- What You Need to Know
- 3D printing is finding increasing applications in the power industry. It is providing benefits such as shorter lead times and reduced costs, and helping companies enhance their equipment efficiency more rapidly. Companies are setting up dedicated business units to focus on this disruptive technology.
- The 3D printing market blends software technology with materials science. The growth in interest in 3D printing technology is fuelling a significant amount of R&D investment in the core technologies that make up 3D printing solutions.
- In 2017, the 3D printing industry was worth $7bn, up from $3bn in 2013. By 2025 the 3D printing market will account for over $20bn in global spend.
Reducing the cost and cycle time of prototyping will spur innovation
3D printing is already used to create models that represent the precise shape and size of a new design but, as the number of available materials expands, 3D printers will be able to produce fully functional parts which can be tested and evaluated. The ability to shorten the design-prototype-test cycle will accelerate the innovation process, giving organizations that embrace the technology a significant advantage over those that don’t. Find out more in our report, 3D Printing in Power – Thematic Research.