Ease of development of customized products, reduction in overall manufacturing costs, and government investments supports will spur 3D Printing Market
Published Date | 2019 March 13
Demand of 3D printing in medical industry for manufacturing of personalized medical implants and prostheses, mass production without high cost with specified design in aerospace industry will boost 3D Printing market in upcoming year. Moreover, the major factor driving the market growth is the growing use of 3D printing in rapid prototyping, or real-time prototyping which benefits the whole design and production process, ultimately leading to reduced lead time and speed to market. Furthermore, demand from aerospace, automotive, medical, consumer products, and education industries, better 3D printing service sector accelerating the growth of 3D Printing market.
Additionally, 3D Printing technology helps consumers can develop products as per their requirements such as customized toys, shoes, decorative items, jewellery, and more, thus, giving the freedom of producing items as per the specification which will contribute to 3D Printing market growth during the forecast period. With technological advancements and product innovations, use of 3D printing technology has got various applications in a wide variety of areas, such as jet engines, advanced prosthetics, and even living tissue will aiding to the growth of 3D Printing market.
According to BlueWeave Consulting, The Global 3D Printing Market is expected to grow with a significant rate during the forecast period 2018-2025 owing to reduction of errors, decrease in development cost and time, and the ability to build customized products.
FDM Technology type of 3D Printing market is projected to be the leading segment of the overall market during the forecast period
On the basis of Technology type, the 3D printing market has been segmented into segmented into Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), and Stereolithography (SLA), Electron Beam Melting (EBM) and Digital Light Processing (DLP). FDM dominates the global 3D printing owing application of FDM in producing objects that are durable and also used to print of that object that will endure large temperature changes, mechanical stress, and chemical corrosion. SLA is anticipated to fastest growing market due to its properties to print parts in high resolution and a smooth surface finish directly out the machine and can create accurate parts with repeatable dimensions. SLS will drive by its ability to easily make very complex geometries directly from digital CAD data.
Services is projected to dominating solutions in the 3D Printing market during forecast period
On the basis of Solution offering, the global 3D printing market has been segmental into Hardware, Software, and Services. Services Solutions is anticipated to leading the market owing to increase in the demand of advanced in the printing technology and materials, services sector is garnering significant growth as a source of profit generation, compared to printers and materials. Hardware segment will fuel by demand from various sectors such as healthcare, aerospace, and automotive. The software segment will drive by rise in demand of 3D printer and software type.
Healthcare is projected to leading industry for utilizing applications of the 3D printing during forecast period
On the basis of application, the global 3D printing market has been segmented into Automotive, Healthcare, Industrial, Consumer Electronics, Aerospace & Defense, and Others. By application type, Healthcare will lead the market owing to applications of 3D printing as customized implants, prosthetics, medical models and medical devices. Moreover, the advances in technology and improvement in the healthcare infrastructure, on the one hand, and an increase both in the percentage of the aging population and in the investment in research and development sector, on the other. Automotive sector will drive by rapid prototyping, lower turnaround time, low consumption and wastage andlower cost of production.
Asia Pacific accounts for lion’s share of the global 3D printing market during the anticipated period.
On the basis of region, the 3D Printing market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific dominates the world 3D Printing market over the forecast period owing to growing demand for applications of 3D printing in various industries, such as consumer goods, healthcare, education and research, defense, aerospace, and automotive. Furthermore the automotive and aerospace industries use this technology to manufacture affordable, complex, and lighter components. is one of the key factors estimated to encourage the growth of the Asia Pacific market in upcoming periods. North America will be fastest growing market owing to efficient use of materials, minimized human errors, customization of products, and reduced production time and cost.
Global 3D Printing Market Competitive Landscape
Companies, such as, Stratasys , Solidscape, 3D Systems EOS GmbH, GE Additive , SLM Solutions , HP, and EnvisionTEC , Arcam AB, Autodesk, Inc., The ExOne Company, Hoganas AB, Optomec, Inc., Organovo Holdings, Inc., Ponoko Limited, , Concept Laser GmbH, , Voxeljet Technology GmbH, Materialise NV (ADR), Proto Labs Inc., Citim GmbH and Digital Mechanics Sweden AB are the key players in manufacturing of 3D Printing . In terms of services offerings, Solidscape, Inc., Stratasys, Ltd., and EOS GmbH.are the major players in the market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global 3D Printing Market size & forecast. The report promises to provide state-of-the-art technology of 3D Printing production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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