Global 3D Printing Market to Grow at Tremendous Double-Digit CAGR to 2023, Expects M&M in Its New Report Recently Uploaded at MarketPublishers.com
21 Jul 2017 • by Natalie Aster
LONDON – From 2017 up to 2023, the worldwide market for 3D printing is projected to grow at a tremendous CAGR of 25.76%. By 2023, this market is anticipated to surpass USD 32.7 billion in value terms. Some of the major growth driving forces of the 3D printing market include, amid others, lower overall manufacturing costs, ease of development of customised products, and remarkable governmental support. Other important market growth drivers include the introduction of novel, innovative printing materials, strong demand from the end-use industries (medical, automotive, aerospace, healthcare, education, consumer goods, etc.), uptake in the 3D services sector and surging investments from some large companies (for instance, BAE Systems, GE, Diehl Aerosystems and Liebherr Group). However, the 3D printing market also faces certain challenges, for instance, lack of standard process control, limitation of size and high cost of materials.
In the previous year, industrial printers accounted for the biggest chunk of the overall 3D printing market. This trend is likely to continue through 2023.
North America is poised to remain the unrivalled leader in the world’s 3D printing market through 2023.
The new research publication “3D Printing Market by Offering, Process, Application, Vertical, and Geography - Global Forecast to 2023” prepared by MarketsandMarkets (M&M) offers an all-round analysis of the market landscape and dynamics, and investigates the current scenario and historical background of the key geographical markets. Besides, the research report offers access to top level qualitative and quantitative market data, discusses the prevailing trends, examines the major growth propelling and limiting factors, points out the major growth threats and prospects. Furthermore, this report touches upon the main competitive pressures, identifies and profiles the top market participants and gives access to future forecasts through 2023.
For other new and in-demand research reports by the publisher visit the MarketsandMarkets page at MarketPublishers.com.