The industrial 3D printing market is expected to grow from US$4.258 billion in 2025 to US$13.409 billion in 2030, at a CAGR of 25.79%.
Manufacturing products using 3D printing, also referred to as additive printing, is a technique that represents numerous opportunities for the creation, design, and application of new architectural forms, building systems, and materials. The technique is a fresh, quick, and agile approach to product creation and manufacturing.
According to the Indian Economic Survey 2022-23, the statistics for the first half of FY23, the industrial sector's overall Gross Value Added (GVA) increased to 3.7%, surpassing the 2.8% average growth witnessed in H1 of the previous ten years.
The development of newer and more complex fused deposition modeling techniques has boosted the widespread adoption of this technology across numerous sectors in recent years. Furthermore, 3D printing technology has become the most effective means to develop lightweight components, which saves considerable amounts of fuel. For example, the Pro VC70000e is the most recent version of the Pro VC70000 line, and it offers numerous improvements to print quality and efficiency, including RICOH Supervisor's business intelligence features as well as the advantages of artificial intelligence (AI) and machine learning (ML).
For instance, in February 2022, the Minister of IT along with Union IT Minister launched a national strategy to promote collaboration between government and industrial sectors to boost 3D printing in industrial operations thereby making India a hub for deployment and development of 3D printing.
The industrial 3D printing market is segmented into stereolithography, fused deposition modelling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, laser metal deposition and others, based on technology. Stereolithography uses a UV laser to cure liquid resin layer by layer to create a 3D object. It is commonly used in the dental, medical, and automotive industries. Laser metal deposition (LMD) is an industrial 3D printing technology that uses a high-powered laser to melt and fuse metal powder onto an existing surface to create a 3D object. This technology is commonly used for repairing and manufacturing metal parts, particularly in industries such as aerospace, automotive, and medical.
The regional market is expected to grow due to the growing product development & launches of industrial-grade 3D printers coupled with the favorable government initiatives to promote 3D printing in industrial sectors. The bolstering growth in major end users such as the automotive sector has also provided further growth opportunities. Countries like India is experiencing a significant increase in its industrial productivity with major sectors such as automotive and manufacturing showing significant growth owing to the favorable investments establishment of manufacturing facilities and the surge in end-user demand. For instance, according to the data provided by the International Organization of Motor Vehicle Manufacturers, India’s automotive production in 2022 stood at 5.45 million units which represented a significant increase of 24% over 2021’s production volume. 3D printing is used for automotive parts manufacturing and with growing automotive production the demand for such technology to improve parts quality is also expected to increase.
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