3D Printing Technologies Market Definition
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 growing research and development of 3D printing are expected to develop new opportunities for market growth in the upcoming years.
The market study is broken down by Type (Industrial 3D Printers and Desktop 3D Printers), by Application (Prototyping, Functional Part Manufacturing and Tooling) and major geographies with country level splits. 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.
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 estimates that United States, Europe Players will contribute to the maximum growth of Global 3D Printing Technologies market throughout the predicted period.
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 that are part of study coverage. 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).
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 and held 20.85% of market share 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. If we see Market by Vertical, the sub-segment i.e. Automobiles will boost the 3D Printing Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology , the sub-segment i.e. Stereo Lithography will boost the 3D Printing Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Process, the sub-segment i.e. Powder Bed Fusion will boost the 3D Printing Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Metal will boost the 3D Printing Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the 3D Printing Technologies market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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., and 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.
- Development of New Industrial-Grade 3D Printing Materials
- Ease in Development of Customized Products
- Reduction in Manufacturing Cost and Process Downtime
- Development of Customized Products
- Efficient Logistics Management
- Support and Investments by Government and VCs
- Application into Various Industries such as Automotive, Education, Jewelry, and Printed Electronics
- High Price & Investment and Technological Limitations
- Lack of Skilled Labor
- Ensuring Product Quality
- The Threat of Copyright Infringement
Key Target Audience3D Printing Technologies Providers, End-User Industries, Raw Material Suppliers, Distributors and Suppliers of 3D Printers and Research and Development
Key Finding and Research ObjectivesWhere will 3D Printing Technologies market reach in upcoming years? What are the upcoming trends in the 3D Printing Technologies market? What are the opportunities for 3D Printing Technologies providers? What are the key drivers and restraints of market growth? How will the global 3D printing technology market evolve from 2019 to 2024? What are the emerging industrial applications of 3D Printing Technologies?
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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