Market Forecast By Type (Personal Printer, Industrial Printer), By End Use Industry (Automobile, Consumer Electronics, Medical, Aerospace, Defense, Education, Others (Direct Energy Decomposition, Sheet Lamination)) And Competitive Landscape
|Product Code: ETC000236||Publication Date: Aug 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 70||No. of Figures: 35||No. of Tables: 5|
India 3D Printer Market attained a growth of 94.89% in value shipments in 2022 in comparision to 2021 and a reduction of -7.39% CAGR in 2022 over a period of 2017. In 3D Printer Market, the nation is becoming less competitive as the HHI index in 2022 was 2476 while in 2017 it was 1572. Herfindahl Index measures the level of competition among exporting countries. The range lies from 0 to 10000, where a lower index number indicatess a larger number of players or exporting nations in the market while a large index number means fewer numbers of players or countries exporting in the industry. India has reportedly relied more on imports in order to fulfill its expanding demand in 3D Printer Market.
India is shifting towards local production with the purpose to meet its demand as we can see the trend is shifting towards reducing imports. in 2022, the import factor of the market was 9.22 while it was 10.46 in 2017. Germany, China, Italy, Other Asia, USA, and Others are among the prominent companies in the market in 2022, where Germany gained the maximum market share of 34.74% with a shipment value of 21.58 million USD in 2022. Ge3rmany also offered the product above the average market rate, but it remained in the leadership position which shows the trust the nation holds in the 3D Printer Market. Italy, in 2017, obtained a major market share of 23.86% with a shipment value of 12.06 million USD. The nation was offering its product with an average price that is more than the average market price offered in the nation. Italy offers its product above the market average price, it remained at the leadership position, which is indicating the brand value it holds in the India 3D Printer Market in 2017.
India 3D Printer Market report thoroughly covers the market type and end-use industry. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
India 3D Printer Market has been accomplishing growth and it is predicted to attain more success during the forecast period. There are numerous factors supporting the market progression and these factors include growth in demand for custom-designed products across many industries, the country’s push towards digitalization and innovation, and the decrease in the cost of 3D printers. The market has been propelling significantly in the country.
According to 6Wresearch, the India 3D Printer Market size is estimated to grow at a tremendous growth rate during 2023–2029. There is no wonder that 3D printing not just in India but across the world revolutionized many industries. India is effectively embracing 3D printing with its rising manufacturing sector and booming economy. The market in the country is experiencing crucial growth and a number of factors have a key role to play in the success of this market. One of the key factors encouraging the market progression is the rising demand for custom-designed products in a number of sectors. Companies are identifying the value of personalized solutions that can be generated via 3D printing technology. The country is pushing towards digitalization and innovation is significantly supporting the India 3D Printer Market Growth. “Make in India”, is the initiative taken by the nation’s government that aims in inspiring domestic manufacturing as well as research and development activities, and this in return is producing a favorable environment for the increase of the 3D printer market.
Growing environmental concerns in the country have also contributed to stimulating the adoption of 3D printers in India. Apart from these growth drivers, the market is facing certain challenges that are hampering its growth. The high cost associated with 3D printers and the material used for them is the one major challenge of the market. The lack of skilled professionals in this space is also hampering the progression of the sector. In the market, there is a shortage of professionals that are trained and it can become the reason for the market failure. The players operating in the market have been working in order to come out of these challenges. The 3D Printer Market in India will come out as one of the most crucial markets in the country in the years to come since it has the potential to overcome these challenges.
The coronavirus pandemic had a mixed impact on the market for 3D printing in India as it presented both challenges as well as opportunities. The 3D printing industry experienced disruptions in supply chains owing to the restrictions on movements and trade and this resulted in delays in delivery of components and raw materials required for manufacturing. However, apart from these challenges, the outbreak of the pandemic also provided an opportunity for growth in some areas. There was a rise in demand for medical equipment like ventilators and personal protective equipment (PPE) and due to this, there was a surge in demand for 3D printers during the pandemic. A number of companies in the country rapidly shifted their focus towards developing critical medical supplies using 3D printers.
A number of companies have been operating in this market but the market is only dominated by a few players. One key player in the market is Stratasys Ltd., this player is well-known for a wide range of industrial-grade 3D printers and cutting-edge technology. With a strong presence in the country, they offer many solutions across many industries like aerospace, education, healthcare, automotive, and more. HP Inc. is another vital player in the market. This player has made significant strides in the 3D printing domain by introducing advanced technologies. Wipro 3D is also a prominent player in this space. It is an Indian company and it is specialized in metal additive manufacturing solutions. Wipro focuses more on developing complex designs using metals such as aluminum, titanium, stainless steel, alloys, etc.
