BANGALORE, India, March 16, 2020 /PRNewswire/ -- The 3D Printing Market size was US$ 6422.5 million in 2019 and it is expected to reach US$ 44520 million by the end of 2026, at a CAGR of 31.4% during 2021-2026.
The Global 3D Printing Market is expected to expand rapidly in the coming years. 3D Printing or Additive Manufacture is a layer-by-layer process in which 3D objects are generated directly from a digital model. 3D Printing & Additive Manufacturing produces usable parts that are used in medical, aerospace, defense and various other sectors.
The growth of the additive manufacturing industry depends heavily on the growth of other sectors, such as construction, food, and beverages, automotive, aerospace, and healthcare. There is substantial demand from the medical and dental industries for additive manufacturing.
New and enhanced technology, government financial support, large-scale application area, rapid and low-cost product creation, and easy customization of products are the major factors intended to drive the additive manufacturing industry.
Additive manufacturing is used within the medical industry to produce end products such as surgical instruments, prosthetics & implants, and scaffolds. The additive manufacturing market is rising due to the increasing incidence of surgical procedures, combined with technological advances.
The 3D printed automobile production is changing the perception of mobility. The technological advances in automobile concepts such as driverless cars and electrification of automobiles are driving the market for 3D printers.
North America is expected to be the fastest growing regional market due to its early stage adoption of the 3D printer technology
Asia Pacific is expected to be the fastest growing market due to promotions by government in manufacturing and raising customization demands
Market growth is driven largely by factors such as technological advancements, increased public-private funding for 3D printing projects, easy production of personalized medical devices and increasing healthcare applications.
The report strategically segments the market into product and end-user. Based on end-user, the market is segmented into Hospital and Medical Center. Based on the product, the market is segmented into External Wearable Devices and Clinical Study Devices.
The research report categorizes the Global 3D Printing Medical Devices market by top players/brands, region, type, and end-user. This report also studies the global 3D Printing Medical Devices market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, and distributors.
In 2019, the global market size of 3D Food Printing was US$ 17 million and is projected to hit US$ 112.6 million by the end of 2026, with a CAGR of 31.0 percent in 2021-2026.
3D printing is a process in which the material is joined or solidified using computer design to create a three-dimensional structure. Increasing customer demand for personalized and customizable food items is increasing demand for 3D food printers. Manufacturers are launching innovative 3D food printers for indulgence applications such as chocolates, confectioneries and pan cakes which lead to increased demand for commercial and domestic food printers worldwide.
The global market size of the healthcare 3D printing industry was estimated at $973 million in 2018 and is expected to hit $3,692 million by 2026, increasing from 2019 to 2026 at a CAGR of 18.2 percent.
3D printing technology has seen a high degree of acceptance in the healthcare sector. In addition, the use of 3D printing technology to predict mechanical and tensile strength will improve its applicability in novel healthcare applications. Technology innovation and increase in 3D printing applications in healthcare applications are the major factors that drive further market growth.
In 2019, the global Automotive 3D Printing market size was US$ 1882.4 million, and it is expected to reach US$ 8349.5 million by the end of 2026, with a CAGR of 23.5% during 2021-2026.
Increasing adoption of 3D printing in the automotive sector is attributed to its advantages such as innovative designing, high adaptability levels, less time to market, and the ability to manufacture parts without expensive tooling.
This report focuses on the global Automotive 3D Printing status, future forecast, growth opportunity, key market, and key players. The objectives of the study are to present the Automotive 3D Printing development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.
In 2019, the global Industrial 3D Printing market size was US$ 1421.2 million, and it is expected to reach US$ 5781.9 million by the end of 2026, with a CAGR of 22.0% during 2021-2026.
In 2017, North America led demand for industrial 3D printing, followed by Europe and APAC in terms of market share. The United States holds the largest share of the North American market for industrial 3D printing. The involvement of major US automotive, aerospace, military, and healthcare industries powers North America's industrial 3D printing industry.
In 2019, the global 3D Printing Services market size was US$ 4068 million, and it is expected to reach US$ 17170 million by the end of 2026, with a CAGR of 22.7% during 2021-2026.
With the growing utilization of 3D printing services in the manufacturing industry, the production process is expected to radically change in the near future. The growth of Manufacturing-as-a-Service (MaaS), waste reduction and resource enhancement are among the few notable innovations that 3D printing services provide. These advantages are expected to facilitate the market growth.
Additive manufacturing helps in transforming the entire manufacturing process by minimizing costs and improving quality. This technological evolution in additive manufacturing technology is expected to increase the market growth.
The report offers an exhaustive assessment of different region-wise and country-wise Additive Manufacturing (AM) markets such as the U.S., Canada, Germany, France, the UK, Italy, Russia, China, Japan, South Korea, Taiwan, India, Australia, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Argentina, Saudi Arabia, UAE, Turkey, etc.
Dental 3D printing is an additive manufacturing tool for creating 3D dental models for implants, surgical guides, bracelets, dentures, crowns and bridges. Demand for 3D printing increases rapidly in the dental market due to the high rate of dental caries & other dental diseases and increasing value for cosmetic dentistry.
The report has strategically segmented the market into type and application. Based on type, the market is segmented into Desktop 3D Printing and Industrial 3D Printing. Based on the application, the market is segmented into Dental Lab & Clinic and Hospital.
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
Valuates is curating premium Market Research Reports from the leading publishers around the globe. We will help you map your information needs to our report repository of Market research reports and guide you through your purchasing decision. We are based out of Silicon Valley of India (Bengaluru) and provide 24/6 online and offline support to all our customers and just a phone call away.