3D Printing Market to Reach $76.17 Billion By 2030: Million Insights
FELTON, Calif., Nov. 8, 2022 /PRNewswire/ — The global 3D printing market is expected to reach a value of approximately $1.5 trillion. USD 76.17 Billion By 2030, the rate of progress will be a substantial 20.8% between 2022 and 2030. 3D printing, also known by additive manufacturing, is an automated process used to create functional end-use parts as well as prototypes for specific areas.
Key Industry Insights & Findings from the report:
- The number 3D printers shipped has increased over the years. This trend is expected to continue during the forecast period. According to reports, around 2.2 million 3D printers were shipped in 2021. This number is expected to rise to 21.5 million by 2030.
- 3D printers are in high demand. This has led to a positive perception of the sector. Toner Buzz reports that 23% of 3D-using companies have reported having made investments in excess. USD 100 000 In 2020, 3D printing technology will be available.
- 3D printing has become a major function in large numbers of companies. Toner Buzz reported that 38% consider 3D printing their main activity. Only 18% of these companies have a dedicated department to 3D printing, while 16% use 3D print in multiple departments.
- Industrial printers account for a substantial share of the global market, on account of their extensive adoption in vital industries such as aerospace & defense, automotive, healthcare, and consumer electronics. 3D printing is used primarily in these industries for prototyping and tooling as well as designing.
- Software market share was over 30% in 2021 for the design software segment. This position is expected to continue through 2030. It serves as a bridge between the printer’s hardware and the printed objects. It is widely used across automotive, construction & engineering, and aerospace & defense verticals.
- The 3D printing market can be divided into hardware, software and services. In 2021, the hardware segment will account for more than 60% of the market. This has been aided by the increasing importance of rapid prototyping as well as the establishment of advanced manufacturing processes.
- Competitors have a long history of using new products and brands to grow their business. In one example, February 2022Desktop Metal has announced the launch of ETEC, a new brand for 3D printing. This will allow EnvisionTEC to continue its focus on industrial customers, as it was acquired by Desktop Metal back in 2021.
Read 250 page full market research report for more Insights, “3D Printing Market Size, Share & Trends Analysis Report By Component, By Printer Type, By Technology, By Software, By Application, By Vertical, By Region And Segment Forecasts From 2022 To 2030”, published by Million Insights.
3D Printing Market Growth & Trends
The process involves the transformation from CAD software of virtual designs into virtual, thin and horizontal layered crosses-sections, up to the completion of a model. 3D printing is a widely-used technology in the industrial sector. However it is becoming more popular among hobbyists as well as innovators.
3D printing has enabled the market to become more competitive in emerging economies. 3D printing has made it possible for manufacturers to reduce production costs and offer products at very affordable prices. There are still many limitations when it comes to 3D printing, particularly for small and medium-sized businesses. They are not interested in learning about the 3D printing benefits, but instead are concerned about the high-cost investments. In the next few years, however, these doubters will be converted into 3D printer users by the government’s supportive policies.
This market is dominated by international players, as well as many start-ups and regional companies. Companies are still developing new technologies and launching them, so competitors have taken on the challenge of creating innovative solutions for end users. The first wave of the COVID-19 epidemic had a significant impact on the industry. Lockdown restrictions and labor shortages caused major disruptions in the production output of the manufacturers. This period highlighted the importance 3D printing, particularly in the healthcare sector. The heightened demand for medical supplies and masks was efficiently managed with 3D printers. Many 3D printing companies committed a large portion of their manufacturing to this cause between 2020 and 2021.
Segmentation of the 3D Printing Market
Million Insights analyzed the global 3D printing market using component, printer type and technology. It also considered software, region, vertical, material, and application.
3D Printing Market – Component Outlook (Revenue, USD Million, 2017 – 2030)
- Hardware
- Software
- Services
3D Printing Market – Printer Type Outlook (Revenues, USD Million, 2017 to 2030)
- Desktop 3D Printer
- Industrial 3D Printer
3D Printing Market – Technology Outlook (Revenue USD Million, 2017-2013)
- Stereolithography
- Fuse Deposition Modelling
- Selective Laser Sintering
- Direct Metal Laser Sintering
- Polyjet Printing
- Inkjet printing
- Electron Beam Melting
- Laser Metal Deposition
- Digital Light Processing
- Laminated Object Manufacturing
- Others
3D Printing Market Outlook (Revenue, USD million, 2017 – 2030).
- Design Software
- Inspection Software
- Software for Printers
- Scanning Software
3D Printing Market Outlook (Revenue, USD million, 2017 – 2030).
- Prototyping
- Tooling
- Functional Parts
3D Printing Market: Vertical Outlook (Revenue, USD million, 2017 – 2030).
- Industrial 3D Printing
- Automotive
- Aerospace & Defense
- Healthcare
- Consumer Electronics
- Industrial
- Power & Energy
- Others
- Desktop 3D printing
- Educational Purpose
- Fashion & Jewelry
- Objects
- Dental
- Food
- Others
3D Printing Market – Material Outlook (Revenue USD Million, 2017-2013)
3D Printing Market: Regional Outlook (Revenue, USD million, 2017 – 2030).
- North America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- South America
- Middle East & Africa
List of Key Players of 3D Printing Market
- Stratasys, Ltd.
- Materialise
- EnvisionTec, Inc.
- 3D Systems, Inc.
- GE Additive
- Autodesk Inc.
- Made in Space
- Canon Inc.
- Voxeljet AG
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