The India 3D Printer Market is rising at a healthy rate and it is likely to obtain significant growth in the near future. The growth of the market is attributed to the rising adoption of 3D printing technology across many industrial sectors like healthcare and biomedical applications, consumer goods production, automotive and aerospace manufacturing, apparel and fashion accessories industry. In addition, the initiatives taken by the Indian government for promoting advanced technologies like 3D printing are anticipated to expand the prospects for this industry in the nation in the years to come. 3D printing offers cost as well as time-efficient solutions, especially in low-volume and prototyping production and this has led to a rise in adoption of 3D printing in a number of sectors. More businesses as well as individuals are discovering the potential of 3D printers since awareness about 3D printing is growing. Consumers in the country look for personalized products, that can be effectively attained via 3D printing. The growing demand for customization has stimulated the growth of 3D printers in the consumer goods industry. The healthcare sector has seen major progression in 3D printing applications. 3D printing in the country has revolutionized patient care from medical implants to customer surgical tools as well as anatomical models.
According to Dhaval, Research Manager, 6Wresearch, industrial printers dominated the market owing to the ease of development of customized products, and the decrease in process downtime and manufacturing cost. The same segment will continue to dominate this market in the years to come.
On the basis of end-use, the market is classified into Automobile, Consumer Electronics, Medical, Aerospace, Defense, Education, and Others. The automobile segment dominated the sector and it will continue to retain its dominance in the future owing to the easy customization, light-weighted components, and logistics support.
The report offers a comprehensive study of the subsequent market segments:
|1 Executive Summary|
|2.1 Key Highlights of the Report|
|2.2 Report Description|
|2.3 Market Scope & Segmentation|
|2.4 Research Methodology|
|3 India 3D Printer Market Overview|
|3.1 India 3D Printer Market Revenues & Volume, 2019 - 2029F|
|3.2 India 3D Printer Market - Industry Life Cycle|
|3.3 India 3D Printer Market - Porter's Five Forces|
|3.4 ndia 3D Printer Market Revenues & Volume Share, By Type, 2022 & 2029F|
|3.5 India 3D Printer Market Revenues & Volume Share, By End Use Industry, 2022 & 2029F|
|4 India 3D Printer Market Dynamics|
|4.1 Impact Analysis|
|4.2 Market Drivers|
|4.3 Market Restraints|
|5 India 3D Printer Market Trends|
|6. India 3D Printer Market, By Type|
|6.1 India 3D Printer Market Revenues & Volume, Personal Printer, 2019 - 2029F|
|6.2 India 3D Printer Market Revenues & Volume, Industrial Printer, 2019- 2029F|
|7 India 3D Printer Market, By End Use Industry|
|7.1 India 3D Printer Market Revenues & Volume, By Automobile, 2019 - 2029F|
|7.2 India 3D Printer Market Revenues & Volume, By Consumer Electronics, 2019 - 2029F|
|7.2 India 3D Printer Market Revenues & Volume, By Medical, 2019 - 2029F|
|7.2 India 3D Printer Market Revenues & Volume, By Aerospace, 2019 - 2029F|
|7.2 India 3D Printer Market Revenues & Volume, By Defense, 2019 - 2029F|
|7.2 India 3D Printer Market Revenues & Volume, By Education, 2019 - 2029F|
|7.2 India 3D Printer Market Revenues & Volume, By Others, 2019 - 2029F|
|8 India 3D Printer Market Import-Export Trade Statistics|
|8.1 India 3D Printer Market Export to Major Countries|
|8.2 India 3D Printer Market Imports from Major Countries|
|9 India 3D Printer Market Key Performance Indicators|
|10 India 3D Printer Market - Opportunity Assessment|
|10.1 India 3D Printer Market Opportunity Assessment, By Type, 2029|
|10.2 India 3D Printer Market Opportunity Assessment, By End Use Industry, 2029|
|11 India 3D Printer Market - Competitive Landscape|
|11.1 India 3D Printer Market Revenue Share, By Companies, 2022|
|11.2 India 3D Printer Market Competitive Benchmarking, By Operating and Technical Parameters|
|12 Company Profiles|
The 3D printer is the next-generation printing technology in additive manufacturing. In the global 3D printer market landscape, the U.S. currently accounts for the majority of the share. Although, India's 3D printer market is at the developing stage, nevertheless is witnessing major growth in Tier-I cities. India's surging 3D printer market poses high growth for domestic manufacturers, local assemblers, and distributors due to the increasing use of rapid prototyping and 3D modeling across various industry sectors.
Figure 1: India 3D Printer Market Revenues, 2010-2021F ($ Million)
3D printers have evolved over decades to develop precise and durable 3D models of engineering designs, objects, prosthetics, implants, dentures, fashion accessories, art, and decoration articles. The prominent technologies of 3D printing, which are used in the industry, include Selective Laser Sintering (SLS), Stereolithography (SLA), Fused Deposition Modeling (FDM), Polyjet, and Multi-Jet Modeling. In India 3D printer market, FDM technology-based 3D printers dominate the overall market, owing to low cost and wide user acceptability. In the application segment, automotive and industrial applications account for the largest share, in revenue & volume share. Moreover, Tier-I cities to contribute nearly three fourth of the 3D printers market in India, by 2021.
