3D Printing Market Size Worth $76.17 Billion by 2030 at CAGR 20.8%: Grand View Research, Inc.

SAN FRANCISCO, Sept. 7, 2022 /PRNewswire/ -- The global 3D printing market size is expected to reach USD 76.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.8% from 2022 to 2030. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM) as it involves 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.

Key Industry Insights & Findings from the report:

• 3D printing technology is gaining traction owing to the ability of the technology to offer accurate and rapid prototyping and optimize the time to market. Increasing adoption of 3D printers in the healthcare, automotive, and consumer electronics verticals is likely to drive the market significantly.
• The prototyping application segment dominated the market in 2021 and is expected to maintain its lead over the forecast period.
• The metal material segment led the market in 2021 and is expected to maintain its lead over the forecast period. This is attributed to the increasing demand for metal 3D printing from industrial verticals such as automotive and aerospace and defense.
• The desktop 3D printer type segment, which has been segmented further into educational purpose, fashion and jewelry, objects, dental, food, and others, is expected to adopt the 3D printing technique aggressively over the forecast period.
• Demand for desktop 3D printers is expected to increase over the forecast period as 3D printing is gaining popularity among hobbyists for domestic, household, and personal usage, as well as in the education sector for training purposes.
• The Asia Pacific market, which is emerging as a manufacturing hub for several industry verticals, is expected to grow significantly as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt 3D printing, particularly in countries including China, Japan, and South Korea.

Read 250 page market research report, "3D Printing Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Printer Type, By Technology, By Software, By Application, By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

3D Printing Market Growth & Trends

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 3D printing technology, eventually leading to the largest market share of 3D printers for industrial applications over the forecast period. Additive manufacturing is anticipated to evolve over the forecast period.

3D printing continues to gain popularity among hobbyists and innovators. While individuals are using 3D printing for domestic and personal purposes, universities and educational institutes are using 3D printing 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 offering related services, such as 3D printing materials, filaments, 3D modeling, and 3D printer software.

Apart from the industrial vertical, the automotive, healthcare, and aerospace & defense verticals are among the leading adopters of 3D printing technology. Incumbents of these verticals have an emphasis on accuracy, enhanced product designing, reliability, shorter time to market, and economical production processes. Given that additive manufacturing can offer all these benefits, the adoption of three-dimensional printers by the automotive, healthcare, and aerospace & defense verticals is expected to gain traction over the forecast period.

3D printing and related technologies are evolving continuously in line with the intensive R&D activities being undertaken, and the aggressive investments being made by the private and the public sectors. Government funding and encouraging initiatives being undertaken in developed economies are prompting manufacturers to pursue improvements in technology and the adoption of new technologies.

North America accounted for the largest revenue share of more than 30.0% in 2021, as a result of the extensive adoption of 3D printers for 3D designing, 3D modeling, and 3D manufacturing in several industries. The Asia Pacific region has emerged as a manufacturing hub owing to an expanding consumer base as well as the continued foreign investments happening in the region. The Asia Pacific market is expected to witness remarkable growth over the forecast period.

3D printing technology happens to be a capital-intensive technology. At the same time, manufacturers are holding on to their misconception about prototyping, rather than realizing the advantages associated with 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for 3D printing. These are some of the factors that are expected to restrain the market growth. However, government initiatives aimed at increasing awareness and promoting the benefits of adopting 3D printers are expected to help in countering the market restraints.

3D Printing Market Segmentation

Grand View Research has segmented the global 3D printing market based on component, printer type, technology, software, application, vertical, material, and region:

3D Printing Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware
• Software
• Services

3D Printing Market - Printer Type Outlook (Revenue, USD Million, 2017 - 2030)

• Desktop 3D Printer
• Industrial 3D Printer

3D Printing Market - Technology Outlook (Revenue, USD Million, 2017 - 2030)

• 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 - Software Outlook (Revenue, USD Million, 2017 - 2030)

• Design Software
• Inspection Software
• Printer Software
• Scanning Software

3D Printing Market - Application 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 - 2030)

• Polymer
• Metal
• Ceramic

3D Printing Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• South America
• Brazil
• Middle East & Africa

List of Key Players in the 3D Printing Market

• Stratasys, Ltd.
• Materialise
• EnvisionTec, Inc.
• 3D Systems, Inc.
• GE Additive
• Autodesk Inc.
• Made In Space
• Canon Inc.
• Voxeljet AG

Check out more related studies published by Grand View Research:

• 3D Printing Construction Market - The global 3D printing construction market size is expected to reach USD 4,986,793.7 thousand by 2030, registering a CAGR of 100.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. The market growth can be attributed to the rising awareness about 3D printing techniques in the construction industry and the significant increase in green construction projects globally. Various benefits offered by this technology, including increased construction speed, reduction in waste, on-site accidents& overall costs, and flexibility in creating complex architectural shapes, are also driving its adoption in the construction industry. The funding received by the 3D printing construction providers from the respective governments for developing space-based construction systems is expected to create new opportunities for market growth in the coming years.
• Metal 3D Printing Market - The global metal 3D printing market size is expected to reach USD 22.60 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.9% from 2022 to 2030. Metal 3D printing is also referred to as Additive Manufacturing (AM) as it involves 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 metal and the unnecessary metal is ground out to obtain the desired object.
• Desktop 3D Printing Market - The global desktop 3D printing market size is expected to reach USD 12.39 billion by 2030, witnessing a CAGR of 21.0% during the forecast period, according to the new report by Grand View Research, Inc. Desktop 3D printing involves designing and producing a 3D object with the help of computer-aided design software or a digital 3D model. The market for desktop 3D printers has witnessed significant growth owing to the demand for prototyping and designing across several verticals, including dental, healthcare, fashion, jewelry, objects, and gifts. The technology offers a cost-effective solution to small and medium-sized enterprises, hence, allowing them to customize their offerings with minimum manufacturing expenses compared to traditional manufacturing methods.

Browse through Grand View Research's  Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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