Global 3D Printing Market by Printer Type (Desktop, Industrial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global 3D printing market was valued at USD 13.78 Billion in 2020. It is expected to grow at a compound annual rate (CAGR of 21.0%) between 2021 and 2028. In 2020, 3D printers shipped 2.1 million units worldwide. By 2028, the number of shipments is expected to rise to 15.3 million. Market growth is expected to be driven by aggressive R&D in 3D printing (3DP) as well as the increasing demand for prototyping applications in various industries, including healthcare, aerospace, defense and automotive. 3DP's industrial application is Enhanced Manufacturing (AM), which involves layer-by-layer material addition to create an object that refers to a three-dimensional file using software and a 3-dimensional printing device. The appropriate 3D printing technology for the implementation of the process is chosen from the available technologies. This step is the last.

Installation services are provided, along with consultation and support. All aspects of copyrights, licensing, and patenting are handled. Manufacturers are able to use 3D printing for prototyping, design of the structure, end products, modeling, time to market, and other aspects. Manufacturers are now able to offer higher quality products at lower prices because their production costs have decreased significantly. These benefits are expected to increase the demand for 3D printing in the future.

The adoption of additive manufacturing is being hampered by misconceptions about prototyping that are held by small- and medium-sized manufacturers. Prototyping is being considered as an accountable investment by design companies, especially small-scale and medium-sized enterprises. They are not trying to fully understand the benefits and advantages of prototyping. These companies believe prototyping is an expensive step before manufacturing. Market growth will be impeded by such perceptions about prototyping, combined with a lack of technical knowledge and a lack of standard process control.

The global economy has been severely affected by the COVID-19 pandemic. In terms of the number COVID-19 cases, the most affected regions were initially Europe and Asia Pacific. The situation deteriorated further in the U.S. The rapid spread of the virus caused the governments to order the total lockdown of key cities. The total lockdown impacted the production of 3D printer manufacturers. This was due to the shortage of labor and disruption in logistics and supply chains throughout the country. The market growth is being slowed by the halt in 3D printing production in the first quarter and second quarter 2020.

Printer Type Insights

The market's largest segment, the industrial printer segment, accounted for 76% of global revenue in 2020. The printer types further divide the market into desktop and industrial 3D printers. The desktop and industrial 3-dimensional printer segments can be further broken down into hardware, software, or services.

The high share of industrial printers can also be attributed the widespread adoption of industrial printers within heavy industries like automotive, electronics, defense and health care. These industrial applications are the most popular across all industry verticals. The growing demand for 3D printing in the industrial sector is due to its widespread adoption. The industrial printers market is expected to remain dominant over the forecast period.

However, desktop 3-dimensional printers were initially only used by hobbyists and small businesses. They are now being used more for domestic and household purposes. Desktop printers are also being used by the education sector (schools, universities, and educational institutes) for research and technical training.

Many small businesses are now using desktop printers to diversify their business operations and offer 3D printing. The concept of "fabshops" is growing in popularity in the U.S. These fabshops allow customers to order 3D printed parts and components on demand. The demand for desktop printers will rise over the forecast period.

Technology Insights

Stereolithography accounted for over 10% of global revenue in 2020. Segmentation based on technology has been made into stereolithography (Fused Deposition Modeling) (FDM), Direct Metal Laser Sintering(DMLS), Selective Laser Sintering(SLS), inkjet and polyjet), laser metal deposition (EBM), digital lighting, laminated object manufacture (LMM), and other segments.

Stereolithography technology holds the largest share of all printing technologies, as it is one of the oldest and most traditional. Comparing to other additive manufacturing technologies, the stereolithography segment made up around 11%.

Stereolithography technology is popular because of its ease-of-use and benefits. However, technological advances and aggressive research and development by industry experts and researchers have opened up new opportunities for other reliable and efficient technologies.

FDM accounts for a significant revenue share due to widespread adoption of the technology in various 3DP processes. DLP, EBM and inkjet printing are expected to see a rise in adoption due to their use in specialized additive manufacturing processes. These technologies could be adopted due to the growing demand from aerospace, defense, healthcare, automotive verticals, and other industries.

Software Insights

Design software dominated the 3D printing market, accounting for 36% of global revenue in 2020. The 3D printing industry can be divided into four segments based on software: design software; inspection software; printer software; and scanning software. Software used to design the objects to be printed is called design software. This software is most commonly used in aerospace, defense and construction, as well as engineering and engineering verticals. The design software acts as a link between objects to be printed, and the printer's hardware. The market's largest share is held by design software in 2020. It is expected to continue its dominance over the forecast period.

Due to the increasing popularity of scanning objects and storing scans, scanning software will continue to be in demand. The ability to store scanned images of objects regardless of their dimensions and allow for 3-dimensional printing is expected to drive growth in the scanner software market over the forecast period.

Due to the increasing adoption of scanners, the scanners software segment will experience rapid growth and significant revenues during the forecast period. This segment is expected to grow at a highest CAGR of 21.4% between 2021 and 2028.

