3D Printing Construction Market Trends
Growth Drivers
- Rapidly Developing Construction Industry to Boost the Market Growth
- The total spending in the global construction industry was estimated to reach around USD 12 trillion in 2023 while the spending is further projected to drop to about USD 20 trillion by the year 2035.
- In the construction industry, 3D printing is essential since it can create a physical model of a digital image. In 3D printing, specialized 3D printers are used that can manufacture a real-time 3D model by using materials such as, concrete, metal, polymer, and others. 3D printing assists designers and architects to build any complex design and it also avoids labor expensive and is intensive. Hence, such a higher demand is anticipated to drive the growth of the market over the forecast period.
- Growing Utilization in the Development of Robots
- It was observed that about 375,000 new robots are launched in the market annually while approximately 85% of the companies are noticed to be adding robotics in their working infrastructure.
- Higher Demand in Automotive Industry
- As of 2021, automobile sale across the globe was anticipated to be around 65 million units.
- Increasing Demand for 3D Printing in Jewelry Designing
- For instance, in 2022, the global jewelry segment was estimated to reach approximately USD 250 billion.
Challenges
- Presence of Alternatives in the Market
- Requirement for Higher Initial Investment
- Constant Need for the Maintenance of 3D Printers
- The global 3D printing construction market is segmented and analyzed for demand and supply by end-user into building, infrastructure, and others, out of which, the building segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the escalating spending on the construction of buildings. For instance, in 2022, residential and nonresidential construction received total spending of around USD 900 billion and USD 500 billion respectively in the United States.
3D Printing Construction Market: Key Insights
The global 3D printing construction market is estimated to garner a revenue of USD 3709.51 trillion by the end of 2035 by growing at a CAGR of ~248.90% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 1.4 billion in the year 2022. The growth of the market can primarily be attributed to the higher demand in the aerospace industry owing to the rising aerospace export/import volume. As of 2021, the total export volume of aerospace in the United States reached nearly USD 90 billion while in Canada, it was estimated to hit approximately USD 10 billion.
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Global 3D printing construction market trends such as, growing demand for robotics and respective technological advancement are projected to influence the growth of the market positively over the forecast period. For instance, around 2.5 million industrial robots were noticed to be functioning in factories. Moreover, the growing manufacturing of automobiles, such as commercial and passenger vehicles, is further expected to increase the growth of the market over the forecast period. It was observed that in 2022, approximately 200 million vehicles including three & two-wheelers, commercial, passenger, and others were sold out across the globe. Hence, all these factors are expected to hike the growth of the market during the forecast period.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
98.7% |
|
Base Year Market Size (2024) |
USD 72.14 million |
|
Forecast Year Market Size (2037) |
USD 57.25 billion |
|
Regional Scope |
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