Industrial 3D Printing Market with COVID-19 Impact Analysis - MarketsandMarkets

Posted by Steve Stark on January 13th, 2021

The industrial 3D printing market is projected to grow from USD 2.0 billion in 2020 to USD 5.3 billion by 2025, at a CAGR 20.9% between 2020 and 2025. Factors such as huge investments in 3D printing by start-ups companies, increased focus on high-volume production using 3D printing, high demand for 3D printing software to produce industry-grade parts, and ease in development of customized products, significant demand for online 3D printing are driving the growth of the industrial 3D printing market.

Factors that will drive the post-COVID-19 industrial 3D printing market growth include the growing need for 3D printing to provide aid to the disrupted supply chain, a step taken by companies to produce a range of products in a shorter time. For the long-term benefit, companies are moving toward creating a digital inventory. For this, companies will have to start adopting new strategies, making radical changes to ensure that they are not in a situation similar to what they are currently facing due to a possible future pandemic/disaster. As such, industrial 3D printing forms an integral part of digitization plans in organizations, which will now fastrack in the coming years to regain momentum.

North America is projected to hold the largest size of the industrial 3D printing market during the forecast period.

North America held the largest share of the industrial 3D printing market in 2019due to technological advancements and the high adoption of technology in a vast range of industries. The industrial 3D printing market in APAC is expected to grow at the highest CAGR from 2020 to 2025, driven by the increasing adoption of 3D printers and materials in several sectors, such as printed electronics, healthcare, energy, and jewelry, in this region. The market in Europe is expected to grow at a significant rate during the forecast period owing to the increasing demand for 3D printing from the automotive and aerospace & defense industries.

Download PDF Brochure:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=160028620

Key Market Players

Stratasys (Israel/US), 3D Systems (US), Materialise (Belgium), EOS (Germany), GE Additive (US), ExOne (US), voxeljet (Germany), SLM Solutions (Germany), EnvisionTEC (Germany), and HP (US) are some of the key players in the industrial 3D printing market.