[Latest] Global 3D Printer Market Size, Forecast, Analysis & Share Surpass US$ 149.4 Billion By 2030, At 20.5% CAGR
Global 3D Printer Market was at US$ 23.7 Billion in 2023 and is growing to approx US$ 149.4 Billion by 2030, with a CAGR growth of 20.5% between 2023 and 2030.
AUSTIN, TEXAS, UNITED STATES, May 15, 2023 /EINPresswire.com/ — According to the study, The Global 3D Printer Market was estimated at USD 23.7 Billion in 2023 and is anticipated to reach around USD 149.4 Billion by 2030, growing at a CAGR of roughly 20.5% between 2023 and 2030.
Report URL: https://www.custommarketinsights.com/report/3D Printer-market/
Global 3D Printer Market: Overview
The 3D printer market is experiencing significant growth due to various factors, including the increasing adoption of 3D printing technology in various industries such as healthcare, automotive, and consumer electronics. This adoption is driven by the ability of the technology to offer accurate and rapid prototyping, which helps optimize time to market.
Another driver for the 3D printer market is the continual supply of new competitors, leading to increased innovation and the development of new products and services. Moreover, the emergence of Industry 4.0, which combines cutting-edge manufacturing and production methods with digital technology, is creating significant demand prospects for global and regional market players.
However, the high installation and maintenance cost of 3D printers remains a significant challenge for small and medium-sized businesses, which are hesitant to invest in the technology. Additionally, a lack of technical expertise and standardized quality control measures are anticipated to restrain the 3D printing industry’s expansion.
Overall, the 3D printer market is dynamic and evolving, with various drivers and challenges impacting its growth and development.
Global 3D Printer Market: Growth Drivers
The 3D printing market is experiencing significant growth due to the increased number of potentially printable materials, which has more than doubled in the last five years. This has created a high demand for 3D printers globally, with mixed-material printers becoming more widely available and further strengthening the industry’s growth.
Modelling, prototyping, and manufacturing are among the most popular industrial applications driving the growth of the 3D printing market across various industry verticals. Additionally, academic institutions and research centers are adopting 3D printers, particularly flash forge printers, for technical training and studies, further propelling the market’s growth.
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Key Insights:
A) As per the analysis shared by our research analyst, the Global 3D Printer market is estimated to grow annually at a CAGR of around 20.5% over the forecast period (2023-2030).
B) In terms of revenue, the Global 3D Printer market size was valued at around USD 23.7 Billion in 2023 and is projected to reach USD 149.4 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Prototyping and product development: 3D printing allows companies to rapidly create prototypes and test new product designs, reducing the time and cost associated with traditional manufacturing methods. This enables companies to bring new products to market faster and more efficiently.
D) Supply chain optimization: 3D printing can help companies optimize their supply chains by reducing lead times and transportation costs associated with traditional manufacturing methods. This is especially relevant in industries where parts and components are sourced from around the world.
E) Despite the advantages of 3D printing, traditional manufacturing methods such as injection molding and CNC machining remain the dominant methods for producing high-volume parts. These methods can still be more cost-effective and efficient for certain applications, which poses a threat to the growth of the 3D printer market.
F) As 3D printing becomes more widely adopted in industries such as healthcare and aerospace, there are concerns about safety and regulatory compliance. 3D printed parts may not meet the same safety and quality standards as traditionally manufactured parts, which could pose a threat to public safety.
G) Interestingly, 3D printing services are the second-largest segment in terms of revenue, with a net worth of US$8 billion in 2022. The trend of establishing small-scale businesses for such services is expected to drive the growth of this segment at a rate of 22.5% during the forecast period.
Press Release For Global 3D Printer Market: https://www.custommarketinsights.com/press-releases/3d-printer-market-share/
Regional Landscape
North America: The North American market is expected to hold a significant share of the 3D printing market due to the presence of several key players and increasing investments in research and development activities.
Europe: The European region is also expected to witness significant growth in the 3D printing market, driven by the increasing adoption of 3D printing technology in various industries, including automotive, aerospace, and healthcare.
Asia Pacific: The Asia Pacific region is expected to witness the fastest growth rate in the 3D printing market, owing to the increasing demand for 3D printing technology in various industries, including automotive, aerospace, and healthcare.
Latin America: The Latin American market is expected to witness moderate growth in the 3D printing market due to the increasing adoption of 3D printing technology in various industries, including healthcare, aerospace, and automotive.
Middle East and Africa: The Middle East and Africa region are also expected to witness moderate growth in the 3D printing market due to the increasing adoption of 3D printing technology in various industries, including healthcare, aerospace, and automotive.
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Key Players
Stratasys Ltd.
Materialise
EnvisionTec Inc.
3D Systems Inc.
GE Additive
Autodesk Inc.
Made In Space
Canon Inc.
Voxeljet AG
Others
The Global 3D Printer Market is segmented as follows:
By Component:
3D Printers
3D Printing Services
3D Printing Software
Consulting Services
Support Services
Others
By Technology:
Digital Light Processing (DLP)
Direct Metal Laser Sintering (DMLS)
Electron Beam Melting (EBM)
Fused Deposition Modelling (FDM)
Selective Laser Sintering (SLS)
Stereolithography
Others
By Application:
Production Parts
Prototypes
Tools & Fixtures
By Industry :
Aerospace & Aeronautics
Automotive
Consumer Goods
Healthcare & Medical Devices
Industrial
Others
By Geography
North America
The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
China
Global India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific
Latin America
Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa
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