Global Rapid Prototyping Market - Snapshot
According to a new market report published by Transparency Market Research titled “Rapid Prototyping Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” the global rapid prototyping market is expected to reach US$ 6,513.9 Mn by 2026. The market is projected to expand at a CAGR of 12.91% during the forecast period from 2018 to 2026. According to the report, the global rapid prototyping market will continue to be influenced by a range of factors such as rising demand for 3D printing technology worldwide, and increasing demand for rapid prototyping to speed-up the design and production process. Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at above 14% through 2026.
Metal as a material used for rapid prototyping expected to be more lucrative for the market
The global rapid prototyping market is bifurcated by components into metal, polymer, ceramic, plastic & starch, and foundry sand parts. Metal is expected to surpass US$ 1,700.00 Mn by 2026. Metal type material is extensively used for rapid prototyping across heavy load industry verticals such as automotive and aerospace & defense. Additionally, metal also finds application across industry verticals such as healthcare, for rapid prototyping of medical equipment such as implants, surgical instruments, and more.
Additive rapid prototyping technology expected to dominate the rapid prototyping market around the globe
Based on technology, the rapid prototyping market is segmented into subtractive and additive. Additive rapid prototyping technology is projected to surpass US$ 3,000 Mn by 2026. As compared to subtractive rapid prototyping technology, additive rapid prototyping technology offers prototyping of any part at a much faster speed that helps in ramping up the designing and production process. Furthermore, subtractive prototyping is limited to relatively simple shapes, while additive manufacturing can create complex geometries that are not possible with any other technology.
Consumer goods &electronics end-use industry segment expected to expand at a significant growth rate during the forecast period
On the basis of end-use industry, the rapid prototyping market is segmented into aerospace & defense, consumer goods & electronics, automotive, healthcare, and others. Others industry vertical segment includes entertainment and oil & gas. Rapid prototyping is being used largely by the consumer goods & electronics industry vertical, as time to market is vital for consumer products. Rapid prototyping plays a vital role in reducing the time to market alongside maintaining the quality. Unlike traditional prototyping techniques, rapid prototyping is a process where the part is built from the ground up, layer by layer, based on data from a CAD file. Furthermore, rapid prototyping helps in achieving higher designing and production speed that eventually reduces the time to market.
North America to continue to hold significant share in the overall market
In terms of value, North America was the leading contributor to the global rapid prototyping market in 2017. The contribution is primarily due to the booming rapid prototyping marketplace along with the presence of well-established players across the region, especially driven by the U.S. and Canada. The U.S. is home to many well-established players from the rapid prototyping domain including 3D Systems, Inc., Stratasys Ltd., and Carpenter Technology Corporation. Furthermore, North America is witnessing higher adoption of rapid prototyping due to continuously rising automotive and healthcare industry. Many companies are trying to innovate novel products pertaining to rapid prototyping to compete with the other well-established players across the region and globe. For instance, in April 2018, Stratasys Ltd. advanced its products, namely J750 and J735 3D printers, to reduce the time-to-market and development cycles. Furthermore, it will help customers and various designers to build rapid prototypes with streamlined design-to-prototype workflows for faster time-to-market.
Stratasys Ltd., 3D Systems, Inc., GE Additive,Carpenter Technology Corporation, and Sandvik AB among others are some of the major players operating in the rapid prototyping market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling. Various players are providing novel rapid prototypingto be used across various industry verticals to reduce the time to market. Also, market players are establishing partnershipsto support the growth of consumer demand.
Global Rapid Prototyping Market: Overview
The “Rapid Prototyping Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026” report provides analysis of the rapid prototypingmarket for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. Data for 2016 has been included as historical information. The report covers all the trends and technologies playing a major role in the growth of the rapid prototyping market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the market’s growth in terms of revenue (in US$ Mn) across different geographical regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and South America. The report highlights the key trends affecting the market on a global scale. Furthermore, region wise prominent countries/regions covered in the report includes the U.S, Canada, Germany, France, the UK, India, China, Japan, GCC countries, South Africa, and Brazil.
This report analyzes and forecasts the market for rapid prototyping at the global and regional level. The market has been forecasted based on revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global rapid prototyping market. It also covers the impact of these drivers and restraints during the forecast period.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global rapid prototyping market. Porter’s Five Forces model has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
Global Rapid Prototyping Market: Taxonomy
This research study on the global rapid prototyping market provides a detailed cross segment and cross country analysis based on the different segments including technology, material, and end-use industry. Based on technology, the market is segmented into subtractive and additive; additive is further bifurcated into stereolithography, selective laser sintering, fused deposition modeling, ink jet printing techniques, and others. On the basis of material, the market is divided into metal, polymer, ceramic, plaster and starch, and foundry sand parts. Furthermore, on the basis on end-use industry, the market is bifurcated as aerospace & defense, consumer goods & electronics, automotive, healthcare, and others.
Global Rapid Prototyping Market: Research Methodology
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, national government documents, statistical databases, and market reports, Factiva, etc.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on the market size, market trends, growth trends, competitive landscape, and outlook, etc. These help us to validate and strengthen secondary research findings. These also help to develop the analysis team’s market expertise and understanding.
Global Rapid Prototyping Market: Competitive Dynamics
The report covers well-established players such as 3D Systems, Inc., Stratasys Ltd., EOS GmbH, Sandvik AB, and Royal DSM. These players are innovating novel products pertaining to rapid prototyping as well as expanding their regional presence for additional revenue generation. For instance, in November 2017, 3D Systems, Inc. announced the availability of its on demand manufacturing services named, “Quickparts” e-commerce platform in Europe, the Middle East, and Africa. Quickparts includes services such as rapid prototyping, advanced prototyping, and low-volume production.
Global Rapid Prototyping Market Segments
Global Rapid Prototyping Market, by Technology
- Selective Laser Sintering
- Fused Deposition Modeling
- Ink Jet printing techniques
Global Rapid Prototyping Market, by Material
- Plaster and starch
- Foundry sand parts
Global Rapid Prototyping Market, by End-use industry
- Aerospace & Defense
- Consumer goods & electronics
Global Rapid Prototyping Market, by Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America