U.S. 3D Printing Market to Expand Through 2020

According to market research publication Reportstack, the 3D printing market is anticipated to reach $17.2 billion by 2020. 

The printers sector is set to grow at a compound annual growth rate (CAGR) of 29% and is expected to make up $6.48 billion of the total forecasted revenue by 2020, reports a recent WhaTech article covering the data.

A shift from designing prototypes to creating end-user products across industries like aerospace, automotive, healthcare, oil, and gas are all reasons the 3D printing market is expected to exponentially grow, states the article.

The aerospace sector is expected to create the largest demand – especially from civil aircrafts and space-crafts. The U.S. aerospace market grew at a CAGR of 3% from 2011 to 2015; space-crafts showed the highest growth year-over-year by 7%, followed by civil aircrafts at 6% annually, reports the article.

The automotive, aerospace, and additive manufacturing industries all have a huge demand for equipment that can develop heavy-duty parts from lightweight material in an inexpensive way in the least time possible, which can be achieved with 3D printing, the article suggests.

While manufacturers welcome technological innovations like 3D printing for materials, companies can continue to rely on Lista storage solutions to drive overall efficiency and organization during such expansions.

Learn more about Lista manufacturing solutions or contact us for a quote!

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