3D Printer Market size to grow by USD 25.09 billion from 2022 to 2027, Increase in consumer interest in 3D customized products boosts the market growth, Technavio

NEW YORK, March 14, 2024 /PRNewswire/ -- The 3D printer market is forecast to increase by USD 25.09 billion from 2022 to 2027, at a CAGR of 23.49%.The increase in consumer demand for personalized products is fueling a paradigm shift in the B2B landscape. Companies are capitalizing on this trend by offering tailored solutions through desktop 3D printing technology. Affordable yet powerful, these printers empower businesses to meet diverse customer needs efficiently. Meanwhile, industry professionals are leveraging 3D printing to elevate service standards and drive profitability. This dynamic market growth is reshaping additive manufacturing, prototyping, and R&D across sectors like healthcare. As businesses adapt to meet evolving customer expectations, the potential for innovation and revenue generation in the B2B sector is unprecedented.

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Technavio has extensively analyzed 15 major companies, including 3D Systems Corp., Autodesk Inc., Desktop Metal Inc., EOS GmbH, Formlabs Inc, General Electric Co., HP Inc., JINHUA WANHAO SPARE PARTS CO. LTD., Materialise NV, N3 Technologies Inc., Nano Dimension Ltd., Organovo Holdings Inc., Proto Labs Inc., SLM Solutions Group AG, Stratasys Ltd., Ultimaker BV, voxeljet AG, XYZPRINTING Inc., YFC BonEagle ELECTRIC CO. LTD., and Zhejiang Flashforge 3D Technology Co. Ltd. 

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• The report offers information on the criticality of company inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and companies' product offerings.
• The report also provides a qualitative and quantitative analysis of companies to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

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Segmentation Assessment

The market is segmented by product (industrial 3D printer and desktop 3D printer), technology (fused deposition modeling, selective laser sintering, stereolithography, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa)

The market share growth by the industrial 3D printer segment is significant during the forecast period. The industrial 3D printer segment emerged as the largest sector in the global 3D printer market in 2022 and is anticipated to maintain its dominance throughout the forecast period. This dominance is primarily attributed to the escalating adoption of industrial 3D printers across diverse industries, including aerospace and defense, automotive, consumer electronics, and healthcare, for purposes such as design, prototyping, and tooling. Notably, the aerospace sector extensively utilizes additive manufacturing for producing intricate components like jet engines, injectors, and valves.

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Analyst Review

The 3D printing market has witnessed significant growth, particularly in the aerospace & defense sector in North America. Additive manufacturing (AM) techniques enable layer-by-layer addition of material based on a three-dimensional file, facilitated by advanced software solutions. Companies offering 3-dimensional printers also provide installation services, consultation solutions, and robust customer support.

Intellectual property concerns such as copyrights, licensing, and patenting play a crucial role as manufacturers navigate production expenses and address misconceptions about small and medium-scale manufacturers. While prototyping processes remain a significant focus for small-scale and medium-scale enterprises, the technical expertise required underscores the importance of technical knowledge and standard process controls.

The market exhibits market concentration, with mergers & acquisitions shaping the landscape, led by prominent players facing regulatory scrutiny to ensure safety and quality of printed products. Research & development investments drive innovation, impacting the manufacturing sector and challenging traditional methods like injection molding and CNC machining.

Industrial printers cater to diverse sectors with specialized design software, inspection software, and printer software. Functional parts find applications across automotive segments with growing prototyping applications and contributions to power and energy sectors.

In the metal segment, alongside polymer and ceramic materials, advancements in hardware and software bolster services offered across various industry verticals. The automotive 3D printing market exhibits promising growth, reflected in the compound annual growth rate (CAGR) projections, emphasizing continued research & development for prototyping applications across industry verticals like aerospace & defense.

Investments in designing and reducing time to market are critical for small-scale and medium-scale manufacturers, necessitating technical knowledge and standard process controls. Market dynamics are influenced by 3D printing materials market, printing technologies, and applications, with mergers & acquisitions driving market consolidation and strategic expansion.

Regulatory scrutiny ensures safety and quality, particularly in medical devices, prompting adherence to industry standards and fostering the wider adoption of 3D printing technologies. As the manufacturing sector evolves beyond traditional methods, emerging technologies cater to diverse needs across industrial printer segments and desktop 3D printers. From heavy industries to household and domestic purposes, 3D printing permeates various sectors, shaping innovation and market growth across healthcare, aerospace, automotive, and beyond.

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Market Overview

The 3D printing market in aerospace & defense sectors is witnessing significant growth, especially in North America. Additive manufacturing (AM) techniques, such as layer-by-layer addition, are revolutionizing production processes. This market relies heavily on 3-dimensional printers capable of transforming a three-dimensional file into physical objects. Cutting-edge software enables intricate designs, while installation services ensure seamless integration. North America's robust infrastructure fosters innovation and adoption. As demands for precision and customization rise, the 3D printing market continues to expand, reshaping manufacturing landscapes.

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About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email: [email protected]
Website: www.technavio.com

SOURCE Technavio

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