PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550553
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1550553
The Global 3D Printing Market is estimated to be valued at USD 19.06 Billion in 2024 and is expected to reach USD 68.97 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 20.2% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 19.06 Bn |
Historical Data for: | 2019 To 2023 | Forecast Period: | 2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: | 20.20% | 2031 Value Projection: | US$ 68.97 Bn |
The global 3D printing market has seen tremendous growth over the past decade driven by expanding applications in diverse industries. 3D printing, also known as additive manufacturing, is the process of producing three dimensional solid objects from a digital file. It allows the creation of complex geometries that would otherwise be impossible to manufacture using conventional methods. From automotive to aerospace and medical to consumer goods, 3D printing brings significant advantages to product design and manufacturing processes. The technology enables mass customization, cost savings through optimized design and reduced material wastage. Advancements in materials, software and printers are making 3D printing more accessible and affordable for businesses of all sizes. With several applications yet to be explored fully and ongoing innovations, the 3D printing industry is poised to revolutionize manufacturing worldwide.
The global 3D printing market is projected to grow at a compound annual growth rate of over 20% between 2024 to 2031 driven by several factors. Significant reduction in 3D printer prices over the past few years is encouraging adoption across new application areas and by small businesses. Improving functionality of desktop 3D printers allow for in-house prototyping and production of non-critical parts. Large scale production using industrial 3D printers is finding use cases in automotive and aerospace manufacturing for superior designs. The scope of compatible materials for 3D printing has increased multi-fold including thermosets, advanced metals and composites. This is enhancing applications from prototypes to end-use products. Software advancements for 3D modeling, scanning, slicing and process simulation are supporting complex designs. However, constraints around limited materials, print speeds and sizes continue to hinder broader uptake. High capital expenditure required for industrial 3D printers also poses a challenge, especially for SMEs.
This report provides in-depth analysis of the global 3D printing market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global 3D printing market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include 3D Systems Corporation, Arkema, EOS GmbH, ExOne Company, General Electric Company (GE Additive), Hewlett Packard Inc., Markforged Holding Corporation, Materialise NV, Renishaw plc, SLM Solutions Group AG, Stratasys Ltd, Sisma SPA, Ultimaker BV, voxeljet AG, and Xometry Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global 3D printing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global 3D printing market.