In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global 3D Printing Market Report
The 3D printing market by revenue is expected to grow at a CAGR of over 18% during the period 2019–2025.
The global 3D printing industry has been on a stable growth path over the last decade. 3D printing has opened a plethora of opportunities for mankind. It is permeating many industries and sectors, thereby creating ways to explore new products. The 3D printing market has been growing tremendously in the last decade, and it is witnessing investments by both public and private enterprises. Several governments across the world are keen to invest in this domain, and they have already started investing in the same. The US, UK, Germany, France, and China are the leading countries with the highest adoption and investment rates. The automotive industry is expected to expand at the fastest pace because of the growing acceptance of the technology in automotive part manufacturing. 3D printing technology is largely adopted in the aerospace and defense sectors. The aircraft industry is among the early adopters of the technology.
3D printing continues its industrialization journey despite the outbreak of the COVID-19 pandemic. It is supporting the battle against the COVID-19 pandemic. As many hospitals struggle to get critical medical supplies, this technology has emerged as a solution that enables a quick response to certain supply chain shortages. The agility offered by 3D printing can be useful not only during this pandemic. 3D printing materials for medical applications must be developed for medical environments, meaning that they must withstand high temperatures and be biocompatible. While such materials do exist on the 3D printing market, their variety is much lower than that of more common thermoplastics.
The following factors are likely to contribute to the growth of the 3D printing market during the forecast period:
- Developing Sustainable Future with 3D Printing
- Scalability from Rapid Prototyping to Production
- Accelerated Growth due to 3D Printing Software Evolution
- Increased Initiatives and Spend by Government Agencies
The study considers the present scenario of the 3D Printing market and its market dynamics for the period 2019_2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
3D Printing Market Segmentation
The global 3D printing market research report includes a detailed segmentation by component, end-user, application, process, and geography. 3D printers have grown exponentially in recent years as they become cheaper, more efficient, and more capable. The demand for faster speed and higher printing reliability has driven manufacturers to shift their focus on metal 3D printing to production applications. The industrial 3D printing market is growing at a significant rate around the globe, particularly in developed economies as large manufacturers are likely to use this technology to reduce production costs. Electrics and electronics, food and beverage, aerospace, automobile, and healthcare are the main end-users of commercial printers.
The industrial machinery industry is the largest revenue-generating segment. The demand for 3D printing in this industry is growing as the industry is witnessing a slow shift toward efficient production techniques and optimum resource utilization. The UK and Switzerland are the leading countries in the overall manufacturing climate, followed by the US, Japan, and Canada due to their strategies, cost factors, labor contributions, and infrastructure.
The aerospace and defense industry has been an early adopter of this technology and continues as a contributor to market growth. The demand for this technology in the aerospace industry is expected to increase during the forecast period owing to the high standard of parts performance and accuracy.
3D printing can be particularly useful for prototyping of jewelry design, architecture, or electronics in the manufacturing of mechanical components, cases, architectural templates, props, and practical consumer goods. Rapid prototyping is a cost-effective option for almost any 3D concept from small pieces to massive outputs. The increasing application in healthcare, manufacturing, and construction, and consumer goods and electronics is expected to drive the 3D printing market in prototyping.
The increase in consumer electronics consumption is expected to increase the demand for the tooling segment. The focus on product customization fuels the requirement for new molds and dyes designed for the manufacturing of products. In addition, the growth of renewable energy systems requires sophisticated and professionally designed dye molds and machine tools to produce parts. Owing to the demand for product customization, the increased use of consumer electronics and electrical appliances, and the growth in renewable energy, the demand for equipment is projected to rise at a remarkable pace during the forecast period. Furthermore, advancements such as penetration of IoT and automation are projected to offer several lucrative opportunities during the forecast period.
Segmentation by Component
BY Machine Type
- Ceramic and Others
- 3D Printing Software
- 3D Materials
- 3D Printing Services
Segmentation by End-user
- Industrial Machinery
- Aerospace & Defense
- Consumer Products
Segmentation by Application
- Functional Part Manufacturing
Segmentation by Process
- VAT Polymerization
- Powder Bed Fusion
- Material Jetting
Insights by Geography
The 3D printing services market in North America thrives on the ongoing surge in industrial automation in the region. It is witnessing a healthy growth of industries such as manufacturing, chemicals, and energy. The US is the largest market for industrial 3D printers in the world followed by Japan, Germany, and China. Industries are open toward the adoption of these printers as systems for rapid prototyping. The deployment of such printers could save such costs while demonstrating higher efficiency, greater flexibility, and reduced waste at the same time. Thus, these devices are witnessing demand from the manufacturing industry in the country. The efficient use of materials, along with minimized human errors, product customization, and reduced production time and cost, is the main driving factor in the market. However, the high cost of software and the lack of skilled labor limit the growth of 3D printing market share in North America.
Segmentation by Geography
- South Korea
- Saudi Arabia
- Saudi Arabia
INSIGHTS BY VENDORS
The 3D printing industry is growing, with new companies and investors investing in the market. The introduction of new 3D hardware printing firms has turned the market more dynamic, thus more profitable than ever. The 3D printing market remains a diverse environment, with technology not generally interconnected around each of the core segments. Therefore, greater connectivity is required, which is an important prerequisite for 3D printing as a digital production technology. Businesses are adopting this technology as part of digital transformation strategies, as the COVID-19 pandemic threatens to impact processes and create supply chain shortages. Digitization provided by this technology will provide companies the efficiency and agility they need to fix supply chain challenges and change consumer demands.
- 3D Systems
- ARC Group
- EOS GmbH
- Proto Labs
- SLM Solutions Group AG
- GE Additive
- Desktop Metal
Other Prominent Vendors
- 3D Hubs
- Aleph Objects
- Cookson Precious Metals (Cooksongold)
- New Kinpo Group
- Beijing Tiertime Technology
- Groupe Gorg?
- Koninklijke DSM
- Mcor Industries
- Nano Dimension
- Prototype Projects
- Ricoh Company
Key Questions Answered
- What is the global 3D printing market size and growth rate during the forecast period?
- What are the factors impacting the growth of the 3D printing market shares?
- How is the growth of the industrial machinery segment influencing the growth of the 3D printing market trends?
- Who are the leading vendors in the 3D printing market, and what is their market share?
- What is the impact of the COVID-19 pandemic on the 3D printing market?