Kai-Uwe Wellner, Kariena Strydom

Abstract

Midsize Companies (MCs), characterised by their small ownership structures and limited recognition, have significantly contributed to the economy over many years, offering valuable insights into the factors contributing to their success. Successful MCs often evolve into Hidden Champions (HC), becoming leaders in niche markets. These companies are more prevalent in Germany, known as the classical Mittelstand, than in the United States of America (USA), highlighting a potential cultural influence on their establishment and growth. This study examines two midsize companies in the three-dimensional (3D) printing sector: 3D Systems Inc. from the USA and SLM Solutions AG from Germany. By analysing both financial and non-financial performance indicators, this research identifies notable distinctions in maturity levels, market strategies, customer bases, and other operational aspects. Additionally, the study explores how cultural differences, as defined by Hofstede’s dimensions, impact the operations of these companies within their respective national contexts. The dynamic nature of the 3D printing industry provides a rich context to investigate what differentiates American and German MCs within this sector. The paper concludes that substantial long-term investment in research and development is essential for the 3D printing industry to achieve profitability in a more mature phase.