The Power of Precision: Selective Laser Sintering Equipment Market Explained
The "Selective Laser Sintering Equipment Market by Material (Metal, and Nylon), Application (Tooling, heavy equipment & machinery, and Robotics), Industry (Consumer Goods, Automotive, Medical Devices), Laser Type, and Geography - Global Forecast to 2023," the SLS equipment market is estimated at USD 339.5 million in 2018 and is projected to reach USD 947.4 million by 2023. This substantial growth, at a CAGR of 22.8% from 2018 to 2023, reflects the increasing demand for both SLS equipment and materials. Specifically, the market for SLS and Direct Metal Laser Sintering (DMLS) equipment is expected to grow at an even faster rate, with a projected CAGR of 27.5% during the forecast period.
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This growth is driven by the expanding applications of SLS technology across various industries such as consumer goods, automotive, and medical devices, where precision and efficiency are paramount. Additionally, advancements in laser types and material capabilities are further propelling the market forward, making SLS an integral part of modern manufacturing and production processes.
The market for Selective Laser Sintering (SLS) equipment is experiencing significant growth due to rising demand across various end-user industries. Key sectors such as consumer goods, automotive, aerospace & aeronautics, machinery and equipment, healthcare and medical devices, and art and fashion are increasingly adopting SLS technology for creating prototypes. The ability of SLS equipment to produce high-precision and durable prototypes quickly and efficiently is driving its popularity. Industries benefit from the flexibility and cost-effectiveness of SLS technology, which allows for rapid prototyping and iterative design processes, ultimately leading to more innovative and refined products. This widespread adoption across diverse applications underscores the vital role of SLS equipment in modern manufacturing and product development.
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Nylon-based SLS equipment dominated the overall SLS equipment market in 2017
In 2017, nylon-based Selective Laser Sintering (SLS) equipment held the largest share of the overall SLS equipment market, driven by extensive use in the consumer goods and automotive industries. This dominance is attributed to nylon's versatility and reliability in creating high-quality prototypes. Industries utilize nylon-based SLS equipment for various applications, such as developing prototypes for GPS products, designing perfume bottles, and crafting exterior bodies for washing machines and dishwashers. However, metal-based SLS equipment is anticipated to exhibit the fastest growth during the forecast period, fueled by increasing demand for durable and precise components in sectors like aerospace and medical devices. The expanding application of SLS technology in prototyping and functional prototyping underscores its critical role in accelerating innovation and product development across diverse industries.
SLS equipment market for robotics application to grow at highest CAGR during forecast period
The advent of Selective Laser Sintering (SLS) printing has revolutionized the landscape for robot makers, offering them newfound flexibility and autonomy in part design and production. Historically reliant on off-the-shelf components, manufacturers can now leverage affordable SLS 3D equipment alongside user-friendly design tools to customize and fabricate their own parts. This shift not only reduces dependency on traditional supply chains but also accelerates the prototyping and production processes. With the cost-effectiveness of SLS technology, the barriers to entry for robot building have significantly diminished, fostering innovation and experimentation within the industry. Particularly in robotics applications, where precision and durability are paramount, metal-based SLS equipment emerges as a preferred choice for creating prototypes and intricate final parts. As the adoption of SLS equipment continues to gain momentum, the realm of robot manufacturing is poised for further advancements and efficiencies, propelled by the versatility and accessibility of SLS 3D printing.
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SLS equipment market in APAC to grow at highest CAGR during forecast period
The Selective Laser Sintering (SLS) Equipment Industry in the Asia-Pacific (APAC) region is poised to experience remarkable growth, fueled by the widespread adoption of SLS technology across diverse sectors. Verticals such as consumer goods, aerospace, automotive, healthcare, and jewelry are increasingly embracing SLS equipment for its versatility and efficiency. As the demand for SLS equipment and materials continues to surge, APAC is expected to witness a rapid expansion in SLS penetration. Key contributors to this growth trajectory are Japan and China, with China emerging as a particularly promising market due to its vast potential in SLS 3D printing applications and its status as the fastest-growing market in the region. However, despite the promising prospects in APAC, North America currently dominates the SLS equipment market, buoyed by its robust technological infrastructure and widespread adoption of advanced technologies across various industries. As APAC economies continue to advance and embrace SLS technology, the region is poised to emerge as a significant player in the global SLS equipment market landscape.
Major players in the SLS Equipment Companies include 3D Systems Corporation (US), EOS GmbH (Germany), Farsoon Technologies (China), Prodways Group (France), Formlabs, Inc. (US), Sinterit sp. z o.o. (Poland), Renishaw Plc. (UK), Sintratec AG (Switzerland), Sharebot S.r.l. (Italy), Natural Robotics (Spain), Ricoh Company, Ltd. (Tokyo), Z Rapid Tech (China), Concept Laser GmbH (Germany), Aerosint (Belgium), XYZ Printing, Inc. (Taiwan), Dynamic Tools (Spain), Aspect Inc (Japan), and Red Rock SLS (Russia).
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