3D Printing Market – Growth, Trends, And Forecast (2019 – 2024)
The report presents an in-depth assessment of the 3D Printing including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles, and strategies. The report also presents forecasts for 3D Printing investments from 2019 till 2024.
The 3D printing market was valued at USD 10.58 billion in 2018 and is expected to reach a value of USD 49.01 billion by 2024, at a CAGR of 29.48% over the forecast period 2019-2024.
The 3D Printing market is highly competitive and consists of a number of major players. Top Companies like Stratasys Ltd, 3D Systems Corporation, EOS GmbH, Electro Optical Systems, Concept Ð Laser GmbH, Sisma S.P.A., ExOne Co, Arcam AB, Hewlett Packard Inc., Proto Labs Inc., Materialise NV (ADR) among others
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Scope of the Report
Additive manufacturing, also known as 3D printing, is a technology that creates objects, as it offers a plethora of opportunities in production, design, and performance of novel architectural forms, construction systems, and materials. Different material are used such as plastics, metals, and ceramics with various technologies that can cater to many end-users.
Key Market Trends
Fused Deposition Modelling Technology is Leading the Market
– In the 3D printing process, printers use a thermoplastic filament that is heated to its melting point and then extrude it layer by layer, according to the shape and cross-section of the product, to create a three-dimensional object.
– Fuel Deposition Modelling (FDM) has applications in automotive, consumer goods, aerospace, and other industries. This is an affordable solution to build durable and stable parts in these industries. It is also effective in manufacturing complex parts, the designs of which are too complex for traditional methods to execute.
– Over recent years, advancements of the technique have resulted in the deployment of low-cost FDM solutions and increased market penetration. The method is now being used for bio-printing applications using bio-synthetic polymers.
– Moreover, FDM has 46% of market coverage among all the technologies used for 3D printing.
North America Holds the Largest Share in the Market
– There have been a series of new product launches, mergers, and acquisitions in North America to utilize the potential on offer through 3D printing. The major factor influencing the rise in investments has been the continuous evolution and application of new technologies exploring an untapped market in the manufacturing sector.
– With these series of investments, healthcare, aerospace & defense, industrial, and consumer product applications in North America are set to boom over the upcoming years. For instance, the University of Dayton Research Institute was awarded USD 8 million from America Makes, the National Additive Manufacturing Innovation Institute, to lead a national program that will use additive manufacturing to help the Air Force more efficiently and affordably sustain aging aircraft. Funding for the award was provided by the Air Force Research Laboratory, and directed to UDRI by America Makes under a new cooperative agreement between America Makes and AFRL.
– Various government organizations, such as NASA, have identified that heavy investments in 3D printing technologies can contribute significantly to space applications, and develop zero-G technologies, driving the growth of the market.
– Fitness trackers and smart apparel are also expected to be driving factors for 3D printing technology in the United States. It is estimated that around 19% of the broadband households had a wearable fitness device.
– Changing consumer preferences and a rising need for customization has bought about a need to create a flexible band and electronics systems that could be realized using 3D printing technology, thereby driving its growth.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: 3D Printing Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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