CLEVELAND, Nov. 8, 2017 /PRNewswire/ -- Worldwide demand for 3D printers is projected to expand at a 24% annual pace to $5.4 billion in 2021. Demand for printers on a region-by-region basis largely follows the overall 3D printing market. All global regions are expected to record growth in excess of 20% per year through 2021. These and other trends are presented in Global 3D Printing Markets, 2nd Edition, a new study from The Freedonia Group, a Cleveland-based industry research firm.
The printer types driving growth in the developed markets of North America and Western Europe will be different than those in the emerging Asia/Pacific market. Developed region end users will increasingly shift to 3D printing for small-scale production applications, attracted by labor and material savings. In the Asia/Pacific region, particularly China, inexpensive desktop printers will record the most rapid growth, spurred by their low purchase price and extensive use in educational settings.
In 2016, 3D printer demand was $1.8 billion. Prototyping printers accounted for 70% of all 3D printer demand in value terms, followed by production printers with 24%. According to analyst Zoe Biller, "Despite their dominance of unit sales, desktop printers only represented 6% of the printing hardware market in value terms."
Through 2021, overall printer demand will be driven by wider adoption of production and desktop printers. 3D printing for prototyping applications is relatively mature in the industries where it is already most widespread – automotive, aerospace, consumer product design, and healthcare.
Global 3D Printing Markets, 2nd Edition (published 10/2017, 226 pages) is available for $6200 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Industrial Components studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.