USD 13.84 billion
Report ID: SQSG45I2009 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 205 | Figures: 70
3D Printing Market size was valued at USD 13.84 billion in 2021, and it is expected to reach a value of USD 51.95 billion by 2028, at a CAGR of 20.80% over the forecast period (2022 - 2028).
Global shipments of 3D printers reached 2.2 million units in 2021, and by 2028, 21.5 million units are anticipated to be shipped. The industry is forecasted to grow as a result of aggressive three-dimensional printing research and development as well as the rising demand for prototype applications from different industrial verticals, particularly healthcare, automotive, and aerospace and military.
Additive Manufacturing (AM) is the term most often used to describe the use of 3D printing in industrial applications. With the aid of software and a 3-dimensional printer, additive manufacturing involves adding material layer by layer to create an object from a three-dimensional file. To carry out the process, a pertinent 3D printing technology is chosen from the pool of options. The final step entails implementing this procedure across many industry verticals as necessary. The deployment comprises resolving copyright, licencing, and patenting-related issues as well as supplying installation services, consultation solutions, and customer support. In terms of prototyping, designing the structure and final goods, modelling, and speed to market, 3D printing is advantageous for manufacturers. Because of the significant decrease in production costs, firms are now able to sell superior items for less money. These advantages are anticipated to increase the demand for 3D printers in the upcoming years.
The adoption of additive manufacturing, however, is being hampered by the small and medium-scale manufacturers' pervasive misconceptions about the prototyping procedures. Instead of attempting to comprehend the advantages and benefits of prototypes, businesses engaged in design, especially small and medium-sized businesses, are carefully considering investments before deeming them to be responsible investments. Prototyping is merely seen as an expensive stage before manufacturing among these businesses. Prototyping misconceptions like these, in addition to technical ignorance and a forecasted lack of standardised process controls, are predicted to impede industry expansion.
US 3D Printing Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 13.84 billion
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Global 3D Printing market segmentation by component, printer type, software, technology, application, material, vertical and region. By component, the market is segmented into hardware, software, and services. Based on printer type, the market is segmented into desktop 3D Printer and Industrial 3D Printer. Based on software, the market is segmented into Design Software, Inspection Software, Printer Software, and Scanning Software. Based on technology, the market is segmented into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, and Others. Based on software, the market is segmented into Design Software, Inspection Software, Printer Software, and Scanning Software. Based on application, the market is segmented into Prototyping, Tooling, Functional Parts. Based on material, the market is segmented into polymer, metal, ceramic. Based on vertical, the market is segmented into Automotive, Aerospace & Defence, Healthcare, Consumer Electronics, Industrial, and Others. Based on region, market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
It is anticipated that the industrial printer's category will maintain its dominance during the projection period
The industrial printer segment, which dominated the market, accounted for more than 70% of global revenue in 2021. The widespread use of industrial printers in heavy industries such as automotive, electronics, aerospace and defense, and healthcare can be attributed to industrial 3D printers' considerable market share. Some of the most popular industrial applications across these industry verticals include prototyping, designing, and tooling.
The extensive use of 3D printing for tooling, design, and prototype contributes to the expanding demand in the industrial sector. As a result, the industrial printer category is expected to maintain its dominance during the forecast period. Initially, desktop 3-dimensional printers were exclusively utilized by hobbyists and small businesses. However, they are increasingly being used for domestic and home purposes these days. Desktop printers are also utilized for technical training and research in the education sector, which includes universities, educational institutions, and schools.
The metal segment is likely to maintain its dominance throughout the forecast period
In 2021, the metal segment dominated the 3D printing market, accounting for more than 50% of global revenue. Additionally, the metal segment is likely to maintain its dominance throughout the forecast period. The industry has been further divided into three groups based on material: polymer, metal, and ceramic. The second-largest revenue share in 2021 was contributed by the polymer segment. The ceramic material market is anticipated to expand significantly during the coming years. Given that ceramic additive manufacturing is still relatively new, the growing R&D for 3D printing technologies like FDM and inkjet printing has resulted in a rise in demand for ceramic AM.
