3D Printing Market Size, Share & Industry Growth Analysis Report by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Techno

3D Printing Market Size, Share & Industry Growth Analysis Report by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology and Region - Global Growth Driver and Industry Forecast to 2028

The 3D printing market is projected to reach from USD 15.0 billion in 2023 to USD 34.5 billion by 2028, at a CAGR of 18.1%. Some key factors attributing to the growth of 3D printers involve ease in developing customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects, and development of new industrial-grade 3D printing materials.

The recession’s impact on the 3D printing market has been analyzed in this study. The short-term outlook for semiconductors and materials revenues is expected to be worse in the third quarter of 2023. Rising inflation, increasing interest rates, unemployment, and energy crises will lead to slow economic activity. As a result, end-user industries experience deterioration of their businesses, cash flow, and ability to obtain financing, delaying or canceling product purchase plans.

Industrial printer market to hold a significant share of the 3D printer market during the forecast period

Industrial printers are used for professional and production purposes in the aerospace & defense, automotive, healthcare, consumer products, energy, jewellery, and engineering industries. Industrial printers are used to generate concept models, precision and functional prototypes, master patterns and molds for tooling, visual and functional prototypes, and real end-use parts. These printers use powders to develop molds and parts with superior accuracy up to 28 µm layer thickness. High-performance materials, resins, metals, and alloys are mixed to develop extremely resistant, flexible, and strong parts.

FDM technology to hold the largest share of 3D printing market during the forecast period

FDM technology can produce prototypes and functional parts faster and at a low cost from various thermoplastic materials. The lead times of FDM are short (as fast as next-day delivery) due to the high availability of the technology. A wide range of thermoplastic materials is available for prototyping and non-commercial functional applications. These materials are used to manufacture high-precision plastic components. FDM is a clean, simple-to-use, and office-friendly 3D printing technology. It supports production-grade thermoplastics, which are mechanically and environmentally stable, and the technology is used to develop complex geometries and cavities. Stratasys (US), Ultimaker (Netherlands), and Afinia 3D (US) are some of the leading companies providing FDM-based 3D printing systems and services.

Consumer products vertical for 3D printing market is expected to grow at the second highest CAGR during the forecast period

The 3D printing market for consumer products has been growing with the rise in the adoption of desktop or personal printers. The introduction of low-cost desktop 3D printers, costing below USD 1,000, has driven the adoption of 3D printers. Many start-up companies have entered the 3D printing industry with their services, such as designing, prototyping, or manufacturing customized functional products. Even the e-commerce giants such as Amazon (US), Staples (US), and the UPS Store (US) have entered the 3D printing market by providing customized consumer products as well as selling various branded desktop 3D printers.

Europe to hold a significant share of the 3D printing market during the forecast period

Europe is projected to hold a significantly large share for 3D printing market during the forecast period. Germany and the UK are the major countries contributing to the 3D printing market in Europe. The technique is widely used in the consumer, aerospace, automobile, and healthcare industries. Technological advancements, increased availability of various raw materials, regulatory policies, government support, low financial requirements, and the ability to facilitate fast and accurate product development are the major factors driving the 3D printing market in Europe. The European Space Agency (ESA) recently developed an X-Ray telescope using plasma metal deposition 3D printing. The ESA space telescope is designed to search for black holes and hot map structures to determine their physical properties. The demonstrator parts of this telescope will be designed and 3D printed by RHP Technology, an Austrian company.

In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key industry experts in the 3D printing market space. The break-up of primary participants for the report has been shown below:

By Company Type: Tier 1 – 35%, Tier 2 – 40%, and Tier 3 – 25%

By Designation: C-level Executives – 30%, Directors – 40%, and Others – 30%

By Region: North America –40%, Asia Pacific– 25%, Europe – 30%, and RoW – 5%

The report profiles key players in the 3D printing market with their respective market ranking analysis. Prominent players profiled in this report are Intuitive Surgical (US), DJI (China), Daifuku (Japan), iRobot (US), Samsung Electronics (South Korea), JD.com Inc. (China), DeLaval (Sweden), Kongsberg Maritime (Norway), and Northrop Grumman (US) among others.

Research Coverage:

This research report categorizes the 3D printing market on the basis of type, component, environment, application, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the 3D printing market and forecasts the same till 2028 (including analysis of recession impact on the market). Apart from these, the report also consists of leadership mapping and analysis of all the companies included in the 3D printing ecosystem.

Key Benefits of Buying the Report

The report would help leaders/new entrants in this market in the following ways:

1.This report segments the 3D printing market comprehensively and provides the closest market size projection for all subsegments across different regions.

2.The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.

3.This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers and acquisitions.

4.The analysis of the major 25 companies, based on the strength of the market rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.

5.Patent analysis, trade data, porters five forces analysis, and technological analysis that will shape the market in the coming years has also been covered in this report.