USD 5.12 Billion
Metal 3D Printing Market Size, Share, Growth Analysis, By Component(Hardware, Software, and Services), By Technology(Selective Laser Sintering, Direct Metal Laser Sintering, Inkjet printing, Electron Beam Melting), By Software(Design Software, Inspection Software, Printer Software, and Scanning Software), By Application(Prototyping, Tooling, and Functional Parts), By Printer Type(Desktop Metal 3D Printer, and Industrial Metal 3D Printer), By Vertical(Desktop Vertical, and Industrial Vertical), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2191 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
175
|Figures:
79
Metal 3D Printing Market Insights
Metal 3D Printing Market size was valued at USD 5.12 Billion in 2021 and is poised to grow from 6.36 billion in 2022 to 35.33 billion by 2030, growing at a CAGR of 24.2% during the forecast period (2023-2030).
Metal 3D printing is one such industry that the demand for quick prototyping and cutting-edge production methods has grown. The sector is anticipated to increase extraordinarily during the projection period as a result of the rising application of additive manufacturing across many different company sectors. The worldwide market is consolidating more and more as a means of staying ahead of the competition. One advantage of increased innovation, that is a significant growth factor for this market, is the usage of metal 3D printing in heavy industry applications.
A major growth-promoting aspect is the rising use of metal 3D printers for prototype and product design, together with their lower cost of production and high level of precision. The healthcare, automotive, & aerospace and defense industries are expected to generate the most of the market's high demand. The healthcare industry is evolving rapidly to address physical limitations and promote healthy living, which is encouraging it to adopt new cutting-edge techniques like 3D printing.
Furthermore, industries such as aerospace and automotive, where prototyping and design play a crucial part in research and development to attain perfection in their production, are leading to larger potential and increasing acceptance of the 3D printing technique.
However, the adoption of the technology of additive manufacturing is being hampered by the widespread misunderstandings small and medium-scale firms have about the prototype procedures. Instead of attempting to comprehend the benefits and benefits of prototyping, businesses involved in design, especially small and medium-sized organizations, are hesitating before considering expenditures in prototyping as responsible investments.
These businesses generally hold the belief that prototypes are only a costly stage before manufacturing. Such misconceptions about prototypes, in addition to a lack of technical expertise and an impending shortage of standardized process controls, are anticipated to restrain the market's expansion.
The COVID-19 pandemic outbreak has had a major effect on the world economy as a whole and, consequently, the 3D printing sector. In the beginning, Europe and Asia-Pacific were among the areas with the greatest number of COVID-19 patients worldwide. Additionally, things became worse over in the United States. The governments released an order for the total lockdown of some important cities due to the virus' quick spread.
Production in the 3D printing sector is affected by the lockout as a whole. This is attributable to the country's severe labor shortage and total disruption of logistics and production systems. The first & second quarters' total market growth were negatively impacted by the 3D printing industry's production standstill.
US Metal 3D Printing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Design Software
Fastest Growth
Design Software
Growth Rate
24.2% CAGR
Global Metal 3D Printing Market ($ Bn)
Country Share for North America Region (%)
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Metal 3D Printing Market Segmental Analysis
The global metal 3D printing market is classified on the basis of component, technology, software, vertical, and region. Based on component, the market is segmented into Hardware, Software, and Services. Based on technology, the market is segmented into Selective Laser Sintering, Direct Metal Laser Sintering, Inkjet printing, Electron Beam Melting, Laser Metal Deposition, Laminated Object Manufacturing, Electron beam freeform fabrication, and Selective Laser Melting. Based on Software, the market is segmented into Design Software, Inspection Software, Printer Software, Scanning Software. Based on Application, the market is segmented into Prototyping, Tooling, Functional Parts. Based on Printer Type the market is segmented into Desktop Metal 3D Printer, Industrial Metal 3D Printer. Based on Vertical, the market is segmented into Desktop Vertical, Industrial Vertical. Based on region the global Metal 3D Printing Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Metal 3D Printing Market Analysis by Technology
In 2022, Selective Laser Melting (SLM) technology dominated the market and generated 23.77% of global revenue. Although the benefits and simplicity of the SLM technology encourage its adoption, other effective and dependable technologies are now having opportunities due to technological advancements and aggressive efforts to conduct research and development made by experts in the industry and researchers.
EBM also contributed a sizable portion of income in 2022 because the technology was widely used in various metal 3DP procedures. Due to its use in specialized additive manufacturing techniques, the DMLS, EBF3, & SLS are also anticipated to have substantial adoption over the projected period. Opportunities for the use of these technologies would arise from the vertical markets of healthcare, aerospace and defense, and automobiles.
Metal 3D Printing Market Analysis by Software
In 2022, design software dominated the market & accounted for 36.71% of global sales. Particularly in the automotive, aerospace and defense, construction and engineering verticals, design software is utilized to create the designs of the product to be printed. The hardware of the printer is connected to the objects that will be printed via design software.
In accordance with the increasing utilization of scanners, the scanner software segment is anticipated to experience rapid expansion and create significant revenues during the projection period. The segment's market size is anticipated to increase between 2023 and 2030 at a compound annual growth rate (CAGR) of 23.3%.
The demand for scanning programmes is predicted to rise as the practice of scanning objects and preserving scanned documents spreads. Over the forecast period, the capacity to retain scanned images of things, regardless of their size or dimensions, enabling 3-dimensional manufacturing of these objects as needed is anticipated to drive segment expansion in scanner software.
