While Some Claim 3D Printing Will Challenge China's Manufacturing Leadership, the Nation Is Rapidly Embracing the Technology, as Domestic Sales of 3D Printers Quadruple by 2018, Says Lux Research
BOSTON, MA--(Marketwired - Sep 30, 2014) - The allure of flexible local production based on 3D printing has led to claims that 3D printing will undermine the advantages that have made China a manufacturing and exporting powerhouse. However, China is rapidly embracing 3D printing itself, and sales of printers there will grow four-fold to 37,800 printers in 2018, as revenues more than triple to $109 million, according to Lux Research.
While those sales are still small in absolute terms, the rapid pace of adoption of 3D printing shows that China also aims to be a future leader in this new manufacturing method. Indeed, the education sector, aided notably by government policy, will be the largest market in the near-term, growing at 39% annually.
"While 3D printing has been touted as a way for Western economies to compete with China's manufacturing advantages, the Asian giant is also taking rapid strides to parlay its traditional strengths into 3D printing as well," said Richard Jun Li, Lux Research Director and the lead author of the report titled, "China's Growing 3D Printing Ecosystem."
"Far from being disrupted by 3D printing, China will thrive as its expertise in electronics, manufacturing, and its growing domestic market make it a threat and an opportunity for aspiring 3D printing value chain participants," he added.
Lux Research analysts evaluated China's 3D printing ecosystem, consisting of scanners, printing materials, printers and printing services. Among their findings:
The report, titled "China's Growing 3D Printing Ecosystem," is part of the Lux Research China Innovation Intelligence service.
About Lux Research
Lux Research provides strategic advice and ongoing intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit www.luxresearchinc.com for more information.
Lux Research, Inc.