BANGALORE, India | 22nd September 2020: According to the Latest Market Research Report “Industrial 3D Printing Market by Type (Printers Materials (Plastics, Metals, Ceramics, and Other Materials), Software (Printing, Design, Inspection, and Scanning), Services) by Application (Automotive, Aerospace & Defense, Healthcare, Printed Electronics, Foundry & Forging, Food & Culinary, Jewelry, Other Industries) and Region – Global Forecast to 2026“, published on Valuates Reports.
The Global Industrial 3D Printing market size is expected to grow from USD 1421.2 Million in 2019 to USD 5781.9 Million by 2026 at a CAGR of 22.0% during the forecast period 2021-2026.
Major factors driving the growth of Industrial 3D printing Market size include aggressive Three-Dimensional Printing (3DP) R&D and the demand for prototyping applications from different vertical industries, especially healthcare, automotive, and aerospace and defense.
The report aims to provide comprehensive information on the major factors influencing the market growth (drivers, constraints, opportunities, and challenges). It analyses micro-markets strategically concerning the individual patterns of growth, opportunities, and contributions to the total market.
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TRENDS INFLUENCING THE INDUSTRIAL 3D PRINTING MARKET SIZE
The growing demand for customized products is in tune fueling the Industrial 3D Printing Market size growth. 3D printing allows customized items to be produced according to individual preferences and specifications. Continuous technological improvements in established 3D printing technology reduced printing costs, and the availability of various materials makes easy manufacturing of custom-made items.
The increasing adoption by the healthcare industry is a major factor driving the Industrial 3D printing market size growth. In the healthcare sector, the industrial 3D printing process caters to the demand for customized medical devices, prostheses, and implants.
3D printing has advantages for manufacturers in prototyping, structural design of structures and end goods, simulation, and shortened market time. As a result, manufacturing costs have decreased substantially, allowing producers to sell quality goods at fair prices. This price reduction factor is expected to increase the growth of the industrial 3D printing market size.
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INDUSTRIAL 3D PRINTING MARKET SHARE ANALYSIS
Based on Software, Design software is expected to hold the largest market share. Design software is used to create the object’s designs to be printed, particularly in vertical construction, in the automotive, aerospace, and defense industries.
North America is expected to hold the largest Industrial 3D Printing Market share based on the region during the forecast period. This dominance of the North American region is attributed to the increased use of Industrial 3D Printing technology by aerospace and defense, industrial engineering, and healthcare firms. Continuous technical upgradation and government financial support are also helping North American market growth.
Increased government initiatives, an extensive manufacturing base, and high support for research and development are the European industry’s main growth drivers.
Asia Pacific is expected to witness the highest growth during the forecast period. This rapid growth is due to the rapid adoption of additive manufacturing. The region also represents an evolving development center for the automotive and healthcare industries.
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INDUSTRIAL 3D PRINTING MARKET SEGMENTATION
MARKET SEGMENT BY TYPE, THE PRODUCT CAN BE SPLIT INTO
- Printers
- Materials (Plastics, Metals, Ceramics, and Other Materials)
- Software (Printing, Design, Inspection, and Scanning)
- Services
MARKET SEGMENT BY APPLICATION, SPLIT INTO
- Automotive
- Aerospace & Defense
- Healthcare
- Printed Electronics
- Foundry & Forging
- Food & Culinary
- Jewelry
- Other Industries
THE KEY PLAYERS COVERED IN THIS STUDY
- Stratasys
- 3D Systems
- Materialise
- EOS
- The Exone Company
- Voxeljet
- Arcam
- SLM Solutions Group
- Envisiontec
- Optomec
- Concept Laser
- Groupe Gorge
- Renishaw
- ARC Group Worldwide
- Hoganas
- Koninklijke DSM
- Cookson Precious Metals
- Markforged
- Scuplteo
- Others.
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SIMILAR REPORTS :
● 3D Printing (Additive Manufacturing) Market
In 2019, the global 3D Printing Market size was USD 6422.5 Million, and it is expected to reach USD 44520 Million by the end of 2026, with a CAGR of 31.4% during 2021-2026.
In the medical industry, additive manufacturing is used to manufacture end products such as surgical instruments, prosthetics & implants, and scaffolds. The demand for additive manufacturing is growing due to the rising occurrence of surgical procedures, combined with developments in technology.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2Y244/3d-printing
● Automotive 3D Printing Market
In 2019, the global Automotive 3D Printing market size was US$ 1882.4 million, and it is expected to reach US$ 8349.5 million by the end of 2026, with a CAGR of 23.5% during 2021-2026.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3H206/automotive-3d-printing
● 3D Food Printing Market
In 2019, the global 3D Food Printing market size was USD 17 Million, and it is expected to reach USD 112.6 Million by the end of 2026, with a CAGR of 31.0% during 2021-2026.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-2B245/3d-food-printing
● 3D Printing Services Market
In 2019, the global 3D Printing Services market size was USD 4068 Million, and it is expected to reach USD 17170 Million by the end of 2026, with a CAGR of 22.7% during 2021-2026.
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-1E245/3d-printing-services
● Industrial 3D Printing Devices Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-14V1070/global-industrial-3d-printing-devices
● Additive Manufacturing Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-0P210/additive-manufacturing
● 3D Printing Materials Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Othe-3A207/3d-printing-materials
● Inkjet Printing Inks Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-34F1139/global-inkjet-printing-inks
● Selective Laser Sintering Market
View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-26G1005/global-selective-laser-sintering
