3D Printing Industry Overview
The global 3D printing market size was valued at USD 13.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.8% from 2022 to 2030.
Globally, 2.2 million units of 3D printers were shipped in 2021 and the shipments are expected to reach 21.5 million units by 2030. The aggressive research & development in three-dimensional printing and the growing demand for prototyping applications from various industry verticals, particularly healthcare, automotive, and aerospace and defense, are expected to fuel the growth of the market.
The use of 3D printing in industrial applications is usually referred to as additive manufacturing (AM). Additive manufacturing involves a layer-by-layer addition of material to form an object, referring to a three-dimensional file, with the help of software and a 3-dimensional printer. A relevant 3D printing technology is selected from the available set of technologies to implement the process. The last step involves the deployment of this process across different industry verticals based on the necessity.
Gather more insights about the market drivers, restrains and growth of the Global 3D Printing Market
The deployment includes providing installation services, offering consultation solutions, and customer support, as well as handling aspects related to copyrights, licensing and patenting. 3D printing is benefiting manufacturers in terms of prototyping, designing of the structure and end products, modeling, and time to market. As a result, the production expenses have reduced considerably, and the manufacturers are in a position to offer better products at reasonable prices. As a result of these benefits, the demand for 3D printers is expected to be triggered more in the coming years.
However, the prevailing misconceptions with respect to the prototyping processes held by the small and medium-scale manufacturers are hindering the adoption of additive manufacturing. Companies involved in designing, particularly small-scale and medium-scale enterprises, are deliberating before considering investments in prototyping as accountable investments rather than trying to understand the advantages and benefits of prototyping. The general notion prevailing among these enterprises is that prototyping is merely an expensive phase prior to manufacturing. Such perceptions regarding prototyping, coupled with the lack of technical knowledge and a looming lack of standard process controls, are expected to hinder the market growth.
The outbreak of the COVID-19 pandemic has significantly impacted the overall global economy and subsequently, the 3D printing industry. Initially, Europe and Asia Pacific were some of the worst affected regions in terms of the number of COVID-19 patients across the globe. Further, the situation worsened in the U.S. as well. Due to the rapid spread of the virus, the governments issued an order for the complete lockdown of some key cities. The complete lockdown affected the production of 3D printing manufacturers. This is attributed to the labor shortage and the complete disruption of logistics and supply chain in the nation. The halt in the production of 3D printing had an adverse impact on the overall market growth in the first and second quarters of 2020.
Browse through Grand View Research’s Next Generation Technologies Industry Related Reports
- Additive Manufacturing Market – The global additive manufacturing market size was valued at USD 13.84 billion in 2021 and is expected to expand at a CAGR of 20.8% from 2022 to 2030. Factors such as the growing demand for prototyping applications from various industries and industry verticals, particularly healthcare, automotive, and aerospace & defense, and the aggressive research and development in 3D printing are expected to drive the growth of the market.
- Construction And Design Software Market – The global construction and design software market size was valued at USD 9.6 billion in 2021 and is expected to expand at a CAGR of 8.5% from 2022 to 2030. The current growth of the market can be attributed to the increasing requirement for large-scale project management, usage of smart devices, and growing adoption of cloud-based solutions.
Market Share Insights
February 2022: Imaginarium associated with Ultimaker to present desktop & industrial 3D printer in the India market. In India additive manufacturing is expected to develop rapidly in the coming years this will help Ultimaker to develop its business.
May 2021: GE Additive associated with Protolabs and fashion designer Zac Posen to design four gowns and a headdress for presenting at the Met Gala.
Key Companies profiled:
Some prominent players in the global 3D Printing market include
- Stratasys, Ltd.
- Materialise
- EnvisionTec, Inc.
- 3D Systems, Inc.
- GE Additive
- Autodesk Inc.
- Made In Space
- Canon Inc.
- Voxeljet AG
Order a free sample PDF of the 3D Printing Market Intelligence Study, published by Grand View Research.