3d Printing Market Held a Value of $15 Billion in 2018

According to the report published by IndustryARC titled “3D Printing Market: By Offering (Printer, Scanner, Material, Software, Service); By Application (Production, Prototyping, Research & Education); By End User (Consumers, Automotive, Construction) & By Geography - Forecast(2018 - 2023),”the market is estimated to grow at a CAGR of 25%, where North America will be the foremost contributor in the industry growth.

Browse 74 Market Tables, and 178 Figures spread through 112 Pages and go through an in-depth TOC on “3D Printing Market”

According to a recent study from IndustryARC, the 3D Printing market is gaining prominence due to growing popularity of metal printing and it is experiencing a wider adoption due to an increasing need for prototyping in the industries. 3D printers today are capable of producing large variety of materials for diversified industrial applications and it is largely used in automotive applications. The 3D printing in the automotive industry is growing at a CAGR of 15%, and is expected to maintain the same for the forecast period 2018-2025. In the automotive industry, 3D printing has explored new opportunities for new and innovative products that are robust, lighter, and stronger in the designs. 3D printing in the automotive industry is adopted to manufacture parts with complex geometries. Deployment of 3d printing technology in the manufacturing and operations process creates an opportunity of high scalability for the industries.

In terms of geographic regions, North America is the largest revenue contributor to the 3D printing market with 40% market share. In North America, the demand for 3D printing technology has grown tremendously especially in the automotive sector. As the region is moving forward to innovate lightweight fuel-efficient car with minimum emission, 3D printing can find large applications in this region. Recently in CES 2019 in Las Vegas, the stereo lithography 3D printer manufacturer Nexa3D displayed its new NXE400 3D printer for the first time in North America. The company is also collaborating with the Techniplas, a global automotive manufacturing provider to expand its presence in the automotive industry in showcasing a concept vehicle that features 3D printed parts produced by Nexa3D. 

3D Printing Market manufacturers have utilized mergers and acquisitions as well as product launches as a strategy and enhanced core competencies through additions to product portfolio to gain a foothold in the emerging markets.

The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.