Pune, Sept. 17, 2024 (GLOBE NEWSWIRE) -- 3D Printing Market Size Analysis:
“According to SNS Insider, the 3D Printing Market Size was USD 21.1 Billion in 2023 and is projected to reach USD 118.9 Billion by 2032, growing at a CAGR of 21.2% over the forecast period 2024-2032.”
Market Analysis
The 3D printing market is experiencing remarkable growth, driven by technological advancements and increasing adoption across various industries. This surge is fuelled by innovations in printing materials and technologies, which are enhancing production capabilities and enabling more complex and customized designs. The increasing demand for personalized products, advancements in materials such as metals, ceramics, and biocompatible polymers, and the rise of Industry 4.0. 3D printing is revolutionizing sectors like aerospace, healthcare, automotive, and consumer goods by offering cost-effective and efficient security and unique designs. The technology’s ability to reduce material waste and accelerate prototyping processes further contributes to its growing appeal. The adoption of 3D printing in medical applications, choosing this technology for applications such as custom prosthetics and implants, and implants, showcases its transformative impact.
The 3D printing market is witnessing unprecedented growth, primarily fuelled by substantial government support and funding initiatives. The European Commission has allocated over EUR 400 million for advanced manufacturing technologies, including 3D printing, under its Horizon Europe program. These investments are designed to boost research and development, speed up technological advances, and help domestic industries maintain their competitive edge on a global scale. The growing emphasis on funding cutting-edge technologies is creating a nurturing environment for growth and innovation in the 3D printing sector.
Get a Sample Report of 3D Printing Market@ https://www.snsinsider.com/sample-request/3247
Major Players Analysis Listed in this Report are:
- Stratasys Ltd. (F370 CR, J750 Digital Anatomy)
- 3D Systems Corporation (ProX 800, Figure 4 Standalone)
- Materialise NV (Mimics Innovation Suite, Magics)
- GE Additive (Concept Laser M2 Series 5, Binder Jet Line)
- HP Inc. (Jet Fusion 5200 Series, Metal Jet S100)
- SLM Solutions Group AG (SLM® 280 2.0, NXG XII 600)
- EOS GmbH (EOS M 300-4, EOS P 500)
- Voxeljet AG (VX1000, VJET X)
- Renishaw plc (RenAM 500Q, AM250)
- Desktop Metal (Production System™ P-50, Fiber™)
- Carbon, Inc. (M3 Max, Carbon DLS™)
- Markforged, Inc. (Mark Two, Metal X)
- ExOne (X1 160Pro, Innovent+®)
- Ultimaker (Ultimaker S5, Ultimaker 3)
- XYZprinting (da Vinci Pro 3-in-1, da Vinci Super)
- Tiertime (Beijing TierTime Technology Co. Ltd.) (UP300, Cetus MK3)
- Formlabs (Form 3B+, Fuse 1)
- Zortrax (M300 Plus, Endureal)
- Proto Labs, Inc. (3D Printed Prototypes, Injection Molding)
- Raise3D Technologies, Inc. (Pro2 Plus, RMF500)
3D Printing Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 21.1 Bn |
| Market Size by 2032 | USD 118.9 Bn |
| CAGR | CAGR of 21.2% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The capacity to 3D print spare parts on demand has the potential to have a substantial influence on sectors such as automotive, aerospace, and industrial production. • Governments throughout the world are investing in 3D printing initiatives. |
Do you have any specific queries or need any customization research on 3D Printing Market, Make an Enquiry Now@ https://www.snsinsider.com/enquiry/3247
Segment Analysis
By Application, the prototyping application segment of the 3D printing market led the overall market in 2023 with over 53% of the global revenue. This trend is the result of several significant advantages 3D printing provides for the prototyping practice. It significantly reduces a product’s time-to-market and is also cost-efficient in comparison to the traditional prototyping methods. It enables businesses to test prototypes quickly and, if needed, iterate the design speedily, which is crucial for industries such as automotive or consumer electronics. The importance of prototyping for the business sector and industry is further enhanced by government support for innovation and manufacturing technologies. For example, in 2023, the National Institute of Standards and Technology increased its funding for prototyping technologies through R&D by over 30%. Therefore, the large share of prototyping applications is the result of its central place in the product development process and contributes to the 3D printing market’s continuous growth and development.
