Delhi, April, 4, 2015: The India 3D printer market is expected to cross $79 million by 2021, with automotive applications accounting for the biggest chunk of business.Educational and medical applications arfe also expected to witness good growth.
Other niche applications include arts and crafts, interior decoration, fashion accessories, footwear designs, jewelry designs, animation & gaming, customized footwear designs, furniture and modeling.
These are findings from a study by 6Wresearch-- “India 3D Printer Market (2015-2021)” --covering the India 3D printer market by technology, application, end uses and region.
3D printer is the next-generation printing technology in additive manufacturing and is . in its nascent stage in many countries. However, with the expiry of the key patents, low cost of production, increasing awareness & penetration, and advancements in material research, 3D printer market is expected to witness tremendous growth in the coming years.
India accounts for major potential growth for domestic manufacturers, local assemblers and distributors due to increasing use of rapid prototyping and 3D modeling across various industry sectors. India primarily imports 3D printers in the country from countries such as China, U.S. and Germany. However, with government initiatives to boost domestic manufacturing like the “Make in Campaign”, many local players are expected to emerge in the forecast period.
The report estimates and forecast market by technology such as Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Polyjet and Multi-Jet Modeling (MJM). The report also segregates market into different application i.e. Electronics & Consumer Goods, Automotive, Medical, Industrial, Aerospace & Military, Educational, Architectural & Others, and end uses include private, commercial and industrial.
3D v. CNC
Amongst all 3D printing technologies, FDM-based 3D printers dominates the overall market. Low cost and ease of availability of these printers have led for their majority of the market revenues. In the industrial application, 3D printer market faces major challenge from CNC machines (used for modeling), which costs much less than 3D printers in India, thus increases reluctance among the consumers to opt for 3D printers. However, with the expected price decline, increasing market awareness, coupled with major transformation such as easier design capabilities, compatibility for mass production and manufacturing of large format object, India’s 3D printer market to witness healthy growth in the near future.
Globally established players, such as Stratasys, 3D Systems and Optomec, are gradually making their footprints in India, through partnerships and alliances with India based technology firms. Other major global players in 3D printing market include Sintermask (Fabbster), 3D Systems, Leapfrog and Flashforge.
Major players active in India 3D printing market (including manufacturers and distributors) include Altem Technologies, Imaginarium, Brahma 3, KCbots, 3Ding (REDD Robotics) and JGroup Robotics.