A recent report published by
Infinium Global Research on industrial 3D printing market provides in-depth
analysis of segments and sub-segments in the global as well as regional
industrial 3D printing market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional industrial 3D
printing market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecasts, and dollar values of global
industrial 3D printing market. According to the report, the global industrial 3D
printing market is projected to grow at a CAGR of 20.4% over the forecast
period of 2020-2026.
The evolution of 3D printing
technology has seen rapid development as numerous companies adopting this
technology. The applications and use cases vary across industries, but broadly
include tooling aids, visual and functional prototypes and even end parts.
Companies are beginning to find ways to create new business models and
opportunities as increasing the potential applications for 3D printing.
Additive manufacturing or 3D printing has the potential to democratize the
production of goods, from food to medical supplies, to great coral reefs. 3D
printing machines could make their way into businesses, homes, disaster sites,
and even outer space in the future. the use of rising technologies such as
artificial intelligence (AI) and Internet of Things (IoT) networked sensors is
benefitting that monitor 3D printing processes closely to help augment speed
and reliability.
Companies across industries, from
automotive to consumer goods are becoming aware of the advantages 3D printing
offers for production. According to the 2019 State of 3D Printing report by
Sculpteo’s, 51% of companies are vigorously using 3D printing for production.
Furthermore, 3D printing is already playing a huge role in the dental industry,
producing crowns, surgical guides, and the majority of dental aligner molds. 3D
printing technology has the potential to become the foremost technology in this
sector. There are rising numbers of use-cases and self-evident business
benefits showing that additives can be used as an ordinary manufacturing
technology. Several industries such as healthcare, automotive and aerospace,
and defense have been experiencing impactful fabrication and business
transformations within key areas of their business given the maturation of 3D
printing technologies and material supply-chains. For instance, with additive
manufacturing permit designers, interior aircraft parts like ducting, vents,
and airflow systems are created. It helps to trim weight, conform to tight
cabin interiors, and decrease the number of components in assemblies.
Additionally, it offers design freedom to experiment with more efficient and
effective part shapes, with fewer potential points of failure. These provide
manufacturers more elasticity in creating their products all while observance
of pace with contracting production cycles. However, the lack of
standardization in 3D printing is restraining market growth. The current
concern over the spread of coronavirus is expected to have a negative impact on
the industrial 3D printing market. The unending COVID-19 epidemic has horribly
affected the electronics and semiconductor industry with manufacturing
operations conditionally suspended across major manufacturing hubs. It is
leading to a generous slowdown in production. Several key players have deferred
their manufacturing operations in countries such as China, India, South Korea,
and Europe.
Among the geographies, the North
America region is expected to hold the largest share in the global industrial 3D
printing market owing to technological development in the region. Further,
factors such as the increasing number of construction of buildings coupled with
the adoption of superior technology and rising research and development
activities have fueled the growth of the industrial 3D printing market in the
North American region. Furthermore, the Asia Pacific region is expected to
witness high growth during the forecast period owing to the increasing usage of
3D printing in China and India. High population, rapid industrialization, and
urbanization followed by growth in concern for environmental pollution and
human health is anticipated to boost the market demand for industrial 3D
printing in the Asia Pacific region.
The report on global industrial 3D
printing market covers segments such as offering, technology, and application
industry. On the basis of offering, the sub-markets include printers,
materials, software, and services. On the basis of technology, the sub-markets
include stereo lithography, fuse deposition modeling, selective laser
sintering, direct metal laser sintering, polyJet printing, inkjet printing,
electron beam melting, and others. On the basis of application industry, the
sub-markets include automotive, aerospace & defense, healthcare, consumer
electronics, power & energy, and others.
The report provides profiles of
the companies in the market such as SLM Solutions NA, Inc., Stratasys Ltd,
Autodesk Inc., Materialise NV, Arcam AB, New Valence Robotics Corporation, 3D
Systems, Inc., Eos GmbH, and Envisiontec, Inc.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of industrial 3D printing market. Moreover, the study highlights
current market trends and provides forecast from 2020-2026. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
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