According to Wohlers Report 2014, the worldwide 3D printing industry is now expected to grow from $3.07B in revenue in 2013 to $12.8B by 2018, and exceed $21B in worldwide revenue by 2020. Wohlers Report 2013 had forecast the industry would grow to become a $10.8B industry by 2021. Source: Why 3D Printing Stocks Could Have a Tremendous Runway for Growth.
Prototyping (24.5%), product development (16.1%) and innovation (11.1%) are the three most common reasons companies are pursuing 3D printing. Of those surveyed in a recent Gartner study, 37% had just one 3D printer within their organizations, with 18% owning 10 or more. The average number of printers per organization was 5.4. Source: Gartner Survey Reveals That High Acquisition and Start-Up Costs Are Delaying Investment in 3D Printers.
Global 3D Printing
3D en masse is on the way
Mass manufacturing is on the way and China, more than most, will have to adapt. Much of China’s reputation as a manufacturing powerhouse is based on its ability to mass produce products for a low unit price. 3D printing will disrupt this business.
So Chinese firms know they can adapt and thrive, or they may struggle to survive.
Manufacturers across a broad spectrum of industries including automotive, aerospace, dental, discrete, high tech, and medical products are all actively piloting and using 3D printing technologies today. Prototyping continues to dominate the reasons why enterprises pursue 3D printing, with the opportunity of improving new product development and time-to-market being long-term goals.