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Over the past decade, additive manufacturing technologies have drastically changed the way of designing, development, and manufacturing of industrial goods. 3D printing offers integration of metals & alloys with other raw materials as per the requirement of the end-user industry, to create specified 3-dimensional objects.
Automakers and suppliers of different types of manufacturing products have realized the benefits of 3D printing solutions. This is eventually increasing the demand for 3D printing solution in these industries. In the automotive industry, 3D printing technologies have introduced new shapes into the industry, allowing the industry to produce lighter and more complex structures at affordable price ranges.
Rapid prototyping at the time of product development remains the major application of 3D printing technology. The ongoing technological innovation in the 3D Printing industry has helped the industrial sectors to manufacture lightweight material parts for their production process, be it in the automotive or healthcare sector. Increasing R&D expenditure in the healthcare industry and increasing demand for lightweight automotive materials is driving the 3D printing technology market in the European region.
As per Janssen, (pharmaceutical company of Johnson & Johnson) the European healthcare expenditure is estimated to increase from 13% of the GDP to 18% of the GDP by 2030. In addition, European R&D healthcare spending reached almost half of that of Germany in 2014. The private sector accounted for around 70% of the total spending and the rest by public funding.
The Europe 3D Printing market is segmented based on component, technology, application, and verticals. Products, materials, and services are the major components considered while analyzing the European 3D printing industry. The Europe 3D printing material market is further divided into different material types including polymer, metal & alloy, metal & alloy and others.
In 2014, the polymer segment dominated the Europe 3D printing material type market. Stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing, and others are the major technologies considered while analyzing the 3D printing market in Europe. Education/Research, Visual Aids, Presentation Modeling, Fit and Assembly, Prototype Tooling, Metal Casting, Functional Parts and other are the major application area of 3D printing technology.
Furthermore, the 3D printing technique finds its major application in industry verticals including education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction, and others. For a better understanding of the market penetration of 3D printing, the market is analyzed based on countries including Germany, France, U.K., Russia, Italy, Spain and the rest of Europe. In 2014,
Germany dominated the market with maximum share in terms of revenue. Italy, on the other hand, is expected to register the fastest growth during the forecast period. The report also highlights a few prominent players operating in the 3D Printing market.
Key companies profiled in the report include 3D Systems Corporation, Arcam AB, Royal DSM N.V., ExOne GmbH, Autodesk, Inc., Stratasys Ltd., Hoganas AB, Ponoko Limited, Mcor Technologies Limited and Optomec, Inc.