Wilmington, Delaware, United States, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rise in demand for 3D printing solutions for modular buildings is expected to present lucrative opportunities for solution providers. 3D printing technology offers significant benefits to builders & architects and other stakeholders in the building & construction sector such as faster construction, design freedom, and cost savings. The global 3D printing in construction market size stood at US$ 1.2 Bn in 2021.
Companies in the construction industry are keen on adopting 3D printing technology for buildings in the next few years. However, the rate of adoption is relatively slow, as only a few companies are using the technology for large-scale projects. Nevertheless, multiple benefits of the technology, especially for modular construction of 3D-printed houses, are likely to boost adoption.
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Key Findings of Study
- Rise in Utilization of 3D Printing Technology in Modular Building Components: 3D printing technology is gaining traction in prefabricated components printed at off-site factories and subsequently assembled at the construction site. Modular components of building is a lucrative segment of the market. The segment is estimated to account for major market share during the forecast period. Commercialization of 3D concrete printing technologies in developed countries is expected to broaden 3D printing in construction market outlook.
- Building & Construction Sector Witnessing Benefits of 3D Printing: 3D printed housing units are expected to attract attention among governments and home buyers owing to low cost. In commercial construction, 3D printing offers design freedom to builders. 3D printed components for commercial buildings have also increased in popularity in countries that have high rate of urbanization such as in Middle East & Africa. Waste reduction is one of the key benefits of 3D printing in construction.
Key Drivers
- Increase in popularity of modular construction approaches among architects and builders is a key driver of the 3D printing in construction industry. Prefabricated construction components are likely to become popular in residential and commercial structures.
- Rapid pace of urbanization across the world is spurring demand for residential and commercial infrastructure. Low-cost housing units have gained traction in emerging economies. These 3D printing in construction market trends are likely to drive the adoption of 3D printing technology.
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Regional Growth Dynamics
- North America accounted for major market share in 2021. The trend is projected to continue during the forecast period. Rise in demand for 3D printing products and services in the construction industry is anticipated to propel the market in the region. The U.S. is a lucrative market in North America, supported by substantial investment in the building & construction sector.
- The 3D printing in construction market in Middle East & Africa is anticipated to grow at a rapid pace during the forecast period. Increase in usage of 3D printed lighting products and construction units is likely to augment the market in the region in the next few years.
Competition Landscape
Key players in the global the 3D printing in construction market are expanding their product portfolio. These are offering advanced 3D printers for construction and architecture projects in order to consolidate their market positions.
Prominent companies in the 3D printing in construction market are L&T Construction, Samsung C&T Corporation, Black Buffalo 3D Corporation, Yingchuang Building Technique (Shanghai) Co., Ltd. (WinSun), XtreeE, MX3D, Mudbots 3D Concrete Printers, ICON Technology, Inc., CyBe Construction, Contour Crafting Corporation, COBOD International A/S, and Apis Cor, Inc.
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3D Printing in Construction Market Segmentation
- Component
- Hardware
- Software
- Services
- Material
- Concrete
- Composites
- Plastics
- Metals
- Others
- Construction Method
- Extrusion
- Powder Bonding
- Others (additive welding, etc.)
- Printing Type
- Full Building
- Modular Components of Building (walls, ceilings, floors, etc.)
- End-user
- Buildings
- Residential
- Commercial
- Infrastructure
- Foundations
- Bridges
- Others
- Buildings
Regions Covered
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
Countries Covered
- U.S.
- Canada
- U.K.
- Germany
- France
- China
- India
- Japan
- South Korea
- ASEAN
- GCC
- South Africa
- Brazil
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Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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