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Selective Laser Sintering Market Size, Share, Industry Growth And Forecast 2024-2033
Selective Laser Sintering Market Size
As per the report, the selective laser sintering market size has grown exponentially in recent years. It will grow from $2.37 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 22.5%. The selective laser sintering market size is expected to see exponential growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 20.7%.
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Consumer Electronics Surge Fuels Selective Laser Sintering Market Expansion
The rising demand for consumer electronics is expected to propel the growth of the selective laser sintering market going forward. Consumer electronics are electronic devices such as smartphones, tablets, laptops, TVs, gaming consoles, and wearable devices that are bought for personal rather than commercial use. Selective laser sintering is used in the manufacturing process of consumer electronics products, including smartphones, laptops, and wearables. As a result, the rising demand for consumer electronics increases the demand for the selective laser sintering market. For instance, in May 2022, according to Canalys, a Singapore-based global technology firm, smartphone shipments in North America totalled 39.0 million units, reflecting a 3.7% year-on-year increase. Furthermore, in Q1 2022, Apple experienced 19% growth, securing a dominant market share of 51%. Samsung, with a 1% growth, held a 27% share of the market, while TCL and Google accounted for 4% and 3% of the market share, respectively. Therefore, rising demand for consumer electronics drives the selective laser sintering market.
3D Printing Technologies Transforming The Selective Laser Sintering Market
3D printing technologies are a key trend gaining popularity in the selective laser sintering market. Companies operating in the selective laser sintering market are launching 3D printers with advanced technology to sustain their position in the market. For instance, in November 2022, Wipro 3D an India-based 3D printing of functional components and technology manufacturer launched Wipro 3D F300-2 printer which operates on Fused Filament Fabrication (FFF) technology. This printer enables high-quality 3D printing and advanced technological features such as a magnetic print bed, automatic platform levelling, dual filtration, and a self-cleaning nozzle. This printer has IOT enabled dual nozzle that allows control and monitoring of capabilities over the internet through smartphones, tablets, and computers.
The selective laser sintering market covered in this report is segmented -
1) By Component: Hardware, Software, Services
2) By Laser Type: Solid Laser, Gas Laser
3) By Material: Metal, Plastic
4) By Application: Automotive, Aerospace and Defense, Healthcare, Electronics, Other Applications
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Major companies operating in the selective laser sintering market report are 3D Systems Inc., EOS GmbH Electro Optical Systems, Sinterit sp. z o.o, Farsoon Technologies, Sintratec AG, Renishaw plc, Ricoh Company Ltd., Formlabs Inc., Prodways Group SA, Sharebot S.R.L., Z Rapid Tech, Nexa3d Inc., General Electric Company, Stratasys Ltd., Materialize NV, SLM Solutions Group AG, Concept Laser GmbH, Beijing Long Yuan Automated Fabrication System Co. Ltd., Wuhan Binhu Mechanical & Electrical Co. Ltd., XYZprinting Inc., Ultimaker BV, Sisma S.p.A., Trumpf GmbH + Co. KG, HP Inc., Shining 3D, voxeljet AG, UnionTech, Carbon Inc., Nanoscribe GmbH, Xact Metal Inc.
Contents of the report:
1. Executive Summary
2. Selective Laser Sintering Market Report Structure
3. Selective Laser Sintering Market Trends And Strategies
4. Selective Laser Sintering Market - Macro Economic Scenario
5. Selective Laser Sintering Market Size And Growth
…..
27. Selective Laser Sintering Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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