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The Global Selective Laser Sintering Equipment Market is experiencing strong growth during the forecast period owing to its high productivity, excellent mechanical properties, and reduced product development time. These machines are highly used in several applications, such as manufacturing fixtures, jigs, housings, snap fits, and living hinges. The equipment offers various industry applications, including aerospace, medical, automotive, electronics, and tooling.
Selective Laser Sintering is Popularly Gaining Market Demand Owing to its Wide Industry Application
Selective Laser Sintering 3D printing is widely used in producing low-volume parts and lightweight components for the automotive and aerospace industries. Manufacturing body kits, on-demand parts, and aftermarket products are all boosting the selective laser sintering equipment market. Several industry sectors are focusing on improved product design, functionality, and enhanced product efficiency, generating significant investment in selective laser sintering equipment.
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Global Machinery and Equipment value added witnessed a double-digit growth rate of about 13.7% in 2021, impacting the growth of the sintering equipment market across the globe.
Several Alternative Solutions Available Might Pose Challenges for the Selective Laser Sintering Equipment Market Growth
SLS Equipment offers limited material options with rough porosity and surface, and a high shrink rate might hinder the market growth during the forecast period. Selective laser sintering machines generate large amounts of waste during their operations.
Emerging Demand for Rapid Manufacturing and Short-Run Components to Surge Demand For Selective Laser Sintering Equipment
Rapid manufacturing is becoming increasingly popular due to its faster product development, improved quality, and design flexibility across diverse industry sectors, including automotive, aerospace, medical instruments, and jewelry. Increasing demand for customized and replacement products is surging the demand for short-run manufacturing processes, bolstering the market demand for laser sintering equipment across industries. Key players in the market are focusing on mergers and acquisitions to boost their presence.
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The report covers the following key insights:
Based on material, the market is classified into metal and nylon. Nylon material is preferably used in sintering machines for complex assemblies and durable parts manufacturing with environmental stability. Nylon materials are available in multiple variants tailored to different applications.
By application, the market is segmented into tooling, heavy equipment & machinery, and robotics.
Heavy Machinery & Equipment to cater to the highest revenue share in the selective laser sintering equipment market. Industrial sector growth is boosting the growth of customized tools, fixtures, and molds. SLS equipment offers faster implementation and aids in optimizing production lines, propelling the market demand in heavy machinery & equipment application.
By industry, the market is segmented into consumer goods, automotive, medical devices, aerospace & aeronautics, and others. Consumer goods account for the largest revenue market share owing to greater demand for consumer electronics, customized bottles, and electronic accessories. A selective laser sintering machine is used to prototype and functionally prototype various electronic products. Design of consumer goods such as electronic devices, audio and visual products, mixer grinders, and others propel the market demand for selective laser sintering equipment.
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In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Asia Pacific accounted for the largest share of the global selective laser sintering equipment market in 2023. Surging automotive demand, growing electronics manufacturing across countries including China, India, Japan, and other Southeast Asian countries, and rising industrialization are prominent factors impacting the growth of Selective Laser Sintering Equipment in the region.
North America will witness the highest growth rate in the Selective Laser Sintering Equipment market during the forecast period. The reason is the growing manufacturing sector, general machining, and high demand for electronics manufacturing across emerging countries.
Several supportive initiatives, a strong supply chain across trade borders, and increasing investment in manufacturing facilities propel the market growth for selective laser sintering equipment in diverse geographic locations.
The global Selective Laser Sintering Equipment market is fragmented, with a large number of regional and local players. In China, the top 5 players account for around 40% -45% of the market.
The report includes the profiles of the following key players:
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