HP Eyes to Tap India’s Manufacturing Industry

Originally published at Business Standard.

HP looks to tap manufacturing firms, startups for 3D printing products

HP Inc. is eyeing to tap India’s manufacturing industry for its 3D printers.

The US-based company has just introduced its new Jet Fusion 300/500 series of 3D printers, which the firm said, would enable manufacturers to produce engineering-grade and functional parts in full color in much lesser time.

“We are super excited about the opportunity in India, particularly around the broader manufacturing agenda in the country,” said Rob Mesaros, Head, 3D printing and digital manufacturing, HP Asia Pacific and Japan. “This presents incredible opportunities for 3D printing in the country.”

Sumeer Chandra, managing director, HP Inc. India, said the country would be a $5-trillion-economy by 2025 by when the manufacturing sector is expected to grow to a $1 trillion industry as compared to $300 billion now. “We are quite strong in high engineering products and this is where 3D printing has a sweet spot and that is why we are so excited about it in India,” said Chandra.

In India, the company said, it is seeing huge traction in areas such as automotive, healthcare and defence for its 3D printing technology. It is in talks with more than 200 customers in the country to sell these products.

“There is a big focus on indigenisation in the defence segment. We do believe the defence will be a very important vertical for us going forward,” said Sumeer Chandra, managing director, HP Inc., India.

The firm is also offering the 3D printing technology to startups, small and medium-sized product development teams, universities and research institutions in the country. HP Inc. has tied up with resellers, including Mumbai-based Imaginarium, Noida-based Adroitec, and Chennai-based Redington for 3D printers. A small and medium business can get access to HP’s 3D printing technology without having to buy the product.

The company already counts John F. Welch Technology Center (JFWTC) of GE in Bengaluru and Andhra Pradesh MedTech Zone (AMTZ) among its top customers for 3D printing products. JFWTC is utilizing the printers for research and development purposes while AMTZ is using those to provide end-to-end 3D printing services.

Globally, the 3D printing market is expected to be worth $32.78 billion by 2023, at a CAGR of 25.76 per cent between 2017 and 2023, according to research firm MarketsandMarkets. The growth is attributed to the factors such as the ease of development of customized products, ability to reduce overall manufacturing costs, and government investments in the 3D printing projects among others.

The products that can be made using 3D printing technology are innumerable, ranging from dental devices, custom-fit shoes for athletes to spare parts for fighter aircraft. The US Air Force recently revealed that it installed a titanium 3D printed replacement component on a F-22 Raptor stealth fighter aircraft.