Printing Construction Material Type Outlook (Revenue, USD Thousand, 2017 - 2030)

·         Concrete

·         Metal

·         Composite

·         Others

3D Printing Construction End-user Outlook (Revenue, USD Thousand, 2017 - 2030)

·         Building

·         Infrastructure

3D Printing Construction Regional Outlook (Revenue, USD Thousand, 2017 - 2030)

·         North America

o    U.S.; Canada; Mexico

·         Europe

o    U.K.; Germany; France

·         Asia Pacific

o    China; Japan; South Korea

·         South America

o    Brazil

·         Middle East & Africa

o    Saudi Arabia/KSA

Research Methodology

Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. We employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Our market estimates and forecasts are derived through simulation models. A unique model is created customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs).

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

on August 19 at 3:22

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