Knowledge Sourcing Intelligence announces the latest and most exhaustive in-depth study on the 3D Printing Market covering the key trends along with drivers and restraints during the forecast period 2018 to 2024. According to the report titled "3D printing Market Forecasts From 2019 TO 2024", the market is expected to surge at a high annual growth rate of 27.59 percent to achieve a market size of US$39.640 billion by 2024 from US$9.190 billion in the base year 2018.The report has segmented the 3D printing market on the basis of Component, Technology, End-User, and Geography.
3D PRINTING MARKET BY COMPONENT
3D PRINTING MARKET BY TECHNOLOGY
Digital Light Processing
Continuous Digital Light Processing
Direct Energy Deposition
Powder Bed Fusion
Multi Jet Fusion
Selective Laser Sintering
Direct Metal Laser Sintering / Selective Laser Melting
Electron Beam Melting
3D PRINTING MARKET BY END-USER
Aerospace and Defence
3D PRINTING MARKET BY GEOGRAPHY
Middle East and Africa
Increasing application across various end-user industries will drive the growth of the 3D printing market during the forecast period.
The Development Department of the French luxury brand, Bugatti has for the first time designed and developed a brake caliper using 3D printing. Earlier the main metal used was aluminum, which has been replaced by titanium and it is the worlds largest functional component produced using the 3D printing process. Soon, the vehicle trials for this 3D titanium brake caliper will be produced in series. In the year 2017, the worlds first 3D printed concrete bridge was opened. It was a part of a new road around the village of Gemert, Netherlands and was developed at the Eindhoven University of Technology. The bridge is 8 meters long, 3.5 meters wide. It was tested by putting a load of 5 tons, a lot more than its actual calculated capacity. The bridge is the first civil infrastructure built using 3D concrete printing. Other applications of 3D printing include polymers which are safe, non-toxic and recyclable, 3D printed jewelry, and 3D printed pens.
North America is expected to hold a substantial market share in the global 3D printing market
North America is projected to hold the largest market share owing to the early adoption of technology, also, a large number of market players are based in this region, burgeoning the market growth during the forecast period. The growing healthcare industry in this region, with the highest health expenditure of the United States among all the industrialized countries of the world, is providing an opportunity for the market to grow at a significant rate during the forecast period. The North American region is a pioneer in automotive manufacturing in the world. The presence of the leading automotive manufacturers and automotive component manufacturers such as General Motors is contributing to the market growth owing to the use of 3D printing in the manufacturing of automotive components.
Some of the major players discussed in the reports are Stratasys, Ltd., The ExOne Company, Ultimaker BV, Xjet, and EnvisionTEC among others.
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