IDC Report: China to Trump US in 3D Printer Shipments in 2016
The 3D printer shipments in the China market reached over 34,000 units in 2014, and are expected to have reached 77,000 units in 2015, according to a report by the global research firm International Data Corporation. This exhibits a growth rate of 120%, which is largely driven by sales of desktop 3D printers priced under US$5,000.
Should the trend continues, researchers predict that the desktop 3D printer market will maintain an annual growth rate in the coming years.
“China’s local 3D printer market will surpass the US market in 2016 with an annual growth rate over 100%,” said Wendy Mok, research manager for IDPS at IDC China. “However, the US is expected to retain its position as the market leader in terms of market revenues, due to the greater proportion of high-end printers adopted by the manufacturing sector.”
“To capitalize on this growth,” Mok added, “3D printer vendors will have to discover and meet the demands of corporate users and the trend of industrial transformation in China. Vendors should aim to provide comprehensive solutions in different market segments in order to increase their competitiveness.”
Desktop 3D printer shipments contribute over 90% of the 3D printer market in China. However, major portion of the desktop market is occupied by low-end desktop fused deposition modeling (FDM) 3D printers priced as low as US$500.
But, when it comes to generating revenue, professional 3D printers are way more profitable which make up 78% of total revenues in the 3D printing market. Which results in lagging market revenues from desktop 3D printers in China.
Currently, the China government is making efforts to promote 3D printer awareness and usage within schools and educational institutions. If the government continues its initiatives, IDC forecasts the China 3D printer market to grow at a compound annual growth rate (CAGR) of 43% with total shipments to reach 440,000 units by 2020.