Global Industrial 3D Printing Overview
The key drivers impacting industrial 3D printing are the growing government participation and funding to put up a successful and sustainable additive manufacturing environment. For instance, the Australian government offers a $100 million Advanced Manufacturing Fund that impels innovation in Australia’s manufacturing sector to grow businesses, create jobs, and improve productivity and be globally competitive.
The EU has approved 3 million euros to the Materials scientist at Friedrich-Alexander-Universität Erlangen-Nürnberg(FAU) in funding to support research in additive manufacturing of high-performance components employing high-energy electron beams. Also, significant investments by start-up companies in 3D printing promote the market's growth in the coming years. Moreover, the augmented focus on high-volume production using 3D printing contributes to industrial 3D printing demand in later years.
According to Value Market Research, the global industrial 3D printing size was valued at about USD 2.5 billion in 2020 and is estimated to grow at a CAGR of around 21% during the forecast period 2021 to 2027.
The growing demand for 3D printing software to produce industry-grade parts will likely augment the demand for industrial 3D printings in the forecast period. Also, rapidly growing digitization has facilitated early progress for the additive manufacturing industry globally, positively impacting the market growth. However, the lack of standardization hampers the market in the long run. In addition, the augmented threat of copyright breach acts as a big challenge for the market. Nevertheless, the market trends, such as the introduction of digital or intelligent manufacturing with the emergence of Industry 4.0, might provide massive market opportunities to the market's key players.
Industrial 3D printing is widespread, with a considerable number of international and local players. Consequently, the market leaders follow diverse strategies to strengthen their market, such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to raise their market share globally. The key players in the report are Stratasys, 3D Systems, Materialise, EOS, GE Additive, ExOne, voxeljet, EnvisionTEC, SLM Solutions, and HP.
In this research report, industrial 3D printing is segmented by offering, technology, application, industry, and region.
Analysis by Offering :
By offering, the report is segmented into printers, materials, software, and services. The printers segment dominates with the highest market share in 2020. It is due to the wide usage of Industrial 3D printers in various industries, such as automotive, aerospace & defense, healthcare, printed electronics, jewelry, energy, and engineering. Moreover, 3D printing needs no tooling; manufacturers can decrease the time necessary to manufacture parts, bypass a costly and time-consuming step production contributing to the printers segment's growth in the forecast period.
Analysis by Technology:
By technology, the report is segmented into stereolithography, fused deposition modeling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, electron beam melting, laser metal deposition, digital light projection, laminated object manufacturing, and others. The direct metal laser sintering segment dominates with the highest market share in 2020. It is majorly utilized in the tooling and manufacturing of fixtures and jigs. Moreover, the technology facilitates the high-quality metal parts creation and facilitates the construction of complex geometric shapes of metals which make it perfect for the manufacturing industry, thereby contributes to the growth of direct metal laser sintering in the forecast period.
Analysis by Application:
By Application, the report is divided into prototyping and manufacturing. The prototyping segment dominates the application segment with a high market share in 2020. It is because prototyping helps in the verification of designs and their correctness. Moreover, it is majorly followed in different sectors, such as aerospace, automotive, defense, education, healthcare, research, and others, contributing to the high growth of the prototyping application segment.
Analysis by End-use Industry:
By End-use industry, the report is divided into automotive, aerospace & defense, food & culinary, printed electronics, foundry & forging, healthcare, jewelry, oil & gas, consumer goods, and others. The aerospace & defense segment dominates the end-use industry segment with a significant market share in 2020. It is due to the high adoption of printers, materials, and services by this aerospace industry. In the automotive industry, machine vision is extensively used for inspection purposes, including presence-absence checking, assembly verification, error proofing, and final inspection. Moreover, strict requirements such as lightweight components and accurate and precise airplane parts contribute to the increased market demand from the automotive industry.
Analysis by Region:
In the regional outlook of the global industrial 3D printing, the North America region dominates with the largest market share in 2020. It is due to the growing technological advancements and the widespread adoption of additive manufacturing. Moreover, the U.S. and Canada have been some of the well-known and early adopters of 3D printing technologies in a variety of manufacturing processes, contribute to the tremendous market growth across North America
Market Segmentation covered in the Report:
- Fused Deposition Modelling
- Selective Laser Sintering
- Direct Metal Laser Sintering
- Polyjet Printing
- Inkjet Printing
- Electron Beam Melting
- Laser Metal Deposition
- Digital Light Projection
- Laminated Object Manufacturing
By End use Industries
- Aerospace & Defense
- Food & Culinary
- Printed Electronics
- Foundry & Forging
- Oil & Gas
- Consumer Goods
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.