NEW YORK, May 25, 2016 /PRNewswire/ -- The industrial 3D printing market is expected to reach USD 4.75 billion by 2022, at a CAGR of 29.2% between 2016 and 2022. Industrial 3D printing is used for tooling, manufacturing, and repairing heavy equipment & machinery parts and robotics in industries such as automotive, aerospace & defense, electrical/electronics, foundry & forging, food & beverage, jewelry, and healthcare. The industrial 3D printing market is growing rapidly and it is now focusing on manufacturing and repairing parts of heavy equipment & machinery with the development of technologies and introduction of new materials.
"INDUSTRIAL 3D PRINTING MARKET FOR ELECTRICAL & ELECTRONICS INDUSTRY TO WITNESS HIGH GROWTH RATE DURING THE FORECAST PERIOD"
Industrial 3D printing holds great potential in the electrical & electronics industry as manufacturing tools using traditional method involves processes such as forging, grinding, milling, and assembly along with molds, jigs, and fixtures. On the other hand, using 3D printing, the tools can be created in a single operation without any material wastage.
"APAC INDUSTRIAL 3D PRINTING MARKET EXPECTED TO WITNESS FASTEST GROWTH DURING THE FORECAST PERIOD"
APAC is the largest and fastest-growing market for automotive and electrical & electronics industries and offers new market opportunities for industrial 3D printing. Tooling and robotics are the major applications driving the market for industrial 3D printing in APAC. Japan and China are the major contributors to this market.
The break-up of the profile of primary participants is given below:
- By Company Type: Tier 1 – 20%, Tier 2 – 55%, and Tier 3 – 25%
- By Designation: C-Level Executives – 30%, Directors – 55%, Others – 15%
- By Region: North America – 40%, Europe – 35%, APAC – 15%, RoW – 10%
The major players in the industrial 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), Renishaw PLC. (U.K.), Oxford Performance Materials Inc. (U.S.), and Sculpteo (France).
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the industrial 3D printing market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different verticals and regions.
2. The report would help stakeholders to understand the pulse of the market by providing information on the key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.
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