PORTLAND, Ore., Sept. 23, 2020
High cost for skilled labor in developed nations, increase in focus on minimizing waste generation, and mass customization in enhanced architecture fuel the growth of the global 3D concrete printing market.
PORTLAND, Ore., Sept. 23, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "3D Concrete Printing Market by Printing Type (Gantry system and Robotic arm), Technique (Extrusion-based and Powder-based), and End-use Sector (Residential, Commercial, and Infrastructure): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global 3D concrete printing industry was estimated at $310.9 million in 2019, and is anticipated to hit $40.65 billion by 2027, registering a CAGR of 106.5% from 2020 to 2027.
Drivers, restraints, and opportunities-
High cost for skilled labor in developed nations, increase in focus on minimizing waste generation, and mass customization in enhanced architecture fuel the growth of the global 3D concrete printing market. On the other hand, high capital cost and limited size of the printer curb the growth to some extent. Nevertheless, rapid urbanization is expected to create multiple opportunities in the industry.
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The gantry system segment to dominate by 2027-
Based on printing type, the gantry system segment accounted for nearly three-fifths of the global 3D concrete printing market share in 2019 and is projected to rule the roost by the end of 2027, due to its capacity to print large size designs. The robotic arm segment, on the other hand, would grow at the fastest CAGR of 110.7% throughout the forecast period, owing to its ability to function from multiple axis leading to flexibility in printing complex designs.
The extrusion-based segment to maintain the dominant share-
Based on technique, the extrusion-based segment accounted for more than four-fifths of the global 3D concrete printing market revenue in 2019 and expected to lead the trail by 2027. This is attributed its easy maneuver. Simultaneously, the powder-based segment would register the fastest CAGR of 111.7% during the study period, owing to its high strength.
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North America garnered the major share in 2019-
Based on geography, North America held the major share in 2019, generating more than two-fifths of the global 3D concrete printing market, due to rise in awareness about its advantages amongst the users in the province. At the same time, LAMEA would portray the fastest CAGR of 117.4% from 2020 to 2027, owing to rapid urbanization of several developing countries in the region.
Key players in the industry-
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