3D Printer Manufacturing: Revenue will escalate, as demand from aerospace and medical fields takes off
Demand for industry products and revenue are forecast to surge ahead over the five years to 2016, as 3D printers explode in popularity. Additionally, more customers from a wide array of industries will increasingly join the 3D printing revolution. From 2011 to 2016, IBISWorld forecasts that industry revenue will grow at an average annualized rate of 15.9% to reach $3.0 billion. In 2012, IBISWorld projects that revenue will increase 20.3% to $1.7 billion.
The 3D Printer Manufacturing industry has leaped ahead in recent years, driven by rapid technological developments, falling costs, and new applications for 3D printing technology. Over the five years to 2011, revenue is expected to grow at an average annualized rate of 7.1% to total $1.4 billion. Industry revenue decreased 9.8% in 2009 due to recession-related declines in demand, though it bounced back in 2010 (13.0% growth), as downstream markets recovered. Revenue is expected to grow 20.8% from 2010 to 2011.
According to IBISWorld analyst, Kevin Culbert, 3D printers have been increasingly used in medical device manufacturing. “3D printers are used to create customized medical devices and medical devices that more accurately replicate the human form,” says Culbert. "These products include hearing aids, orthopedics, dental implants as well as future applications such as 3D-printed organs and blood vessels." Historically, architecture, design, engineering and construction industries have had to create models by hand or using older subtractive manufacturing techniques. 3D printers are capable of converting designs to near instantaneous 3D models; correspondingly, they have grown in popularity within this field. Aerospace manufacturers comprise another market that has the potential for strong future growth for 3D printer manufacturers. The aircraft industry's continual desire to reduce the weight of their aircraft (for fuel-efficiency reasons) will drive future demand for 3D-printed products.
The price for most commercial 3D printers typically begins at about $15,000 and quickly rises upward, which is out of the price range of the average consumer. However, a number of enterprising startups (in addition to commercial 3D printer manufacturers) have focused on developing lower-cost 3D printers for home use, making it more attainable for the average consumer. Over the five years to 2016, industry demand and revenue are forecast to surge forward as 3D printers explode in popularity and more customers from a wide array of industries join the 3D printing revolution. From 2011 to 2016, IBISWorld forecasts that industry revenue will grow at an average annualized rate of 15.9% to reach $3.0 billion. For more information, download the full report from IBISWorld on the 3D Printer Manufacturing industry
The 3D Printer Manufacturing industry market research report from IBISWorld provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.
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