USD 12.5 billion
Global 3D Printer Market Size, Share, Growth Analysis, By Offering (Printers, Materials, Software, Services), By Technology (FDM, SLA). Application (Prototyping, Tooling), By Process (Powder Bed Fusion, Vat Photopolymerization), By Vertical (Automotive, Printed Electronics), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2073 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
63
|Figures:
75
3D Printer Market Insights
Global 3D Printer Market size was valued at USD 12.5 billion in 2022 and is poised to grow from USD 14.8 billion in 2023 to USD 47.9 billion by 2031, growing at a CAGR of 15.5% during the forecast period (2024-2031).
The demand for online 3D printing for simulation purposes is being fueled by rapidly increasing digitization and increasing adoption of advanced technologies like Industry 4.0, smart factories, robotics, and machine learning, among others. These technologies make it more likely that this technology will be used in a wider range of fields, including healthcare, aerospace, and automotive, among others. Additive manufacturing (AM) is the term used to describe the use of 3D printing in manufacturing.
Using software and a three-dimensional printer, additive manufacturing involves layer-by-layer addition of material to create an object, also known as a three-dimensional file. To carry out the procedure, a suitable 3D printing technology is chosen from among the available options. The final step is to apply this procedure to various industry sectors according to the need. Installation services, solutions for consultation, customer support, and management of copyright, licensing, and patenting issues are all part of the deployment. Manufacturers are benefiting from 3D printing in terms of prototyping, structure and product design, modeling, and time to market. As a result, production costs have decreased significantly, allowing manufacturers to offer higher-quality goods at reasonable prices. It is anticipated that the demand for 3D printers will increase in the coming years as a result of these advantages.
US 3D Printer Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
hardware
Fastest Growth
software
Growth Rate
15.5%
3D Printer Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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3D Printer Market Segmental Analysis
The Global 3D Printer Market is segmented by Offering, Technology, Application, Process, and Vertical. By Offering, the market is divided into Printers (Desktop Printers and Industrial Printers), Materials (Plastic, Metal, Ceramics, Others), Software (Design, Inspection, Printing, Scanning), and Services. By Technology, the market is categorized into Fused Deposition Modelling (FDM), Stereolithography (SLA), Selective Laser Sintering (SLS), Poly-jet Printing/Multi-jet Printing (MJP), Electron Beam Melting (EBM), Digital Light Processing (DLP), Direct Metal Laser Sintering (DMLS), and Other Technologies. By Application, the market is segmented into Prototyping, Tooling, and Functional Part Manufacturing. By Process, the market is categorized into Powder Bed Fusion, Vat Photopolymerization, Binder Jetting, Material Extrusion, Material Jetting, and Other Processes. By Vertical, the market is segmented into Automotive, Aerospace & Defense, Healthcare, Architecture & Construction, Consumer Products, Education, Industrial, Energy, Printed Electronics, Jewelry, Food & Culinary, and Other Verticals. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
3D Printer Market Analysis of Component
Based on the Component, Hardware for manufacturing 3D printed materials is currently at an all-time high and is likely to remain dominant throughout the forecast period. Major key players are expanding their product lines and introducing new technologies to meet the high demand from a variety of industry sectors, which is driving up the demand for hardware. The expansion of the market is being aided by investments made by businesses in R&D activities.
During the forecast period, a high CAGR is anticipated for the software. The software for 3D printing is widely used in a variety of industry sectors to design the parts and objects that will be printed. The use of 3D software to print iterations of various manufacturing parts has increased as manufacturing companies abandon traditional manufacturing techniques.
3D Printer Market Analysis by Technology
Based on the technology, In 2021, fused deposition modeling (FDM) technology accounted for the majority of these. The technology's advantages and ease of use are primarily responsible for its expansion. Parts that are dimensionally stable, durable, and strong are often made using FDM technology.
During the forecast period, Direct Metal Laser Sintering (DMLS/SLM) technology is anticipated to expand at a high CAGR. Because the technology makes it easier to make high-quality metal parts, it's good for the manufacturing industry because it makes it possible to make complex metal shapes with very small sizes. In the coming years, Selective Laser Sintering (SLS) is anticipated to see significant growth. SLS is used in a wide range of vertical applications, including automotive, aerospace, and defense. In the coming years, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM technologies are anticipated to see significant adoption increases.
3D Printer Market Size By component type, 2021-2028 (%)
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3D Printer Market Regional Insights
North America held the largest share of the global 3D printer market in 2021, primarily as a result of rising spending on advanced manufacturing technologies by developed nations like Canada and the United States. Additionally, a number of government agencies, like the National Aeronautics and Space Administration (NASA), have identified significant investments in research and development that have the potential to significantly contribute to space applications and the development of new technologies that drive business expansion.
