According to Custom Market Insights (CMI), the global 3D Printer Market share was estimated at USD 23.7 billion in 2023 and is anticipated to reach around USD 149.4 billion by 2030, recording a CAGR of roughly 20.5% between 2023 and 2030.
3D printing technology is gaining popularity due to its capability of providing precise and swift prototyping which can help in reducing the time to market. The growing usage of 3D printers in the healthcare, automotive, and consumer electronics industries is expected to boost market growth significantly.
Browse the full “3D Printer Market Size, Trends and Insights By Component (3D Printers, 3D Printing Services, 3D Printing Software, Consulting Services, Support Services, Others), By Technology (Digital Light Processing (DLP), Direct Metal Laser Sintering (DMLS), Electron Beam Melting (EBM), Fused Deposition Modelling (FDM), Selective Laser Sintering (SLS), Stereolithography, Others), By Application (Production Parts, Prototypes, Tools & Fixtures), By Industry (Aerospace & Aeronautics, Automotive, Consumer Goods, Healthcare & Medical Devices, Industrial, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/3d-printer-market/
The 3D printer market is experiencing significant growth due to various factors, including the increasing adoption of 3D printing technology in various industries such as healthcare, automotive, and consumer electronics. This adoption is driven by the ability of the technology to offer accurate and rapid prototyping, which helps optimize time to market.
Another driver for the 3D printer market is the continual supply of new competitors, leading to increased innovation and the development of new products and services. Moreover, the emergence of Industry 4.0, which combines cutting-edge manufacturing and production methods with digital technology, is creating significant demand prospects for global and regional market players.
However, the high installation and maintenance cost of 3D printers remains a significant challenge for small and medium-sized businesses, which are hesitant to invest in the technology. Additionally, a lack of technical expertise and standardized quality control measures are anticipated to restrain the 3D printing industry’s expansion.
Overall, the 3D printer market is dynamic and evolving, with various drivers and challenges impacting its growth and development.
The global 3D printing industry was significantly impacted by the COVID-19 pandemic, which had a severe impact on the global economy. Initially, the virus had a significant impact on Europe and the Asia Pacific, with the situation worsening in the United States. The lockdowns implemented in several key cities resulted in a complete halt in the production of 3D printing manufacturers. This was primarily due to the shortage of labor and disruptions in logistics and supply chains. As a result, the growth of the 3D printing market was adversely affected in the first and second quarters of 2020
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3D Printer Market Share Insights
The global 3D printer market is highly competitive and is characterized by the presence of several large and small players. The leading players in the market include Stratasys Ltd., 3D Systems Corporation, EOS GmbH, Materialise NV, SLM Solutions Group AG, Concept Laser GmbH, Ultimaker BV, The ExOne Company, Voxeljet AG, and HP Inc. These companies are investing heavily in research and development activities to develop new products and expand their market share.
Moreover, strategic collaborations, partnerships, and acquisitions are also key strategies adopted by these players to expand their business operations and strengthen their market position. For instance, in January 2022, Stratasys Ltd. acquired the UK-based Origin, a developer of resin-based 3D printing technology, to expand its product portfolio and offer a wider range of solutions to its customers.
The market is also witnessing the entry of several new players, particularly from the Asia Pacific region, which is expected to intensify the competition in the market. The intense competition is expected to result in a reduction in the prices of 3D printers, making them more accessible to small and medium-sized enterprises.
Prominent Key Players in The Market:
- Stratasys Ltd.
- EnvisionTec Inc.
- 3D Systems Inc.
- GE Additive
- Autodesk Inc.
- Made In Space
- Canon Inc.
- Voxeljet AG
Table of Contents: https://www.custommarketinsights.com/report/3d-printer-market/#table-of-contents
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