3D Printing Market by Technology - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-20 16:07:03
The 3D Printing Market is expected to grow at a CAGR of 23% from 2013 to 2020, and reach US$8.41 billion in 2020.
The major driving factors for the 3D Printing Market are focused on the following key areas such as the ease of manufacturing low volumes of complex geometry components and the rapid time required to manufacture and source customized products with regards to various applications within the sectors such as aerospace, automotive, consumer and healthcare.
The elements behind the rapid upsurge in the 3D Printing Market are the innovative and advanced technologies, customized products, governments funding, wide unexploited application market, rapid development of the products at a low cost, and less time-to-market. In addition, the upcoming (in 2014) expiration of patents with respect to the Selective Laser Sintering (SLS) is also believed to provide a further impetus to the growth of the 3D Printer Market.
As of 2013, the America holds the largest revenue share followed by Europe in 3D Printer Machines, materials, and related services. However, Europe is also expected to surpass America in terms of the 3D Printing Market revenue by 2020. The foremost factors accountable for the expansion of 3D Printing Market include new and improved 3D printing technologies, wide range of materials (polymers, metals/alloys, sand, ceramics, living tissue), government funding, broad application scope, and increased awareness regarding the benefits of 3D printing over traditional techniques (injection molding and CNC machining). However, APAC is the fastest growing and most promising market for 3D printing due to high industrial growth, technological awareness, supportive government policies, and financial investment by the governments in R&D.
The major companies operating in this market are 3D Systems (U.S.), Stratasys (U.S.), Arcam AB (Sweden), Exone (U.S.), and others.
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