India Additive Manufacturing Market by Type (Desktop 3D Printer and Industrial 3D Printer), by Technology (Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melting, Laser Metal Deposition, Digital Light Processing, Laminated Object Manufacturing, and Other Technology), by Component (Hardware, Software, and Services), by Application (Prototyping, Tooling, and Functional Parts), and by End User (Desktop Additive Manufacturing and Industrial Additive Manufacturing) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Construction & Manufacturing | Publish Date: 19-Nov-2024 | No of Pages: 182 | No. of Tables: 144 | No. of Figures: 109 | Format: PDF | Report Code : CM664
India Additive Manufacturing Market Overview
India Additive Manufacturing Market size was valued at USD 677.4 million in 2023, and is predicted to reach USD 3749.5 million by 2030, at a CAGR of 26.1% from 2024 to 2030. In terms of volume, the market size was 37 thousand units in 2023, and is projected to reach 234 thousand units by 2030, with a CAGR of 17.4% from 2024 to 2030.
The additive manufacturing (AM) market, also known as additive layer manufacturing (ALM) or three-dimensional (3D) printing, is a global industry focused on the development, production, and distribution of technologies and materials for creating three-dimensional objects layer by layer from digital models.
This market serves a variety of sectors, including aerospace, automotive, healthcare, and consumer goods, by offering advanced solutions for prototyping, production, and customized manufacturing. AM is highly valued for its ability to produce intricate and personalized components while minimizing material waste, leading to significant cost savings and environmental benefits.
A key feature of this market is its diverse range of printing technologies, such as stereolithography (SLA), selective laser sintering (SLS), and fused deposition modeling (FDM), each designed to meet specific industry needs and applications. Additionally, AM's capability for rapid prototyping shortens product development cycles, enabling businesses to innovate and bring products to market more quickly than traditional manufacturing methods.
Rising Advancement in the Healthcare Sector Drives the Growth of the Market
The modernization and expansion of the healthcare sector in India are driving the need for customized, high-precision medical devices such as implants, prosthetics, and surgical instruments. Additive manufacturing (AM), with its ability to produce complex, patient-specific designs quickly and cost-effectively, is perfectly suited to meet these demands.
According to the India Brand Equity Foundation report of 2024, India is the fourth-largest Asian medical devices market, after Japan, China, and South Korea, with a market size of USD 11 billion in 2022. This market is expected to grow to USD 50 billion by 2030 at a CAGR of 16.4%. This surge in India's medical devices market is increasing the demand for AM due to its capability to quickly and cost-effectively produce customized, high-precision medical devices and components.
Surging Adoption of Innovative Strategies by Key Players Propels Market Expansion
The growing number of product launches of 3D printers by key players is significantly boosting India additive manufacturing market demand. The introduction of new, high-quality, and affordable 3D printers makes AM technology more accessible to various sectors, including education, healthcare, and engineering.
This accessibility drives wider adoption and integration of 3D printing into production processes, encouraging innovation and efficiency. In October 2022, WOL3D launched a range of high-quality, affordable 3D printers in India, including models Pixel S1, Twilight 10, and Aster Max.
These printers are designed for easy assembly and use, featuring auto-leveling and intelligent sensor technology. As businesses and industries recognize the benefits of rapid prototyping and customized production, the demand for AM technologies in India continues to rise.
High Upfront Investment Restrains Market Growth
The substantial upfront investment needed for equipment, materials, and training presents a significant obstacle to India additive manufacturing market expansion. This financial commitment poses a notable challenge for businesses, particularly smaller ones, limiting their capacity to enter or expand operations within the market.
Additionally, ongoing expenses related to materials and training further increase the overall financial burden. Consequently, many businesses are hesitant to adopt AM technology due to these initial financial challenges, thereby impeding the growth potential of the additive manufacturing market.
Integration of Artificial Intelligence (AI) in Additive Manufacturing Presents Lucrative Opportunity for Market Expansion
Integrating artificial intelligence (AI) into additive manufacturing (AM) is anticipated to expand the 3D printing by refining production processes, enhancing product design capabilities, and facilitating the creation of intricate and personalized objects.
AI integration enables businesses to analyze extensive datasets gathered during printing, such as material properties, printing parameters, and environmental conditions. This analysis helps identify patterns, optimize settings, and predict potential defects, thereby improving printing precision and reducing material waste.
Competitive Landscape
The prominent key players operating in India additive manufacturing industry include 3D Spectra Tech, 3Deometry Innovations LLP, Addere Creations, Amace Solutions, Botzlab Innovations & Services, Stratasys Indiam, Phillips Machine Tools India Pvt. Ltd., 3D Incredible, PrintLay, Altem Technologies Pvt. Ltd. and others.
India Additive Manufacturing Market Key Segments
By Type
-
Desktop 3D Printer
-
Industrial 3D Printer
By Technology
-
Stereolithography
-
Fused Deposition Modeling
-
Selective Laser Sintering
-
Direct Metal Laser Sintering
-
Polyjet Printing
-
Inkjet Printing
-
Electron Beam Melting
-
Laser Metal Deposition
-
Digital Light Processing
-
Laminated Object Manufacturing
-
Other Technology
By Component
-
Hardware
-
Software
-
Design Software
-
Inspection Software
-
Printer Software
-
Scanning Software
-
-
Services
By Application
-
Prototyping
-
Tooling
-
Functional Parts
By End User
-
Desktop Additive Manufacturing
-
Educational Purpose
-
Fashion & Jewellery
-
Objects
-
Dental
-
Food
-
Other Desktop Additive Manufacturing
-
-
Industrial Additive Manufacturing
-
Automotive
-
Aerospace & Defense
-
Healthcare
-
Consumer Electronics
-
Power & Energy
-
Other Industrial Additive Manufacturing
-
Key Players
-
3D Spectra Tech
-
3Deometry Innovations LLP
-
Addere Creations
-
Amace Solutions
-
Botzlab Innovations & Services
-
Stratasys India
-
Phillips Machine Tools India Pvt. Ltd.
-
3D Incredible
-
PrintLay
-
Altem Technologies Pvt. Ltd.
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 677.4 million |
|
Revenue Forecast in 2030 |
USD 3749.5 million |
|
Growth Rate |
CAGR 26.1% from 2024 to 2030 |
|
Market Volume in 2023 |
37 thousand units |
|
Market Forecast in 2030 |
234 thousand units |
|
Volume Growth Rate |
CAGR of 28.0% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
Market Share |
Available for 10 companies |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
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