Make in India Campaign and Emergence of Domestic Players to Boost India 3D Printer Market; Market to Reach $79 Million by 2021 – 6Wresearch
6Wresearch announces the release of most anticipated “India 3D Printer Market (2015-2021)” report covering India 3D printer market by technology, application, end uses and region. The report estimates and forecast market by technology such as Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Polyjet and Multi-Jet Modeling (MJM). The report also segregates market into different application i.e. Electronics & Consumer Goods, Automotive, Medical, Industrial, Aerospace & Military, Educational, Architectural & Others, and end uses include private, commercial and industrial.
3D printer is the next-generation printing technology in additive manufacturing. 3D printing technology is in its nascent stage in majority of the countries across the globe. However, with the expiry of the key patents, low cost of production, increasing awareness & penetration, and advancements in material research, 3D printer market is expected to witness tremendous growth in the coming years.
In India, 3D printer market is one of the emerging markets, where demand is primarily exhibited from Tier-I cities. India accounts for major potential growth for domestic manufacturers, local assemblers and distributors due to increasing use of rapid prototyping and 3D modeling across various industry sectors. Further, “Make in Campaign” which started in 2014 is anticipated to drive the future growth of the market.
According to 6Wresearch, India 3D Printer Market is projected to cross $79 million by 2021. In India’s 3D printer market, automotive application accounted for majority of the revenue share. On the other contrary, educational and medical applications are witnessing higher growth. Other niche applications include arts and crafts, interior decoration, fashion accessories, footwear designs, jewelry designs, animation & gaming, customized footwear designs, furniture and modeling.
India primarily imports 3D printers in the country from countries such as China, U.S. and Germany. However, with government initiatives to boost domestic manufacturing, many local players are expected to emerge in the forecast period.
Amongst all 3D printing technologies, FDM technology based 3D printers dominates the overall market. Low cost and ease of availability of these printers have led for their majority of the market revenues. In the industrial application, 3D printer market faces major challenge from CNC machines (used for modeling), which costs much less than 3D printers in India, thus increases reluctance among the consumers to opt for 3D printers. However, with the expected price decline, increasing market awareness, coupled with major transformation such as easier design capabilities, compatibility for mass production and manufacturing of large format object, India’s 3D printer market to witness healthy growth in the near future.
Globally established players, such as Stratasys, 3D Systems and Optomec, are gradually making their footprints in India, through partnerships and alliances with India based technology firms. Other major global players in 3D printing market include Sintermask (Fabbster), 3D Systems, Leapfrog and Flashforge.
Major players active in India 3D printing market (including manufacturers and distributors) include Altem Technologies, Brahma 3, DesignTech Systems Ltd., Imaginarium, JGroup Robotics, KCbots and REDD Robotics (3Ding).
“India 3D Printer Market (2015–2021)” provides in-depth analysis with 92 figures and 17 tablescovered in 146 pages. The report also gives the insights on competitive landscape, market share by companies, company profiles, market drivers and restraints.