3D Printing Construction Market size is forecast to emerge at a CAGR of xx% during the forecast period
Based on OG Analysis forecast, 3D Printing Construction Market is emerged to grow at a CAGR of xx% over the forecast period 2020-2026. Rising demand of cutting-edge and advanced methods across the construction industry in terms of cost-effectiveness, construction time, flexibility, design, error reduction, and environmental aspects to drive the 3D printing construction market size during the forecast period, finds OG Analysis.
Further, the potential of 3D printer to transform the infrastructure development cycle with speed and efficiency boosts the consumption across key end-users. In addition to the high rate of adoption by end-user, availability of innovative material, strong presence of key market growth contributors and emerging cutting-edge printer manufacturers thrust the 3D Printing Construction Market size and value, notes OG Analysis.
Further, a steady shift from key construction contractors and consumers toward eco-friendly and modern building techniques to create key growth opportunities for the 3D printing construction market growth during the fiscal term.
Furthermore, being relatively nascent, the industry is still in the process of promoting how technology will add value to construction projects. The challenges of poor surface finish and limited size of printers along with high-cost of 3D printing construction equipment hindrance 3D printing construction market growth.
Amidst key material types, concrete is estimated to hold macro largest market share during the forecast period
Concrete material on comparison with the consumption of metal and composite materials for constructions drives the market demand for concrete 3D printing material.
With value-added benefits of environmental resistance, extrudability, design flexibility, cost-effectiveness, buildability, and compressive strength the concrete segment of 3D printing construction market to drive market growth during the forecast period.
Extrusion Construction Method to emerge with strong market growth during the forecast period
Extrusion construction method to hold the major 3D printing construction market share driven by increased consumption of conventional construction materials for on-site construction applications.
In addition, growing demand for concrete material with potential to imprint complex geometrical structures drive the extrusion construction method segment across large-scale building projects.
Presence of strong end-users push market players to reach sustainable and economic construction goals
Advancement in technology, awareness of lightweight components to maintain structural integrity along with low budget handling & transportation costs thrust the 3D printing construction market growth. Accordingly, emerging market player MX3D collaborates with global industrial partners and software engineers to 3D print large objects in metal. For instance, in 2019, MX3D produced the bridge which will be the first 3D-printed metal bridge in the world and is planned to be placed in its permanent location in Amsterdam, by the beginning of 2020.
Furthermore, amidst key end-users, building sector emerges with a significant market growth opportunity, followed by infrastructure. The ongoing construction projects with high performance and ability to develop complex building geometries at a reasonable fraction drive the building segment of the 3D printing construction market.
Expansion of 3D printing construction market across emerging economies is estimated to project long-term market growth opportunities
Europe is set to entice the 3D printing construction market value in upcoming years driven by rising demand from key end-use industries such as building and infrastructure sectors, presence of strong market players, and increase in adoption of 3D printing construction services.
Middle East and Asia Pacific to emerge with 3D printing construction market growth over the estimated period driven by strong rise in construction projects across developing countries and rapid urbanization. Accordingly, key market players are investing in foreign projects and emerging nations to reach modern construction goals. For instance, in 2019, ACCIONA installed its 3D printing center in Dubai in order to support the emirate's commitment to deploying 3D printing in the construction sector.
Collaborations, launch of novel products and expansion of production capabilities are observed across the key market participants
Developments of novel 3D printers, fully- designed factories, and collaborations with major players are major strategic approaches takenup by key market players to harness lucrative 3D printing construction market growth during the forecast period.
Accordingly, global players are investing in production facilities across emerging regions, for example, recently, VINCI Construction launched state-of-the-art factory “concreative” focused on 3D printing of high-performance concrete in UAE.
Further, key players are involved in introduction of differential products to boost the market growth and value. For instance, in 2019, ICON launched its new “Vulcan II” 3D printer to produce resilient single-story buildings faster with more design freedom and affordably.
In addition, market players are investing in EPA projects to explore market growth opportunities. Following this, in 2018, XtreeE and Seaboost (Egis Group) collaboratively developed an approach to restore lost ecological functions using large-scale 3D printing and marine biology.
Key vendors contributing to the growth of 3D printing construction market share include Yingchuang Building Technique (Winsun), Xtreee, Apis Cor, Monolite UK (D-Shape), Csp S.R.L. (Centro SviluppoProgetti), Cybe Construction, Sika, Mx3D, Contour Crafting, Icon, among others.
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