According to TechSci Research report, “India 3D Printing Market- By Region, Competition Forecast & Opportunities, 2028,” The 3D Printing Market in India is poised for growth in the forecast period due to extensive research and development in additive manufacturing and increasing demand for prototype applications across various industrial sectors, notably healthcare, automotive, aerospace, and defense.
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Additive Manufacturing (AM) is the primary method used in industrial applications for 3D printing. This process involves adding material layer by layer based on a 3-dimensional digital model, utilizing specialized software and 3D printers. It finds application across diverse industry verticals, enhancing production efficiency in the final stages.
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Deployment encompasses installation services, consulting options, client support, and troubleshooting related to copyright, licensing, and patenting issues. Businesses benefit from 3D printing through rapid prototyping, streamlined production of complex structures and finished products, modeling, and accelerated time-to-market, thereby reducing manufacturing costs and offering superior products at competitive prices. Consequently, the demand for 3D printers and related services is expected to surge in the coming years.
However, prevalent misconceptions among small and medium-sized enterprises regarding prototyping processes hinder the widespread adoption of additive manufacturing. These businesses often view prototyping costs as an unnecessary expense rather than recognizing the strategic advantages and long-term benefits of prototypes. Such misperceptions, coupled with insufficient technical knowledge and a looming shortage of standardized process controls, are projected to impede industry growth.
The COVID-19 pandemic significantly impacted India's economy and the 3D printing sector as a whole. India initially faced one of the highest numbers of COVID-19 cases globally, prompting the government to impose strict lockdowns in major cities to curb the virus spread. This disrupted supply chains and logistics, leading to a halt in 3D printing operations, which adversely affected market expansion in the first and second quarters of 2020.
Segmented by Technology, the India 3D Printing market includes Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, and Others. Stereolithography holds the largest market share due to its established status and effectiveness in traditional printing processes. Despite its advantages, ongoing technological advancements and robust R&D efforts are creating opportunities for other reliable and efficient technologies. Fused Deposition Modeling (FDM) also contributed significantly to market revenue in 2021 owing to its wide applicability across various 3D printing processes. As these technologies continue to evolve, Selective Laser Sintering, Electron Beam Melting, and Laminated Object Manufacturing are expected to gain traction, driven by increasing demand from sectors such as aerospace and defense, healthcare, and automotive.
Key market players in the India 3D Printing Market include:
- Aha 3D innovations Pvt Ltd. 3D Print India
- Imaginarium India Pvt. Ltd
- J Group Robotics
- Dev Engineering
- Altem Technologies Ltd
- Wipro Enterprises Pvt Ltd.
- Sahajanand Technologies Private Limited Aurum 3D
- 3D Spectra Technologies LLP
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“The 3D printing industry is still in its infancy stage in India. In the years to come, it will present enormous growth prospects. The Make in India program, together with the emphasis on local production, the requirement for lean manufacturing, and rising penetration across a wide range of applications, would boost theIndia 3D Printing Market. The development of the regional 3D printing market will inevitably be significantly impacted by Make in India program.. Israel-based Stratasys is planning a rapid expansion of its 3D printing sector in India. Therefore, the growth of 3D Printing Market is expected to rise in the upcoming years,” said Mr Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India 3D Printing Market By Component (Hardware, Software and Services {Software (Design Software, Inspection Software, Printer Software, Scanning Software)}), By Printer Type (Desktop 3D Printer, Industrial Printer), By Technology (Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, Others), By Process (Powder Bed Fusion, Vat Polymerization/ Liquid Based, Material Extrusion, Binder Jetting, Material Jetting, Others), By Vertical (Automobile, Consumer Electronics, Medical, Aerospace & Defense, Education, Others), By Region, Competition Forecast & Opportunities, 2028”, has evaluated the future growth potential of India 3D Printing Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India 3D Printing Market.
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