New York, United States , Jan. 24, 2024 (GLOBE NEWSWIRE) -- The Global 3D Printing Market Size is to Grow from USD 17.38 Billion in 2022 to USD 95.31 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 18.5% during the projected period.
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3D printing is an additive manufacturing technology. It is 'additive' in the sense that it does not require a material block or a mold to create physical objects; rather, it stacks and fuses layers of material. It is typically faster, has lower fixed setup costs, and can produce more complex geometries than 'traditional' technologies, with an ever-expanding list of materials. It is widely used in engineering, particularly for prototyping and the creation of lightweight geometries. This technology enables the creation of bespoke geometric parts with minimal additional complexity. Sustainability has become a significant market driver for the 3D printing industry since it allows for customization, reduces waste, and increases design flexibility. 3D printing, also known as additive manufacturing, has many advantages, including reduced material waste, energy efficiency, localized production, and reduced transportation. Technological advancements have significantly influenced the 3D printing market by increasing capabilities, improving efficiency, and lowering costs. However, high initial capital requirements are a major market restraint for the 3D printing industry, which focuses on layering material to create three-dimensional objects. These costs include the acquisition of equipment, materials, research and development, infrastructure, skilled labor, regulatory compliance, and maintenance.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global 3D Printing Market Size, Share, and COVID-19 Impact Analysis, Printer Type (Industrial 3D Printer, Desktop 3D Printer), By Printing Type (Stereolithography (SLA), Direct Light Processing (DLP) and Continuous Direct Light Processing (CDLP)), By Component (Software, Hardware, Services), By End-User (Automotive Industry, Residential, Commercial, Infrastructure), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The Industrial 3D printer segment is expected to grow fastest in the global 3D Printing market during the forecast period.
Based on printer type, the 3D printing market has been segmented into industrial 3D printer, desktop 3D printer. Among these, the industrial 3D printer segment is expected to grow fastest in the global 3D printing market during the forecast period. Industrial 3D printers are widely used to perform common tasks such as prototyping, designing, and tooling in a wide range of industries and industry verticals, including automotive, electronics, aerospace & defense, and healthcare.
The stereolithography (SLA), infections segment is expected to grow at the highest pace in the global 3D printing market during the anticipated period.
Based on the printing type, the global 3D printing market is divided into stereolithography (SLA), direct light processing (DLP) and continuous direct light processing (CDLP). Among these, the stereolithography (SLA)is expected to grow at the highest pace in the global 3D Printing market during the forecast period. One of the oldest and most widely used printing technologies is stereolithography. Aside from the ease of use, there are several other advantages to stereolithography that are encouraging its use. However, technological advancements and aggressive R&D efforts by industry experts and researchers are opening the door to a wide range of other efficient and dependable technologies.
The hardware dominates in the global 3D Printing market during the forecast period.
Based on the component, the global 3D printing market is divided into software, hardware, services. Among these, the hardware dominates in the global 3D Printing market during the forecast period. The hardware industry has benefited greatly from the growing importance of accelerated prototyping and innovative manufacturing practices. Rapid industrialization, rapid urbanization, and the rising popularity of consumer electronic devices are the primary drivers of the hardware sector's expansion.
The automotive industry is expected to grow fastest in the global 3D printing market during the forecast period.
Based on the end user, the global 3D printing market is divided automotive industry, residential, commercial, infrastructure. Among these, the automotive industry dominates in the global 3D Printing market during the forecast period. Aside from the inherent weight and cost savings, the automotive industry is embracing 3D printing. Rapid prototyping of new or customized parts for testing or small-scale production is also possible. For example, if a specific part is no longer available, it can be manufactured as part of a small, bespoke run that also includes spare part production.
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North America dominates the market with the largest market share over the forecast period.
North America is projected to hold the largest share of the global 3D printing market over the forecast period. North America dominates the 3D printing market due to technological advancements, innovation, and entrepreneurship. Aerospace, automotive, healthcare, and consumer goods industries, as well as the region's prospering manufacturing sector, have all adopted 3D printing technologies for prototyping, rapid tooling, and low-volume production.
Asia-Pacific is expected to grow the fastest in the global 3D printing market during the anticipated time frame. The regional market's expansion can be attributed in part to the region's manufacturing industry incumbents' ongoing developments and upgrades. Asia Pacific is emerging as a manufacturing powerhouse in the automotive, healthcare, and consumer electronics industries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global 3D printing market are Stratasys, Ltd., Materialise NV, EnvisionTec, Inc., 3D Systems, Inc., GE Additive, Autodesk Inc., Made in Space, Canon Inc., Voxeljet AG, Optomec, Groupe Gorgé, Renishaw, EOS GmbH, & Others.
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Recent Market Developments
In July 2023, the company Creality, 3D printer manufacturer based in Shenzhen, has released the K1 Max 3D Printer, which is now available for $899. The K1 Max is intended to make high-quality 3D printing more accessible to a wider audience, with a printing speed of 600mm/s in just 0.03s and a build volume of 300x300x300mm. It has a quick Core XY architecture, a lightweight 190g printhead, and a 1080p AI camera for real-time monitoring and time-lapses. The K1 Max also includes AI LiDAR technology, which improves performance and accuracy.
Market Segment
This study forecasts revenue at global 3D printing, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global 3D printing market based on the below-mentioned segments:
Global 3D Printing Market, Printer Type Analysis
- Industrial 3D Printer
- Desktop 3D Printer
Global 3D Printing Market, Printing Type Analysis
- Stereolithography (SLA)
- Direct Light Processing (DLP)
- Continuous Direct Light Processing (CDLP)
Global 3D Printing Market, Component Analysis
- Software
- Hardware
- Services
Global 3D Printing Market, End User Analysis
- Automotive Industry
- Residential
- Commercial
- Infrastructure
Global 3D Printing Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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