North America 3D Printed Homes Market Research Report: Forecast (2023-2028)
Market Definition
3D Printed Homes are designed and built using construction technologies that use the 3D printing method. These homes are faster to create and are way better than the traditionally constructed structures in many ways.
Market Insights & Analysis: North America 3D Printed Homes Market (2023-28)
The North America 3D Printed Homes Market is projected to grow at a CAGR of more than 50% during the forecast period, i.e., 2023-28. The market is predominantly driven by the steady adoption of 3D printers in the construction industry in order to prototype and develop exact final products while lowering production costs. The propensity to create homes that not just downsize production hours but also reduce carbon footprints has accelerated 3D-printed homes production across North America. With their ability to replace manual labor while facilitating cost-effective, convenient, and environmentally friendly homes, 3D printers have gained traction in recent years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2018-21 |
| Base Year: 2022 | |
| Forecast Period: 2023-28 | |
| CAGR (2023-2028) | 50% |
| Country Covered | The US, Canada, Mexico |
| Key Companies Profiled | ALQUIST., Apis Cor., ICON Technology, Inc., Mighty Buildings, Inc., nidus3D Inc., PERI SE, SQ4D |
| Unit Denominations | USD Million/Billion |
Besides, owing to its ability to infiltrate and choose only the required material, the technology aids in reducing construction waste, thereby furthering the adoption of 3D printed technology in residential projects. Another factor backing the incorporation of 3D printed technologies in buildings is the minimal logistic processes involved during the construction. It is primarily because, these printers, unlike conventional methods, directly mold raw material into the buildings while eliminating the need for a wooden counterpart. Therefore, with greater design freedom, shorter lead times, and digital manufacturing, 3D printing techniques are emerging as an area of remunerative opportunities for accredited investors and tech giants looking forward to trying their hands on residential projects.
In addition, besides, the dependency on robotic or automated builders for creating houses is expected to enthrall in the next five to ten years, thereby compelling the persistent adoption of 3D printing technologies in creating single-family homes. In fact, multiple single-story buildings in the US have been printed using 3D technology in recent years. These buildings have gained momentum because of their ability to sustain hurricanes and earthquakes while costing 30% less than a traditionally built house. Moreover, with the rapid urbanization entwined with the large influx of migrants, the North American region is likely to witness a shortage of homes in future. Thus, with the surging need for bulk production of such futuristic homes in a bid to cater to such expansive habitat demand, the 3D-printed homes market is expected to traverse an upward trajectory in the coming years.
Market Segmentation
Based on Construction Method,
Here, the Extrusion method acquired the maximum share of the North American 3D-printed Homes market in the historical period. It is primarily because this is a basic 3D printing technique adopted while erecting a residential building. With plastic filament as a primary printing material, extrusion 3D printing finds applications in modeling, production, and prototyping. The 3D printer's printing head aids in filament heating and further melting. These additive manufacturing technologies are often preferred for on-site building applications, thereby driving the market further during the forecast period.
On the other hand, Powder Bonding methods are expected to emerge as the second-largest segment with a higher growth pace exhibited in the historical period. It attributes primarily to the swift adoption of these technologies in realizing complex structures. Thus, powder bonding methods are comparatively less labor-intensive, time-consuming, and precisely accurate than traditional methods of building homes.
Recent Developments in the North America 3D Printed Homes Market
Market Dynamics
Key Driver: Escalating Habitat Crisis Across North America
According to the World Economic Forum, by 2030, three billion people would need improved housing, therefore nearly 96,000 new homes needs to be constructed every day. In line with this, numerous construction companies would face immense pressure to alleviate housing shortages across the region, especially in Texas. Thus, to overcome the pressure, 3D printing technology would act as a helpful aspect, as it can build high-quality homes in a fraction of time, efficiently fixing the home crisis. Because of these benefits, the newer residential projects have been witnessing the adoption of 3D printing for the past few years. More companies are now investing in these technologies, owing to the ever-increasing demand for family homes across North America, further driving the 3D Printed Homes Market in the region.
Possible Restraint: Generous Capital Investment Requirement
Despite the numerous benefits of 3D printing technology in creating affordable and durable homes, the market may face certain hindrances in terms of higher purchasing or renting costs of 3D printers. In fact, getting them to the site is itself a tedious task and is likely to impede the market growth as construction professionals are getting a bit hesitant while making adoption. In addition, the initial purchase expenditure excludes materials or maintenance, making 3D printers a bit pricey. These aspects may influence the market growth negatively in the coming years.
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Frequently Asked Questions
A. The North America 3D Printed Homes Market is projected to grow at a CAGR of more than 50% during 2023-28.
A. The ever-increasing demand for family homes across North America to drive the 3D Printed Homes Market during 2023-28.
A. The leading players in the North America 3D Printed Homes Market are ALQUIST., Apis Cor., ICON Technology, Inc., Mighty Buildings, Inc., nidus3D Inc., PERI SE, SQ4D, Others.
A. Extrusion method is anticipated to emerge as an area of remunerative opportunities for the leading players in the North America 3D Printed Homes Market during the forecast period.
A. Higher purchasing or renting costs of 3D printers might impede the growth of the North America 3D Printed Homes Market during 2023-28.
