ID: MRFR/SEM/0525-HCR | February 2021 | Region: Global | 110 pages
In various industries, 3d printing works as an additive manufacturing and revolutionary technology. 3D printings are commonly used to synthesize three-dimensional objects by referring to multiple processes. 3d printing is made up of raw material using advanced technology, which is designed to convert into three-dimensional objects.
Currently, the global market has generated USD 13.63 Billion of 3d printing market size 2020. The market has expectations to reach USD 35.38 Billion with a CAGR of 14.6% for the forecast period of 2020 to 2027. Investors are increasing their investment in 3d technology is one of the major drivers for the 3d printing market
The report has focused on the detailed analysis of the global 3d printing market network and the various segments and sub-segments concerning regional areas. Moreover, the report has highlighted a country's market analysis concerning the current 3d Printing Market Size and future prospective of the global market. It has also explained the factors affecting the market growth by analyzing the production cost and supply chain of the global market. Further, the report has briefly analyzed the key player's core competencies and illustrating a competitive analysis for the global market.
COVID 19 has affected almost all sectors, and 3d printing was not deprived of it. The 3d printing market growth has also experienced a halt. Many of the consumers were not ready to invest money in 3d printing services for various reasons. The pandemic outbreak brought many challenges for the 3d printing market, such as health safety challenges, manufacturing material shortage, labor shortage, and many more.
The 3d printing producers are planning on leveraging the increased customers’ demands for the 3d service using the latest technology to enhance the global market revenue generation. COVID19 slowed down the global market's economic growth, but the key players have taken various suitable measures to revive it for better profitable outcomes.
With the COVID adversities experiencing a reduction, the key players are the primary market drivers. Businesses are now adapting to the increased need for industrial 3d printing technologies to increase the 3d printing market's potential. Most of the small and medium entrepreneurs are leveraging 3d printing technologies to need the automated manufacturing process.
Economically, addictive manufacturing is opening its door towards digital reinvention for worldwide manufacturing. The government and private firms invest more in these addictive manufacturing to aid industrial 3d printing market growth and develop the country’s economic growth. The 3d printing market analysis has explained the market driving potential is in the hands of the key players to reach the increased customer demand.
The 3d printing market growth is expected to boom on a larger scale as the high adaptation of the advanced 3d technology. The global market's growth rate is booming day by day, which is good for successful growth in the current forecast years.
The high adaptations of 3d technology require more services to function provide some noticeable growth potential to the overall market.
Advanced 3d technology has brought revolution over the traditional manufacturing process. However, the advanced technology has some limiting factors like a high initial investment to increase the market growth. The cost associated with the manufacturing needs to improve hardware, software, and material parts. It can be a restraint for the global market.
Another restraint was the unpredicted COVID-19 situation, which created major loss in the 3d printing market. The key drivers are working hard to reach the market size for the forecast period of 2027.
Like the restraints, the global 3d printing market also faces challenges such as cost-effectiveness problems. These challenges need to be eradicated to ensure higher productivity in terms of sales and revenue.
The COVID-19 outbreak brought many challenges for the 3d printing market, such as health safety challenges, manufacturing material shortage, labor shortage, and many more. The key players are enhancing the efficiency of 3d printing within the market to improve sales and opportunities. The cost-effectiveness problems are often recorded by the end-users, which will be attended by the key players in the current forecast years.
The global 3d printing market's growth analysis has registered at CAGR 14.6%, which is truly commendable. The market revenue generation has expectations for the current forecast year is relatively higher than the previous period.
The key players of various regions are putting in their collective effort and strengths to ensure that the 3d printing market thrives across multiple areas regarding increased demands and sales.
Technology Analysis of the Global Market
Many industrial sectors have successfully adapted to the global 3D Printing Market, due to which the overall growth potential has enhanced. These manufacturing sectors have understood the global demands over 3d printing for increasing the functionality of Selective laser melting (SLM), Digital Light Processing(DLP), Electronic Beam Melting (EBM, Laminated object manufacturing (LOM, Stereolithography(SLA), Fused deposition modeling (FDM), and Selective Laser Sintering (SLS).
Thus, the key players are also enhancing the technology potential behind the service to increase the productions and sales opportunities.
The 3d printing market has various segmental offerings such as Material, Software, Printer, and services.
The report mentions that these segmental offerings of the 3d printing market have their functions and features, which help generate market value and market size worldwide.
