PUNE, India, May 12, 2016 /PRNewswire/ --
According to a new market research report " Industrial 3D Printing Market (3D Manufacturing) by Process, Technology (SLA, FDM, SLS, DMLS, EBM, LMD, PJP, DLP, LOM, Inkjet Printing), Software, Service, Application, End-User Industry and Geography - Global Forecast to 2022", published by MarketsandMarkets, the market is expected to reach USD 4.75 Billion by 2022, at a CAGR of 29.2% between 2016 and 2022.
Browse 80 market data Tables and 77 Figures spread through 203 Pages and in-depth TOC on "Industrial 3D Printing Market"
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Factors such as ease of developing customized products, reduction in manufacturing costs, and introduction of new materials are expected to drive the growth of the industrial 3D printing market during the forecast period.
The market for the electrical & electronics end-user industry expected to grow at the highest rate during the forecast period
The demand for industrial 3D printing in the electrical & electronics industry is expected to increase considering its growing usage for producing tools and for printing power connectors, buttons, and circuits embedded into their plastic models and robotics. Rise in the adoption of industrial robotics in the electrical and electronics industry because of the miniaturization of electrical and electronics equipment and complexity in manufacturing processes is expected to drive the market.
Laser metal deposition expected to be the fastest-growing technology in the industrial 3D printing market during the forecast period
The laser metal deposition technology is used for repairing, cladding, and producing parts. Some of the common applications of this technology include repair of mold tool surfaces and repair and production of machinery parts and robotics. The benefits of laser metal deposition printing technology include reduction of material wastage, reduced tooling costs, repair of parts that are costly to replace, decreased lead time, and customization of parts according to customers' requirements.
North America expected to dominate the industrial 3D printing market during the forecast period
North America is expected to hold the largest share of the Industrial 3D Printing Market during the forecast period, with the U.S. being the major driver for the growth of this market. Major industries such as aerospace & defense and automotive are increasingly using industrial 3D printing technology for tooling, producing robotics parts such as arms and grippers, and manufacturing machinery parts to maximize functional integration and consistency while minimizing costs.
The industrial 3D printing market has been segmented on the basis of process (material extrusion, material jetting, binder jetting, sheet lamination, vat photopolymerization, powder bed fusion, and directed energy deposition), technology (stereolithography, fuse deposition modelling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, electron beam melting, laser metal deposition, direct light projection, laminated object manufacturing, and others), application (tooling, heavy equipment & machinery, and robotics), end-user industry (automotive, aerospace & defense, healthcare, electrical/electronics, foundry & forging, jewelry, food & beverage, and others), and geography (North America, Europe, APAC, and RoW).
Apart from the market segmentation, the report also covers the Porter's five forces analysis, the market's value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges in the overall industrial 3D printing market.
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The major players in the 3D printing market include 3D Systems Corporation (U.S.), Stratasys Ltd. (U.S. & Israel), the ExOne Company(U.S.), Voxeljet AG (Germany), Arcam Group (Sweden), SLM Solutions Group AG (Germany), EOS GmbH (Germany), EnvisionTEC GmbH (Germany), Materialise NV (Belgium), Sciaky Inc. (U.S.), Concept Laser GmbH (Germany), Hoganas AB (Sweden), and Renishaw PLC. (U.K.).
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