Increase in the development of 3D printing and the surging demand for prototype applications in various industries (healthcare, automotive, aerospace & defense)
PUNE, MAHARSHTRA, INDIA, September 14, 2021 /EINPresswire.com/ — 3D Printing Market Report contains key drivers and Restraints of the market with their information and market competition situation among the vendors and company profile. Product picture, specification, classification, category are also mentioned. Comprehensively evaluates absolute scrutiny of the competitive landscape, covering value chain and key players.
3D printing market is valued at USD 11.73 Billion in 2019 and expected to reach USD 25.99 Billion by 2025 with the CAGR of 14.2 % over the forecast period.
Increase in the development of 3D printing (3DP) and the surging demand for prototype applications in various industries (especially healthcare, automotive, aerospace and defense) are the major factors driving market growth. 3D Printing Market trends Increased investment on healthcare expenditure and various technological advancements in software for easy operations are key drivers for Global 3D Printings Market.
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In this report, our team offers a thorough investigation of 3D Printing Market, SWOT examination of the most prominent players right now. Alongside an industrial chain, market measurements regarding revenue, sales, value, capacity, regional market examination, section insightful information, and market forecast are offered in the full investigation, and so forth.
Buyers and suppliers in the 3D printing industry,
• tratasys Ltd
• 3D Systems Corporation
• The Exone Company
• Arcam Group
• Materialise NV
• Mcor Technologies Ltd
• EOS GmbH
• Organovo Holdings Inc
• 3D Ceram
• Carbon 3D
Global 3D printing market Dynamics:
The active development of 3D printing (3DP) and the surging demand for prototype applications in various industries (especially healthcare, automotive, aerospace and defense) are the major factors driving market growth. As per 3ders.org, 3D printed train seat prototype helped POLGAR KFT, a manufacturer of automotive parts saved almost 90% of its traditional prototyping costs by an effective 3D technology. Therefore, prototyping is the major driver for the growth of 3D printing market.In the field of health, additive manufacturing contributes to the development of artificial tissues and muscles, which reproduce natural human tissue and can be used surgical replacements in human body. These features should help drive the adoption of 3DP across the healthcare vertical and make a huge contribution to the growth of the industrial segment. However, common misunderstandings of small and medium enterprises in the prototyping process have hampered the adoption of additive manufacturing. Design companies, especially SMEs, view investing in prototypes as responsible investment rather than trying to understand the benefits and benefits of prototypes.
These companies generally believe that prototyping is only an expensive step before manufacturing. This perception of prototypes, coupled with the lack of technical knowledge and the imminent lack of standard process control, may act as a restraint for the market growth. In association with AI and IoT, 3D printing can enable truly digital manufacturing. Digital manufacturing processes can be driven from IoT, which can then be transformed into decision making with AI and then 3D printing can make parts from design files. Another opportunity for 3D printing can be found in construction business. Supported by initiatives such as the Dubai Initiative mentioned in Jezard, 2018, project predicts that 25% of Dubai buildings will be 3D printed by 2025. Likewise, China has started its experimentation in the same, with building a six-storey apartment that has been 3D printed and a 1100 square meters villa. Hence, verticals like construction and digital manufacturing offer great opportunities for 3D printing in coming years.
3D Printing Market Segmentation
By Printer Type:
• Desktop 3D printer
• Industrial 3D printer
• Stereo lithography
• Fused Deposition modelling
• Selective Laser Sintering
• Selective Laser melting
• Electron Beam melting
• Laminated Object manufacturing
• Digital Light processing
• Metals & Alloys
• Consumer Products
• Functional parts
• Industrial 3D printing
• Desktop 3D printing
Key Highlights of the 3D Printing Market Report :
3D Printing Market Study Coverage: It incorporates key market sections, key makers secured, the extent of items offered in the years considered, worldwide 3D Printing market and study goals. Moreover, it contacts the division study gave in the report based on the sort of item and applications.
3D Printing Market Executive outline: This area stresses the key investigations, market development rate, serious scene, market drivers, patterns, and issues notwithstanding the naturally visible pointers.
3D Printing Market Production by Region: The report conveys information identified with import and fare, income, creation, and key players of every single local market contemplated are canvassed right now.
3D Printing Market Profile of Manufacturers: Analysis of each market player profiled is detailed in this section. This portion likewise provides SWOT investigation, items, generation, worth, limit, and other indispensable elements of the individual player.
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North America is expected to remain a dominant region in the Global 3D printing market.
North America has become the largest market for 3D printing and, due to the widespread use of additive manufacturing in the region, its share of revenue in 2019 exceeds 35%. Countries in North America (such as the United States and Canada) have adopted this technology in various manufacturing processes and are important early adopters. This factor should help the region to maintain the largest market share in the coming years. Regional markets offer many opportunities for additive manufacturing in different applications.
In contrast, in terms of geographic footprint, Europe happens to be the largest region. It is the hometown of several participants in the additive manufacturing industry who have strong technical expertise in the additive manufacturing process. Therefore, it is expected that the European market will continue to retain the second largest market share over the next few years.
However, the Asia-Pacific region is expected to achieve the highest compound annual growth rate over the forecast period. Due to the development and upgrading of the entire manufacturing industry in the region, the rapid adoption of additive manufacturing is expected to stimulate growth. The region is also an emerging manufacturing center for the automotive and healthcare industries. There are five key industries with the greatest potential of 3D printing: heavy industry, automotive, consumer goods, health, medical and aerospace. These five industries estimated to represent 76% of the world manufacturing, totaling $9 trillion per year. According to the results of the Industry expert survey, 23% to 40% of parts from these industries will be manufactured via 3D printing in the next 5 to 10 years, or 2 to 3 USD billions of global manufacturing will be affected by 3D printing in the next five to ten years. Many large countries in APAC region invest a large sum to maintain manufacturing competitiveness. The consumer electronics production base and the rapid urbanization process have also fueled the growth in demand for 3D printers in the region.
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