Global Metal 3D Printing Market By Component
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Metal 3D Printing Market Regional Insights
North America held the most revenue share, 34.33% in 2022 due to the region's substantial use of additive manufacturing. In a number of manufacturing processes, the U.S. & Canada have been among the most famous and pioneering users of this technology. The local market offers lucrative opportunities for metal 3D printing for a range of applications.
Asia Pacific is anticipated to increase significantly and at the greatest CAGR during the projection period. This quick uptake of metal 3D printing is due to improvements and innovations made throughout the local manufacturing sector. The area is also developing as a manufacturing center for the healthcare and automotive sectors. Rapid urbanization and a dominance on consumer electronics manufacturing are further factors boosting three-dimensional printing demand in the area.
Global Metal 3D Printing Market By Geography
- Largest
- Fastest
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Metal 3D Printing Market Dynamics
Metal 3D Printing Market Drivers
Design Flexibility
- Metal 3D printing enables the production of complex geometries and intricate designs that are difficult or impossible to achieve through traditional manufacturing methods. This design freedom attracts industries such as aerospace, automotive, and healthcare, driving the market's growth.
Metal 3D Printing Market Restraints
Limited Production Volume
- While metal 3D printing offers great flexibility, it may not be suitable for high-volume production due to its slower printing speed compared to traditional manufacturing methods. Industries requiring large-scale production may find limitations in adopting metal 3D printing for their needs.
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Metal 3D Printing Market Competitive Landscape
The players in the market are constantly improving the technology in response to the increasing demand for metal 3D printing uses from the manufacturing sectors of aerospace & defense, healthcare, and automotive. One of the prominent participants in the market are Materialize NV, along with 3D Systems, Inc., GE Additive, Autodesk Inc., and Optomec, Inc.
In order to increase their geographic reach and seize the expanding market potential, some significant businesses are increasingly engaging in mergers and acquisitions alongside the new industry entrants. Like the purchase of Volumetric Biotechnology by 3D Systems in 2021. A biotech business established in Huston is called Volumetric Biotechnologies. With the aid of additive manufacturing (AM), the acquisition will assist 3D Systems in developing production capabilities for completely biocompatible human organs.
Metal 3D Printing Market Top Player’s Company Profiles
- EOS GmbH
- GE Additive
- SLM Solutions Group AG
- Concept Laser GmbH
- Renishaw plc
- Stratasys Ltd.
- 3D Systems Corporation
- HP Inc.
- Materialize NV
- Trumpf GmbH + Co. KG
- DMG Mori Aktiengesellschaft
- Velo3D
- Desktop Metal Inc.
- Markforged Inc.
- Additive Industries
- Xact Metal
- ExOne Company
- Nano Dimension Ltd.
- Optomec Inc.
- Prodways Group
Metal 3D Printing Market Recent Developments
- In April 2023: Velo3D announced the release of its software version 5.0, offering enhanced print preparation capabilities, improved parameter development, and increased support for a wider range of metal alloys.
- In March 2023: Stratasys Ltd. introduced its new metal 3D printing system, the H350, leveraging its proprietary Layered Powder Metallurgy (LPM) technology to enable high-speed printing of metal parts.
Metal 3D Printing Key Market Trends
- Increased Adoption in Aerospace and Defense: The aerospace and defense sectors have been early adopters of metal 3D printing due to its ability to produce lightweight, complex, and customized components. The trend of using metal 3D printing for aerospace applications is expected to continue to grow.
- Expansion into Automotive Industry: The automotive industry is increasingly exploring metal 3D printing for prototyping, tooling, and production of high-performance components. This trend is driven by the need for lightweight parts, improved fuel efficiency, and design optimization.
- Growing Medical and Dental Applications: Metal 3D printing has gained significant traction in the medical and dental fields. It is used for manufacturing patient-specific implants, surgical instruments, prosthetics, and dental restorations, enabling personalized and optimized solutions.
- Advancements in Materials: The development of new metal powders and alloys suitable for 3D printing is expanding the range of materials available. This includes high-performance metals like titanium, aluminum, stainless steel, and nickel-based alloys, enabling a wider array of applications.
- Integration of Industry 4.0 Technologies: Metal 3D printing is being integrated into the broader context of Industry 4.0, incorporating technologies like automation, robotics, artificial intelligence, and data analytics. This integration improves efficiency, quality control, and scalability of metal 3D printing processes.
- Focus on Post-Processing and Finishing: As metal 3D printing matures, there is increasing emphasis on developing efficient post-processing techniques to achieve desired surface finishes, tolerances, and mechanical properties. Companies are investing in solutions that streamline post-processing steps and reduce time and cost.
Metal 3D Printing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global metal 3D printing market analysis, the demand for quick prototyping and cutting-edge production methods has grown significantly in the past few years. This industry is anticipated to increase extraordinarily during the projection period as a result of the rising application of additive manufacturing across many different company sectors. The worldwide market is consolidating more and more as a means of staying ahead of the competition. One advantage of increased innovation, that is a significant growth factor for this market, is the usage of metal 3D printing in heavy industry applications. However, Asia Pacific is anticipated to increase significantly and at the greatest CAGR during the projection period. This quick uptake of metal 3D printing is due to improvements and innovations made throughout the local manufacturing sector. The area is also developing as a manufacturing center for the healthcare and automotive sectors.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 5.12 Billion |
| Market size value in 2031 | 5.12 Billion |
| Growth Rate | 24.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | 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 Metal 3D Printing 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 Metal 3D Printing 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 Metal 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 Metal 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.
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 Metal 3D Printing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Metal 3D Printing 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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