DUBLIN–(BUSINESS WIRE)–The “India 3D Printer Market, By Type, By End Use Industry, By Process, By Region, Competition, Forecast & Opportunities, 2018-2028” report has been added to ResearchAndMarkets.com’s offering.
The Indian 3D Printer Market stood at USD92.34 million in 2022 and is forecast to grow at a CAGR of 20.33% by 2028. Increasing company inclination toward 3D printing would further support the industry growth. Companies such as Tata Motors and Maruti Suzuki use additive manufacturing technology for prototype testing and R&D. Also, the local players in the industry are launching new products to boost the market growth.
3D printers today can print almost anything, from metal to food. As 3D printing is single-step manufacturing thus, it saves time in using different manufacturing machines. Moreover, it reduces the cost involved in materials as it only uses the required material with no waste.
Increasing Demand for Medical Equipment Drives the Market
Growing incidences of lifestyle diseases demand affordable healthcare delivery systems coupled with the surging population in India, resulting in the demand for healthcare facilities. Furthermore, rising IT investment in the country is likely to aid the expansion of the 3D printing industry. The healthcare device manufacturing facilities in the country are doing tie-ups with 3D printing technology providers to procure operational efficiency, cost reduction, and a smooth supply chain process. For instance, in 2020, Mumbai-based zero technologies, manufactured 45,000 3D-printed face shields amid the COVID-19 pandemic.
Anatomiz3D Medtech Private Limited developed cost-effective 3D printed face shield masks for the coronavirus warriors. Furthermore, the 3D printing solution necessitates healthcare for bio-printing tissue or organs, surgical tool manufacturing, etc. Moreover, the anatomical model for surgical preparation is a major application of additive manufacturing. For instance, Anatomiz3 DLLP, a provider of technological solutions to the healthcare industry, prepared a 3D model from a CT scan to prepare in advance for the surgery in 2018.
In India, almost 80% of the medical equipment is being imported. However, the country’s COVID-19 problem has led to a significant increase in demand for medical equipment, providing an opportunity for medical equipment makers. Thus, 3D printing technology is being used by equipment manufacturers to improve operating efficiency and drives the market of the Indian 3D Printer Market.
Increasing Usage of 3D Printing in Research & Development
Research and development are essential departments of every industry. New technologies are being used to research, test, and develop several products. 3D printing has become one of the viable options for research & development departments over the past few years. It provides quick access to numerous designs without any additional cost. In 2022, the applications of 3D printing will increase in the R&D departments across India. Thus, the increasing use of 3D printing is helping engineers to build prototypes and make changes based on design testing to get more insights into product testing before finalizing production plans. Additionally, as the R&D becomes affordable, several new products are being introduced.
Growing Demand of 3D Printing in Automobile Industry
The automobile industry was among the first industries in India to embrace 3D printing. Although India became a manufacturing hub for automakers worldwide, it was one of the industries that adopted 3D printing in India. Presently, Indian automakers use 3D printing for quick in-house spare – parts design and development, as well as the adoption of innovative constituents. 3D printing is a complementary technology to emerging manufacturing technologies that is rapidly expanding its presence in a wide range of applications worldwide. 3d printing allows for the creation of simple and complicated things in various sizes ranging from small to large. The automobile vertical is the 3D printing market’s fastest-growing vertical. The automotive sector has also moved away from using 3D printing for development and testing to manufacturing final components and products. The market is increasing demand for newer, effective vehicles and the need to optimize production, supply chains, and logistics.
Report Scope
India 3D Printer Market, By Type:
India 3D Printer Market, By End-Use Industry:
India 3D Printer Market, By Process:
India 3D Printer Market, By Region:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on India 3D Printer Market
5. Voice of Customer
6. India 3D Printer Market Outlook
7. South India 3D Printer Market Outlook
8. North India 3D Printer Market Outlook
9. West India 3D Printer Market Outlook
10. East India 3D Printer Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Policy and Regulatory Landscapes
14. Competitive Landscape
15. Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/wazqsw
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