Application Insights

Prototyping accounted for over 55% of global revenue in 2020. The industry can be further divided by application into tooling, functional parts, and prototyping. Due to widespread adoption of prototyping across multiple industry verticals, the prototyping segment accounted the largest share in 2020.

Prototyping is used in the aerospace, defense, and automotive industries. It allows for precise design and development of complex parts, components, as well as complex systems. The prototyping process allows manufacturers to develop high-quality products and achieve greater accuracy. Prototyping will continue to dominate the market during the forecast period.

Functional parts are smaller joints that connect to other metal hardware components. When designing machinery and systems, it is crucial to accurately and precisely size these functional parts. In line with increasing demand for functional parts design and construction, the functional parts segment will grow at a significant CAGR (21.5%) between 2021 and 2028.

Vertical Insights

The market's largest segment was the automotive, accounting for over 23% of global revenue in 2020. The verticals of the industry have been used to separate desktop and industrial 3D printers. For desktop 3D printing, the following verticals are considered: fashion and jewelry, objects and food. For industrial 3DP, the following verticals are considered: automotive, aerospace, defense, healthcare and industrial electronics.

The active adoption of technology in the various production processes related to these verticals will contribute to the rapid growth of industrial additive manufacturing during the forecast period.

AM is used to develop artificial tissues and muscles for the healthcare industry. These tissues can be used to replace human tissue. These capabilities will be a major driver of 3DP adoption in the healthcare sector and contribute to the industrial segment's growth.

The desktop 3DP segment is expected to grow significantly over the forecast period, with the help of fashion, jewelry, dental and food verticals. In 2020, the dental vertical was the dominant segment and will continue to dominate the segment for the forecast period. 3D printing is also being used to make imitation jewelry, miniatures, clothing, and apparel.

Material Insights

The market's largest segment, the metal segment, accounted for 48% of global revenue in 2020. The industry can be further divided into three segments based on material: polymer, metal and ceramic. In 2020, the second largest share was held by the polymer segment. The metal segment will continue to dominate over the forecast period. Over the next six-years, the metal segment will experience a CAGR of more than 26%.

Given that additive manufacturing with ceramic material is relatively new, there has been a rise in demand for ceramic AM. This segment is forecast to experience a higher CAGR than 23.3% during the forecast period.

Component Insights

The market leader in hardware accounted for 63% of global revenue in 2020. The industry can be further divided by component into software, hardware, and services. The majority of industry share was contributed by the hardware segment, and it is expected to continue to dominate the forecast period.

The 3DP hardware segment can be further divided into technology, applications vertical, and material. The software segment can be further divided into software type and printer type. The printer type is the only distinguishing factor in the services segment. The largest revenue share is expected to remain in the hardware segment. Over the next six-years, the software segment will experience the fastest CAGR.

Regional Insights

North America accounted for over 35% of global revenue in 2020. The global 3DP industry can be divided into North America and Europe, Asia Pacific and South America based on their regions. Due to its extensive adoption of additive manufacturing, North America was the dominant market. North American countries such as Canada and the United States were among the first to adopt 3D printing technology in different manufacturing processes.

Europe is the largest geographical region. Many players in the additive manufacturing industry are located there, and have strong technical knowledge about additive manufacturing processes. The European regional market is therefore the second largest.

The highest projected CAGR is expected to be in the Asia Pacific region over the forecast period. The rapid adoption of additive manufacturing within the Asia Pacific region can be attributed largely to the improvements and upgrades in the region's manufacturing industry. The Asia Pacific region is becoming a manufacturing hub for healthcare and automotive industries. The region's stronghold in consumer electronics production and rapid urbanization are contributing factors to the growing demand for 3-D printing.

Market Share Insights & Key Companies

Market players are focusing on improving the 3D printing technology to meet the increasing demand from aerospace, defense, healthcare and other verticals for manufacturing. Key players recognize the potential for business transformation through the incorporation of additive manufacturing into new product development process. Stratasys Ltd. is a market leader in 3D printing and has begun to move beyond prototyping to fully exploit the benefits that 3D printing offers for the entire manufacturing value chain. The company's innovative 3D printers feature Fused Deposition Modelling and Selective Absorption Fusion (SAF), which allows them to quickly and economically produce large-sized end-use parts through additive manufacturing. The following are some of the most prominent players in the global 3D printing industry:

• Stratasys, Ltd.

• Materialise

• EnvisionTec, Inc.

• 3D Systems, Inc.

• GE Additive

• Autodesk Inc.

• Made in Space

• Canon Inc.

• Voxeljet AG

Up Market Research published a new report titled “3D Printing Market research report which is segmented by Printer Type (Desktop, Industrial), By Players/Companies Stratasys Ltd, Made In Space, Canon Inc, Autodesk Inc, Materialise, EnvisionTec Inc, GE Additive, Voxeljet AG, 3D Systems Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global 3D Printing Market Report Segments:

The market is segmented by Printer Type (Desktop, Industrial).

3D Printing Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the 3D Printing Market

Overview of the regional outlook of the 3D Printing Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The 3D Printing Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of 3D Printing Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Desktop

                2. Industrial

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the 3D Printing Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the 3D Printing Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.