Enjoy complimentary customisation on priority with our Enterprise License!
The Global 3D Printer Market size is estimated to grow by USD 25,095.58 million between 2022 and 2027 accelerating at a compound annual growth rate (CAGR) of 23.49%. The growth of the 3D printing market depends on several factors, including the increase in consumer interest in 3D customized products, the increasing investments in additive manufacturing, and the emphasis on reducing time-to-market.
This 3D printer market research report extensively covers market segmentation by product (industrial 3D printer and desktop 3D printer), technology (fused deposition modelling, selective laser sintering, stereolithography, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
To learn more about this report, Request Free Sample
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the data centre market growth is the increase in consumer interest in 3D customized products. Rising interest in customized 3D products either by ordering the product from the companies that provide customized products or by purchasing a desktop 3D printer, which will help them in designing and developing the 3D printed products in-house. Moreover, desktop 3D printers are becoming more affordable, due to which individual consumers are printing expensive products such as toys and home decor. However, the customization of products comes at a high cost. Consumers with a high disposable income are willing to invest in 3D printers, and other consumers are availing of the services offered by online vendors for customized products.
Similarly, Materialize is an online 3D printing marketplace where customers can upload their 3D designs and choose from hundreds of different materials and finishes. Besides, rising interest of industry professionals in 3D printers to develop customized products and to reach the expectations of the customers to serve them better and increase profits. For such reasons, the increase in consumer interest in 3D customized products is expected to fuel the growth of the global 3D printing market during the forecast period.
An increase in 3D printing outsourcing is another factor supporting the market growth in the forecast period. Outsourcing 3D printing is the business of hiring a third party to generate goods and services on behalf of a firm. Outsourcing is typically used to reduce the expenses of various production processes. Prototypes and production runs are both outsourced 3D printing projects. Many engineers and designers are abandoning their internal printers in favour of an external service provider due to 3D printing companies which can guarantee 24-hour production/delivery.
Furthermore, due to a scarcity of equipment, there is a considerable surge in outsourced 3D printing. For instance, a corporation may have an SLA machine that prints resin parts, but if it wants to 3D print a metal part, it will need to invest in a metal printer, which is more expensive. Thus, outsourcing is the best option in such cases. Another reason for outsourcing is the lack of the right knowledge and experience to operate the machine and set up the right mix of materials.
The high cost of training the workforce is another factor impeding the market growth. Basic training on 3D printers and the types of technologies and technical training are necessary at various levels such as designers, manufacturers, and consumers. Moreover, technical training helps the workforce understand the depth of technologies and helps decision-makers understand the ways of utilizing additive manufacturing. One of the main advantages of using additive manufacturing is the enhancement of the supply chain.
Furthermore, advanced training must be given to understand material handling, preprocessing, and post-processing. However, the cost of training is high as 3D printers and their materials come at a high cost, which directly impacts the cost of training among the different levels of the workforce. Therefore, the high cost of training the workforce in additive manufacturing is expected to hinder the growth of the global 3D printing market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global 3D Printer Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the 3D printing market.
eos.info - The company offers 3D printers such as DMLS EOS metal 3D printers. Also, the company is a supplier of equipment, materials, and solutions in the field of laser sintering technology and a generative manufacturing method of 3D printing.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the industrial 3D printer segment will be significant during the forecast period. The industrial 3D printer segment was the largest segment of the global 3D printer market in 2022 and is expected to remain the same during the forecast period. The major reason for the domination of the industrial 3D printer sector is the increasing adoption of industrial 3D printers for designing, prototyping, and tooling in several industries, such as aerospace and defense, automotive, consumer electronics, and healthcare.
Get a glance at the market contribution of various segments Request a PDF Sample
The industrial 3D printer segment was valued at USD 5,471.93 million in 2017 and continue to grow by 2021. In the aerospace industry, additive manufacturing is used to develop various components such as jet engines, injectors, valves, and several others, as it is almost impossible to imagine the manufacturing of components with a complex design using traditional manufacturing techniques. Hence, the aerospace industry is exploring various options for using additive manufacturing. Moreover, SpaceX claims that a rocket engine main oxidizer valve can be printed in just two days using additive manufacturing technology. This clearly shows that the use of additive manufacturing can significantly increase production and save time. The increase in the use of additive manufacturing will drive the segment during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
North America is estimated to contribute 36% to the growth of the global 3D printing market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America was the largest geographical segment of the market in 2022 and will continue to be the largest segment of the market during the forecast period. North America has a higher market share than Europe and APAC, owing to an increase in government investments and the growing demand for 3D printers in the aerospace and defense, consumer electronics, and healthcare sectors. The increasing investments by governments and industry participants in additive manufacturing are accelerating the development and adoption of 3D printers in the region. The high growth potential of additive manufacturing is encouraging industry participants to enter into strategic partnerships to tap the potential market.
In 2020, North America was one of the most severely affected regions by the pandemic. However, due to the rising number of COVID-19 cases and the shortage of PPE kits, many vendors developed PPE and other essential devices amidst the COVID-19 outbreak. Moreover, the initiation of large-scale vaccination drives, the lifting of lockdown restrictions, and the resumption of supply chain operations of 3D printers restored the growth of the market in 2021. The resumption of operations in end-user industries, such as automobile and aerospace, revived the demand for 3D printers in the region. Moreover, growth in the regional economy and financial stimulus packages by the governments to recover major industries from COVID-19 repercussions will drive the growth of the regional 3D printing market during the forecast period.
The 3D printer market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
|
3D Printer Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
173 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 23.49% |
|
Market growth 2023-2027 |
USD 25,095.58 million |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
22.33 |
|
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 36% |
|
Key countries |
US, Canada, China, Germany, and UK |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
3D Systems Corp., Autodesk Inc., Desktop Metal Inc., EOS GmbH, Formlabs Inc, General Electric Co., HP Inc., JINHUA WANHAO SPARE PARTS CO. LTD., Materialise NV, N3 Technologies Inc., Nano Dimension Ltd., Organovo Holdings Inc., Proto Labs Inc., SLM Solutions Group AG, Stratasys Ltd., Ultimaker BV, voxeljet AG, XYZPRINTING Inc., YFC BonEagle ELECTRIC CO. LTD., and Zhejiang Flashforge 3D Technology Co. Ltd. |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
