PUBLISHER: Orion Market Research | PRODUCT CODE: 1215552
PUBLISHER: Orion Market Research | PRODUCT CODE: 1215552
Title:Global 3D Concrete Printing Market Size, Share & Trends Analysis Report by Offering (Printing Services, Software, and Materials), by Technology (Extrusion-Based, Powder-Based), and by End Users (Architecture, Industrial, Agriculture, Domestic, and Others) Forecast Period (2022-2028).
The global 3D concrete printing market is anticipated to grow at a substantial CAGR of 20.9% during the forecast period. Rising investment in research and development activities and emergence of new technologies are the major factors driving the growth of the market. Companies are investing in the research and development of more enhanced 3D concrete printing machines that can fabricate large concrete structures such as lintels, walls, and roofs. The emergence of the novel technology in the construction industry will provide cutting-edge 3D printing technology to various sectors, in order to achieve faster, safer, and greener construction. The capability of 3D concrete printing system in the implementation of more sophisticated designs and Increasing construction activities in the emerging economies, especially in China are some of the factors propelling the growth of the global 3D concrete printing market. However, the high cost of 3D concrete printers and less availability of skilled labor are some of the factors hampering the growth of the global 3D concrete printing market.
The global 3D concrete printing market is segmented based on the offering, technology, and end users. Based on the offering, the market is segmented into printing services, software, and materials. Based on, the technology the market is sub-segmented into the extrusion-based, powder-based. Further, on the basis of end users, the market is sub-segmented into architecture, industrial, agriculture, domestic, and others. The above-mentioned segments can be customized as per the requirements. The above mentioned segments can be customized as per the requirements. On the basis of end users, the domestic segment is projected hold prominent share the global 3D concrete printing market. Rapid growth in urbanization, the use of 3D printing in home construction has surged. When compared to traditional construction methods, Concrete 3D printing helps to save time, effort, and material. However, 3D printers are not yet capable of creating a fully functional house. Only the frame and walls of the house are built while the other elements, including windows, electricity, or plumbing, need to be installed separately. 3D printed houses can be affordable as well as eco-friendly as they can be built with organic, eco-friendly materials. Companies in the industry are turning to 3D printing technology to construct houses due to these aforementioned factors. For instance In November 2019, Larsen & Toubro Construction (L&T) completed the country's first 3D printed two-Storey building. Made up with locally sourced 3D printable concrete mix developed by L&T's own in-house team, the building was fabricated using a large-format concrete 3D printer supplied by OEM COBOD.
Geographically market is segmented into: North America, Europe, Asia- Pacific, and the Rest of the World. Asia- Pacific is projected to exhibit the fastest growth in the global 3D concrete printing market over the forecast period. The increasing interest of government and regulatory bodies towards green construction activities in the emerging economies such as India and China and rapid industrialization and urbanization are some of the major factors contributing in the growth of the 3D concrete printing market in Asia Pacific. For instance, in 2021, Finance Minister of India inaugurated India's first 3D printed house at the Indian Institute of Technology (IIT) Madras campus. The 600 square feet single-story house has been constructed using indigenous concrete 3D printing technology. Thus, construction activity has been rising in the Asia-Pacific, which is projected to lift the 3D concrete printing market.
The major companies serving the global 3D concrete printing market include 3D Printhuset, Acciona, S.A, Apis Cor, Contour Crafting Corp., Foster + Partners Group Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in 2020, US-based Pikus Concrete joined hands with Sika to commercialize 3D concrete printing technology in the construction industry and has commenced its operation in Lehi, Utah. The company is working on implementing the technology in the first construction projects.
Research Methodology
The market study of the global 3D concrete printing market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: