New Report Connects to 3D Printing Market

Posted April 15, 2020 by madhavithundyil

Constant expansion of application along with technological advancement followed by growing demand for customized products are key drivers for Global 3D Printing Market.
3D Printing Market is valued around USD 12.96 Billion in 2019 and expected to reach USD 107.52 Billion by 2030 with the CAGR of 21.2% over the forecast period.

3D printing is a polymer additive technology which is also known as desktop fabrication. This utilizes the digital file for the production of goods by using different raw materials such as metals, polymer, ceramics and others. This technology helps in the manufacturing of complex structures with ease which is actually hard to get with conventional techniques. It is widely adopted in different industries such as automotive, healthcare, manufacturing, aviation & many more.

Global 3D Printing Market report is segmented on the basis of component, technology, end user and by regional. Based upon component, the 3D printing market is fragmented into software, services and hardware. Based on technology, the market is fragmented into SLA, FDM, SLS, EBM, DLP, and Others. On the basis of end user, the market is divided into Automotive, Healthcare, Industrial, Consumer electronics, Aerospace & defense, and others. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.

The 3D printings market is mainly driven by the constant expansion of application from different industries in addition with surge in the adoption of 3D printing. There has been constant growth in the demand of customized product along with developing infrastructure. In addition, there has been continuous evolution of technology taking place to further promote the market growth. Rapidly growing demand for products with reduction in errors as well as reduction in the manufacturing cost is also act as the major driving factors over the forecast period. However, high cost of the raw materials along with the high cost of 3D printing as well as lack of skilled labor may act as the major restraining factors for the market growth.

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The developed regions such as North America and Europe are expected to hold the major market share owing to the developed infrastructure with advanced technology. Moreover, there has been increased demand for customized product along with high disposable income is also expected to fuel the market growth. Asia Pacific is expected to dominate the 3D printing market in terms of growth rate owing to the wide applications in different industries supported by rapid industrialization in the region. In addition, there has been surge in government initiatives to promote the 3D printing followed by increased expenditure of research & developing activities likely to augment the market growth.

The major market players profiled in the 3D printing market includes Arcam AB, 3D Systems, Stratasys Ltd, Autodesk, Inc., Hoganas AB, The ExOne Company, Organovo Holdings, Inc., Optomec, Inc., Voxeljet AG and Ponoko Limited among others.

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Issued By Joseph Lawrence
Country India
Categories Research , Semiconductors , Technology
Tags 3d printing , 3d printing industry , 3d printing market
Last Updated April 15, 2020