Allied Market Research published a report on the Industrial 3D Printing Market by Component, Technology, and End-User: Global Opportunity Analysis and Industry Forecast, 2021-2031.
The global industrial 3d printing market was valued at $15 billion in 2021, and is projected to reach $107.7 billion by 2031, growing at a CAGR of 21.9% from 2022 to 2031.
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Industrial 3D printing, also known as additive printing is used for the development of 3D objects using a digital file. Industrial 3D printing uses additive processes of successive layering of material for creation of objects. 3D printing has gained acceptance in various industries for development of customized products owing to high accuracy and efficient use of materials. There is rise in adoption of 3D printing in the industrial sector owing to less material wastage and reduced production time and costs.
Earlier, 3D printing was limited to rapid production of prototypes. However, 3D printing is increasingly being used for functional testing of prototypes under working conditions and development of final products, with technological advancements and increase in applications. Major application of industrial 3D printing technology is in industries like consumer goods, defense, aerospace, and automotive.
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The competitive environment of the industrial 3d printing market is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, industrial 3d printing market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the industrial 3d printing industry include:
- Stratasys, Ltd.
- arcam ab
- HOGANAS AB
- Materialise (Belgium)
- General Electric Company
- GE Additive (US)
- ExOne Company
- CANON INC.
- Envisiontec, Inc.
- Autodesk, Inc.
- Eos GmbH (Germany)
- 3D Systems
- Optomec Inc.
- HP Inc. (US)
- Organovo Holdings Inc.
- Voxeljet AG
- SLM Solutions (Germany)
The industrial 3D printing market trends are primarily driven by the need to manufacture complex designs within a short span of time accompanied with the desire to utilize the resources efficiently. The use of 3D printing during the initial stages of production is beneficial, as designers can identify errors or defects from the built prototype; thereby ultimately reducing the production time and operational cost.
Other factors that drive the industrial 3D printing industry include manufacturing of customized parts, reduction in human error, depletion in cost and time of production, and higher resolution. However, high printing cost involved for individual use, unavailability of skilled labors, and lack of channel partner assistance for sale and distribution are some important factors restricting the industrial 3D printing market growth.
According to industrial 3D printing market analysis, the hardware segment was the highest contributor to the market in 2021. The stereolithography (SLA) and fused deposition modeling (FDM) segments collectively accounted for around 53.2% market share in 2021. These technologies are based on additive printing technique to build 3D objects.The outbreak of the COVID-19 has significantly impacted the growth of the industrial 3D printing.
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Key Benefits for Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial 3d printing market analysis from 2021 to 2031 to identify the prevailing industrial 3D printing market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the industrial 3d printing market outlook assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global industrial 3d printing market trends, key players, market segments, application areas, industrial 3D printing market forecast and market growth strategies.
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