3D printer rides on the wave of technology innovation in additive manufacturing. The market has made significant strides in the developed countries like the U.S. and is expected to witness tremendous growth in the near future due to expiry of patents, low cost of production, increasing awareness & penetration, growth of 3D scanners and advancement of material research.
Presently, India 3D printer market is at nascent stage but holds tremendous potential for the manufacturers, local assemblers and distributors due to increasing use of rapid prototyping and 3D modeling across various industry sectors. Adding to the above factors, the location of research and development bases of various industrial and engineering companies fuels the existing growth of 3D printer market in India.
However the opportunity doesn’t come without its cost. India, being price sensitive nation, is at evolving stage and yet to see the rapid adoption rate. Indian consumers follow the conventional approach where the modeling is still done through CNC machines which costs less than 3D printer in India thus raises reluctance among the players to go for 3D machines. For the market to see increasing penetration, it requires major transformation such as easier design capabilities, compatibility for mass production and manufacturing of large format objects.
Presently, the market of 3D printers can be segmented by various applications. Led by electronics vertical (volume share of 24.1%), the market is closely followed by automotive (21.2%). Others include medical (15.0%), industrial (13.8%), aerospace (10.8%), architectural (5.2%), and educational (3.0%). The market of 3D printers is expected to reach $46mn by the year 2019.
3D printer market offers tremendous potential in the commercial segment such as healthcare sector, architecture, educational, art & craft. Other niche applications include special purpose applications, use in organ replacement, extent of customization, animation & gaming fashion & apparels customized footwear designs, interior decoration, furniture modeling, educational models, chocolate and drug printing.
Globally established players, such as Stratasys 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 Fabbster, 3D Systems, Leapfrog and Flashforge.
Major players active in India 3D printing market (including manufacturers and distributors) space are Altem Technologies, Imaginarium, Brahma 3, KCbots, and JGroup Robotics.
Globally established companies such as Stratasys and Optomec have partnered with Indian based technology companies for increasing their customer base. Other established global players in 3D printing industry include EOS GmbH, Ultimaker, Object, 3Digiprints, Arcam AB, Exone, and Voxeljet.
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India 3D Printer Market (2014–2019)