The global 3D printing market was calculated to be USD 9.9 billion in 2018 and is anticipated to succeed in USD 34.8 billion by 2024. Currently, the trend within the 3D printing applications is shifting from prototyping to functional part manufacturing in various verticals, like automotive, medical, aerospace, and trade goods.
3D printing could be a process in which physical objects are generated by depositing materials in layers-based on a digital model. 3D printing also referred as additive manufacturing that needs hardware, software, and materials to figure together in same process.
Additive manufacturing involves a layer-by-layer addition of fabric to create an object concerning a three-dimensional file with the assistance of software and a 3-dimensional printer. A relevant 3D printing technology is chosen from the available set of technologies to implement the method. The last step involves the deployment of this process across different industry verticals supported the requirement.
Recent developments:
The ongoing coronavirus outbreak has affected the display industry with manufacturing processes temporarily suspended across major manufacturing centres, resulting in a considerable slowdown within the production. The lockdown due to global pandemic has helped 3D printing market to grow as many industries started the production of protective gears for frontline healthcare workers by 3D printing. The businesses have produced the 3D printed masks to help the health workers and common people fight the virus. The production of parts required in ventilators are also produced during lockdown. On the whole, this pandemic has helped the market to grow in medical sector.
Market growth and trends:
The key trend being observed in the global 3D printing market is the customization of purchased products. 3D printing gives customers the flexibleness to customize them consistent with their requirements. In standard production, the products coming from the moulds are the identical, because of which there's no margin for personalization. Hence, as 3D printing helps within the personalization of the purchased products, its popularity is rising.
The rising demand for quick prototyping could be a major factor driving the expansion of the 3D printing market, globally. The marketplace for prototyping was valued at $2,057.8 million in 2017, and registered a CAGR of 23.4% during the period of 2013–2017. 3D printing allows for the building of a model in an exceedingly quick and accurate way that allows manufacturers to extend the efficiency and cost-effectiveness of the manufacturing processes. Various industries, like aerospace & defence, consumer electronics, and automotive, are gradually using rapid prototyping to meet the demand of their customers. Moreover, because of the increasing number of start-ups and rising demand for personalized products, these industries are using 3D printers for prototyping and checking the viability of the products.
Market Drivers and Restraints:
The deployment includes providing installation services, consultation solutions, and customer support, similarly as handling aspects associated with copyrights, licensing, and patenting. 3D printing benefits manufacturers in terms of prototyping, structural designing the structures and end products, modeling, and reduced time to promote. As a result, the assembly expenses have reduced considerably helping the manufacturers offer better products at reasonable prices. As a result, the demand for 3D printers is supposed to witness significant rise within the forthcoming years.
The final notion prevailing among these enterprises is that prototyping is simply a rich phase before manufacturing. Such perceptions regarding the prototyping include the shortage of technical knowledge, and a lack of normal process controls are estimated to hinder the market boom.
Market segmentation:
The global 3D printing market is segmented supported technology, component, end user, and region.
Regional Analysis:
The global 3D printing market by region has been segmented into Asia Pacific (APAC), North America, Europe, and rest of the world (RoW). North America is anticipated to carry the most important share of the 3D printing industry, while the market in APAC is anticipated to grow at the best CAGR during the foreseen period. The expiry of fused deposition modelling and stereolithography patents of Stratasys and 3D Systems created several opportunities for emerging companies, as new entrants can easily get access to AM technology and make modifications supported their unique requirements.
The USA held the biggest share of the 3D printing market in North America in 2017. Continuous investments in R&D have broadened the applications of 3D printing within the academics and other industries, like automotive, healthcare, aerospace & defence, industrial, consumer products, where 3D printing is employed for developing prototypes and manufacturing end products.
Competitive Scenario:
In recent years, the main players within the 3D printing market have taken several strategic measures, like product launches, partnerships, and geographical expansions, to enhance their position within the industry. For instance, 3D Systems Corporation announced the expansion of its e-commerce platform, ‘On Demand Manufacturing Services Quickparts’, within the Europe, geographical region, and Africa (EMEA) region. The platform allows the users within the region to upload software system (CAD) files, receive quotes, and get prototypes of the merchandise.
Key Players:
Some of the major companies operating in the global 3D printing market are 3D Systems, Stratasys, EOS GmbH, GE Additive, Materialise, SLM Solutions, ExOne, HP, Envision TEC, Voxelijet and Others.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 3D Printing Market, By Component
6.1.1 Hardware
6.1.2 Software
6.1.3 Services
6.1.4 Market Size Estimations & Forecasts (2019-2024)
6.1.5 Y-o-Y Growth Rate Analysis
6.1.6 Market Attractiveness Index
6.2 3D Printing Market, By End-User
6.2.1 Automotive
6.2.2 Healthcare
6.2.3 Industrial
6.2.4 Consumer Electronics
6.2.5 Aerospace & Defense
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
6.3 3D Printing Market, By Technology
6.3.1 Stereolithography (SLA)
6.3.2 Fused Deposition Modelling (FDM)
6.3.3 Selective Laser Sintering (SLS)
6.3.4 Electrric Beam Melting (EBM)
6.3.5 Digital Light Processing (DLP)
6.3.6 Market Size Estimations & Forecasts (2019-2024)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Component
7.2.3 By End-User
7.2.4 By Technology
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Component
7.3.3 By End-User
7.3.4 By Technology
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Component
7.4.3 By End-User
7.4.4 By Technology
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Component
7.5.3 By End-User
7.5.4 By Technology
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Component
7.6.3 By End-User
7.6.4 By Technology
8. Key Player Analysis
8.1 3D Systems
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Stratasys
8.3 EOS GmbH
8.4 GE Additive
8.5 Materialise
8.6 SLM Solutions
8.7 ExOne
8.8 HP
8.9 Envision TEC
8.10 Voxelijet
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
