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Market Research Report
Industrial 3D Printing Market by Offering (Printers, Materials, Services, Software), Application (Tooling, Heavy Equipment & Machinery, Robotics), Process, Technology, Industry (Aerospace & Defense, Automotive), and Geography - Global Forecast to 2023 |
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| Published by | MarketsandMarkets | Product code | 357922 | ||||
| Published | Content info | 233 Pages Delivery time: 1-2 business days |
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| Industrial 3D Printing Market by Offering (Printers, Materials, Services, Software), Application (Tooling, Heavy Equipment & Machinery, Robotics), Process, Technology, Industry (Aerospace & Defense, Automotive), and Geography - Global Forecast to 2023 | ||
| Published: March 21, 2018 | Content info: 233 Pages |
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The industrial 3D printing market is expected to grow at a CAGR of 27.21% between 2018 and 2023, to grow from USD 1.73 billion in 2018 to reach USD 5.66 billion by 2023. The reduction in the manufacturing cost and process downtime, decrease in lead time due to lesser manufacturing steps, and ability to produce multiple individual parts which support customized tools and machinery parts production are the major factors driving the industrial 3D printing market. Additionally, evolving industrial-grade materials help expand the application area of industrial 3D printing methods into niche sectors, such as printed electronics, and energy and power sector. Strong demand from aerospace and defense, automotive, and healthcare industries; growth of industrial 3D printing service sector; and government investments in 3D printing projects are also driving the growth of the industrial 3D printing market. However, limited availability and high cost of materials, difficulties associated with the use of 3D printing software, and lack of standard process control are the key restraining factors for the market growth.
Industrial 3D printing holds great potential in the printed electronics industry as it provides the opportunity to engineers to develop objects with complex internal structures, which otherwise would be difficult to produce using traditional methods. The growing adoption of industrial robotics in the printed electronics industry is driving the industrial 3D printing market for the robotics application as it is used to develop robot arms, grippers, and body parts. Common electronic materials including conductor, dielectric, resistor, and semiconductor inks can be processed to print sensors, antennae, shielding transistors, solar cells, light-emitting diodes, and other active and passive components.
APAC is the fastest-growing market for automotive and printed electronics industries, and offers new market opportunities for industrial 3D printing. Tooling and robotics are the major applications driving the market for industrial 3D printing in APAC. Japan and China are the major contributors to this market.
In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with key industry experts in the industrial 3D printing marketspace. The break-up of primary participants for the report has been shown below:
The report profiles the key players in the 3D printing market with their respective market rank analysis. The prominent players profiled in this report are: 3D Systems Corporation (US), Stratasys Ltd. (US), EOS GmbH (Germany), Materialise NV (Belgium), The ExOne Company (US), Voxeljet AG (Germany), EnvisionTEC GmbH (Germany), Arcam AB (Sweden), Concept Laser GmbH (Germany), Optomec Inc. (US), SLM Solutions Group AG (Germany), GROUPE GORGE (France), Renishaw plc (UK), Koninklijke DSM N.V. (Netherlands), Hoganas AB (Sweden), ARC Group Worldwide, Inc. (US), Markforged, Inc. (US), Cookson Precious Metals Ltd. (UK), and Sculpteo (France).
This research report categorizes the global industrial 3D printing market on the basis of offering, application, process, technology, industry, and geography. The report describes market dynamics that include key drivers, restraints, challenges, and opportunities for the growth of the industrial 3D printing market and forecasts the same till 2023.
The report would help leaders/new entrants in this market in the following ways:
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
