United States 3D printing industry is expected to experience a healthy growth, driven mainly by the high government spending and various initiatives. The U.S. 3D printing market is anticipated to expand at a compound annual growth rate (CAGR) of 28% during the forecasted period of 2016-2020.
The U.S. 3D printing market is segmented into material such as metals, plastic/polymer and ceramics. Among these segments, plastics/polymer segment is expected to dominate the overall 3D printing market during the forecast period. Growing application of 3D printing in various sectors such as consumer products, healthcare, aerospace and defense and others is anticipated to fuel the growth of 3D printing market during the forecast period. However, metal segment is anticipated to flourish at highest CAGR during the forecast period.
U.S 3D Printing Market Forecast
U.S. 3D printing market is expected to flourish at a robust CAGR over the forecast period. Advantages such as improved quality, lighter part production and more design freedom are expected to drive the growth of 3D printing market. In addition, strong demand from education, defense, healthcare and consumer product industries is anticipated to bolster the growth of the market. Moreover, U.S. 3D printing market is expected to garner significant revenue by the end of 2024.
The big industrial 3D printer by product type grabbed major market share in 2016. Moreover, this segment is projected to witness highest CAGR over the forecast period. Increasing utilization of 3D Printers for prototype development, functional models and custom parts is expected to intensify the growth of big industrial 3D printer segment. Owing to high accuracy and better surface finish, use of 3D printers has increased in the past few years. This factor is also envisioned to bolster the growth of the big industrial 3D printer market.
Advantages over Traditional Printing
The market of 3D printing is expected to grow on the back its advantage and benefits as compared to traditional printing. Factors such as development of customized product, less time and speedy development, better quality and high design freedom are anticipated to propel the growth of 3D printing market during the forecast period. Further, the market is witnessing high investment in research and development which in turn, is believed to production speed of the 3D printers. These factors signal promising growth of U.S. 3D printing market during the forecast period.
Spiked Adoption by Various End Users
In the past, 3D printing has generated positive results for various industries through prototype development and concept designs. Moreover, automotive manufacturers are increasingly using 3D printing for prototyping rather than parts manufacturing. These factors are envisioned to bolster the growth of the 3D printing market.
Although, factors such as high cost of 3D printers and printing software are some of the major factors that are likely to hamper the growth of the 3D printing market in the near future.
Prominent Industry Players Influence the Market Growth
This report also provides the existing competitive scenario of some of the key players of the U.S. 3D printing market which includes company profiling of Stratasys, Ltd., ExOne, 3D Systems Corporation, Optomec Inc., AREVO Inc., Autodesk Inc., EOS of North America, Inc., EnvisionTEC Inc., HP Inc., Sciaky Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the U.S. 3D printing market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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