3D Printing Market is valued at 10.27 USD Billion in 2017and expected to reach USD 39.03Billion by 2024 with the CAGR of 21.01% over the forecast period.
3D printing is also called as additive manufacturing. It is the process of making three-dimensional solid object in a digital format. This process is achieved using additive processes. High printing speed and faster production, easy accessibility, good quality etc., are the benefits of 3D printing. The printing process varies by technology such as Stereo lithography, Fused Deposition modelling, Selective Laser Sintering, Selective Laser melting, Electron Beam melting, Laminated Object manufacturing, Digital Light processing and Others. So, during the study of Global 3D Printingmarket, we have considered 3D Printingproduct type and end user to analyze the market.
Global 3D Printing Market report is segmented on the basis of printer type,technology, material, application and by regional & country level. Based upon printer type, global 3D Printing Market is classified as Desktop 3D printer, Industrial 3D printer and Others.Based upon technology, global 3D Printing Market is classified as stereo lithography, fused deposition modelling, selective laser sintering, selective laser melting, electron beam melting, laminated object manufacturing, digital light processing and others. Polymers, Metals & Alloys, Ceramics and others are the material type segment of the 3D printing market. Based upon application, global 3D Printing Market is classified as Consumer Products, Automobiles, Aerospace, Healthcare, Defense, Architecture and Others.
The regions covered in this 3D Printing Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of 3D Printingis sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global 3D Printing Market Reports–
Global 3D Printingmarket report covers prominent players like Stratasys Ltd, 3D Systems Corporation, The Exone Company, Arcam Group, Materialise NV, Mcor Technologies Ltd, EOS GmbH, Organovo Holdings Inc, 3D Ceram, Carbon 3D, MX3D, SciakyInc, Voxeljet AG and Others.
Initiatives taken by Government of various countries through funding and investing in Research & Development
Increasing packaging industry and customization in product packaging is expected to drive the 3D printing market. Increasing affordability of the technology and the extensivedemand for individualization is set to transform the future of manufacturing.Less reduction of waste material for complex products is another factor driving the demand of 3D Printing. Initiatives taken by government in Research & Development is expected to promote the growth of 3D Printing market. The Australian government, in partnership with 3D printing bureau and reseller, Objective 3D, has announced USD 2 million (AUD) in funding for a new additive manufacturing (AM) virtual hub.Iterate Design, a UK based company has taken ideas from concept to reality, and has been awarded an Innovate UK grant worth £1 million to further develop its advanced 3D printing technology.There are various other factors driving the growth of the 3D Printing one of the majors driving the growth of the market are technological advancements promising gains in speed and flexibility due to its benefits.
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North America is Expected to Dominated the 3D Printings Market
North America dominates the market with highest market share due to the well-establishedtechnology development and infrastructurecoupled with high adoption of smart devices in the region are expected to support the growth of North America Market. Europe is expected to be the second largest growing region over the forecast period due to the early adoption of advanced technologies. Asia Pacific is the third largest and fastest growing region over the forecast period owing to the increased demand frompackaging industry and adoption of advance technology. Furthermore, increased awareness among people about its benefits and increase in government funding coupled with increasing disposable income are expected to fuel the growth of 3D Printing market over the forecast period.