Market research company 6Wresearch announced the release of its latest report “India 3D Printer Market (2015-2021)” covering India 3D printer market by technology, application, end uses and region.
The report estimates and forecast market by technology such as Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Polyjet and Multi-Jet Modeling (MJM). The report also segregates market into different application i.e. Electronics and Consumer Goods, Automotive, Medical, Industrial, Aerospace & Military, Educational, Architectural and Others, and end uses include private, commercial and industrial.
According to the latest 3D Printer report, India 3D Printer Market is projected to cross $79 million by 2021. In India’s 3D printer market, automotive application accounted for majority of the revenue share. On the other contrary, educational and medical applications are witnessing higher growth.
Amongst all 3D printing technologies, FDM technology based 3D printers dominates the overall market. Low cost and ease of availability of these printers have led for their majority of the market revenues. In the industrial application, 3D printer market faces major challenge from CNC machines (used for modeling), which costs much less than 3D printers in India, thus increases reluctance among the consumers to opt for 3D printers. However, with the expected price decline, increasing market awareness, coupled with major transformation such as easier design capabilities, compatibility for mass production and manufacturing of large format object, India’s 3D printer market to witness healthy growth in the near future.
3D printer is the next-generation printing technology in additive manufacturing. 3D printing technology is in its nascent stage in majority of the countries across the globe. However, with the expiry of the key patents, low cost of production, increasing awareness and penetration, and advancements in material research, 3D printer market is expected to witness tremendous growth in the coming years.
India accounts for major potential growth for domestic manufacturers, local assemblers and distributors due to increasing use of rapid prototyping and 3D modeling across various industry sectors. Further, “Make in Campaign” which started in 2014 is anticipated to drive the future growth of the market. With government initiatives to boost domestic manufacturing, many local players are expected to emerge in the forecast period.
