Global Industrial 3D Printing Market was valued at USD 11.58 Billion in 2019 and is expected to reach over USD 46.17 Billion by 2026, growing at a CAGR of around 22.5% during the forecast period from 2020 to 2026
According to the report, the global Industrial 3D Printing Market was valued at USD 11.58 Billion in 2019 and is expected to reach over USD 46.17Billion by 2026, growing at a CAGR of around 22.5% during the forecast period from 2020 to 2026.
The demand for Industrial 3D Printing Market is increasing significantly due to extensive uses in customized manufacturing solutions in aerospace, automotive and other manufacturing industry. Rising demand for tailor-made, customized and unique design solutions is also increasing the demand of Industrial 3D Printing Market.
Global Industrial 3D Printing Market: Overview
Industrial 3D printing can also be called as additive printing equipment; it is a technology that lets producers build up objects by utilizing a digital file as well as a range of printing materials. The worldwide market for industrial 3D printing material comprises metals, polymers, and ceramics. Additionally, 3D printing presents a wide range of applications in different industries, specifically industrial products, consumer products, automotive, defense & aerospace, education & research, healthcare, and others.
Global Industrial 3D Printing Market: Growth Factors
Industrial 3D printing technology is primarily beneficial for manufacturing of spare parts, which is very difficult to acquire. Manufactures/producers these days are moving from mass manufacturing to low-volume manufacturing of products which can be utilized across various industries. The global industrial 3D printing market is projected to grow significantly in years to come. Aspects fuelling the development of the market are increasing expenditure by the key players, on rising authoritarian support from the government, product development, expansion in end-user divisions, and effortlessness of manufacturing products.
Industrial 3D printing materials offer a range of advantages, for instance, durability, high sensitivity, flexibility, and stability. Other benefits comprise a decrease in time-to-market particularly for latest products and exclusion of raw material waste, thus these factors are fuelling the growth of the industrial 3D printing market. Product improvement and rising spending on R&D are the most significant developments in the market. Producers/manufacturers are mainly focusing on the formation of low cost and low volume products which can be further utilized across different industries.
Global Industrial 3D Printing Market: Segmentation
The global industrial 3D printing market has been classified in terms of application, component, and region. In terms of component, the industrial 3D printing market is categorized into the material, technology, and services. Based on application, the global market is divided into aerospace, consumer products, education & research, defense, industrial, automotive, and others.
Global Industrial 3D Printing Market: Regional Analysis
Region wise, the industrial 3D printing market is diversified among regions such as North America, Asia Pacific, Europe, and the Middle East and Africa. North America is projected to be the leading region based on market share; it is due to the high progress of this market in North America. In addition, many dental laboratories in North America are likely to propel the market expansion. Europe and Asia-Pacific industrial 3D printing market are also anticipated to grow quickly in the coming years. In Asia-Pacific region, Japan is projected to be the biggest market, it is due to the constructive government policies, the rise in spending by the government on the expansion of industrial 3D printing technology as well as the huge sale of professional printers. China is likely to be the second largest key player after Japan in Asia-Pacific region.
Global Industrial 3D Printing Market: Competitive Players
Some of the most significant market players in the industrial 3D printing market are Stratasys Inc., Arcam AB, 3D Systems, Inc., Optomec, 3D Systems Corporation, Microcomputervertrieb MBH, Materialise NV., among others.
Global Industrial 3D Printing Market: Regional Segment Analysis
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