Adoption of Building Information Modeling (BIM) to Foster Significant Growth in the 3D Printing Construction Market

(MENAFN- EIN Presswire) p>3D printing construction market

The global 3D printing construction market is likely to reach USD 25,640.5 mn by 2027, at a CAGR of 118.5% during 2021-2027, according to QuantAlign Research.

LONDON, UNITED KINGDOM, February 16, 2021 /EINPresswire.com / -- Rising shift towards environment friendly construction techniques coupled with significant innovations in 3D printing technologies is projected to drive the global market for 3D printing construction. Also, growing construction sector across the globe is set to fuel the market growth over the next seven years. The global 3D printing construction market is likely to reach USD 25,640.5 million by 2027, at a CAGR of 118.5% over the forecast period (2021-2027) according to QuantAlign Research.

Additionally, increasing adoption of building information modeling (BIM) is expected to further revolutionize the global market. BIM refers to a 3D model-based process that offers better insight and tools for architects & engineers to optimally plan, design and construct buildings/infrastructure. BIM data may be used to demonstrate the entire building life-cycle from designing to demolition & material reuse. These 3D modeled buildings offer higher accuracy and speedy construction along with waste reduction.

As per Occupational Safety & Health Administration (OSHA) agency, more than 5,000 workers lose their lives on the job each day. As 3D printing makes construction much more automated and programmable, workplace injuries would considerably decrease. However, high capital costs along with stringent regulatory requirements may hinder the market growth over the forecast period.

Moreover, the building segment emerged as the largest end-use sector in 2020, and is likely to ascend at a significant CAGR from 2021-2027. The aforementioned growth can be primarily attributed to the growing construction sector across the globe, rapid industrialization, and higher performance efficiency of 3D printing technology. However, the infrastructure segment is also growing at a high pace due to burgeoning need for complex and intricate designs among the consumers.

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Key insights:
•Concrete segment held the majority share of the global market in 2020, and is expected to continue its dominance over the coming years
•Extrusion segment dominated the global market in 2020, while the powder bonding segment is likely to witness considerable growth over the next seven years
•Full building segment held the major share of the market in 2020, while growing at a significant CAGR over the forecast period

Key players operating in the market include WASP S.r.l; CyBe Construction; Sika AG; COBOD International A/S; Yingchuang Building Technique Co.Ltd. (WinSun); XtreeE; MONOLITE UK Ltd; Apis Cor; & Contour Crafting Corporation; among others.

Key questions Answered in the report:
•What is the total available market, and projected revenue for the 3D printing construction market from 2021 to 2027?
•Who are the major players in the 3D printing construction market?
•What is the market segmentation?
•How has the global demand for 3D printing construction performing, and what are the key drivers for market growth?
•What are the key regional markets across the globe?
•What are the key strategies adopted by players operating in the 3D printing construction market?
•How is the competitive landscape of the market?
•What has been the impact of COVID-19 on the global 3D printing construction market?

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The report examines and provides an extensive overview of the global market. The report identifies key industry trends, and covers 3D printing construction market landscape. The report builds a short- and long-term forecast model covering the period from 2017 to 2027.

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