The overall industrial 3D printing market is estimated to grow from USD 1.73 Billion in 2018 to USD 5.66 Billion by 2023, at a CAGR of 27.21% between 2018 and 2023.
The industrial 3D printing market is expected to grow substantially due to the factors such as the evolution of 3D printing from developing prototypes to end-use parts production, ease of developing customized products, developments in existing industrial 3D printing materials market, government investments in 3D printing projects, and improvement in manufacturing efficiency.
The industrial 3D printing market for printed electronics, and healthcare are growing at the significant rates. Industrial 3D printing is an attractive market for the tooling application as the tooling required in industries is in low volume and has complex shapes based on the usage. This makes industrial 3D printing an attractive technology for tooling.
The industrial 3D printing market for the laser metal deposition technology is expected grow at the highest CAGR during the forecast period. Laser metal deposition technology can be used to print the parts for both repair and production purposes, which makes it suitable for use in manufacturing industries. The benefits of laser metal deposition technology such as reduction of material waste, low tooling costs, repair of parts costly to replace, reduction in lead time, and customization of parts according to the requirement are the major factors driving this market.
In 2017, North America led the industrial 3D printing market in terms of market share, based on value, followed by Europe and APAC. The US held the largest share of the North American industrial 3D printing market, followed by Canada and Mexico. The presence of major manufacturing, automotive, aerospace and defense, and healthcare industries in the US drives the industrial 3D printing market in North America. Continuous technological advancements and financial support from the government further fuel the growth of the market in this region.
The industrial 3D printing market faces challenges associated with maintaining requisite product quality and the threat of copyright infringement. Restraints that curb the market are the high cost and limited availability of materials, difficulties associated with the use of 3D printing software, and lack of standard process control. This report describes drivers, restraints, opportunities, and challenges pertaining to the industrial 3D printing market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Opportunities in Industrial 3D Printing Market 4.2 Industrial 3D Printing Market, By Offering, 2018-2023 4.3 Industrial 3D Printing Market for Materials, 2017 vs 2023 4.4 Industrial 3D Printing Market, By Technology, 2017-2023 4.5 Industrial 3D Printing Market Snapshot for Industries & Processes 4.6 Industrial 3D Printing Market, By Application, 2017 vs 2023 4.7 Industrial 3D Printing Market, By Geography, 2017-2023
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Ease of Developing Customized Products 184.108.40.206 Reduction in the Manufacturing Cost and Process Downtime 220.127.116.11 Development of New Industrial 3D Printing Materials 18.104.22.168 Government Investments in 3D Printing Projects 5.2.2 Restraints 22.214.171.124 Limited Availability and High Cost of Materials 126.96.36.199 Difficulties Associated With the Use of 3D Printing Software 188.8.131.52 Lack of Standard Process Control 5.2.3 Opportunities 184.108.40.206 Emerging Applications in the Manufacturing Sector 220.127.116.11 Potential to Improve Manufacturing Processes and Enhance Supply Chain Management 5.2.4 Challenges 18.104.22.168 Ensuring Product Quality 22.214.171.124 Threat of Copyright Infringement 5.3 Value Chain Analysis
7 Industrial 3D Printing Market, By Application 7.1 Introduction 7.2 Tooling 7.3 Heavy Equipment & Machinery 7.4 Robotics
8 Industrial 3D Printing Market, By Process 8.1 Introduction 8.2 Binder Jetting 8.3 Direct Energy Deposition 8.4 Material Extrusion 8.5 Material Jetting 8.6 Powder Bed Fusion 8.7 Sheet Lamination 8.8 Vat Photopolymerization
9 Industrial 3D Printing Market, By Technology 9.1 Introduction 9.2 Stereolithography (SLA) 9.3 Fused Deposition Modelling (FDM) 9.4 Selective Laser Sintering (SLS) 9.5 Direct Metal Laser Sintering (DMLS) 9.6 Polyjet Printing 9.7 Inkjet Printing 9.8 Electron Beam Melting (EBM) 9.9 Laser Metal Deposition (LMD) 9.10 Digital Light Processing (DLP) 9.11 Laminated Object Manufacturing (LOM) 9.12 Other Technologies
10 Industrial 3D Printing Market, By Industry 10.1 Introduction 10.2 Automotive 10.3 Aerospace & Defense 10.4 Food & Culinary 10.5 Printed Electronics 10.6 Foundry & Forging 10.7 Healthcare 10.8 Jewelry 10.9 Other Industries
13 Company Profiles 13.1 Introduction 13.2 Stratasys Ltd. 13.3 3D Systems Corporation 13.4 Materialise NV 13.5 EOS GmbH 13.6 The Exone Company 13.7 Voxeljet AG 13.8 Arcam AB 13.9 SLM Solutions Group AG 13.10 Envisiontec GmbH 13.11 Optomec Inc. 13.12 Concept Laser GmbH 13.13 Groupe Gorg 13.14 Renishaw PLC. 13.15 ARC Group Worldwide, Inc. 13.16 Hgans AB 13.17 Koninklijke DSM N.V. 13.18 Cookson Precious Metals Limited. 13.19 Markforged, Inc. 13.20 Scuplteo