3D Printing Market to Rise at an Accelerated Pace Exhibiting an Astounding CAGR of 25.8% Owing to Increasing Demand from the Automotive Sector, states Fortune Business Insights | Financial Buzz

3D Printing Market to Rise at an Accelerated Pace Exhibiting an Astounding CAGR of 25.8% Owing to Increasing Demand from the Automotive Sector, states Fortune Business Insights

Pune, July 09, 2020 (GLOBE NEWSWIRE) — The global 3D printing market size is expected to exhibit a stellar CAGR of 25.8% between 2019 and 2026. This is attributable to increasing demand from the automotive sector and advancement in technology across the globe. Fortune Business Insights, publishes this information in its latest report, titled “3D Printing Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Technology (Fused Deposition Modeling, Selective Laser Sintering, Stereolithography, Direct Metal Laser Sintering, PolyJet, Multi Jet Fusion (MJF), Others) By Applications (Prototyping, Production, Proof of Concept, and Others), By End-Use (Automotive, Aerospace and Defense, Healthcare, Others) and Regional Forecast, 2019-2026.” The report further mentions that the market was worth USD 8.58 billion in 2018 and is projected to reach USD 51.77 billion till 2026.

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3D printing, also known as additive manufacturing, is a type of process that produces three dimensional solid objects from a digital object. The objects are created by adopting additive processes that involve placing down successive layers of material until the printer creates the object. These layers are perceived as a thin horizontal cross-section of the desired object. The adoption of this type of advanced technology enables the companies to manufacture complex objects using a minimal amount of materials than the traditional manufacturing processes.

What does the Report Include?

The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. The report provides comprehensive research into the regional developments of the market, affecting the market growth. The report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. In addition to this, the competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026. 

DRIVING FACTORS

Increasing Demand from the Automotive Sector to Promote Growth

Technological advancement has gripped the automotive sector largely by opening up exciting opportunities for the manufacturers to innovate their designs. The adoption of 3D printing technology enables them to produce stronger, robust, and safer products. Furthermore, the manufacturers are adopting the technology to expedite manufacturing processes, build reliable prototypes, reduce operational costs, and improve flexibility. Increasing adoption of advanced technology to cater to the evolving demands of the consumers is expected to drive the global 3D printing market in the forthcoming years.

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REGIONAL INSIGHTS

Increasing Investment by Major Companies in North America to Bolster Growth

Among all regions, the market in North America is anticipated to witness exponential growth while holding the highest position in the global 3D printing market share during the forecast period. This is attributable to increasing investment by the companies in developing innovative technologies in the region. Additionally, rapid growth in industries such as automotive, healthcare, and aerospace that adopt 3D printing technology will bode well for market growth in the region. The market in Asia-Pacific will witness considerable growth during the projected horizon. This is ascribable to factors such as the growing demand for customized products and the adoption of modern technologies by the manufacturers in the region between 2019 and 2026.

COMPETITIVE LANDSCAPE

Fictiv Collaborates with Jabil to Strengthen Product Portfolio

In July 2020, Fictiv, a digital manufacturing services provider, announced that it is collaborating with Jabil Inc., a manufacturing solutions provider, to streamline its 3D printing prototyping by adopting a unique digital thread. The innovative digital thread is designed to streamline and de-risk the supply chain through transparency, quality, flexibility, and speed. Jean Olivieri, COO of Fictiv said, “With years of manufacturing experience, we are well aware of the move from an idea to the consumption of volume is difficult, although, the products have potential. Our collaborations with Jabil support the end-to-end product lifecycle that involves prototyping to production without involving any risk.”


List of the Leading Companies Operating in the 3D Printing Market are:

  • 3D Systems Inc.
  • Arcam EBM
  • Autodesk Inc.
  • Envisiontec Inc.
  • ExOne
  • Hoganas AB
  • Made in Space Inc.
  • Materialise
  • Optomec Inc.
  • Ponoko Inc.
  • Stratasys Ltd.
  • Voxeljet AG

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Detailed Table of Content

  1. Introduction
    1. Definition, By Segment
    2. Research Approach
    3. Sources
  2. Executive Summary
  3. Market Dynamics
    1. Drivers, Restraints and Opportunities
    2. Emerging Trends
  4. Key Insights
    1. Macro and Micro Economic Indicators
    2. Consolidated SWOT Analysis of Key Players
  5. Global 3D Printing Market Analysis, Insights and Forecast, 2015-2026
    1. Key Findings / Summary
    2. Market Size Estimates and Forecasts
      1. By Component (Value)
        1. Hardware
        2. Software
        3. Services
      2. By Technology (Value)
        1. Fused Deposition Modeling (FDM)
        2. Selective Laser Sintering (SLS)
        3. Stereolithography (SLA)
        4. Direct Metal Laser Sintering (DMLS/SLM)
        5. Polyjet
        6. Multi Jet Fusion (MJF)
        7. Direct Light Projection (DLP)
        8. Binder Jetting
        9. Electron Beam Melting (EBM)
        10. Continuous Liquid Interface Production (CLIP/CDLP)
        11. Selective Deposition Lamination (SDL)
        12. Laminated Object Manufacturing (LOM)
      3. By Application (Value)
        1. Prototyping
        2. Production
        3. Proof of Concept
        4. Others
      4. By End-User (Value)
        1. Automotive
        2. Aerospace and Defense
        3. Healthcare
        4. Architecture and Construction
        5. Consumer Products
        6. Education
        7. Others
      5. By Region (Value)
        1. North America
        2. Europe
        3. Asia Pacific
        4. Middle East and Africa
        5. Latin America

TOC Continued..!!!


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