3D Printer Market Strategic Imperatives for Success and Rising Demand | Allied Market Research

3D printing involves the successive addition of layers of material, 3D printing is also known as Additive Manufacturing (AM). 3D printer technology has been greatly adopted by the industrial verticals and is one of the leading contributors to its increased 3D printer market share. The increased adoption of 3D printers in the manufacturing, aerospace, and healthcare industries is expected to drive market growth. Leading companies in 3D printer manufacturing are entering into collaborations with other companies and are also coming up with new solutions to expand their business.

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An increase in the adoption of 3D printing parts is one of the key driving factors of this market. Difficult tasks, such as manufacturing and shipping of complex spare parts, have been a great challenge for manufacturing and also increase the production cost. Product designers and engineers use 3D industrial printing technology to produce cheaper faster and effective complex designs. Companies in aerospace and defense, healthcare, and consumer electronics are looking for innovative ways to automate their manufacturing process and have started adopting this technology.

3D printing technology has been adopted by medical professionals to create tissues, prosthetics, and medical implants. End-user verticals depending on the advanced technology for their fast, cost- effective, smooth manufacturing processes will be leading the 3D printer market.

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However, the initial investment for 3D printed solutions is very high, and this is also one of the greatest disadvantages to the growth of 3D printer market. Although technology provides many solutions and benefits over conventional manufacturing processes, there are still some limitations even for the technology to overcome.

Furthermore, there are only limited options to use the material for printing, such as metals and plastic, as not all metals can be easily temperature controlled. Manufacturing of these complex designs requires hardware, software, and materials, which increase the manufacturing cost of the product.

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Due to high demand from customers, automotive companies' Original Equipment Manufacturers (OEM) are required to respond to emerging developments in automobiles and electric cars. As a result, to remain competitive in the age of Industry 4.0, automotive manufacturers are implementing 3D printing technology and are more focused on 3D printer market.

As the industry is shifting from internal combustion engines to electric cars, 3D printing technology can increase its production process. Electric vehicle manufacturers use this technology to produce lightweight automotive parts such as batteries, engines, and other components.

Furthermore, to build a sustainable and successful additive manufacturing ecosystem, governments and private firms are investing in this technology. For instance, in October 2019, one of the key players of 3D printers Structo Pte Ltd. received an undisclosed amount of funding from a Singapore- based investor.

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Major Benefits of the Research on 3D Printer Market

• This study presents the analytical depiction of the 3D printer market along with the current trends and future estimations to determine the imminent investment pockets.

• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the 3D printer market share.

• The current market is quantitatively analyzed from 2020 to 2030 to highlight the 3D printer market growth scenario.

• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed 3D printer market analysis based on competitive intensity and how the competition will take shape in the coming years.

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