San Francisco,4 October 2018: The global 3D printing (3DP) market is estimated to
reach USD 23.79 billion by 2025, according to the new report conducted by Grand
View Research, Inc. This technology is also called Additive Manufacturing (AM),
is referred to as a procedure that produces parts through the successive
addition of layers of materials in various 2D shapes. The layered 2D shapes are
built upon one another to form a three-dimensional object. The process is
different from the subtractive method of production where one begins with a
block of material and grinds out unnecessary materials to obtain the desired
final shape of the object.
The
industry is well-established in the industrial sector owing to enhanced product
manufacturing and time required for a product to reach the market. This
technology is widely adopted in the industrial vertical, which is expected to
lead to the largest market share of 3D printers in industrial applications.
Additive manufacturing, which is the industrial version of three-dimensional
printing, is anticipated to reach maturity over the forecast period.
However,
desktop 3D printing is likely to hold a promising future owing to the growing
popularity of the technology among hobbyists, innovators, and the education
sector for technical training and domestic/personal uses. The technology is
expected to be highly touted for its economic advantages rather than being
perceived as a labor-intensive industrial manufacturing technique. Local shops
that install 3D printers and offer 3D printing materials, filaments, 3D
modeling, and 3D printer software have become an alternative business model,
especially in developing economies such as Brazil, South Africa, and India.
The
market is fragmented into three major application areas, namely prototyping,
tooling, and functional part manufacturing. Apart from the industrial vertical,
the automotive, healthcare, and aerospace & defense verticals are the
strong adopters of the technology. Manufacturers in these verticals emphasize
on the accuracy of operations, enhancement in product designing, and
reliability offered by the parts, coupled with the time required for the
product to arrive the market and expenditures involved in the production.
Benefits offered by the technology are expected to lead to increased
applications in these industry verticals in future as well. Moreover, factors
such as intensive R&D along with heavy investments carried out by the
public and private sectors are expected to result in numerous advancements in
3D printers and related technologies, owing to active government funding and
initiatives carried out by developed economies.
North
America held majority of the market share in 2016, accounting for more than
35.0%. The large market share is attributed to the extensive adoption of 3D
printers for 3D designing, 3D modeling, and 3D manufacturing of objects in
several sectors. The Asia Pacific region has significantly emerged as a large
manufacturing hub on account of the presence of a huge consumer base and
surplus foreign investments in the region, thereby portraying a remarkable
growth over the estimated duration.
3D
printing is a capital-intensive technology and bears a few disadvantages, such
as misconceptions among manufacturers about prototyping. Furthermore, the
market currently lacks standard process controls and skilled workforce. These
factors currently hamper the market growth; however, they are anticipated to be
overcome over time owing to increasing government initiatives and growing
awareness among individuals regarding the benefits of 3D printers.
Access Research Report of 3D Printing (3DP) Market@ www.grandviewresearch.com/industry-analysis/3d-printing-industry-analysis
Further key findings from the report suggest:
· 3D
printing is gaining interest among individuals owing to benefits such as
accurate and rapid prototyping along with the optimized time-to-market factors.
· The
increasing application of 3D printers in automotive, healthcare, and aerospace
& defense verticals are also expected to significantly drive market growth
over the forecast period.
· Desktop
printers are expected to gain noticeable attention over the forecast period on
account of increasing popularity among researchers, hobbyists, small
enterprises, personal users in domestic applications, and in the educational
sector for training purposes.
· The
prototyping application segment dominated the market in 2016 and is projected
to continue dominating in future as well, accounting for a considerable market
share by 2025.
· The
others vertical segment, which includes imitation & jewelry, clothing,
construction & engineering, architecture, toys, footwear, and so on, is
expected to witness an extensive adoption of 3D printers for manufacturing
goods & structures over the forecast period.
· The
Asia Pacific market is predicted to showcase a significant rise on account of
increasing applications in the automotive, consumer electronics,
infrastructure, urbanization, military & defense, and healthcare sectors,
among others, especially in countries such as China, Japan, South Korea,
Taiwan, and India.
· Prominent
players in the industry include Stratasys Ltd., 3D Systems, Inc., 3D Ceram, GE
Additive, HP Inc., Tiertime, Dassault Systemes, Made In Space, and Voxeljet AG.
Browse more
reports of this category by Grand View Research at: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the 3D
printing market based on printer type, technology, software, application,
vertical, and region:
3D Printing Printer Type
Outlook (Revenue, USD Million; 2014 - 2025)
·
Desktop
3D Printer
·
Industrial
Printer
3D Printing Technology
Outlook (Revenue, USD Million; 2014 - 2025)
·
Stereolithography
·
Fuse
Deposition Modeling
·
Selective
Laser Sintering
·
Direct
Metal Laser Sintering
·
Polyjet
Printing
·
Inkjet
Printing
·
Electron
Beam Melting
·
Laser
Metal Deposition
·
Digital
Light Processing
·
Laminated
Object Manufacturing
3D Printing Software Outlook (Revenue,
USD Million; 2014 - 2025)
·
Design
Software
·
Inspection
Software
·
Printer
Software
·
Scanning
Software
3D Printing Application
Outlook (Revenue, USD Million; 2014 - 2025)
·
Prototyping
·
Tooling
·
Functional
Parts
3D Printing Vertical Outlook (Revenue,
USD Million; 2014 - 2025)
·
Automotive
·
Aerospace
& Defense
·
Healthcare
·
Consumer
Electronics
·
Industrial
·
Power
& Energy
·
Others
3D Printing Regional Outlook (Revenue,
USD Million; 2014 - 2025)
·
North
America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o UK
o Rest of Europe
·
Asia
Pacific
o China
o Japan
o South Korea
·
South
America
o Brazil
·
The Middle East &
Africa
Access Press Release of 3D Printing (3DP)
Market@ www.grandviewresearch.com/press-release/global-3d-printing-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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