With over 25 years experience analyzing the 3D printing industry Wohler’s report is considered one of the gold standards of AM analysis, providing an in depth look at worldwide 3D printing trends and performance.
According to a Wohlers Associates, “the market for 3D printing, consisting of all products and services worldwide, grew to $3.07 billion last year. Compared with an average 27% growth rate over the past 26 years, the compound annual growth rate (CAGR) of 34.9% is the highest in 17 years. The CAGR for the past three years (2011–2013) was 32.3%.
In their analysis, Wohlers Associates states that they believe the 3D printing industry will continue to grow over the next few years fueled by sales of sub-$5000 prosumer printers. In addition to the technology’s in-home proliferation, 3D printing will see a boost due to its continued use in the production of end-use parts and prototypes.
"The industry is experiencing change that we have not seen in 20+ years of tracking it," stated Tim Caffrey, Senior Consultant at Wohlers Associates and one of two principal authors of the new report. Caffrey added, "What's most exciting is that we have barely scratched the surface of what's possible."
In the coming years, 3D printing will likely follow Wohlers predictions regarding 3D printing’s potential in the sub-$5000 market. While that market is here today, if AM is to make a lasting impact on the manufacturing world metal 3D printers will need to be the industry’s leading technology. Until that time, many will see 3D printers and AM in general as nothing more than a prototyping tool – and anyone who has seen an AM system at work knows the technology has much greater potential than that.
Image Courtesy of Wohlers Associates