Scope of the Study
3D Printing Technologies enables allows manufacturers to develop objects using a digital file and various printing materials. It is used to build a three-dimensional object from a computer-aided design using various materials such as polymers, metals, and ceramic. The evolution of this production technology has made several important changes in the economic and social levels, especially in the emerging economies. Market players are focusing on technological advancement in 3D Printing Technologies. For instance, In May 2018, BMW launched a new prototype of their bike, the s1000RR that incorporates 3D printing. The prototype of the bike consists of a 3D printed frame and a swing arm manufactured by 3D technologies. The growing research and development of 3D printing are expected to develop new opportunities for market growth in the upcoming years.
The market study is being classified by Type (Industrial 3D Printers and Desktop 3D Printers), by Application (Prototyping, Functional Part Manufacturing and Tooling) and major geographies with country level break-up. According to AMA, the Global 3D Printing Technologies market is expected to see growth rate of 24.09% and may see market size of USD51.44 Billion by 2024.
Stratasys, Ltd. (United States), 3D Systems (United States), EOS GmbH (Germany), GE Additive (United States), Materialise NV (Belgium), ExOne Co (United States), Voxeljet AG (Germany), Hewlett Packard Inc. (United States), SLM Solutions Group AG (Germany), EnvisionTEC (United States), Mcor Technologies Ltd (Ireland), Ultimaker (Netherlands), Groupe Gorgé (France), Beijing Tiertime Technology (China), ARC Group Worldwide Inc. (United States), Autodesk, Inc. (United States) and Proto Labs Inc. (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Made In Space, Inc. (United States), Nano Dimension (Israel), Carbon3D (United States), Concept – Laser GmbH (Germany), Sisma S.P.A. (Italy) and Arcam AB (Sweden).
In 3D Printing Technologies Market, it has been observed that most of the companies are upgrading or introducing innovative solutions using 3D printers. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share.The Players having a strong hold in the market are Stratasys, 3D Systems, EOS, GE Additive, and Materialise. Research Analyst at AMA predicts that United States and Europe Players will contribute to the maximum growth of Global 3D Printing Technologies market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global 3D Printing Technologies market by Type, Application and Region. On the basis of Type, Industrial 3D Printers are dominating the market and held 79.15% of market share in the year 2018 where as Desktop 3D Printers stood as second largest market share and accounted for 20.85%.
On the basis of application, Prototyping segment is dominating the market in the year 2018 where as Functional Parts Manufacturing segment stood as second largest market.
On the basis of geography, the market of 3D Printing Technologies has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Ease in Development of Customized Products
- Reduction in Manufacturing Cost and Process Downtime
- Development of Customized Products
- Efficient Logistics Management
- Development of New Industrial-Grade 3D Printing Materials
- High Price & Investment and Technological Limitations
- Lack of Skilled Labor
- Support and Investments by Government and VCs
- Application into Various Industries such as Automotive, Education, Jewelry, and Printed Electronics
- Ensuring Product Quality
- The Threat of Copyright Infringement
Market Leaders and their expansionary development strategies
In April 2019, 3D Systems opened a new Advanced Additive Manufacturing Center in Pinerolo, Italy. From the last one and half years, the company was planning to double its manufacturing capacity and increase the breadth of capabilities to meet increasing customer demand. This expansion was intended to bring all SLA and SLS activity in one center.
In September 2018, Stratasys extended its collaboration with Team Penske for providing FDM additive manufacturing advance car testing and production of prototypes and functional parts. Using Stratasys’ industrial 3D printers, the Fortus 380mc Carbon Fiber Edition (CFE) industrial 3D printer and the F900, Team Penske is gaining a competitive edge for car testing, prototypes, and production parts.
Analyst CommentThe adoption of 3D Printing Technologies can help the manufacturers and suppliers focus on increasing the rate of adoption globally focusing majorly on the emerging countries
Key Target Audience3D Printing Technologies Providers, End-User Industries, Raw Material Suppliers, Distributors and Suppliers of 3D Printers and Research and Development
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