3D Printers: Prices Down, Demand Up
Michelle Philippon - Business Development Specialist
Decline in Prices
In February, IBISWorld estimated that the price of 3D printing machines would fall 6.4% throughout the rest of this year and continue to decline at an annualized rate of 6.1% through 2019. This is due to a number of factors including: the decline of raw material inputs (aluminum, for instance) on account of weaker demand, growing import penetration, technological advancements, and the continuous flux of new vendors. Technological advancements in particular allow manufacturers of 3D printing technology to manufacturer and assemble these devices at lower costs.
Rise in Demand
There has been an increase in private investments in new equipment and machinery for industrial manufacturers and B2C retail companies which, in turn, has led to the rise in demand for new 3D printing technology. R&D expenditure has also risen recently, with similar results. Additionally, many companies are also beginning to adopt rapid prototyping, and consequently, the changes and innovations being made to 3D printers have brought about a decrease in manufacturing costs.
Questions or comments? Please contact Michelle Philippon at mphilippon@teamCOACT.com