Binder Jet Market Segmentation:
Component Segment Analysis
The hardware segment is expected to hold 50% share of the binder jet market during the forecast period. Rapid prototyping and enhanced production methods have gained significant importance, that helped the hardware sector greatly. The main factors driving the expansion include growing consumer electronics penetration, developing civil infrastructure, and reduced labor costs. It is anticipated that the growing trend of creating small-scale enterprises for these services would encourage category expansion.
End-Use Segment Analysis
The automotive segment of the binder jet market is anticipated to hold the largest revenue share, about 42%, during the forecast period. The market growth is majorly attributed to the rising demand for customization in the automotive sector. The technology’s ability to produce cost-effective custom parts with shorter lead times is driving its adoption in automotive manufacturing, further solidifying its dominance in the market. For instance, in March 2021, Ford Motor Company and the ExOne Company developed a patent-pending process for rapid and reliable binder jet 3D printing and sintering of aluminum that delivers properties comparable to die casting.
Our in-depth analysis of the global binder jet market includes the following segments:
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