3D Printers’ Demand to Grow 24% Annually Through 2021
According to the Research firm, Feedonia Group, there will be a 24% annual increase of 3D printers all over the world in order to reach $5.4 billion in 2021.
The reality is that as far as the 3D printing market is evolving, demand for 3D printers is also evolving region-by-region. One can expect a record growth in excess of 20% per year through 2021.
Specificities according to regions
It goes without saying that North America and Western Europe’s users will not use the same type of 3D printers than Asia/Pacific’s users. Indeed, developed region end users will increasingly shift to 3D printing for small-scale production applications, attracted by labor and material savings. In the Asia/Pacific region, particularly China, inexpensive desktop printers will record the most rapid growth, spurred by their low purchase price and extensive use in educational settings.
In 2016, 3D printer demand was $1.8 billion. Prototyping printers accounted for 70% of all 3D printer demand in value terms, followed by production printers with 24%. According to analyst Zoe Biller, “Despite their dominance of unit sales, desktop printers only represented 6% of the printing hardware market in value terms.”
The more people will adopt production and desktop printers, the more 3D printers’ demand will increase. 3D printing for prototyping applications is relatively mature in the industries where it is already most widespread – automotive, aerospace, consumer product design, and healthcare.
You could read the whole study here.