Growth in use of 3D printing in the automotive industry owing to its ability to provide customized products drives the demand for 3D printing market
The market size for global 3D printing is expected to reach at USD 31 billion by 2025. 3D printing enables customer flexibility to personalize the product design as per their requisites. In a standard mass manufacturing, the products have no margin for customization since the size and shape of the molds are same. Moreover, developments in the 3D printing technology, materials, and tools, have led to reduce the costs and thus making general manufacturing selections more feasible.
The technology assists manufacturers in the field of designing, modelling, prototyping structures of the end products. Due to its higher level of performance and precision, organizations are shifting towards 3D printing technology at a considerable rate to enhance their efficiency and accuracy in their operations. In the healthcare industry, the use of 3D printing technology is increasing to manufacture personalized prosthetics and intricate bio-printed medical devices.
Based on the technology segment, the market is bifurcated into fuse deposition modelling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), electron beam melting (EBM), polyjet printing, inkjet printing, digital light printing (DLP), and others. In 2019, the direct metal laser sintering (DMLS) segment gathered the largest market revenue and it is anticipated to govern the 3D printing market throughout the forecast period. DMLS is used to produce intricate structures in industries such as automotive and aerospace for tolling & machinery parts. Cost-effective production, detailed resolution, as well as easy and quick handling are the key factors responsible for the DMLS technology growth.
The global 3D printing market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global 3D printing market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the 3D printing storage, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the 3D printing market in North America.
The major players of the global 3D printing market are Materialise, Stratsys, EnvisionTec, GE Additive, 3D Systems, Made In Space, Autodesk, Canon Inc., ExOne, and Voxeljet AG. The 3D printing market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global 3D Printing Market
Technology Overview, 2018-2025 (USD Billion)
- Fuse Deposition Modelling (FDM)
- Selective Laser Sintering (SLS)
- Direct Metal Laser Sintering (DMLS)
- Electron Beam Melting (EBM)
- Polyjet Printing
- Inkjet Printing
- Digital Light Printing (DLP)
Application Overview, 2018-2025 (USD Billion)
- Aerospace & Defense
- Consumer Electronics
- Power & Energy
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America