3D Printing Market worth US$32.5 Bn by 2025; Rapid Expansion of 3D Printing Technology to Impel Market Growth

According to Transparency Market Research, the global 3D printing market is projected to reach US$32.5 bn by the end of 2025 progressing from US$7.3 bn earned in 2016. During the forecast period between 2017 and 2025, the market is projected to expand at staggering CAGR of 18%.

The global 3D printing market is highly fragmented due to the presence of various large and small players operating in the global market. In 2016, EOS GmbH, Solidscape, Inc., and Stratasys, Ltd. held maximum share in the market. Leading players in the market are focusing on launching new products and upgrading their process to keep up the market growth. They are also using different business development strategies and are investing in research and development activities to increase their geographical reach and to stay ahead among the competitors. Concept Laser GmbH, ExOne GmbH, SLM Solutions GmbH, Voxeljet Technology GmbH, Optomec, and Arcam AB are some of the prominent players operating in the global 3D printing market.

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In terms of technology, polyjet is leading the market by holding 41% share in the global market. However, the FDM segment is holds maximum number of share in terms of volume. Dominance of FDM is because of high preference for commercial and personal use of FDM printers. Application of FDM is also high in various industries such as consumer goods and automotive. Based on region, North America leads the market on the accounts of using 3D printing technology at large.

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Increasing Use in Various Application to Fuel Demand for Welding Products

Introduction of 3D printing has simplified customizing products and reduced the cost of manufacturing. Rising government investments, rapid expansion of 3D printing technology, and increasing understanding of the people of the advantages of this technology has boosted the demand in this market. Employment of 3D printers helps sin handling issues such as licensing, copyrights, and patenting. Moreover, it helps the manufacturers in designing, prototyping, and modeling structures and products. Reducing time and cost has largely grown the efficiency of the manufacturers based on which they can offer products as a reasonable rate. Spurred by these factors, the global 3D printing market will display a strong growth in the near future.

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Lack of Technical Knowledge to Restrict Market Growth

Lack of standard process control and expensive and limited availability of materials are the key factors affecting the growth of the 3D printing market. Dearth of technical knowledge and misconception related to the process of prototyping among medium and small players may restrict people from adopting this technology, thus hampering market’s growth. However, efforts made by manufacturers to expand their geographical reach by entering untapped market are likely to provide a fillip to the market. Improvements in supply chain management and rising applicability in different sectors such as automotive, education, jewelry, and printed electronics is expected to drive the demand in this market.

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The information presented in this review is based on a TMR report, titled “3D Printing Market (Use - Commercial and Personal; Technology - PolyJet, Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), and Stereolithography (SLA); By Application - Consumer Products and Electronics, Automotive, Medical, Industrial, Aerospace, Military & Defense, Architecture, and Education) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025.”

Global 3D Printing Market has been segmented as presented below:

Global 3D Printing Market, by Use

Commercial
Personal
Global 3D Printing Market, by Technology

PolyJet
Fused Deposition Modeling (FDM)
Selective Laser Sintering (SLS)
Stereolithography (SLA)
Others
Global 3D Printing Market, by Application

Consumer products and electronics
Automotive
Medical
Industrial or business machines
Aerospace
Military & Defense
Architecture
Education
Others
Global 3D Printing Market: Geography

North America
U.S.
Canada
Europe
U.K.
Italy
Spain
France
Germany
Rest Of Europe
Asia Pacific (APAC)
China
India
ASEAN
Rest Of Asia Pacific
Japan
Korea
Taiwan
Thailand
Malaysia
Australia
Rest of APAC
Latin America
Brazil
Mexico
Rest of South America
Middle East & Africa (MEA)
GCC
South Africa
Rest of MEA

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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This release was published on openPR.