3D Printing Market Expected to Grow at a CAGR of 12.0% During the Forecast Period 2019–2025
The Global 3D Printing Market stood at US$ 13,800.0 million in 2018 and is expected to grow at a CAGR of 12.0% during the forecast period 2019–2025. Increasing Spending on product development and R&D activities, rising regulatory support by national and local government bodies and growing manufacturing sector are the major drivers for the growth of 3D printing market. In addition, technological advancement in different end-user industry such as healthcare would provide ample growth opportunity for the adoption of 3D printing for various medical diagnoses. Automakers and raw material suppliers for manufacturing sector have realized the benefits of 3D printing solutions, eventually increasing the demand for 3D printing solution in these industries. In the automotive industry, the use of 3D printing technology has been successful in bringing about new shapes to the industry, allowing the industry to produce lighter and more complex structures at affordable price ranges.
In case of 3D printing, numerous layers of different kind of printing materials are formed under machine control to create a 3-dimensional object. The 3-dimensional images can be of varied shapes or geometries. 3D printing offers integration of metals & alloys with other raw materials as per the requirement of the end-user industry, to create specified 3-dimensional objects. Numerous industrial sectors are impacted by 3D printing solutions. Over the past decade, additive manufacturing technologies have drastically changed the way of designing, development and manufacturing of industrial goods.
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“The Product segment dominated the global 3D printing market in 2018”
Based on the component type of 3D Market, the report segments the market into mainly into Printer Type, Material Type and Service Type. The global 3D printing market stood at US$ XX Million in 2018. In 2018, product segment in 3D printing dominated the market with approximately XX% share of the global market.
“Fused Deposition Modelling dominated the technology segment of global 3D Printing market in 2018”
Stereolithography, Selective Laser Sintering, Electron Beam Melting, Fused deposition modelling, Laminated object Manufacturing and Others are the major technologies considered while analysing the regional 3D printing market. Fused Deposition Modelling, Selective Laser Sintering and Stereolithography constitute as the topmost technologies in 3D printing. Fused Deposition Modelling occupied the largest share in 2018 as it is one of the prominent and user-friendly technology that is widely used to create 3D printed objects.
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“3D Printing is majorly applied for Functional parts manufacturing”
Based on application type, Global 3D printing market is bifurcated into functional parts, fit and assembly, prototype modelling, education, metal casting, Visual Aids, Presentation Modelling and other applications. Functional parts captured maximum share during 2018 owing to its fast speed, quality and low cost of additive manufacturing.
“Amongst End User, manufacturing industry held the maximum share in 2018 and is anticipated to maintain its dominance throughout the forecast period 2019–2025”
The major 3D printing end users covered in report are education, automotive, aerospace & defence, healthcare, consumer goods, manufacturing, construction and others. Manufacturing sector dominated 3D printing landscape during 2018 owing to bolstering digitalization wherein 3D printing solutions have paved way for manufacturing companies.
“North America was the largest market for 3D printing technology and is expected to remain dominance throughout the forecast period”
For better understanding of the market penetration of 3D Printing the market is analysed based on geographies and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Taiwan and rest of Asia-Pacific) and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Israel and rest of LAMEA). In 2017, North America dominated the market with maximum share in terms of revenue. Substantial growth in the 3D Printing technology, government initiatives, surging 3D printing investments in emerging economies and continuous establishment of dental labs in the region have considerably contributed towards the remarkable growth of North America 3D printing market. The North American 3D printing market is currently booming, and investment in this sector is rising steadily.
Competitive Landscape -Top 10 Market Players
Key companies profiled in the report include 3D Systems Corporation, Arcam AB, Royal DSM N.V., Stratasys Ltd., Autodesk, Inc., The ExOne Company, Höganäs AB, Organovo Holdings, Inc, Mcor Technologies Limited and Voxeljet AG.
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