The total 3D Printing is likely to reach $ 34 billion by the end of 2023, growing at a CAGR of 27% from 2017-2023. The factors contributing towards the growth of 3D printing are easy manufacturing and heavy cost reductions, reduction of errors, optimum utilization of the raw materials, production of customized products, rising innovative raw materials for production and efficient use of production time and financials. A huge demand has been observed for precision machined components in a large range of end use industries. Currently, the 3D Printing market is expected to witness high growth as there is latent demand for easy creation of the complex design and geometries in certain industries as medical and dental. Also, the market is experiencing the increased competitive pressure for the investment in R&D as well as strong hunger for innovative printing materials and manufacturing techniques.
The Global 3D Printing Market report 2018 covers deep dive segmentation in every aspect by type, application, application, end-user and region. This report also Covers Pin-point Analysis on Growth, Industry Size, statistics, Future Development Strategies and Business Opportunities The Global 3D Printing Market report covers an exhaustive understanding of the 3D Printing Industry that encompasses various important factors like the product type, sales, revenue, competition market size, regions, and applications. The report further provides a thorough understanding of the 3D Printing Market through value chain analysis and SWOT, which helps the consumer/user/ reader to understand expected trends in the 3D Printing Industry, demand-supply situation in the market, its weaknesses, strengths and various opportunities the market can offer. Statistics and data have been included in the 3D Printing Market to support the information in the report through charts and tables for enhanced readability and to present more engaging content.
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In 2017, the 3D Printing market is dominated by North America followed by Europe and then Asia-Pacific. This growth in 3D Printing market is likely to occur due to growing applications of additive manufacturing in automobile, medical and consumer industry. The 3D printing technology in Defense industry particularly in USA will experience robust CAGR of 24% in the next five years mainly due to as 3D printing helps in reducing weight, leading to improved strength. The technology can produce highly complex parts as single-component systems. Easy printing spare parts and replacements 3D printing technology is natural fit for many defense applications.
The Plastic segment accounted for the largest market share in 2017 and the category of other materials such as wax, paper, laywood, etc. are anticipated to witness the highest growth compelled by the increasing use of these materials in healthcare and medical industries.
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The various end-user industries of 3D Printing market are healthcare and medical, aerospace, automotive, defense and military, energy, education and others. The growing end use verticals such as wearable electronics, education and food and bakery will experience the highest CAGR from 2018-2023 whereas automotive, defense and healthcare and medical would be the largest market share owners during the forecast period. 3D bioprinting is developing very furiously as it is highly supported by the applications in In-Vitro Testing to discover new drugs as well as prototype printing of the organs and body parts.
Huge investment has been done by the companies in 3D Printing Technology for example in 2016, GE has invested about $1.4 billion on buying two European 3D Printing companies Arcam AB from Sweden and SLM Solutions Group from Germany. This acquisition is expected to cut costs by US$3 billion to US$5 billion across the company, as the 3D technology could heavily reduce design and material costs and it is expected that company would purchase approximately 1,000 new 3D printing machines by the next decade. The major players in the 3D Printing market are 3D Systems, HP, Autodesk, Inc., Hoganas AB, Stratasys Ltd, Optomec, Inc., Arcam Group, The ExOne Company, Beijing Tiertime Technology, Nano Dimensions, Renishaw PLC, Voxeljet AG, Envisiontec GmbH, EOS GmbH, ARC Group Worldwide and other
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Table of Contents
Introduction
Executive Summary
3D Printing, By Type
Factors influencing the demand of 3D Printing
North America market analysis
Western Europe market analysis
Asia Pacific market analysis and more………
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