Impact of Covid-19 Outbreak on 3D Concrete Printing Market Share

27/mag/2020 07:05:47 Automotive Market Research Reports Contatta l'autore

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3D concrete printing market, an innovative construction method is used to fabricate building and construction components. It is basically, a robotic system used for fabricating various building components such as walls, roofs, lintels, and several others. 3D concrete printing technology promises greater advantages in the construction field, such as faster construction process, lower labor costs, and efficient use of raw materials with less wastage.

3D concrete printing allows architects to design and build complex concrete architectural and structural elements, deliver personalized & customized solutions, while, controlling the cost & time required to market, freeing them from the restrictions of standardized framework. Additional advantages of 3D concrete printing include savings on cement usages and construction close to where it is needed and in inaccessible areas, less arduous, and less dangerous worksites.

3D concrete printers are capable of fabricating objects that are challenging/ difficult or impossible to be manufactured through conventional construction processes. 3D concrete printers are convenient for achieving faster, safer, and environment-friendly construction buildings. 3D Concrete printing method is based on a digital model and hence, allows the implementation of various complex designs in the construction applications.

Over the past few years, the 3D concrete printing market is growing rapidly, mainly due to the increasing uptake of the technology in the burgeoning construction industry. The rapid growth in the construction sector across the globe is increasing market demand. According to Market Research Future (MRFR), gains of the global 3D concrete printing market would reach to USD 69.9 MN by 2023, registering a CAGR of 14.05% throughout the forecast period (2018-2023).

The primary factor propelling the market growth is the high precision and efficiency of 3D concrete printing process over traditional construction method. Moreover, advantages that the 3D concrete printing technology provides a construction project to increase its popularity among the construction companies and fuel the demand in the market.

On the other hand, lack of awareness towards the benefits of 3D concrete printing technology may hamper the growth of the market. Using 3D printing in construction can reduce the material wastages, significantly, thereby reducing the overall project cost. These superior advantages over traditional construction process would support the growth of the 3D concrete printing market over the review period.

Global 3D Concrete Printing Market – Segmentation

The report segments the market into four key dynamics to widen the scope of understanding,

By Concrete Type   : Precast Concrete, Shotcrete, Ready Mix Concrete, and High-density Concrete, among others.

By Application         : Residential, Industrial, and Agricultural, among others.

By End-use               : Walls, Roofs, Floor, and Staircase, among others.

By Regions                : Asia Pacific, North America, Europe, and the Rest-of-the-World.

3D Concrete Printing Market Regional Analysis

North America dominates the global 3D concrete printing market. In the year 2016, the market was valued at USD 10.0 MN and accounted for the largest as in 35.63% of the market share. The 3D concrete printing market in North America is projected to grow at a CAGR of 14.20% throughout the forecast period (2018-2023).

Growing consumer preference for green buildings and constant investments in commercial real estate are some of the major factors acting as a tailwind for the growth of the regional market. The US is the largest market for 3D concrete printing in the North American region.

The 3D concrete printing market in the European region stands second in the global space. In 2016, the share of the region in the global 3D concrete printing market reached to 29.4%, while its market value reached USD 82 MN. The European 3D concrete printing market is projected to grow at a CAGR of 13.20% during the forecast period.

The Asia Pacific 3D concrete printing market is rapidly emerging as a profitable market, globally. In 2016, the value of the regional 3D concrete printing market had reached over USD 6 MN, which is further expected to grow at a CAGR of 14.51%. Rapid urbanization and industrialization alongside, the increasing purchasing power of consumers in the region drive the growth of the APAC market.

Moreover, spreading awareness towards the advantages of 3D printing technology, increasing environmental concern, and the augmenting demand and activities in the construction sector foster the 3D concrete printing market in the region.  The APAC region is expected to grow briskly over the forecast period.

Global 3D Concrete Printing Market _ Competitive Analysis

Highly competitive, the 3D concrete printing market appears to be fragmented due to the presence of several big and small-scale players. These players focus on optimizing situational awareness to ensure their mission success. They adopt various strategic initiatives such as M&A activities, collaboration, and innovations, seeking market expansion constantly. 

These players possess state-of-the-art facilities to develop software and strong sales and distribution network, which can help them to gain a leading position in the market. Focused on inbound lead generation increasingly, marketers operating in the market look for ROI-oriented strategies that can pay off quickly.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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