|12-17-2018 03:56 AM CET - Business, Economy, Finances, Banking & Insurance||
3D Printing Market Projected to Reach $44,393.1 Million by 2025 | Top Key Players are The ExOne Company, Hoganas AB, Arcam AB, Autodesk, Stratasys, Optomec, Organovo Holdings, Ponoko Limited
Press release from: Allied Market Research
Allied Market Research’s report on “3D Printing Market by Technology, Component and End-User: Global Opportunity Analysis and Industry Forecast, 2019 - 2025,” states that the 3D printing is likely to garner $44,393.1 million by 2025 from $4,164.2 million in 2014, thereby attaining a CAGR of 21.8% from 2019 to 2025.
Increased adoption of 3D printing in the automotive sector, and the ability of the technology to provide customized products and efficient logistics management are trends that aid in the expansion of the market. Nonetheless, high cost of 3D printing and lack of skilled labor are factors that impede the industry growth. On the other hand, rise in 3D printing applications in healthcare and other sectors is expected to offer prolific opportunities for the players operating in the industry.
At present, North America dominates the market, followed by Europe. In 2017, the U.S. dominated the North America market and Germany led the overall market in Europe. While, in Asia-Pacific, Japan dominates the current market.
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Key Findings for the 3D Printing Market:
•Based on technology, the FDM segment led the global 3D printing market in 2017. However, the EBM segment is anticipated to grow at the highest CAGR during the forecast period (2019-2025).
•North America held a major market share in 2017.
•By end user, the aerospace & defense segment dominated the global 3D printing market in 2017.
•LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
Among technologies, fused deposition modelling (FDM) segment accounted for about half of the total market share in 2017 and is expected to retain its lead through the study period. This is due to its use in a wide range of applications such as automobiles, aerospace, jewelry & art, architecture, packaging, biomedical, consumer, electrical & electronic products, and others. Moreover, it is widely adopted due to its lower cost as compared to other technologies. The electron beam melting (EBM) segment would grow at the fastest CAGR of 30.5% from 2019 to 2025. The report analyzes selective laser sintering (SLS), stereolithography (SLA), digital light processing (DLP), among others.
Hardware segment captured 58% share of the total market revenue in 2017 and is projected to maintain its lead through the forecast period. However, the services segment would register the fastest CAGR of 24.9% from 2019 to 2025 because numerous companies have been offering 3D printing services to customers who do not wish invest in the technology or hardware for manufacturing 3D models. The software segment would grow at a steady pace during the study period.
Among end users, the aerospace & defense segment accounted for about 27% of the total market share in 2017 and is expected to maintain its dominance through 2025. This is due to the large number of applications of 3D printing in this industry, especially prototyping and manufacturing complex geometrical parts that are not possible using traditional methods. However, the healthcare segment would exhibit the fastest CAGR of 26.6% from 2019 to 2025 due to the ability of 3D printing to print customized tailored prosthetics according to the requirements. The report also analyzes industrial, automotive, consumer electronics, among others.
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North America contributed 40% of the total market share in 2017 and is expected to retain its dominance throughout the forecast period. On the other hand, Latin America, Middle East, and Africa (LAMEA) is expected to register the fastest CAGR of 28.20% from 2019 to 2025. The other regions discussed in the report are Europe and Asia-Pacific.
•The ExOne Company
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Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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