The industrial 3D printing market is projected to grow from USD 2.1 billion in 2021 to USD 5.2 billion by 2026; it is expected to grow at a CAGR of 20.0% from 2021 to 2026. Increased focus on high-volume production using metal 3D printing, growth in the usage of 3D printing software and services, and development of advanced 3D printing materials are expected to be the major drivers for the growth of the industrial 3D printing market.
The industrial 3D printing market is a growing market, and is competitive among the players within the market. Key strategies adopted by top players to enhance their product portfolios, increase their market share and expand their presence in the market mainly include new product launches and deals. For instance, In November 2021, GE Additive (US) launched its Amp cloud-based process management software platform that has two modules: Print Model and Simulation & Compensation. In October 2021, Stratasys (US/Israel) announced that it has acquired all the shares of Xaar 3D from Xaar plc, accelerating the company’s growth in production-scale 3D printing. In September 2021, 3D Systems (US) signed an agreement to acquire Oqton, a software company that is a leader in creating a new breed of intelligent, cloud-based Manufacturing Operating System (MOS) platform. With the acquisition of Oqton and the commitment to continue its focus on transforming and optimizing digital manufacturing systems, 3D Systems will also increase the availability of the software platform to the additive manufacturing industry, as well as its customers.
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Stratasys was formed through the merger of Stratasys and Objet, a leading additive manufacturing company, in 2012. During the merger, Stratasys became an indirect, wholly owned subsidiary of Objet, and, subsequently, Objet changed its name to Stratasys. Stratasys is one of the leading players in the industrial 3D printing market. The company operates with dual headquarters: Rehovot, Israel, and Minnesota, US, and conducts its business through 2 segments, namely, Products and Services, which are related to 3D printing. 3D printers are marketed under 3 product categories: Design Series, Production Series, and Dental Series. Stratasys offers products ranging from entry-level desktop 3D printers to rapid prototyping (RP) and large production systems for direct digital manufacturing (DDM). The company also offers printing materials and accessories for use in printing systems, along with related service offerings. It is a global provider of additive technology solutions for industries such as aerospace, automotive, consumer products, healthcare, and education. It also develops, manufactures, and markets materials for 3D plastic printing, as well as offers associated services. Stratasys operates with 13 offices located globally across the Americas, Europe, and Asia Pacific. The company also has a few authorized partner subsidiaries, including Objective3D (Australia) and MakerBot Industries (US).
3D Systems designs, manufactures, and markets 3D printing solutions. The company operates through 2 business segments: Products and Services, which provide advanced and comprehensive 3D printing solutions, including products, materials, and related services. The company offers a wide range of 3D printers that utilize its proprietary printing materials, including plastic, nylon, metal, composite, elastomeric, wax, polymeric dental materials, and Class IV biocompatible materials. Accura, DuraForm, LaserForm, CastForm, LaserForm, and VisiJet are a few notable 3D printing material brands of 3D Systems. The company also offers 3D virtual reality simulators and simulator modules for medical applications. The company’s service portfolio comprises warranty, maintenance, and training services; on-demand solutions; software services, including software licensing and maintenance; and healthcare services. These products and services of the company are used in various industries, such as aerospace & defense, automotive, healthcare, dental, teaching & training, and durable goods. 3D Systems manufactures printing materials at its facilities, as well as procures them from third parties. The company operates in more than 68 countries globally through its authorized partner network.
Industrial 3D Printing Market with COVID-19 Impact Analysis, by Offering (Printers, Materials, Software, Services), Application, Process, Technology, Industry (Aerospace & Defense, Automotive) and Geography - Global Forecast to 2026
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