Industrial 3D Printing Market with COVID-19 Impact Analysis, by Offering, Application, Process, Technology, Industry and Geography - Global Forecast to 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Industrial 3D Printing Market with COVID-19 Impact Analysis, by Offering (Printers, Materials, Software, Services), Application, Process, Technology, Industry (Aerospace & Defense, Automotive) and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The industrial 3D printing market is expected to grow from USD 2.1 billion in 2021 and is projected to reach USD 5.2 billion by 2026; it is expected to grow at a CAGR of 20.0% during the forecast period.

As AM is industrializing, software are playing a significant role across all areas of the AM workflow. While design, CAD, and simulation have always been a necessity in the AM process, the manufacturing of industry-grade and lightweight parts requires software that can adequately cope with the specific needs of the process. There is also a growing demand for 3D printing services as it helps in reducing manufacturers' costs attributed to the reduction in person-hours and material loss from the conventional manufacturing process.

Market for industrial 3D printing services to have highest CAGR during the forecast period

The industrial 3D printing market for services is expected to grow at the highest CAGR during the forecast period. For many companies, 3D printing is unfeasible due to the high associated costs. Thus, 3D printing services are high in demand as they do not require high initial capital expenditure. Services such as consultation and shipping are also covered under 3D printing services.

Electron beam melting technology segment to have highest growth throughout the forecast period

The electron beam melting technology segment is expected to witness the highest growth during the forecast period. Electron beam melting technology has proven to be a cost-effective additive manufacturing (AM) solution in the manufacturing of orthopedic implants and parts used in the aerospace industry. The technology offers design freedom and stacking capabilities. EBM helps to build high-strength parts that make the most of the native properties of the metals used in the process, eliminating impurities that may accumulate when using casting metals or other fabrication methods. Although the market for EBM is relatively small due to the high costs of printers, it is witnessing high adoption for printing critical components for the aerospace & defense, petrochemical, automotive, and medical industries.

Market for healthcare industry to grow at highest CAGR during the forecast period

The industrial 3D printing market for the healthcare industry is expected to grow at the highest CAGR during the forecast period. 3D printing in healthcare is a fast-growing subsector. Due to decreased costs of 3D printers and increased availability of CAD/CAM medical software, many hospitals worldwide are acquiring 3D printers. New technological developments have enabled healthcare advances with 3D printing. For instance, customized 3D-printed surgical instruments such as scalpel handles, forceps, or clamps that reduce operating time and provide better surgical outcomes are manufactured from materials such as stainless steel, nylon, titanium alloys, and nickel. The advancements in 3D printing technology are expected to enable healthcare providers to offer a high degree of customized care.

Market in APAC to grow at highest CAGR during the forecast period

The industrial 3D printing market in APAC is expected to witness the fastest growth during the forecast period. This region is a lucrative market for industrial 3D printing, owing to industrial development and improving economic conditions. This region constitutes approximately 60% of the world's population, resulting in the high growth of various industries, such as automotive and healthcare. Global manufacturers having their presence in APAC in terms of manufacturing facilities, distribution systems, and sales offices are easing the supply of 3D printing components in this region. Establishing regional centers for industrial 3D printing training, research, and education in Asian countries is expected to provide skilled operators for 3D printing systems. These factors are expected to contribute to the regional market growth.

Market Dynamics

Drivers

• Increased Focus on High-Volume Production Using 3D Printing
• Advancements in 3D Printing Software
• Growing Demand for 3D Printing Services
• Development of Advanced 3D Printing Materials

Restraints

• High Capital Requirement for Additive Manufacturing
• Lack of Standardization

Opportunities

• Smart Manufacturing with Industry 4.0
• Increasing Investments in Core Printing Technologies and Specialized Software
• Positive Impact of COVID-19 on 3D Printing Market

Challenges

• Threat of Copyright Violation
• Adverse Impact of Large-Scale 3D Printing on Environment

Companies Mentioned

• Stratasys
• 3D Systems
• Materialise
• Eos
• GE Additive
• Exone
• Voxeljet
• Slm Solutions
• Envisiontec
• Hp
• Optomec
• Groupe Gorge
• Renishaw
• Hoganas
• Covestro
• Protolabs
• Sculpteo
• Ultimaker
• Beijing Tiertime Technology
• Desktop Metal
• Carbon
• Markforged
• Nano Dimension
• Evolve Additive Solutions
• Xyzprinting

For more information about this report visit https://www.researchandmarkets.com/r/ptom0m