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3D PRINTING MARKET SIZE TO CROSS $11 BILLION BY 2022, GROWING AT A CAGR OF OVER 27% DURING THE PERIOD 2016–2022
3D Printing Market Size, Share, Trends, Analysis Report by Product type (3D Printers, Desktop/personal, Industrial, 3D printing consumables, 3D printing software), End-users (Industrial machinery, Aerospace and defense, Healthcare, Automotive, Consumer products, and Others), Distribution Channels (Retail, Mass-market player, 3D printer specialist shop, Electronic stores, Company-owned retail outlet, and Online), and Geography (APAC, Europe, North America, and Rest of World) Industry Analysis Report, Regional Outlook, Growth Trends, Competitive Landscape, Market Share & Forecast, 2016–2022
GLOBAL 3D PRINTING MARKET REPORT SCOPE
|MARKET SIZE (REVENUE)||
Revenue (2022): $11 Billion
Compound Annual Growth Rate (CAGR): Over 27%
APAC, Europe, North America, and Rest of World
- The booming, cost-effective, and trend of mass customization in the 3D printing market will play a vital role in the manufacturing industry during the forecast period.
- Application of 3D printing is increasing significantly in industries such as aerospace and automotive. 3D printers are widely used to manufacture 3D-printed parts for fixtures, tooling, and jigs to ease and facilitate the process of manufacturing.
- APAC has high growth potential due to factors such as growth in manufacturing industries, increasing FDIs in APAC countries, penetration of low-cost desktop 3D printers, and industrial automation.
- The significant challenges faced in the 3D printing industry are lack of skill set, volatility in raw material prices, and high production time.
- 3D printing for rapid prototyping offers various advantages, and product designers are likely to move toward a cloud-based CAD system.
3D printing, which is also called additive manufacturing, is a process in which a three-dimensional or 3D solid or physical object is created using a digital file or a digital design. The 3D printed physical object is achieved via additive processes wherein successive layers of materials are laid down until the object is created.
Until 2022, in value terms, the YoY growth in the demand for 3D printing will be in double digits due to the high demand from North America and Europe coupled with the rise in awareness about these devices in developing countries of APAC and RoW. This is likely to contribute revenue to the 3D printing market shares during the forecast period.
The report provides a holistic view globally, the companies involved, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides Porter’s Five Forces analysis along with a description of each force and its impact. Further, the report also provides a complete value chain analysis.
Key Vendor Analysis
International players are likely to grow inorganically by acquiring regional or local players
The competitive scenario in the global 3D printing technology market is intensifying. The competition will be based solely in terms of features such as quality, quantity, technology, services, and price. The competition is expected to intensify further with an increase in product/service extensions, technological innovations, and M&A. Arizton believes international players would grow inorganically by acquiring regional or local players in the future.
- 3D Systems
- EOS GmbH.
Advantages of 3D printing over traditional manufacturing to drive the growth
Increasing vertical applications, growing market consolidation, and increasing demand for mass customization and production are the latest trends that are likely to accelerate the growth during the forecast period. Growth of investment in the 3D printing domain, internet shaping buyers’ purchasing behavior, advantages of these printing over traditional manufacturing are the key factors that are driving the market. The report also enlists and analysis the growth trends, drivers, and restraints during the forecast period.
Growth of Investment and e-commerce boost 3D printing market
The demand and investments in the 3D printing market has grown tremendously over the past couple of years. The market is also witnessing investments by public and private enterprises. The US, Germany, and Japan are the leading three countries to file the top 10 3D printing patents during 1995-2015. The US tops the chart with Stratasys and 3D Systems filing the most number of patents for the machines. Several countries such as Singapore, China, and others are investing in the R&D of the 3D printing technology. With the increasing penetration of internet and e-commerce websites, consumers get detailed information on products, including quality, safety measures, and user guidance, which in turn, will boost the demand for e-retailing among customers. Consumers feel more comfortable about purchasing personal 3D printing machines online due to their benefits offered through online purchases.
Insights by Segments
3D Printer segment to remain the largest during the forecast period.
The 3D printer market is the largest segment and is witnessing increased demand from the manufacturing industry in developed countries such as the US and Germany. The adoption of 3D printing in the industrial machinery industry is growing, and the it is likely to witness the contribution of this segment rise to 20.6% in 2022. The aerospace and defense segment will follow the industrial machinery segment. The healthcare segment is expected to be the fastest growing segment during the forecast period as innovations are making their way into various healthcare sectors such as orthopedics and implants during the forecast period.
Insights by Geography
North America to account for more than 38% market share
North America is likely to be the largest market followed by Europe. The demand for 3D printing services depends on the growth of the manufacturing industry in the North America region. Globally, North America is the largest for industrial automation, and the region is growing rapidly. This is expected to drive the demand in the region. Japan and China lead the 3D printing market shares in the APAC region. Latin America and MEA, constituting RoW, had low shares in 2016. However, with many vendors expanding their operations in Middle Eastern countries, Latin American, and African countries (except GCC countries) for gaining larger shares, the demand for these devices will grow in the region during the forecast period.
The 3D printing market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
By Product Types
- 3D Printers
- Industrial machinery
- Aerospace and defense
- Consumer products
By Distribution Channels
- Mass-market player
- 3D printer specialist shop
- Electronic stores
- Company-owned retail outlet
- North America
Key Questions Answered
- What is the 3D printing market size and growth rate during the forecast period?
- Which product/end-users/region is generating the largest revenue in the Europe region?
- What are the factors driving the growth of North America 3D printing market shares?
- How is the growth of the industrial machinery and aerospace segment influencing the growth of the 3D printing market?
- Who are the leading vendors in the 3D printing market, and what are their market shares?
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