The global 3D Printing market size is expected to be worth around US$ 35.40 billion by 2028, according to a new report by Vision Research Reports.
The global 3D Printing market size was valued at US$ 11.60 billion in 2020 and is anticipated to grow at a CAGR of 14.01% during forecast period 2021 to 2028.
3D Printing (3DP) is also referred to as Additive Manufacturing (AM), as it involves the successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.
3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The industrial vertical happens to be the most significant adopter of the 3DP technology and eventually leading to the highest market share of 3D printers for industrial applications over the forecast period. Additive manufacturing is anticipated to evolve with rising R&D and technological advancements.
3D printing continues to gain popularity among hobbyists and innovators. While individuals are using the technology for domestic and personal purposes, universities and educational institutes are using 3DP for conducting technical training. The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India; machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3DP materials, software, filaments, and 3D modeling.
ased on printer types, the 3D printing market has been segmented into industrial and desktop 3D printers. The industrial printers segment accounted for the largest market share of 77% in 2019 and is anticipated to continue its dominance over the forecast period. Both desktops, as well as industrial 3-dimensional printer segments, are further divided into hardware, software, and services.
The adoption of desktop 3-dimensional printers was initially limited to hobbyists and small enterprises. However, they are being increasingly used for household and domestic purposes. The education sector, which comprises schools, educational institutes, and universities, is also deploying desktop printers for technical training and research purposes. Small businesses are particularly adopting desktop printers and are diversifying their business operations to offer 3D printing and other related services.
Based on technology, the market is segmented into stereolithography, Fuse Deposition Modeling (FDM), Direct Metal Laser Sintering (DMLS), Selective Laser Sintering (SLS), inkjet, polyjet, laser metal deposition, Electron Beam Melting (EBM), digital light processing, laminated object manufacturing, and others. Stereolithography technology happens to be one of the oldest and conventional printing technologies. The segment accounted for around 11% market share in 2019.
Although the advantages and ease of operations associated with the stereolithography technology are encouraging the adoption of this technology, technological advancements and aggressive R&D activities undertaken by the industry experts and researchers are opening opportunities for several other efficient and reliable technologies.
Based on software, the 3DP market has been segmented into design software, inspection software, printer software, and scanning software. Design software is used for constructing the designs of the object to be printed, particularly in automotive, aerospace and defense, and construction and engineering verticals. Design software acts as a bridge between the objects to be printed and the printer’s hardware. Hence, the design software held the largest market share in 2019 and is expected to continue leading over the forecast period.
The scanners' software segment is expected to witness rapid growth and generate considerable revenues over the forecast period in line with the growing adoption of scanners. The market size of the segment is projected to expand at the highest CAGR of 15.5% from 2020 to 2027. The demand for scanning software is estimated to rise on account of the growing trend of scanning the objects and storing the scanned documents.
Based on applications, the market for 3D printing has been segmented further into prototyping, tooling, and functional parts. The prototyping segment accounted for the largest market share in 2019 owing to the extensive adoption of the prototyping process across several industry verticals.
Functional parts include smaller joints and other metallic hardware connecting components. The accuracy and precise sizing of these functional parts are of paramount importance while developing machinery and systems. The functional parts segment is expected to register a significant CAGR of 14.11% from 2020 to 2027 in line with the increasing demand for designing and building functional parts.
Based on verticals, the market has been segmented into separate verticals for desktop and industrial 3D printing. The verticals considered for desktop 3DP comprises educational purpose, fashion and jewelry, objects, dental, food, and others. The verticals considered for industrial 3DP comprises automotive, aerospace and defense, healthcare, consumer electronics, industrial, power and energy, and others.
In the healthcare sector, additive manufacturing helps the development of artificial tissues and muscles, which replicate the natural human tissues and can be used in replacement surgeries. These capabilities are expected to help in driving the adoption of 3DP across the healthcare vertical and contribute significantly towards the growth of the industrial segment.
Based on material, the market has been segmented into polymer, metal, and ceramic. The polymer segment accounted for the largest market share in 2019 as compared to the metal and ceramic segments. However, the metal segment is anticipated to hold the largest market share and continue leading over the forecast period.
Based on components, the market for 3D printing has been segmented further into hardware, software, and services. The hardware segment is expected to continue holding the largest market share over the forecast period. The technology has helped hardware providers to produce complicated and delicate functional parts with greater ease and accuracy.
The software segment is expected to portray the highest CAGR over the next six years. The software or solution providers offer three-dimensional design, control, and other relevant software used for monitoring and inspecting the quality of products to be printed. Whereas, service component offers installation services, maintenance services, customer grievances, consulting and technical support, and other post-sale services.
North America emerged as the largest market for 3D printing with a revenue share of more than 35% in 2019, owing to extensive adoption of additive manufacturing in the region. North American countries, such as the U.S. and Canada have been some of the prominent and early adopters of this technology in various manufacturing processes.
Stratasys, Ltd.; Materialise; EnvisionTec, Inc.; 3D Systems, Inc.; GE Additive; Autodesk Inc.; Made In Space; Canon Inc.; Voxeljet AG
Printer Type Outlook
Desktop 3D Printer
Industrial 3D Printer
Fuse Deposition Modeling
Selective Laser Sintering
Direct Metal Laser Sintering
Electron Beam Melting
Laser Metal Deposition
Digital Light Processing
Laminated Object Manufacturing
Industrial 3D Printing
Aerospace & Defense
Power & Energy
Desktop 3D Printing
Fashion & Jewelry
Middle East & Africa
The 3D Printing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of 3D Printing market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global 3D Printing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the 3D Printing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted 3D Printing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the 3D Printing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of 3D Printing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global 3D Printing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major 3D Printing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of 3D Printing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the 3D Printing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The 3D Printing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to 3D Printing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of 3D Printing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new 3D Printing market. These factors have benefited the growth of the global market for 3D Printing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for 3D Printing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of 3D Printing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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