Selective Laser Sintering Equipment Market by Material, Application, Industry, Laser Type And Geography - Global Forecast to 2023
NEW YORK, July 31, 2018 /PRNewswire/ -- Demand for prototyping and functional prototyping to fuel SLS equipment market growth
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The selective laser sintering (SLS) equipment market is estimated to be USD 339.5 million in 2018 and is projected to reach USD 947.4 million by 2023, for both equipment and material, growing at a CAGR of 22.8% between 2018 and 2023, whereas the market for equipment, inclusive of SLS and DMLS, is projected to grow at a CAGR of 27.5% during the forecast period. The growth of the SLS equipment market is propelled by the increasing government investments in 3D printing projects and the ability of the SLS equipment to produce parts possessing good mechanical properties with no build support. However, the lack of standard process control and difficulties in using SLS printing software inhibit the growth of the overall market. Complex operation and high risk associated with SLS equipment are among the major challenges faced by players in the SLS equipment market.
Growing market for automotive, consumer goods, and healthcare and medical devices propels SLS equipment market growth
SLS equipment is extensively used in prototyping and functional prototyping of consumer electronic devices—e.g., developing prototypes for GPS products; designing perfume bottles; designing washing machines and dishwasher exterior bodies, among others. Additionally, in the automotive industry, SLS technology has opened new avenues at each stage of production of motor vehicles, from the functional prototyping phases, design, and tooling production to parts manufacturing; the automotive industry is one of the pioneers in the adoption of 3D printing in its processes. Also, SLS equipment helps in creating highly personalized 3D printed medical devices, patient-specific surgical simulation, and direct printing of individualized implants and customized instrumentation. The scope of SLS printing in the healthcare industry includes medical products and dentistry.
APAC and North America are major markets for SLS equipment
In 2017, North America held the largest market share as a result of technological advancements and growing adoption of technology in a vast range of industries.The SLS equipment market in APAC is expected to grow at the highest CAGR during 2018–2023 driven by the increasing adoption of SLS equipment in several verticals, such as consumer goods, aerospace, automotive, healthcare, and jewelry.
The rising adoption of SLS equipment and materials would further boost the penetration of SLS equipment across APAC.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts.
The breakup of the profiles of primary participants is given below:
• By Company Type: Tier 1 = 50%, Tier 2 = 33%, and Tier 3 = 17%
• By Designation: C-Level Executives = 22%, Directors = 27%, and Others = 51%
• By Region: North America = 52%, APAC = 24%, Europe = 18%, and RoW = 6%
Key players profiled in this report are 3D Systems Corporation (US), EOS GmbH (Germany), Farsoon Technologies (China), Prodways Group (France), Formlabs, Inc. (US), Sinterit sp. z o.o. (Poland), Renishaw Plc. (UK), Sintratec AG (Switzerland), Sharebot S.r.l. (Italy), Natural Robotics (Spain), Ricoh Company, Ltd. (Tokyo), Z Rapid Tech (China), Concept Laser GmbH (Germany), Aerosint (Belgium), XYZ Printing, Inc. (Taiwan), Dynamic Tools (Spain), Aspect Inc (Japan), and Red Rock SLS (Russia).
Research Coverage
The report estimates the size and growth potential of the SLS equipment market across segments such as material, application, industry, and geography. Furthermore, the report includes market dynamics and the competitive analysis of the key players in the market, along with their company profiles and recent developments.
Key Benefits of Buying This Report
The report would help leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the SLS equipment market segments and subsegments.This report would help stakeholders better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies.
This report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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