3D Printing Industry in US will Grow at a CAGR of 29% and is Anticipated to Reach USD 17.2 Billion by 2020

“US 3D printing industry”
The US 3D printing industry is poised to experience astonishing growth in the future. A shift from designing prototypes to producing end-user products can be seen in various US industries. As a result, the US 3D printing industry is anticipated to touch USD 17.2 billion mark by 2020.

While defining the US 3D printing industry by segment, it is seen that printers sector will grow at highest CAGR of 29% through 2015-2020. Continuous falling prices of 3D printers would increase the installation numbers in households and small offices. In contrast, the maintenance segment will show the slowest growth rate from 2015-2020. The service and maintenance segment in 3D printing industry is anticipated to expand at a CAGR of 22% to reach USD 3.46 Billion over the next five years from 2015 to 2020. The reason for the slow growth can be attributed to decrease in 3D printer prices. It is expected that people would prefer buying new printers with advanced technology at a comparatively lower rate rather than getting them fixed for any technical issue.

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An expanded demand for 3D printing from aerospace is expected, especially from civil aircrafts and space-crafts which will in turn contribute in the growth of 3D printing industry. U.S. aerospace industry rose at a CAGR of 3% from 2011 to 2015, under which space craft showed highest growth 7% y-o-y, followed by civil aircrafts at 6% annually. The scientists in space research agencies are continuously looking for methods to develop parts that can be developed on-site in the space for any emergency repair. Additionally, in automobile and aerospace industry there is huge demand for equipment that can develop heavy-duty parts and accessories from light-weight material, in an inexpensive way and in no-time which further adds to the increasing demand for 3D printing industry.

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US 3D printing industry research report provides Opportunities in US 3D printing market in various fields such as Oil & Gas, Aerospace, Automotive and Healthcare.  Increasing Research and development expenditure, Increasing Government Support, Increasing Demand from Manufacturing & Healthcare and Mass customization are expected to be the major drivers which will drive the US 3D printing industry. Increased government initiatives for small and medium enterprises would further help in increasing exports to international geographies.

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US 3D Printing Industry is Segmented into 3 parts:
– By Products
– By Materials
– By Services

High Cost, Unavailability of Skilled Labor, Lack of Export assistance and Access to capital are some of the restraints in the growth of US 3D Printing Industry in coming years.

Keyplayers Analyzed in US 3D Printing Industry Research Report are:

– Stratasys

– Exone

– 3D Systems

– Optomec

Report Details:  

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