Revenue for 3D-Printed Buildings Construction Is Expected to Experience a 51% Compound Annual Growth Rate from 2020-2029
3D printing has the potential to revolutionize construction and unlock new markets such as affordable homes
A new report from Guidehouse Insights examines the market for 3D printing construction technology, providing forecasts for global market size, segmented by region and building type, through 2029.
3D printing technology for construction has significantly advanced in the past 5 years, with innovation in robotics, material science, and software. After years of R&D, the market is nearing a tipping point as companies are moving beyond pilots and demonstration projects to selling their products, including 3D construction printers, full buildings, and building components. Click to tweet: According to a new report from @WeAreGHInsights, global market revenue for 3D-printed construction of buildings is expected to grow from $6.5 million in 2020 to $264 million in 2029 at a compound annual growth rate (CAGR) of 51%.
“Cost savings, reduced construction time, and sustainability compared with traditional construction are the most significant drivers in the market,” says Sasha Wedekind, research analyst with Guidehouse Insights. “Considering current tight construction margins and labor shortages, 3D printing has the potential to revolutionize construction and unlock new markets to the industry, such as affordable homes.”
Despite significant momentum, widespread adoption of the technology in the coming years is unlikely, according to the report. The first years of commercialization will be critical to overcoming stakeholder skepticism and demonstrating that 3D printing can produce permitted, habitable, and functional homes and buildings. North America is expected to be the largest region for 3D construction revenue, followed by Europe and Asia Pacific. Significant market activity is also expected in the Middle East due to Dubai’s ambitious 3D Printing Strategy and in Latin America and Africa, where multiple 3D printing companies are already expanding their businesses.
The report, 3D Printing for Residential and Commercial Construction, analyzes the market for 3D printing construction technology. This report covers the 3D printing market for residential and commercial construction, including walls, foundations, floors, façades, roofs, and other building envelope elements. This forecast excludes infrastructure (such as bridges) and building finishing elements (such as stairs). The report analyzes market drivers and barriers, assesses the state of 3D printing technology, and provides profiles of market vendors. The global market size forecast is segmented by region and building type. Additionally, the report provides a detailed segmentation for the North American market by building type, construction material type, and product type. An executive summary of the report is available for free download on the Guidehouse Insights website.
*The information contained in this press release concerning the report, 3D Printing for Residential and Commercial Construction, is a summary and reflects the current expectations of Guidehouse Insights based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Insights nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.