By Component, Hardware is the most significant segment among the individual components of the 3D printing market. Hardware is responsible for around 61% of the total market share, according to the U.S. Census Bureau. This fact is due to the ongoing advancement of the 3D printing machines that are being developed to be more efficient, capable of higher resolution, and precision. Additionally, the hardware segment accounts for a higher percentage compared to the software and services due to a considerable capital expenditure needed to obtain and maintain advanced 3D printers. The U.S. Department of Energy reported a 20% increase in its investment for hardware innovation of the 3D printing market in 2023. The purpose of this funding is mainly to develop new printer technologies and offer enhancement in the material handling factor which drives the market further and supports hardware as the most significant segment.
3D Printing Market Segmentation:
By Component
- Hardware
- Software
- Services
By Technology
- Stereolithography
- Fuse Deposition Modeling
- Selective Laser Sintering
- Direct Metal Laser Sintering
- Polyjet Printing
- Inkjet printing
- Electron Beam Melting
- Laser Metal Deposition
- Digital Light Processing
- Laminated Object Manufacturing
- Others
By Process
- Powder Bed Fusion
- Vat Photopolymerization
- Binder Jetting
- Material Extrusion
- Material Jetting
- Others
By Application
- Prototyping
- Tooling
- Functional Part Manufacturing
By Vertical
- Automotive
- Aerospace & Defense
- Healthcare
- Architecture & Construction
- Consumer Products
- Education
- Industrial
- Energy
- Printed Electronics
- Jewelry
- Food & Culinary
- Others
Regional Dominance
North America is the leading force of 3D printing in the current market, where the region held a market share of approximately 34% in 2023. The dominance of the region is facilitated by its robust industrial base, solid technological infrastructure, and huge government spending. The US and Canada are leading the way in developing 3D printing technology while incorporating it into other industries such as aerospace, automotive, and healthcare. The National Additive Manufacturing Innovation Institute, from its inception receiving more than USD 300 million in federal funding, is at the forefront of developing 3D printing technology in the US. Further, the US Census Bureau announced a fifteen percent increase in the filing of 3D printing patents in North America in 2023, which signifies a commitment toward the development of 3D printing technologies. The emergence of other countries applying 3D technology in various applications does not endanger the dominance of North America in the market.
Latest News
- In August 2024, Stratasys Ltd. unveiled a new series of industrial-grade 3D printers designed to improve precision levels and speed of production. This release is a massive statement to the market by the company and further solidifying its position in global 3D printing service markets.
- In July 2024, HP Inc. announced a strategic partnership with a major aerospace manufacturer to advance the use of 3D printing in producing lightweight, high-performance parts.
Buy an Enterprise-User PDF of 3D Printing Market Analysis & Outlook 2024-2032@ https://www.snsinsider.com/checkout/3247
Key Takeaways
- This report aims to provide a comprehensive overview of the 3D printing market, highlighting key drivers, applications, components, and regional dynamics.
- The report delivers insights into market trends, government support, application growth, and component segmentation, offering valuable information for stakeholders to understand current and future market opportunities.
- Government support and technological advancements are pivotal drivers of the 3D printing market’s growth.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. 3D Printing Market Segmentation, By Component
8. 3D Printing Market Segmentation, By Technology
9. 3D Printing Market Segmentation, By Process
10. 3D Printing Market Segmentation, By Application
11. 3D Printing Market Segmentation, By Vertical
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
Access Complete Report Details of 3D Printing Market Analysis Report 2024-2032@ https://www.snsinsider.com/reports/3d-printing-market-3247
[For more information or need any customization research mail us at info@snsinsider.com]
SNS Insider Offering/ Consulting Services:
Go To Market Assessment Service
Total Addressable Market (TAM) Assessment
Competitive Benchmarking and Market Share Gain
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
