3D Printing Market In Construction Industry -Future Scope-The NewsWeek Group
IndustryARC has published a new market research report on the 3D printing in the construction market. The report highlights the increasingly growing usage of 3D printing in the manufacturing of small components for the construction industry. According to this report, the growing demand for safe and precise construction in accordance with environment conservation standards will drive the market growth. In 2018, the global 3D printing market size in the construction market earned a revenue of $175 million and expected to grow at a CAGR of 14.89% during the forecast period 2019-2025.
The report covers 3D printing in the construction market size by Product and applications, 3D printing in the construction market share by top 5 companies and also the market share by start-ups during the forecast period.
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‘The current business environment has become highly competitive as the leading industries are challenged by the demand for quality, safety, productivity and environmental protection. 3D printing in construction allow fast and accurate construction of complex and customized items with low labor costs and less waste production,’ says the analyst of 3D printing in construction market report. Further analysis by the same include analytical study of many key market players such as Zhuoda Group, WinSun Company, Cazza Construction Company, Belatchew Arkitekter, Apis Cor, Tecnalia, Contour Crafting Corp., BetAbram, Acciona S.A, and Skanska S.A.
Severe housing crisis faced by an increasing number of citizens and expanding urbanization will majorly impact the growth of 3D printing in construction market. Since the labor cost is increasing, construction companies are gravitating towards the usage of 3D printing in construction as it helps in lowering the manufacturing cost. The usage has expanded to the point that these printers are being used for manufacturing of entire 3D printed buildings as a quick solution to world’s ongoing housing crisis. With APAC region housing some of the world’s most densely populated regions including India, China, and the Middle-East, it became the geographical leader of the market with a regional share of 34% in 2018.
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3D printing in construction is being disrupted by several new applications such as space companies including NASA and SpaceX considering their usage for constructing buildings on extraterrestrial bodies. Various extraterrestrial printed structures on Mars and the Moon have been virtually implemented using this technique. However, key application segment of the 3D printing in construction market remains to be residential which is set to rise with a CAGR of 12.56% through 2025.
A. Building Information Modelling Market
B. Big Data Market
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Press Release Distributed by The Express Wire
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