Global Metal 3D Printer Market Outlook
Global Metal 3D Printer Market Outlook
The global metal 3D printer market is estimated to value US$0.8 billion in 2017 and is projected to register a CAGR of 24.7 percent in terms of value over the forecast period till 2026, according to a report by Market Research.
3D printing is a method of making three dimensional hard substances from a digital file. It is the process of laying down successive layers of material until the object is shaped in the desired form, in an additive manner. Each layer can be seen as a thinly sliced flat cross-section of the eventual object and it is an extremely high-precision manufacturing procedure.
Metal 3D printing offers various advantages over conventional manufacturing processes. With metal 3D printers, a range of products with varying designs can be printed and less materials are used which eliminates waste. Industries like aerospace, automotive, construction, medical device and consumer electronics are increasingly using this technology to produce components and parts. 3D metal printing provides aerospace and automotive industries with lightweight components which increases fuel efficiency and enable customisation in medical device manufacturing. Furthermore, Asia-Pacific is forecasted to be the fastest growing market for 3D printing metal due to rapid industrialisation and economic growth which drives the automotive, medical device, aerospace and defense industries. All these factors contribute to the rising popularity of metal 3D printers.
Key Players in the market include EOS GmbH, General Electric Company, SLM Solutions Group AG, 3D Systems Corporation, Arcam AB, Renishaw plc., DMG MORI AKTIENGESELLSCHAFT, The ExOne Company, Wuhan Binhu Mechanical & Electrical Company Limited, Xi’an Bright Laser Technologies Co Ltd (BLT), Wuhan Huake 3D Technology Co Ltd, Optomec Inc.
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