According to a new market report published by Industry Probe, titled ‘3D Printing 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 Printing 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.
Read Full Report @ https://www.industryprobe.com/report-desc-overview.php?id=MjIx&name=3D-Printer-Market
3D Printing Market are featured in this report to give a better competitive analysis of the market and these include Stratasys Ltd., 3D Systems Corporation, HP Development Company, L.P, EOS, Seiko Epson Corporation, Envisiontec GMBH, SLM Solutions Group AG, Ultimaker BV, General Electric and Kinpo Group
The report anticipates in terms of technology, the fused deposition modeling 3D printer technology is projected to dominate the 3D Printing Market globally during the forecast period, due to its cost benefits and consistent and high printing quality. FDM can create superior thermal stability and chemical resistance, as well as a good strength-to-weight ratio. If required, support structures can be generated. The machine technology can use multiple materials to achieve different goals. The 3D Printing Market is projected to grow at rapid CAGR during forecast period, owing to the growing adoption of industrial 3D printer in automotive, aerospace, aviation, military, healthcare, and electronics sectors. The industrial 3D printing technique is rapidly evolving towards broad integration and acceptance into the global manufacturing environment, says Industry Probe analysts.
As per the report, the major factor driving the growth of the 3D Printing Market is the increasing demand from various fields such as aerospace & defense, and automotive. Additionally, the development of technologically advanced and compact metal 3D printers is another factor driving the 3D Printing Market growth. There is presence of several automotive original equipment manufacturers in Europe, which are anticipated to invest in broad scale implementation of 3D printing for R&D application and design formulation. Top automotive leaders such as Volkswagen, Land Rover, Jaguar, Audi, Mercedes, BMW and numerous others are adopting for the 3D technology and printers in the European market, which in turn would drive the 3D Printing Market.
Based on various technologies, there are different 3D printers available in the global market. Fused deposition modeling, Stereolithography, selective laser sintering, and material jetting are some of the commonly used 3D printing technologies in the world. FDM 3D printers account for a major share of 40.9% of 3D Printing Market. FDM is affordable and accessible 3D printing technology, which makes it perfect for beginners to 3D printing. Additionally, FDM is also used in various industrial applications such as automotive, healthcare, and aerospace. Furthermore, well-known companies such as Nestle, Hyundai, and BMW are known for using FDM 3D printing technology in their processes.
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