NEW YORK ? Over the next five years to 2019, IBISWorld projects that 3D Printer Manufacturing Industry revenue will grow at an average annual rate of 15.7 percent to top $3 billion, up from 1.4 billion in the five years ended 2014.
While industry revenue decreased 10.5 percent in 2009 due to recession related declines in demand, it bounced back in 2010 with 18.2 percent growth as downstream markets recovered. In 2014, revenue is expected to grow an additional 19.2 percent.
3D printers are increasingly used in medical device manufacturing to create customized medical devices, including hearing aids, orthopedic implants and dental implants; moreover, future applications such as 3D-printed organs and blood vessels are in development.
The price for most commercial 3D printers typically begins at around $15,000. However, a number of enterprising startups, in addition to commercial manufacturers, have focused on developing low-cost 3D printers for home use among hobbyist consumers.
Historically, architecture, design, engineering and construction industries have had to create models by hand or use older subtractive manufacturing techniques. 3D printers are capable of converting designs into 3D models almost instantaneously. As a result, 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, as the aircraft industry’s continual desire to reduce the weight of their aircraft in order to improve fuel efficiency will drive demand for 3D-printed products.
The price for most commercial 3D printers typically begins at about $15,000 and quickly rises upward and 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 low-cost 3D printers for home use among hobbyist consumers. As the price of 3D printers falls, a growing number of hobbyists are expected to enter the market.