The global market has two segmental operational models, i.e., In-house and Service Provider. These two operational models have work processes very differently from each other.
According to the segmental classification, the 3d printing market has different processes such as Material Jetting, Sheet Lamination, Binder Jetting Powder Bed Fusion, Material Extrusion, Vat Photopolymerization, and Directed Energy Deposition.
The global 3d printing market runs to the sky because of the different segmental processes demands all over the world.
According to the segmental classification, the 3d printing market has materials like Polymer, Nylon, Metal, and Ceramic.
The 3d printing market segmentation report mentions that these materials have unique features and functionality.
The 3d printing market has various segmental applications in the Pharma and Medical, Consumer goods, Automotive and Aerospace, Plastics, Wholesale and Retail, Energy Logistics, Mechanical, and Plant Engineering, Electronics, and Transport.
The report explains that the various applications of 3d printing have increased the global market demand and creates more opportunities for all industrialists.
Based on the regional classification, the3d printing market trends are widely spread across various world regions. Some of the popular areas include North America, Europe, Asia Pacific, and The Middle East& Africa.
Out of all the regions, Europe has domination over the global market share in the entire market with its impeccable demands and key players' collective efforts to increase the supply. It offers a maximum contribution for increasing revenue generation.
The 3d printing market leaders have more competition all over the regions. These key leaders or players are:
These companies have increased the service-providing efficiency by enhancing the quality of 3d printing as well. Therefore, Stratasys and 3D Systems dominated the 3D printing industry and generating high market revenue for the forecast period.
In September 2018, The company extended its collaboration with Team Penske (US) for offering FDM additive manufacturing (by using Fortus 380mc Carbon Fiber Edition and Stratasys F900 Production 3D printers) for advance car testing and production of prototypes and functional parts based on advanced materials, such as carbon fiber-filled Nylon 12.
The report overview is as follows:
The report puts light on some of the global essential growth factors as 3D Printing Market Place. It highlights the market potential being leveraged to experience more market revenue collection across the world.
|Market Size||USD 35.38 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Technology, Operational Model, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||MyMiniFactory (U.K.), Stratasys Ltd. (U.S.), Com, Inc. (U.S.), Canon Inc. (Japan), Arcam Group (Swedan), 3D Systems Corporation (U.S.), Envisiontec GmbH (Germany), Proto Labs (U.S.), HP Inc (U.S.), Graphene 3D Lab Inc. (U.S.), Formlab (U.S.), Shapeways (U.S.), 3D Hubs (Netherlands), Carbon 3D (U.S.), Ultimaker (Netherlands), Zortrax (Poland), Local Motors (U.S.), 3d ceram (France), Reprap (Denmark), Beijing Tiertime Technology Co., Ltd. (China), Shapeways, Inc. (U.S.), Wiivv Wearables Inc. (Canada), The Argen Corporation (U.S.), Materialise NV (Belgium), The Exone Company (U.S.), Optomec Inc. (U.S.)|
|Key Market Opportunities||high adaptation of the advanced 3d technology|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
3D printing, simply put, is a type of manufacturing process that additively forms or builds 3D parts in layers from CAD data.
Recent technological developments and reduction in material wasted in manufacturing are the key factors driving the 3D printing market growth.
North America will lead the 3D printing market.
Different materials used in 3D printing include ceramic, nylon, polymer, metal, and others.
Key players profiled in the 3D printing market include Formlab (U.S.), Shapeways (U.S.), 3D Hubs (Netherlands), Carbon 3D (U.S.), Ultimaker (Netherlands), Zortrax (Poland), Local Motors (U.S.), MyMiniFactory (U.K.), Stratasys Ltd. (U.S.), Amazon.Com, Inc. (U.S.), Canon Inc. (Japan), HP Inc (U.S.), Graphene 3D Lab Inc. (U.S.), Beijing Tiertime Technology Co., Ltd. (China), Shapeways, Inc. (U.S.), Wiivv Wearables Inc. (Canada), The Argen Corporation (U.S.), Materialise NV (Belgium), The Exone Company (U.S.), Arcam Group (Swedan), 3D Systems Corporation (U.S.), Envisiontec GmbH (Germany), Proto Labs (U.S.), Optomec Inc. (U.S.), 3d ceram (France), Reprap (Denmark) among others.