In the market, Europe has the second-highest market share. Small and medium-sized businesses, which require fast, dependable, and inexpensive prototypes for manufacturing, have a significant demand for this technology. The manufacturing and semiconductors industries are expected to rapidly adopt this technology in the regional market.
During the forecast period, Asia-Pacific is anticipated to expand at the highest CAGR. Manufacturers in APAC and governments in the region have supported the implementation of a number of policies and legislative proposals and an increasing interest in the creation of a sustainable environment for 3D printing. China may be the driving force behind Asia's adoption of this technology given the significant funding provided by the government for the sector.
During the forecast period, high growth is expected in Latin America and the Middle East. The manufacturing industry's technological advancements and improvements are largely to blame for the region's rapid adoption of 3D technology.
3D Printer Market By Geography, 2021-2028
- Largest
- Fastest
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3D Printer Market Dynamics
3D Printer Market Drivers
Technological Advancement to Bolster Growth Opportunities
- Digital disruptions are massively affecting advanced manufacturing technologies in many nations worldwide. 3D technology has the potential to be used in the United States. This technology was included in the budget of the United States Department of Defense in 2018 as an important capability. Products aimed at additive and 3D printing manufacturing have been launched by even tech software giants like Autodesk, Microsoft, and HP. In a similar vein, China is putting in a lot of effort to keep the manufacturing industry's competitive index in the global market. Because Chinese manufacturers perceive this technology as both a danger and an opportunity for the Chinese manufacturing economy, they frequently make investments in its research and development. India, on the other hand, sees this technology as a chance to increase its share of the global manufacturing competitiveness. The "Make in India" Initiative and other active government programs support India's market.
3D Printer Market Restraints
High Cost to Hinder Market Growth
- The most significant obstacle to the widespread use of this technology is thought to be the high initial investment costs. Hardware, software, materials, certification, additive and manufacturing education, and employee training are all included in this investment. When compared to conventional printing methods, the capital costs and resources required to set up a three-dimensional system are quite expensive. However, manufacturers are assisting end users in reducing the high initial costs by introducing the industrial Desktop 3D printer. In comparison to the three-dimensional system, desktop printers are less expensive and easier to operate.
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3D Printer Market Competitive Landscape
The major market players are concentrating on providing cutting-edge and novel solutions that meet the expanding requirements of industries.In order to provide cutting-edge products and services, these major players are making investments in R&D.In order to provide solutions of the next generation, they are entering into a strategic partnership and working together.In order to support business expansion, these businesses are providing solutions that are focused on the needs of customers.In a similar vein, the major players want to provide a wide variety of three-dimensional materials for use in every industry.
3D Printer Market Top Players Company Profiles
- Stratasys
- 3D Systems, Inc.
- HP Development Company, L.P.
- EOS GmbH
- General Electric
- Materialise NV
- Desktop Metal, Inc.
- voxeljet AG
- SLM Solutions
- Renishaw plc.
- Protolabs
- Optomec, Inc.
- Prodways Group
- Ultimaker
- Tiertime
- Hoganas AB
- UnionTech
- Nexa3D
- Trumpf
- Formlabs
3D Printer Market Recent Developments
- In March 2022, South Africa’s Department of Science and Innovation (DSI) launched a pilot project to build around 25 houses by utilizing 3D printing technology to combat the shortage of housing in the country.
- In March 2022, 3DGence, a European manufacturer, launched a new industrial FFF machine, INDUSTRY F421, which is well-suited with high performance materials. Additionally, the firm has also introduced AS9100, a new high-temperature filament, which is made using polyether ether ketone (PEEK) and certified for use in defense and aerospace sectors.
3D Printer Key Market Trends
- New technologies are being upgraded and developed by established market players and tech-savvy startups. 3D printers for production have become more efficient and dependable as a result of hardware advancements .One of the most widely used 3D printers is the polymer printer.
3D Printer Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our global 3D printer market analysis, This market is expanding as a result of reasons such as manufacturers' increasing need to produce complicated parts, lower manufacturing costs, and decrease waste, as well as advancements in product development and supply chain management.
Additionally, the increasing production of functional end-use parts using 3D printers as well as composite 3D printing present lucrative market expansion prospects. Production of spare parts on demand, a rise in the number of customized items, and the application of AI in 3D printing are some of the significant developments that could assist the expansion of this market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.5 billion |
| Market size value in 2031 | USD 47.9 billion |
| Growth Rate | 15.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on 3D Printer Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on 3D Printer Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 3D Printer Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the 3D Printer Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the 3D Printer Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the 3D Printer Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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