The global 3D printing market accounted for USD 10.5 billion in 2019. The market is projected to register growth at a CAGR of 12.8% during forecast period.
COVID-19 has impacted 3D printing market significantly. The demand for 3D printing is declining due to global pandemic across various industries such as construction, defense & aerospace and automotive. The supply chain has been affected due to travel restriction. The growth in this has been negatively affected due to spread of corona virus.
For more details, visit: Global 3D Printing Market By Type (Desktop, Industrial), By Technology (Direct Metal Laser Sintering, Selective Laser Sintering, Others), By Application (Prototyping, Functional Parts, Tooling), By Region–Forecast & Opportunities to 2026
The 3D printing has been adopted by various industries such as automotive, defense and aircraft etc. The 3D printing is used to produce complex parts and helps in creating parts with lower cost and at most feasibility. Thus, many manufacturers prefer this for producing various parts and this drives growth in 3D printing market during forecast period.
On the basis of printer type, the 3D printing market is segmented into desktop 3D printers and industrial printers. The industrial printers segment accounted for largest market share in 2019. It accounted for XX% of total market share. It is estimated to hold largest market share during forecast period. Various heavy industries such as aerospace & defense, automotive, electronics and healthcare are adopting industrial 3D printers rapidly. Industrial 3D printers are used for designing, tooling and prototyping etc. The rising demand of industrial 3D printers is likely to drive growth in this segment during forecast period.
On the basis of technology, the 3D printing market is segmented into direct metal laser sintering, selective laser sitering, inkjet, fuse deposition modeling, polyjet, electron beam melting, laser metal deposition, laminated object manufacturing, digital light processing and others. Stereolithography technology is accounted for largest market share in 2019. It is estimated to register growth at highest CAGR during forecast period. The adoption of stereolithography technology is increasing around the world. The rapid technological advancement in this segment is likely to drive growth in this segment during forecast period.
On the basis of application, the 3D printing market is segmented into prototyping, functional parts and tooling. The prototyping segment is accounted for largest market share in 2019. It is estimated to hold largest market share during forecast period. The prototyping is used in automotive, aerospace and defense industry to design and develop various parts and components. It provides higher accuracy in developing components. All this factors are likely to drive growth in this segment during forecast period.
The North America region is estimated to hold largest market share during forecast period whereas Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. Various companies across this region are adopting 3D printing technology in their respective industries. Research & development department is growing immensely and introducing new and developed technologies in this market in North America region. All this factors are driving growth in North America region during forecast period.
The key market players in 3D printing market are Stratasys, 3D Systems, EOS GmbH, Materialise, GE Additive, Exone, Hp, Voxeljet, Envisiontec, Mcor Technologies, Protolabs, Optomec, Groupe Gorge, Renishaw and Ultimaker. All these industries are focusing introducing new and improved technology in 3D printing market.
- What are the expected industry trends over the next three to five years?
- Which of the 3D printing technology is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?