A fresh recent report has been released from 6Wresearch that covers the 3D printer market and has broken down the report into technology, application, end users and region wise study.
The report that offers estimates and forecasts on technologies like Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Polyjet and Multi-Jet Modeling (MJM) systems, which breaks down the market into different applications such as electronics and consumer goods, automotive, medical, industrial, aerospace and military, educational and architectural in the private, commercial and industrial spheres.
The report says the expiration of key patents, the low cost of production and advancements in material research will drive the 3D printer market in India. 6Wresearch says demand in India is primarily driven by ‘Tier-I cities’, as those areas account for the major potential growth for domestic manufacturers, local assemblers and distributors.
Yet another market driver in the country, the ‘Make in India’ campaign, which began in 2014, is also expected to expand the future growth of the Indian market.
According to the report, the total Indian market will be some $79 million by 2021, and automotive applications will account for the majority of that revenue growth. 6Wresearch states educational and medical applications – and niche applications such as arts and crafts, interior decoration, fashion accessories, footwear designs, jewelry designs, animation & gaming and furniture modeling – will also see significant growth.
India primarily imports 3D printers from China, the US and Germany, but government initiatives aimed at boosting domestic manufacturing will result in more local device creation over the course of the forecast period.
FDM-based 3D printers dominate the Indian market, but the report points out that major challenge from CNC milling machines (which are cheaper on the whole there) have produced reluctance among consumers to purchase 3D printers. A decline in prices is expected to result in healthy growth in the near future.
The report suggests that as established players such as Stratasys, 3D Systems and Optomec gradually expand their brand awareness and marketing efforts in India via partnerships and alliances; they should see market share growth as well. India currently sees significant sales from Sintermask (Fabbster), 3D Systems, Leapfrog and Flashforge.