BURNABY, Canada, May 18, 2015 /PRNewswire/ --
Rising adoption across various industries, decrease in average selling prices, and government support to drive global 3D printers market through 2020
According to a recently published TechSci Research report "Global 3D PrintersMarket Forecast & Opportunities, 2020", global market for 3D printers is projected to grow at a CAGR of over 31% through 2020. Key reasons attributed to the growth of 3D printers globally include increasing adoption across diverse industry verticals, decrease in average selling prices and significant government aid in the form of favorable legislations, mainly in developed markets such as the US, Germany, and Italy. Region-wise, Asia-Pacific is emerging as a prominent market for 3D printers on account of tremendous growth opportunities in developing countries such as China and India.
3D printers are prominent across a wide array of industries including consumer electronics, automotive, healthcare, aerospace, education and defense. Few of the major applications of 3D printers in these industries include designing and manufacturing functional parts, prototyping, fitting & assembly, metal casting, etc. Moreover, decrease in average selling prices of 3D printers due to technological advancements is resulting in boosting adoption of 3D printers, globally. On account of growing adoption in manufacturing industries, the demand for 3D printers is continuously rising, simultaneously driving growth in global 3D printers market.
"Stereolithography, fused deposition modeling and laser sintering technologies are being vastly used for prototyping and designing direct parts, majorly in aerospace, defense, medical and automotive industries. In terms of process technology, vat photo polymerization and powder bed fusion based 3D printers, cumulatively captured majority share in global 3D printers market in 2014. This trend is expected to continue, with these two process technologies retaining their dominance in the market over the next five years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Global 3D PrintersMarket Forecast & Opportunities, 2020" has evaluated the future growth potential of 3D printers market across the globe, and provides statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in global 3D printers market.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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