According to UnivDatos, the Industrial 3D Printing Market was valued at approximately USD 3.5 Billion in 2023 and is expected to grow at a robust CAGR of 21.5% during the forecast period (2024-2032) owing to the demand for customization and increasing industrial requirements.
The Industrial 3D Printing Market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the industrial 3D printing market. The industrial 3D printing market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the industrial 3D printing market at the global and regional levels.
Market Overview
Industrial 3D Printing—also referred to as additive manufacturing—Industrial 3D printing is an advanced manufacturing technology for the creation of a physical product from a computer-aided design (CAD) digital file. The popularity of industrial 3D printing method, innovation in technology and rising industrial demands are all likely to contribute to the industrial 3D printing market. Manufacturing companies will invest more because it reduces labor costs and can produce goods locally, however, it requires heavy investment to use the 3D printing technology.
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To fulfil the growing industrial demands, companies are taking initiatives for investment through partnerships. For instance, in November 2022, 3D systems announced that the company has partnered with WeMatter for expanding its 3D printing metal and polymer materials. Similarly, in November 2022, Stratasys ltd made strategic investment in axial3D with a purpose to make patient-specific 3D printing solutions for hospitals and medical device manufacturers more accessible so it becomes a mainstream healthcare solution.
Some of the major players operating in market include 3D Systems Corp, Xometry Inc, Stratasys Ltd, Proto Labs Inc, Velo3D Inc, Desktop Metal Inc, Materialise NV, Nano Dimension Ltd – ADR, Markforged Holding Corp, Shapeways Holdings Inc, among others.
The global industrial 3D printing market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on the technology, the market is fragmented into stereolithography (SLA), fused modelling deposition (FDM), selective laser sintering (SLS), direct metal sintering (DMLS), polyjet printing, inkjet printing and others. The stereolithography (SLA) segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The benefits and simplicity of operation associated with stereolithography (SLA) technology are boosting its development in the manufacturing sector.
· Based on the end user, the market is fragmented into aerospace, automotive, defense, healthcare, power & energy and others. The automotive segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The automotive sector has been using 3D printing technology for years to quickly build small custom goods and prototype machinery. The method is frequently utilized to create lightweight OEM and automotive components.
Have a Look at the Chapters
Industrial 3D Printing Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific)
· Rest of the World
North America constitutes a major market for the industrial 3D printing industry due to various factors such as efficient use of materials, minimized human errors, customization of product and reduced production time and cost. Additionally, among all other regions, the Asia-Pacific market is expected to expand quickly with the highest CAGR that can be attributed to the developments and upgrades across the manufacturing industry within the region.
The major players targeting the market include:
· 3D Systems Corp
· Xometry Inc
· Stratasys Ltd
· Proto Labs Inc
· Velo3D Inc
· Desktop Metal Inc
· Materialise NV
· Nano Dimension Ltd – ADR
· Markforged Holding Corp
· Shapeways Holdings Inc
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Industrial 3D Printing Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the industrial 3D printing market?
• Which factors are influencing the industrial 3D printing market over the forecast period?
• What are the global challenges, threats, and risks in the industrial 3D printing market?
• Which factors are propelling and restraining the industrial 3D printing market?
• What are the demanding global regions of the industrial 3D printing market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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