Demand for 3D printers will rise as a growing variety of industries adopt the technology.
New York, NY (PRWEB) February 14, 2014
The 3D Printer Manufacturing industry has leaped ahead in recent years, driven by rapid technological developments, falling costs and new applications for 3D printing technology. Over the five years to 2014, revenue is expected to grow at an average annual rate of 22.8% to total $1.4 billion. According to IBISWorld Industry Analyst James Crompton, “While industry revenue decreased 10.5% in 2009 due to recession related declines in demand, it bounced back in 2010 with 18.2% growth as downstream markets recovered.” In 2014, revenue is expected to grow an additional 19.2%.
3D printers are increasingly being used in medical device manufacturing to create customized medical devices, such as medical devices that more accurately replicate the human form. These products include hearing aids, orthopedic implants and dental implants; moreover, future applications such as 3D-printed organs and blood vessels are in development. Historically, architecture, design, engineering and construction industries have had to create models by hand or use older subtractive manufacturing techniques. 3D printers are capable of converting designs into 3D models almost instantaneously. As a result, they have grown in popularity within this field. Aerospace manufacturers comprise another market that has the potential for strong future growth for 3D printer manufacturers, as the aircraft industry's continual desire to reduce the weight of their aircraft in order to improve fuel efficiency will drive demand for 3D-printed products.
The price for most commercial 3D printers typically begins at about $15,000 and quickly rises upward and out of the price range of the average consumer. However, a number of enterprising startups, in addition to commercial 3D printer manufacturers, have focused on developing low-cost 3D printers for home use among hobbyist consumers. “As the price of 3D printers falls, a growing number of hobbyists are anticipated to purchase them,” says Crompton. Over the five years to 2019, industry demand and revenue are forecast to surge forward as 3D printers increase in popularity and more customers from a wide array of industries use 3D printing.
For more information, visit IBISWorld’s 3D Printer Manufacturing in the US industry report page.
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IBISWorld industry Report Key Topics
The 3D Printer Manufacturing industry manufactures 3D printers. 3D printing is a form of additive manufacturing technology where a three-dimensional object is created by laying down successive layers of material. 3D printers offer product developers the ability to print parts and assemblies made of several materials with different mechanical and physical properties in a single build process.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
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