“India 3D Printer Market (2015-2021)” report estimates and forecasts the overall India 3D printer market by technology, applications, regions, end-use, and materials. The report also gives insights on competitive landscape, market share by companies, market trends, rental trends, company profiles, market drivers, and restraints.
Market Forecast by Printing Technology, Applications, End-Use, Regions, and Materials
|Product Code: ETC000236||Publication Date: Aug 2023||Product Type: Report|
|Publisher: 6Wresearch||No. of Pages: 146||No. of Figures: 92||No. of Tables: 14|
India 3D printer market Synopsis
3D printers are emerging as a key growing printing technology in a global landscape. In India, the market for 3D printers is at its nascent stage; however, it offers huge growth opportunities in the coming years. Low market awareness, cost constraint, and lower domestic production are witnessed as key hurdles for the adoption in the country. Although, with the government of India initiatives to boost the domestic manufacturing sector, these challenges are expected to be overcome.
According to 6Wresearch, India 3D Printer Market is projected to record $79 Million by 2021. Expected domestic production, low cost of manufacturing, and increasing penetration across various applications coupled with the Make-in-India campaign would spur the 3D printer market in India.
In India's 3D printers market, 3D printers have been used primarily is medical, architecture, automotive, industrial, aerospace & military, and other applications, where automotive application accounts for the largest of the revenue & volume share. Over the next six years, medical and aerospace & military applications are exhibiting promising growth in India's 3D printer market, owing to an increase in spending towards R&D of aerospace & military-related equipment.
The report includes India 3D printer market by technologies; by end uses such as private, commercial, and industrial; by applications such as electronics, automotive, medical, industrial, architectural, educational, aerospace and provides their market trend and forecast in terms of volume and revenue ($ million) from the year 2010 to 2021 with CAGR projected from the year 2015 to 2021. The report also covers regional wise market, market dynamics, current trends & opportunities, porter's analysis, SWOT analysis, the industry life cycle of 3D printer technologies, and timeline in India 3D printer market.
The India 3D printer market is anticipated to witness a proliferation in the coming years on the back of an increase in the technological advancements in the printing industry along with the introduction of visuals and acoustics which are expected to be another major driver of the potential growth of the 3D printer market in the country in the coming years. Also, the increase in the prototyping and accuracy provided by the technology is expected to assist the India 3D printing market to witness traction in the coming years. Additionally, a spur in the use of 3D printing for the printing and designing across industries such as defense, aerospace, and automotive is anticipated to trigger the growth of the metal 3D printing segment in the overall market in the coming years and is, further, expected to leave a positive impact on the overall market growth of the India 3D printing market in the upcoming six years and the timeframe thereafter.
India 3D printer market is estimated to bolster in the forthcoming years underpinned by an increase in the use of products across multiple sectors like the aviation and entertainment sector. on the basis of the end-users, the automotive industry is estimated to generate high sales revenues in the market owing to an increase in the purchase of vehicles also the growing sports vehicles are leading stimulate manufacturer to use 3D printers to develop automobile parts which are leading to leave a positive impact on the market and would being in lucrative opportunities for the to be investors and is estimated to bolster the growth of the India 3D printers market in the year ahead.
Key Highlights of the Report:
• Market Dynamics Including Drivers, Restraints, Opportunity for India 3D Printer Market
• Historical Market Revenue & Volume Trends for Global 3D Printer Market, 2010 - 2014
• Market Size & Revenue & Volume Forecast of Global 3D Printers Market until 2021
• Historical Market Revenue Trends for India 3D Printer Market, 2010 - 2014
• Market Size & Revenue Forecast of India 3D Printers Market until 2021
• Historical Market Volume Trends for India 3D Printer Market, 2010 - 2014
• Market Size & Volume Forecast of India 3D Printers Market until 2021
• Market Volume and Revenue Forecast and Estimations by Technologies until 2021
• Market Volume and Revenue Forecast and Estimations by Applications until 2021
• Market Volume and Revenue Trends and Forecast by End-Use until 2021
• Market Revenue Trends and Forecast by Region until 2021
• 3D Printing Materials Market Revenue Share, 2014 & 2021F
• Existing Market Trends
• Industry Life Cycle
• Porter's Five Forces Analysis
• Competitive Landscape
• Key Strategic Pointers
The report provides a detailed analysis of the following market segments:
• Printer Types:
o Selective Laser Sintering
o Fused Deposition Modeling
o Multi-Jet Modelling
o Electronics & Consumer Goods
o Aerospace & Military