Ottawa, March 06, 2023 (GLOBE NEWSWIRE) -- The 3D printers market size was accounted at USD 17.59 billion in 2022. Deployment of 3d printers in surgical planning to revolutionize the healthcare industry. 3d printing technology refers to the creation of three-dimensional objects with the help of a digital file. 3d printers offer customization of an object by adding layers, minimizing human errors, and reducing costs associated with the manufacturing process. 3d printers are helping to create more efficient and reliable products for various industries such as healthcare, automotive, aerospace & defense, fashion, food, and many others.
The expansion of 3d printing technology has fueled the growth of the 3d printers market in recent years. Multiple materials such as polymer, ceramic, and metal are used in 3d printers. 3d printers are widely used for prototyping. A prototype is a fully functional form of a design or construction.
Get sample pages of report@ https://www.precedenceresearch.com/sample/2547
The Covid-19 pandemic adversely affected the global 3d printers market due to a disrupted supply chain and a halt in manufacturing. However, the global 3d printers market will likely grow during the forecast period of 2023-2032 owing to the increased demand from various industries for 3d printers to ease the designing process and induce the prototyping process.
Key Takeaways:
- North America has accounted revenue share of over 32% in 2022.
- By component, the hardware segment has accounted revenue share of over 61% in 2022.
- By printer type, the industrial 3D printers’ segment has held revenue share of over 71% in 2022.
- By software, the design software segment has generated revenue share of over 31% in 2022.
- By application, the prototyping segment has held revenue share of over 56% in 2022.
- By material, the metal material segment has held revenue share of over 51% in 2022.
Ask here for customization study@ https://www.precedenceresearch.com/customization/2547
Report Coverage
| Report Scope | Details |
| Market Size in 2032 | USD 88.61 Billion |
| North America Revenue Share | 32% in 2022 |
| Hardware Segment Share | 61% in 2022 |
| Industrial 3D Printers Segment Share | 71% in 2022 |
| Metal Material Segment Share | 51% in 2022 |
| Key Players | HP Inc., 3D Systems Inc., Envision Tec Inc., Autodesk Inc., Canon Inc., Stratasys Ltd. and Others |
Regional snapshot:
North America is a leading region in the global 3d printers market with the highest revenue share. The rapidly increasing deployment of 3d printers in education, automotive, and especially healthcare sectors has boosted the market's growth in North America. Technological advancements in 3d printers and overall 3d printing technology have propelled the market's growth. The U.S. & Canada are seen as major contributors to the market growth in North America. Moreover, the presence of major key players in the region has fueled the growth of the 3d printers market in the region. Prominent companies contributing to the growth of the 3d printers market in North America are Stratasys, 3D Systems, GE Additive, ExOne, HP, Optomec, Desktop Metal, Mark forged, and Carbon.
Europe is the second-largest market for 3d printers, and the highest demand for 3d printers comes from small-scale enterprises. The automotive segment shows the highest demand for 3d printers in the region owing to the presence of automotive leaders such as BMW, Mercedes, Jaguar, and many others. Automotive leaders utilize 3d printing technology in the research and development activities during the design formulation.
Companies involved in the 3d printers market of Europe have adopted several collaboration and partnership strategies to expand their business. Companies that contribute to the growth of the 3d printers market in Europe are Materialise, EOS, Voxel Jet, SLM Solutions, Renishaw, Group Gorge, TRUMPF, and Covestro. However, the high cost of 3d printing technology hampers the European market's growth.
Asia Pacific is showing a noticeable growth in the global 3d printers market. Increased use of 3d printing technology in several research methodologies is boosting the demand for 3d printers in the region. 3d printers are widely used in research and development activities by various industries to properly design an object. With 3d printing technology, research and development activities have become affordable and flexible. Growing demand for 3d printers from the automotive industry is a major driving factor for the growth of the 3d printers market in the Asia Pacific. Moreover, innovations in metal 3d printers in countries such as China, India, and Japan have fueled the growth of the 3d printers market. For instance, in November 2022, India-based 3d printers manufacturer Intech Additive Solutions launched a new metal 3d printer, 'ifusion325', at the Formnext event.
Emerging economies and developing IT infrastructure in Brazil, Chile, Kenya, and gulf countries in the Middle East will subsequently boost the growth of the 3d printers market in Latin America, the Middle East, and Africa.
Market dynamics:
Driver:
Deployment of 3d printers in the medical and healthcare industry
The deployment of 3d printers in the medical and healthcare industry is increasing for multiple medicinal purposes. The medical and healthcare industry is using 3d printers to produce new medical tools, surgical models, implant models for surgeries, and even for creating replicas of human bones. The deployment of 3d printing technology in prosthetics (hands, arms, or legs) is a remarkable use of 3d printers. 3d printers have helped surgeons immensely by reducing both effort and time of surgery. 3d printers are even used in the creation of dentures. The demand for 3d printers has increased for bioprinting and cellular engineering purposes. Considering all these factors, the deployment of 3d printers in the medical and healthcare industry is a major driving factor for the growth of the global 3d printers market.
