27.21% CAGR for Industrial 3D Printing Market to 2023 “Key Insights, Developments, Forecast and Future Trends”
Global industrial 3D printing market on basis of offering, application, process, technology, industry, and geography. Report describes market dynamics that include key drivers, restraints, challenges, and opportunities for growth of industrial 3D printing market and forecasts same till 2023.
Pune, i – April 27, 2018 /MarketersMedia/ —
Industrial 3D Printing Market is forecast to reach $5.66 billion by 2023 from $1.73 billion in 2018 at a CAGR of 27.21% during (2018-2023) driven by the evolution of 3D printing from developing prototypes to end-use parts production, ease of developing customized products, developments in existing industrial 3D printing materials market, government investments in 3D printing projects, and improvement in manufacturing efficiency.
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Major players in the global industrial 3D printing market include 3D Systems Corporation (US), Stratasys Ltd. (US), EOS GmbH (Germany), Materialise NV (Belgium), The ExOne Company (US), Voxeljet AG (Germany), EnvisionTEC GmbH (Germany), Arcam AB (Sweden), Concept Laser GmbH (Germany), Optomec Inc. (US), SLM Solutions Group AG (Germany), GROUPE GORGÉ (France), Renishaw plc (UK), Koninklijke DSM N.V. (Netherlands), Höganäs AB (Sweden), ARC Group Worldwide, Inc. (US), Markforged, Inc. (US), Cookson Precious Metals Ltd. (UK), and Sculpteo (France).
Target Audience of the Report:
• Industrial 3D printer and printer solution providers
• Industrial 3D printing service providers
• Industrial 3D printing materials and accessories providers
• Industrial 3D printing consulting companies
• Industrial 3D printing assembly companies
• 3D printing software providers
• Associations, organizations, forums, and alliances related to industrial 3D printing
• Government and corporate offices
• Venture capitalists, private equity firms, and start-up companies
• Distributors and traders
The industrial 3D printing market in APAC is expected to witness the highest CAGR during the forecast period. APAC is the fastest-growing market for automotive and printed electronics industries, and offers new market opportunities for industrial 3D printing. Tooling and robotics are the major applications driving the market for industrial 3D printing in APAC. Japan and China are the major contributors to this market.
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The industrial 3D printing market growth is driven by the reduction in the manufacturing cost and process downtime, decrease in lead time due to lesser manufacturing steps, and ability to produce multiple individual parts which support customized tools and machinery parts production. Additionally, evolving industrial-grade materials help expand the application area of industrial 3D printing methods into niche sectors, such as printed electronics, and energy and power sector. Strong demand from aerospace and defense, automotive, and healthcare industries; growth of industrial 3D printing service sector; and government investments in 3D printing projects are also driving the growth of the industrial 3D printing market.
The Industrial 3D Printing Market for printed electronics industry is expected to witness a high CAGR during the forecast period. Industrial 3D printing holds great potential in the printed electronics industry as it provides the opportunity to engineers to develop objects with complex internal structures, which otherwise would be difficult to produce using traditional methods. The growing adoption of industrial robotics in the printed electronics industry is driving the industrial 3D printing market for the robotics application as it is used to develop robot arms, grippers, and body parts. Common electronic materials including conductor, dielectric, resistor, and semiconductor inks can be processed to print sensors, antennae, shielding transistors, solar cells, light-emitting diodes, and other active and passive components.
The industrial 3D printing market for materials expected to grow at highest CAGR during forecast period. However, limited availability and high cost of materials, difficulties associated with the use of 3D printing software, and lack of standard process control are the key restraining factors for the market growth.
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This research report categorizes the global industrial 3D printing market on the basis of offering, application, process, technology, industry, and geography. The report describes market dynamics that include key drivers, restraints, challenges, and opportunities for the growth of the industrial 3D printing market and forecasts the same till 2023.
The break-up of primary participants for the report has been shown below:
• By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
• By Designation: C-level Executives – 35%, Directors – 45%, and Others – 20%
• By Region: Americas – 45%, Europe – 30%, Asia-Pacific – 20%, and RoW – 5%
In the process of determining and verifying the industrial 3D printing market size for several segments and sub segments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in the industrial 3D printing market space.
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Release ID: 337921
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