The overall 3D printing market is expected to grow from USD 9.9 billion in 2018 to USD 34.8 billion by 2024 at a CAGR of 23.25%

NEW YORK, March 5, 2019 /PRNewswire/ --

3D printing market to grow at 23.25% CAGR from 2018 to 2024
The overall 3D printing market is expected to grow from USD 9.9 billion in 2018 to USD 34.8 billion by 2024 at a CAGR of 23.25%. Ease in development of customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects, and development of new industrial-grade 3D printing materials are the key factors driving the growth of this market. However, limited availability and the high cost of materials, limitation of product size, and lack of standard process control are likely to limit the market growth.

Read the full report: https://www.reportlinker.com/p04998220

Prototyping to hold largest share of 3D printing market in 2018
Prototyping application accounts for the largest share of the 3D printing market. 3D printing helps produce prototypes and models from 3D computer-aided design (CAD). This helps several companies to reduce wastage during prototype transitions in traditional manufacturing and also helps them to bring down their operational costs. 3D printing also enables the quick production of cost-efficient prototypes based on the customers' requirements regarding the geometry of structure, accuracy, and well-defined smoothness of the products used in any industry.

DMLS to hold largest share of 3D printing market in 2018
Direct metal laser sintering (DMLS) technology accounts for the largest share of the 3D printing market.This technology enables the creation of high-quality metal parts as it facilitates the construction of complex geometrics of metals, which makes it ideal for the manufacturing vertical.

The parts developed through the DMLS-enabled 3D printing are durable and resistant to heat as it uses materials such as Inconel, aluminum, stainless steel, and titanium.

North America to hold significant share of 3D printing market by 2024
North America is expected to account for the largest share of the 3D printing market by 2024.In the US, 3D printing is used in the companies functional in the major industries, such as manufacturing, aerospace & defense, and healthcare, which is driving the 3D printing market in this region.

The continuous technological advancements and financial support from the governments are also driving the market in North America.

Breakdown of profiles of primary participants:
• By Company: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C Level – 35%, Director Level – 25%, and Others – 40%
• By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW – 5%

Major players profiled in this report:
• Stratasys (US)
• 3D Systems (US)
• EOS GmbH (Germany)
• GE Additive (US)
• Materialise (Belgium)
• SLM Solutions (Germany)
• ExOne (US)
• Voxeljet (Germany)
• HP (US)
• EnvisionTEC (Germany)

Research Coverage
This report offers detailed insights into the 3D printing market based on offering, process, application, vertical, technology, and region.By offering, the 3D printing market has been segmented into printer, material, software, and service.

By process, the market has been segmented into powder bed fusion, material extrusion, vat photopolymerization, material jetting, binder jetting, directed energy deposition, and sheet lamination.By application, the 3D printing market has been segmented into prototyping, functional part manufacturing, and tooling.

By vertical, the 3D printing market has been segmented into aerospace & defense, industrial, healthcare, consumer products, automotive, jewelry, education, energy, architecture and construction, printed electronics, and food and culinary.By technology, the 3D printing market has been segmented into stereolithography, fused deposition modeling, selective laser sintering, direct metal laser sintering, polyjet/multijet printing, inkjet printing, electron beam melting, laser metal deposition, direct light projection, laminated object manufacturing, and other technologies.

The study forecasts the size of the market based on 4 regions—North America, Europe, APAC, and RoW.

Reasons to buy the report

The report would help market leaders/new entrants in this market in the following ways:
1. This report segments the 3D printing market comprehensively and provides the closest approximations of the overall market's size and its subsegments (across different offering, process, application, vertical, technology, and regions).
2. The report would help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem and product launches and developments, contracts, and mergers and acquisitions carried out by major market players.

Read the full report: https://www.reportlinker.com/p04998220

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