According to a newmarket report published by Industry Probe, titled ‘3D Printer Market (Technology:Stereolithography, Fused Deposition Modeling, Selective Laser Melting ,Material Jetting, Electron Beam Melting, Selective Laser Sintering, and Binder Jetting; Substrate: Plastic, Metal, Ceramics, Wax, Paper, and Sandstone; and End Use Application: Personal Use and Industrial (Automotive, Aerospace,Healthcare, Electronics, Consumer Products, and Others)) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027’ the 3D Printer Market was valued at US$ 2,550.2 Million in 2018 and is expected to expand at a CAGR of 10% from 2020 to 2027.
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3D Printer Market are featured in this report to give a better competitiveanalysis of the market and these include Stratasys Ltd., 3D SystemsCorporation, HP Development Company, L.P, EOS, Seiko Epson Corporation,Envisiontec GMBH, SLM Solutions Group AG, Ultimaker BV, General Electric andKinpo Group
The reportanticipates in terms of technology, the fuseddeposition modeling 3D printer technology is projected to dominate the 3DPrinter Market globally during the forecast period, due to its cost benefitsand consistent and high printing quality. FDM can create superior thermalstability and chemical resistance, as well as a good strength-to-weight ratio.If required, support structures can be generated. The machine technology canuse multiple materials to achieve different goals. The 3D Printer Market isprojected to grow at rapid CAGR during forecast period, owing to the growingadoption of industrial 3D printer in automotive, aerospace, aviation, military,healthcare, and electronics sectors. The industrial 3D printing technique israpidly evolving towards broad integration and acceptance into the globalmanufacturing environment, says Industry Probe analysts.
As per the report, the major factor driving the growth of the 3D PrinterMarket is the increasing demand from various fields such as aerospace & defense,and automotive. Additionally, the development of technologically advanced andcompact metal 3D printers is another factor driving the 3D Printer Market growth.There is presence of several automotive original equipment manufacturers inEurope, which are anticipated to invest in broad scale implementation of 3Dprinting for R&D application and design formulation. Top automotive leaderssuch as Volkswagen, Land Rover, Jaguar,Audi, Mercedes, BMW and numerousothers are adopting for the 3D technology and printers in the European market,which in turn would drive the 3D Printer Market.
Based on various technologies, there are different 3D printers availablein the global market. Fused deposition modeling, Stereolithography, selectivelaser sintering, and material jetting are some of the commonly used 3D printingtechnologies in the world. FDM 3D printers account for a major share of 40.9%of 3D Printer Market. FDM is affordable and accessible 3D printing technology,which makes it perfect for beginners to 3D printing. Additionally, FDM is alsoused in various industrial applications such as automotive, healthcare, andaerospace. Furthermore, well-known companies such as Nestle, Hyundai, and BMWare known for using FDM 3D printing technology in their processes.
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