Biz / Tech

Chinese market for 3D printing services set to grow to US$7.58b by 2020

The explosive growth due to services being more "accessible and customized"
Zhu Shenshen / Ti Gong

3D Printing meets the country’s effort to turn itself from a "manufacturing hub" to a global "research and innovation center", said Omer Krieger, general manager of Stratasys’Asia Pacific and Japan markets. 

The Chinese market for 3D printing services are set to grow dramatically to 50 billion yuan (US$7.58 billion) by 2020 because they will be more “accessible and customized” within several years, Stratasys, the world’s biggest 3D printer, said today in Shanghai.

The lower cost and threshold of 3D printing services opens up possibilities that include making it accessible for doctors to better serve patients, engineers to maintain airplanes and designers to customize their artworks, according to Stratasys.

Revenue in the global 3D printing market will hit US$327.8 billion by 2023, a 26 percent annual growth since this year, according to Marketand Markets. In China, the market revenue will hit 50 billion yuan by 2020, triple this year’s 17.3 billion yuan, Stratasys said.

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