Global 3D Printer Market 2018-2022
About 3D Printer
A 3D printer is a device used for making a three-dimensional digital model (CAD representation) into a physical object, which is typically done by laying down many successive thin layers of a material.
Technavio’s analysts forecast the global 3D printer market to grow at a CAGR of 36.54% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global 3D printer market for 2018-2022. To calculate the market size, the report considers the revenue generated from the 3D printers that are used for 3D printing.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global 3D Printer Market 2018-2022
Technavio recognizes the following companies as the key players in the global 3D printer market: Stratasys, 3D Systems, SLM Solutions, EOS, XYZprinting, Ultimaker, and Formlabs
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing demand for new materials. The declining prices of 3D printers are leading to the wider adoption of 3D printers. This is fueling the demand for 3D materials. Materials such as plastics, metals, and ceramics are the key products used in the 3D printing technology. Plastics are the most commonly used printing materials as they are cheaper compared with other materials such as metals. However, the demand for new materials has been increased as larger companies are rapidly investing in innovating materials.”
According to the report, one of the major drivers for this market is Increase in the consumer interest for 3D customized products. Customization is a process of creating or altering the product according to the needs and requirements of the customer. Consumers have shown a great deal of interest in customized 3D products either by ordering the product from the companies that provide customized products or by purchasing a desktop 3D printer, which will help them in designing and developing the 3D printed products in-house.
Further, the report states that one of the major factors hindering the growth of this market isHigh cost of training the workforce. A workforce is a group of people who are engaged in work to perform a certain task given by the company. The training for additive manufacturing is necessary at various levels such as designers, manufacturers, and consumers. Firstly, the basic training on 3D printers and the types of technologies. Then, providing the technical training, which helps the workforce understand the depth of technologies and help decision makers to understand the ways of utilizing additive manufacturing. One of the main advantages of using additive manufacturing is the enhancement of the supply chain.
Stratasys, 3D Systems, SLM Solutions, EOS, XYZprinting, Ultimaker, and Formlabs