Global 3D Printing Market is expected to grow due to Emerging applications of 3D printing technology in automotive and Growing 3D Technology Investments by Manufacturers during the forecast period of 2024-2028.
According to TechSci Research report, Global 3D Printing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2028, the Global 3D Printing Market is anticipated to register robust growth during the forecast period. The demand for online 3D printing for simulation purposes is expected to rise because of significant driving factors like rapidly expanding digitization and the support for the implementation of cutting-edge technologies like Industry 4.0, smart factories, robotics, and Machine Learning (ML).
Global 3D Printing Market is segmented based on Component, Printer Type, Technology, Process, Vertical, regional distribution and competitive landscape. Based on Component, the market is divided into Hardware, Software and Services. Further, the Software sub-Segment is fragmented into Design Software, Inspection Software, Printer Software, and Scanning Software. Based on Printer Type, the market is segmented into Desktop 3D Printer and Industrial Printer. Based on Technology, the market is divided into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, and Others. Based on Process, the market is divided into Powder Bed Fusion, Vat Polymerization/ Liquid Based, Material Extrusion, Binder Jetting, Material Jetting, and Others. Based on Vertical, the market is divided into Automobile, Consumer Electronics, Medical, Aerospace & Defense, Education, and Others. Based on region, the market is further bifurcated into North America, Asia-Pacific, Europe, South America, Middle East & Africa.
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Based on technology, Selective Laser Sintering (SLS) Technology is Expected to dominate the Market. Due to its numerous advantages over other technologies. As an alternative to stereolithography’s photosensitive resin, SLS makes use of 12 powder nylon as its raw material. Businesses and organizations are utilizing this material and technology worldwide to address issues like the resin’s brittleness when exposed to sunlight. Because it does not require a dedicated support structure after printing, SLS has also been demonstrated to be cost and material-friendly. In addition, SLS can perform both functional parts and prototypes and offers advanced durability. Additionally, SLS finds use in a wide range of industries, including automotive, aerospace, and defense. With space investigation seeing a change in outlook, the interest for SLS printing is supposed to mount, with a rising number of nations equipping to send off satellites.
SLS is also increasingly being used in sports cars and electric cars. The IEA estimates that there 7 million electric car are sale worldwide in the year 2021, and expected to grow at 80% by 2050. SLS 3D printing technology is being increasingly used in electric vehicles by major automakers, which is expected to boost global demand and drive the Global 3D Printing Market growth.
Based on Region, North America Holds the Largest Share in the Market. It is anticipated that a series of innovative product launches will further boost market expansion. For enhanced market presence, several 3D printing solution providers worldwide are expanding their presence in the North American market. In addition, several investments are being made in North America’s healthcare, aerospace, and defense, industrial, and consumer goods sectors, all of which are anticipated to expand significantly in the coming years. In the United States, 3D printing technology is expected to be driven by smart clothing and fitness trackers. Additionally, the growing demand for flexible electronic systems and bands that can be manufactured using 3D printing technology has resulted from shifting consumer preferences and an increasing demand for personalization. The market’s expansion has been fueled by the realization that significant investments in 3D printing technologies can significantly advance zero-gravity technologies and space applications.
Key market players in the Global 3D Printing Market are:
- Stratasys Ltd
- 3D Systems Corporation
- EOS GmbH
- General Electric Company (GE Additive)
- Sisma SPA
- ExOne Co.
- SLM Solutions Group AG
- Proto Labs Inc.
- Hewlett Packard Inc.
- Nano Dimernsion Ltd
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“3D Printing Market will grow in the forecast period due to Global Government investment in 3D printing projects and Substantial Investments of Governments and Tech Giants. In addition, the accessibility of this technology has increased due to rising expertise and awareness as well as lower machine prices built on additive manufacturing. The use of a variety of materials has been made possible by more recent and advanced fused deposition modeling skills, resulting in their widespread adoption across a variety of industries in recent years. However, the market’s expansion is anticipated to be hampered by the fact that as technology develops, additive manufacturing may pose a threat to conventional methods of intellectual property (IP) protection and significantly increase the illegal use of printed weapons and drugs. “The various technological advancements, like artificial intelligence and machine learning, further encourage the use of 3D printing tools” said, Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“3D Printing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018–2028F. Segmented By Component (Hardware, Software and Services), (By Software (Design Software, Inspection Software, Printer Software, Scanning Software)), By Printer Type (Desktop 3D Printer, Industrial Printer), By Technology (Stereolithography, Fuse Deposition Modelling, Selective Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, Others), By Process (Powder Bed Fusion, Vat Polymerization/ Liquid Based, Material Extrusion, Binder Jetting, Material Jetting, Others), By Vertical (Automobile, Consumer Electronics, Medical, Aerospace & Defense, Education, Others), By Region” has evaluated the future growth potential of 3D Printing Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global 3D Printing Market.
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