The global 3D printing market is estimated to surpass $32 billion by 2023 growing at an estimated CAGR of more than 20.5% during 2018 to 2023. The market is majorly driven by important characteristics i.e. increasing number of government investments in 3D printing projects, ease in production, customizable products and reduction in manufacturing cost.
What is 3D Printing?
3D printing or additive manufacturing employs layer-by-layer deposition of suitable materials to create an object. Acceptance of 3D printing has increased progressively from prototyping to low volume manufacturing of customized products. Different type of 3D printing technologies are Stereo-lithography (SLA), Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), among others. These above mentioned technologies are deployed in various industries such as consumers, automotive, construction, aerospace, medical and others.
This report incorporates an in-depth assessment of 3D printing market by type, technology, application, end user industries and geography. The offering types of 3D printing encompassed in the scope include hardware, software and services. The hardware segment is further sub segmented into printers, scanners and materials.
What are the major end users for 3D Printing?
The report includes assessment of various end user industries such as automotive, construction, aerospace, medical, consumers and others. Medical industry is one of the major end users for 3D printing and holds the tremendous opportunity in near future. This segment is expected to dominate the market from short to long term. 3D Printing in medical industry can be employed for multiple applications such as surgical instruments, dental implants, orthopedic implants, prosthetic implants, cranial implants and others.
Market Research and Market Trends of 3D Printing Ecosystem
- X Electrical Vehicle (XEV), an Italian automobile manufacturer collaborated with Polymaker, a Shanghai-based company to produce the world's first 3D-printed vehicle (LSEV) and this is expected to enter the China market by second half of 2019. This launch of 3D-printed vehicle is anticipated to provide significant opportunities for the 3d printing market in automotive industry.
- The American space company, SpaceX has sent a Dragon capsule to the International Space Station (ISS) which carried the first ever zero-G 3D printer. In addition, increasing traction by space agencies such as National Aeronautics and Space Administration (NASA), European Space Agency (ESA) and others is anticipated to show significant impact on the 3D printing market in near future.
- The bio printers’ technology is in the experimental stage and is anticipated to provide prospects for the 3d printing market in food industry. Furthermore, the importance of this technology has resulted in growing R&D investments by food companies such as chocolate & confectionery manufactures.
- According to the Oxford Performance Materials, more than 75% of the American patients damaged skull by disease or trauma was replaced with an implant from Oxford Performance Materials 3D printer and hence brought revolution in the healthcare industry
- The consumer 3D printers market is becoming highly consolidated with Stratasys Ltd. and 3D Systems Corp. being the global behemoths in this industry. 3DSystems has been highly active with a string of acquisitions of smaller companies across the globe
Who are the Major Players in 3D Printing market?
The companies referred in the market research report includes Stratasys Ltd., Materialise NV, 3D Systems Corp., EOS GmbH, Voxeljet AG, The Exone Company, Arcam Group, Proto Labs, Inc., Envisiontec GmbH, SLM Solutions Group AG. and more than 15 other companies.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.