ALBANY, New York, June 15, 2020
- 3D printing has emerged as the most relevant technology in key industries, mainly due to the precision and accuracy offered by 3D printing machines. Trend of customization across construction industry has also created fresh demand for 3D printing technologies
- The low cost of 3D printing technology in construction as against deployment of manual labour shall aid market growth
ALBANY, New York, June 15, 2020 /PRNewswire/ -- The presence of a growth-oriented construction industry is conducive to the growth of the global 3D printing sector. Use of 3D printing in the construction industry has helped in expediting the processes of on-site construction, whilst offering several cost benefits to project owners and managers. The rate of urbanization in the current times has supplanted all previous marks, creating new inlets for growth and expansion within the global 3D printing in construction market. The construction industry receives voluminous investments from leading entities such as governments, angel investors, and stakeholders. This factor has helped in the adoption of 3D printing technologies that would otherwise have been unaffordable for the constructions sector. Considering the factors mentioned above, the global 3D printing in construction market is slated to clock in humongous revenues over the times to follow.
It is projected that the global 3D printing in construction market would reach a value of US$ 280 Mn by 2027, rising up from a value of US$ 29 Mn in 2019. The CAGR of this market is calculated at a whopping 33% for the forecast period between 2019 and 2027. A large share of the global 3D printing in construction market is held by the commercial and industrial sectors. The residential sector still relies on the use of manual labour across construction sites.
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Need for Meeting Project Timelines
Several construction projects approved by the government come with a set timeline. The government provides funds based on the seriousness of the project managers to follow the right timeline for the project. Use of manual labour to manoeuvre construction projects could result in unanticipated delays. Therefore, the construction industry has become inclined towards the use of 3D printing technologies. The precision and accuracy offered by 3D printing technologies has played a crucial role in market expansion.
Several construction projects have been approved across the developed and developing countries. Several of these projects function in real-time where the project managers keep a close check on the construction activities. Use of 3D printing technology helps in achieving the aforementioned feat by offering key insights to the managers. The quest of the developed countries to renovate old buildings or reconstruct them after demolition has also played a crucial role in popularising 3D printing in construction. The time taken to accomplish a large construction project through 3D printing is much lesser than the time taken when manual labour is deployed. It is important to acknowledge the worth of 3D printing technologies when multiple projects run across an area with limited resources.
Gather core insights about the growth of the 3D Printing in Construction Market (Printing Method: Extrusion, Powder Bonding, and Others; Material Type: Concrete, Metal, Composite, Plastic, and Others; Printing Type: Full Building and Modular Components of Building; and End User: Buildings [Residential and Commercial & Industrial] and Infrastructure) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at: https://www.transparencymarketresearch.com/3d-printing-construction-market.html
Global 3D Printing in Construction Market: Growth Drivers
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Global 3D Printing in Construction Market: Key Companies
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Global 3D Printing in Construction Market: Segmentation
3D Printing in Construction Market, by Printing Method
3D Printing in Construction Market, by Material Type
3D Printing in Construction Market, Printing Type
3D Printing in Construction Market, by End User
3D Printing in Construction Market, by Region
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