Many companies have already shifted their focus to developing 3D printers capable of bioprinting, which will revolutionize the medical and healthcare industry. Bioprinting is a process of tissue replication using bio-inks, and bioprinting creates artificial living tissues. For instance, in November 2022, an Indian tech start-up, Avay Biosciences, launched an indigenous 3d printer that can print human tissues. According to the researchers, this Mito Plus 3d printer can be used in drug discovery and testing applications.
Restraint:
High cost for an initial investment in 3d printers
However, 3d printers have reduced the overall cost of manufacturing and designing an object or material; the cost associated with the initial investment in the 3d printers is a restraining factor for the growth of the market. The raw material required in desktop and industrial 3d printers is expensive, and high energy consumption and machine maintenance collectively make 3d printer management costly. Not every small and medium-scale enterprise can afford to own a 3d printer. However, companies are focused on creating cheaper 3d printers with excellent-quality printing for every industry. This step can combat the restraint.
Opportunity:
Innovation of Technologically advanced in 3d printers
Increasing deployment of 3d printers in small, medium, and large-scale industries demand technological advancements in 3d printers for faster and more efficient performance. Enabling artificial intelligence (AI) in 3d printers is seen as a technological advancement in the 3d printers market. AI-enabled 3d printers will allow monitoring and adjustment of printer material in real-time with less or no human intervention. Technological advancements such as multi-material printing that allows the involvement of 2 or more materials in the process of 3d printing will boost the demand for 3d printers in the global market. The innovation of technologically advanced 3d printers offers lucrative opportunities for investors, researchers, companies, and others involved in the global 3d printers market.
Challenge:
Lack of technical knowledge and skilled personnel
Advanced computer skills and analytical skills are required to manage the 3d printer. Operating 3d printers is a complex task. Skilled professionals with proper technical knowledge of printer operation are required for managing 3d printers in firms/enterprises. Software and hardware components in a 3d printer require routine support services. Skilled printer technicians can provide a support service by ensuring the proper function of 3d printers. A lack of skilled professionals and technical knowledge can create an obstacle by giving wrong printing results. Thus, the lack of skilled professionals in the 3d printers market is challenging.
Report highlights:
- North America dominates the global 3d printers market, and Europe accounts for the second-largest revenue share in the market.
- The industrial 3d printers segment dominates the global market owing to the rapidly growing demand from large automotive, aerospace & defense industries for 3d printers.
- The stereolithography segment in technology accounts for the largest revenue share due to technology's convenience and easy use.
- The automotive industry dominates the 3d printers market, and healthcare is the fastest-growing segment globally.
Related Reports
- 3D Printing Construction Market Research Report 2023 to 2032
- 3D Printing Materials Market Research Report 2023 to 2032
- 3D Printing in Healthcare Market Research Report 2023 to 2032
- 3D Printing Medical Implants Market Research Report 2023 to 2032
Browse our latest press releases@ https://www.precedenceresearch.com/press-releases
Recent developments in the 3d printers market:
- In December 2022, a German-based start-up, Apium, expanded its 3d printer portfolio by launching Apium P400 with the largest build volume. Apium P400 is a dual extruder that allows printing two parts with two varied materials.
- In November 2022, an India-based provider of additive manufacturing solutions, Wipro, launched its first product in the line of 3d printers. The Wipro 3D F300-2 printer is an industrial-grade 3d printer with fused filament fabrication technology.
- In October 2022, a leading manufacturer of ceramic 3d printers, Cerambot, launched a new multi-material 3d printer in the market. The new 3d printer is called the 'Eazao Matrix.' This 3d printer can print large formats up to 28 inches in height.
- In September 2022, HP launched its new HP Metal Jet 3D Printer at the International Manufacturing Technology Show. The company revealed that this 3d printer is designed to be modular and equipped with 63,360 nozzles.
- In September 2022, 3d printer manufacturer, Xact Metal, announced that the company is set to launch a new XM300G 3d printer. This 3d printer is designed for small and medium-sized firms.
Market Segmentation:
By Component
- Hardware
- Software
- Services
By Printer Type
- Industrial 3D Printer
- Desktop 3D Printer
By Technology
- Stereolithography
- Inkjet Printing
- Direct Metal Laser Sintering
- Fuse Deposition Modeling
- Selective Laser Sintering
- Poly Jet Printing
- Electron Beam Melting
- Laser Metal Deposition
- Digital Light Processing
- Laminated Object Manufacturing & Others
By Software
- Design Software
- Inspection Software
- Printer Software
- Scanning Software
By Application
- Prototyping
- Tooling
- Functional Parts
By Vertical
- Automotive
- Airospace& Defense
- Healthcare
- Consumer Electronics
- Industrial
- Power & Energy
- Education
- Fashion & Jewelry
- Food
- Object
- Dental
- Others
By Material
- Polymer
- Metal
- Ceramic
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2547
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
