Global 3D Printing Market Size estimated to Reach $27 bn in 2026

The 3D printing market is expanding at a significant rate 0f 12.6% during the forecast period (2020-2026). According to the market research, the growing number of investments by governments and the continuous technological advancement in 3D printing technology are the two major factors that are responsible for the growth of the market in the coming years.

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The reduction in the cost of manufacturing and process downtime and continuous development of customized products are the major drivers that are propelling the growth of the 3D printing market size during the forecast period. The significant shift in the 3D printing market trends from prototyping to functional part manufacturing in numerous industry verticals, including automotive, medical, aerospace, and consumer goods, is further supporting the market growth. Moreover, the rising number of R&D activities related to 3D printing is opening new doors for the growth of the 3D printing market share in terms of revenue.

As per the 3D printing market analysis, 3D printing technology has allowed the manufacturers to deliver customized products according to the consumer’s requirements with better accuracy and well-defined smoothness. In addition to this, the increasing usage of this technology for product designing will positively influence market growth. The 3D printing healthcare market has witnessed an upsurge in demand due to the outbreak of the COVID-19. The manufacturers are now producing medical products with 3D printing to capture the changing demand of the end-users. On the other hand, the prevailing misconception with respect to the prototyping processes especially held by the small and medium-scale manufacturers will hamper the growth of the 3D printing market.

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