Hardware segment dominated the market
In 2021, the hardware segment dominated the market accounting for more than 60% of total 3D printing market revenue. The demand for sophisticated production techniques and rapid prototyping has greatly benefited the hardware industry. The expansion of the hardware market is mostly credited to a number of factors, including rapid industrialisation, rising consumer electronics penetration, improving civil infrastructure, quick urbanisation, and reduced labour costs. During the forecast period, the software is expected to grow at a rapid pace. 3D printing software is widely used in a variety of industry verticals to design the items and parts that will be printed. The use of 3D software to print prototypes of various manufacturing parts has increased as industries shift from conventional manufacturing techniques.
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In 2021, North America dominated the market and generated more than 30% of global 3D printing market revenue. This is a result of additive manufacturing being widely used in the region. The US and Canada were among the leading and early users of these technologies in a variety of manufacturing processes. Europe is home to a number of industry participants in additive manufacturing that have extensive technical knowledge of the procedures. Hence, in 2021, the European market grew to become the second-largest regional market.
The region of Asia-Pacific is anticipated to grow at the greatest CAGR over the forecast period. Due to improvements made in the region's manufacturing sector, additive manufacturing (AM) has been adopted rapidly in Asia-Pacific. Also, the Asia-Pacific region is developing as a manufacturing powerhouse for the healthcare and automotive sectors. Other factors driving the region's rising three-dimensional printing demand include rapid urbanisation and a stronghold on consumer electronics manufacturing.
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Massive digital disruptions in advanced manufacturing technologies are occurring in several nations throughout the world. Potential users of 3D technology include the United States. Even industry leaders in computer software like Autodesk, Microsoft, and HP have introduced technologies for additive and 3D printing manufacturing. Similar to this, China is working very hard to keep the manufacturing sector competitive in the international market. Chinese firms tend to invest in the research and development of this technology because they perceive it as both a risk and an opportunity for the Chinese industrial economy. India, on the other hand, is eagerly anticipating this technology as a chance to boost its position as a global manufacturing competitor. India's market is supported by active government programmes like the 'Make in India' Initiative. Korea has developed a unique roadmap for this technology's research and development and offers national support to carry it out. The Korean government is speeding industry regulatory agreements and giving financial incentives. Germany has a well-established Industry 4.0 infrastructure; thus, it is expected to design new plans for the technology.
Due to the availability of materials and developments in 3D printing technology, print-on-demand components are increasingly being used to produce specialised functional parts. Utilizing 3D printing, things may be made specifically to the demands and specifications of the customer. The businesses offer specialised services, such as fundamental design development by designers, followed by allowing the clients to co-create the product. The simple production of customised goods is enabled by ongoing technological advancements in available 3D printing technologies, declining printer costs, and the availability of a variety of materials.
The largest barrier to this technology's adoption is reportedly its high initial investment. This investment includes technology, software, supplies, certification, education in additive manufacturing, and employee training. A 3-dimensional system requires more resources and capital outlay than conventional printing techniques. However, the makers are assisting the final consumers in reducing the high starting prices with the development of the industrial desktop 3D printer. Desktop printers are less expensive than 3-dimensional printers and are also simpler to operate and manage.
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The 3D printing market is highly fragmented due to the presence of various small & medium-sized 3D printing manufacturers as well as other established major giants and emerging start-ups. Some well-established players 3D Systems and Stratasys, Ltd. holds a market share of more than 10% in the global 3D printing market.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, with the growing adoption of technology and the upcoming patent expirations, 3D printers are anticipated to become increasingly widespread. Businesses have already begun posting their product files on websites for clients to choose from, after which the things are shipped to the customers. Customers could anticipate more customisation of the things they buy as a result of this increased usage. As consumer usage rises, 3D piracy in which buyers make the products themselves rather than purchasing them from suppliers may also rise.
|Market size value in 2021||USD 13.84 billion|
|Market size value in 2028||USD 51.95 billion|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Billion|
|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)|
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For the Global 3D Printing 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 Global 3D Printing 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global 3D Printing Market:
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