Industrial 3D Printing Market Owing To The Increased Focus On High-Volume Production Using 3D Printing

According to Precision Business Insights' (PBI), latest report, industrial 3d printing market size was valued at USD 16.7 billion in 2022, growing at a 12.3% CAGR during the forecast 2023 to 2029. The primary factors that drive the market are the growing 3D modelling technology, rising construction of a complex structure, and increasing demand for industrial 3D printing.

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The industrial 3d printing market is segmented based on offering, technology, end-user, and geography.
Based on the Offering, the market is segmented into the following:
• Printer
• Service
• Software
• Material

Based on the Technology, the market is segmented into the following:
• Stereolithography (SLA)
• Fused Deposition Modelling (FDM)
• Selective Laser Sintering (SLS)
• Direct Laser Sintering (SLS)
• Others

Based on the end user, the market is segmented into the following:
• Industrial
• Automotive
• Healthcare
• Architecture & Construction
• Others

Based on the region, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Fused Deposition Modelling (FDM) to Dominate the Industrial 3D Printing Market
Based on technology type, Fused Deposition Modelling (FDM) holds the highest market share. The major factor for the rise of this segment is due to FDM models reducing costs and shortening development timelines, the creation of functional prototypes for testing purposes. These prototypes allow us to test in real-world environments and make decisions that have a dramatic effect on the cost to manufacture the product. These factors can drive the Industrial 3D Printing Market growth.

Asia Pacific Industrial 3D Printing Market
Asia Pacific region is expected to grow significantly in the Industrial 3D Printing Market size over the forecast period. Industrial 3D printing is a manufacturing method for the creation of a physical product from a computer-aided design (CAD) digital file. China is the biggest force behind 3D printing in Asia, it is the third largest 3D printing market across the globe which contributes maximum to the industrial 3D printing market in Asia. Japan and India are emerging markets for this technology as an increase in 3D printing awareness, and adoption of new technologies leads to significant market share in the forecast years.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players.
The Industrial 3D Printing Market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share.

Key players' profiles in the industrial 3d printing market report are Stratasys, Ltd., Materialise, EnvisionTec, Inc., LEGO, Nano3DPrint, 3D Systems, Inc., GE Additive, Autodesk Inc., Made In Space, Canon Inc., and Voxeljet AG

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This release was published on openPR.