3D Printing Market to Grow at 21.2% CAGR by 2030
Consistently expanding applications of 3D Printing in different industries followed by rising demand of customized product along with technological advancement in 3D printing market are expected to drive the growth of 3D Printing industry during the forecast period of 2020-2030.
The 3D Printing Market is expected to grow at the CAGR of 21.2% from 2020-2030, according to a new research report by Next Move Strategy Consulting.
3D printing is also known as desktop fabrication which is based on the additive polymer technology. This helps in the production of various products from the digital file and involves the use of various metals, polymer, ceramics and others. 3D printing helps in the production of manufacturing of complex structure with perfection which actually hard to achieve in reality by the use of conventional techniques.
According to the report, consistently expanding applications of 3d printing in different industries mainly in healthcare, construction and others are the primary growth factors. There has been constant evolution of the technology as well as development of infrastructure to achieve better results with high accuracy. In addition to the above there has been constant growth in the demand of customized product mainly in healthcare industry. There has been reduction in errors along with the manufacturing cost is anticipated the market growth over the forecast period. Moreover, surge adoption of artificial intelligence and Internet of things in 3D printing expected to bring change in market trend over the forecast period.
However, high cost of the 3D printing along with lack of skilled labour as well as high cost of raw materials is expected to inhibit the market growth. Moreover, rising investments in research and development activities associated with innovation is anticipated to provide numerous opportunities to the market in the coming few years.
On the basis of Component, the 3D printing market share is segmented into Software, Services and Hardware. Software segments hold the major market share dominates the global 3D printing market and will be the dominant during the forecasted period.
On the basis of technology, the 3D printing market is categorised into SLA, FDM, SLS, EBM, DLP, and Others. The FDM segment accounts for the major market share owing to wide application and majorly used for complex structure. FDM is expected to dominate the technology segment in terms of share & growth rate over the forecast period.
On the basis of end user, the 3D printing market is categorized into Automotive, Healthcare, Industrial, Consumer electronics, Aerospace & defence, and others. Automotive segment dominates the market in terms of market share; on the other hand healthcare is expected to show significant growth over the forecast period.
North America is likely to account for the highest market size & share of the 3D printing market in the forecast period 2020–2030 owing to the wide application, rising demand from different end users along with technological advancement. Europe accounts for the second leading position in the 3D printing market size. Asia Pacific is expected to be the fastest developing region in the 3D printing market which is majorly driven by the presence of supporting government initiatives to promote research & development. Moreover, rapid urbanization & industrialization has also boosted the demand for reduced errors and reduced manufacturing time.
According to the report, some the key players in the 3D printing market are Arcam AB, 3D Systems, Stratasys Ltd, Autodesk, Inc., Hoganas AB, The ExOne Company, Organovo Holdings, Inc., Optomec, Inc., Voxeljet AG and Ponoko Limited.
Browse key industry insights from the report at https://www.nextmsc.com/report/3d-printing-market in detail along with the table of contents:
Key Insights from the 3D Printing Market Report:
- Asia Pacific is the fastest growing 3D printing market owing to the rising demand for the 3D printing from different industries with wide applications, rapid industrialization, low labour cost, and presence of developing economies.
- The FDM technology dominates the segment and is expected to grow at significant CAGR to maintain the led in 2030.
- Some of the major players in the market are Arcam AB, 3D Systems, Stratasys Ltd, Autodesk, Inc., Hoganas AB, The ExOne Company, Organovo Holdings, Inc., Optomec, Inc., Voxeljet AG and Ponoko Limited.
The report 3D Printing market – segmented by component, technology, end user and geography
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