India accounts for major potential growth for domestic manufacturers, local assemblers and distributors due to surging utilization of 3D modelling across various industrial sectors. The 3D printers are majorly imported from China, US, and Germany. However, the increasing initiatives by the government such as the Make in India campaign to boost the local production is anticipated to strongly contribute to the growth of India 3D printer market in forthcoming period.
According to MarkNtel Advisors’ research report “India 3D Printer Market Analysis, 2020”, the 3D printer market is projected to grow at a CAGR of X% during 2020-25. The gradual growth in the use of 3D printers in medical, architecture, automotive, industrial, aerospace & defense, etc., has positively impacted the India 3D printer market. Moreover, the increasing support from the government for boosting the local production has introduced several new manufacturers in the 3D printer market.
The high cost of the equipment required to deploy the 3D printers is one of the major challenges faced by the India 3D printer market. Moreover, the CNC machines used in the industrial sector poses a threat to the India 3D printer market as they cost much less than 3D printers in the country. However, the prices are anticipated to lower in the forthcoming period, with the emergence of locally manufactured equipment.
India 3D Printer Market
As per MarkNtel Advisors’ study, the Fused Deposition Modelling (FDM) grabbed the highest market share in the India 3D printer market in 2019. The fused deposition modelling finds its application in automotive, consumer goods, aerospace, etc. The maximum market share is attributed to its ability to build durable and stable parts at affordable price. Moreover, the automotive sector is projected to capture a significant market share in the India 3D printer market in the forthcoming period. 3D printers are utilized in the automotive industry to manufacture lightweight vehicle components and has the ability to reduce the production time and minimize maintenance costs.
The major players who has grabbed a considerable market share in the India 3D printer market include 3D Systems Inc., Altem Technologies, Brahma3 Pvt. Ltd., DesignTech Systems Ltd., KC Bots, Optomec, etc. The companies are establishing strategic partnerships to gain a competitive edge in the industry. In 2017, DesighTech Systems announced a partnership with Solidscape to launch 3D printers in India.
"India 3D Printer Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for 3D printer firms across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.
1. By Product (Industrial, Desktop)
2. By Technology (Fused Deposition Modelling, Selective Laser Sintering, Stereolithography, Digital light Processing, Others)
3. By Application (Medical, Industrial, Others)
4. By Geographic Region (North, West, East, South, North East)
5. By Competitors (3D Systems Inc., Altem Technologies, Brahma3 Pvt. Ltd., DesignTech Systems Ltd., KC Bots, Optomec, Others)
Key questions answered in the study:
1. What are the current and future trends of the India 3D printer market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the India 3D printer market?
6. What are the customer orientation, purchase behavior, and expectations from the 3D printer companies across various regions?