“India 3D Printer Market (2015-2021)” is a report from 6Wresearch covering the 3D printer market, and it’s broken down by technology, application, end uses and region.
It’s a report that offers estimates and forecasts on technologies like Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Polyjet and Multi-Jet Modeling (MJM) systems, which breaks down the market into different applications such as electronics and consumer goods, automotive, medical, industrial, aerospace and military, educational and architectural in the private, commercial and industrial spheres.
The reports says the expiration of key patents, the low cost of production and advancements in material research will drive the 3D printer market in India. 6Wresearch says demand in India is primarily driven by what they call “Tier-I cities,” and those areas account for the major potential growth for domestic manufacturers, local assemblers and distributors.
Yet another market driver in the country, the “Make in Campaign” which began in 2014, is also expected to expand the future growth of the Indian market.
According to the report, the total Indian market will be some $79 million by 2021, and automotive applications will account for the majority of that revenue growth. 6Wresearch says educational and medical applications – and niche applications such as arts and crafts, interior decoration, fashion accessories, footwear designs, jewelry designs, animation and gaming, and furniture modeling – will also see significant growth.
India primarily imports 3D printers from China, the U.S. and Germany, but government initiatives aimed at boosting domestic manufacturing will result in more local device creation over the course of the forecast period.
FDM-based 3D printers dominate the Indian market, but the report points out that major challenges from CNC milling machines (which are cheaper on the whole there) have produced a reluctance among consumers to purchase 3D printers. A decline in prices is expected to result in healthy growth in the near future.
The report suggests that as established players such as Stratasys, 3D Systems and Optomec gradually expand their brand awareness and marketing efforts in India via partnerships and alliances, they should see market share growth as well. India currently sees significant sales from Sintermask (Fabbster), 3D Systems, Leapfrog and Flashforge.
According to 6Wresearch, the other major players in the Indian 3D printing market like Altem Technologies, Imaginarium, Brahma 3, KCbots, 3Ding (REDD Robotics) and JGroup Robotics will see considerable growth during the next six years.
What do you think of the numbers for the expected growth in the 3D printer market in India from 6Wresearch? High? Low? On the money? Let us know your thoughts in the 3D Printing in India forum thread on 3DPB.com.