Costs for 3D printers are expected to go way down in the next five to 10 years. (Photo : REUTERS)
China is set on helping XYZprinting company achieve an unprecedented sales of 1 million 3D printers worldwide within three years. By 2016, China wants to surpass the United States and Europe as the biggest regional market for 3D printers.
This year, XYZprinting's goal is to sell at least 100,000 3D printers as it expands to China and the U.S. Interested consumers can get the breakthrough printers starting from 3,999 yuan.
Expecting a huge demand from its Chinese market, the chairman of the company, Simon Shen, shared that it already started the production of these printers in the provinces of Suzhou and Dongguan.
The chairman also unveiled plans on how to increase its profits. The chairman shared that it would enter the semi-professional market and target industrial users with their new products.
"The technological development has made 3D printer interesting gadgets instead of expensive equipment in the labs," Shen said. He also added that the industries of design, jewelry and medicine would all be able to benefit.
XYZprinting might face stiff competition from U.S.-based 3D printer giants, which have already launched cheaper 3D printers designed for family use. An example of these devices is MakerBot that costs 10,999 yuan and is being sold at the online shopping site JD.com.
Global sales of 3D printers are expected to reach 2.3 million units by 2018, 10 times more than the current sale figures. It is also anticipated that by that time, it would not be industrial companies alone that are interested in buying 3D printers, but also ordinary consumers.
