The size of the 3D Printing Market was around USD 9.9 Billion by revenue, at the end of 2019. It is expected to grow at a CAGR of 23.36 % to reach close to USD 28.28 Billion by the end of 2024.
The rise in demand for customized products is the reason for the high prosperous growth of the 3D printing market. 3D printing medical devices hold the major market share all over the globe.
Recent Industry Developments:
Zortrax, a polish based 3D printing company, has launched a new 3D printer Inkspire UV LCD printer, an SLA printer which is considered to be the cheapest and offers speed and quality of resin-based with the finish and fit for the hardware.
Ease in the development of customized products, process downtime, and decrement in the manufacturing cost is the main driving factors of the market for 3D printing. Also, the investments by various governments across the globe in 3D printing projects, and chances for development of industrial-grade 3D printing materials are considered to be some other factoring helping the growth of the market.
However, the lack of technology to fulfill the desired large scale 3D printers is the major restraint to the growth of the 3D printing market. Also, the market accumulation in North America and Europe make the market expansion highly unlikely in parts like Latin America and Africa.
Among the mentioned offerings the service sector is calculated to have the highest share of the market by the end of the financial year of 2019. The expected growth is due to the projected increase in demand for custom design and the manufacturing segment of the market. This is where 3D printing comes handy as it cuts down the cost of customized products to the minimum and also in as little as no time.
Of the mentioned processes the bed fusion process is projected to be the fastest-growing segment which had the largest share of the revenue generated in the 3D printing market in 2018. This process is mainly used in the aerospace, engineering and automobile verticals of the end-user.
By geography, the 3D Printing Market is segmented as
North America leads the 3D Printing market by both value and volume, as per the statistics in 2018. The situation of all the market key players in this region is an added advantage to its significant market position. Europe is second in the lead in the market for 3D Printing. The presence of a considerable customer base in and around this region is helping in the growth of the 3D printing market in Europe. Also, the technological supremacy of these regions over the rest of the world allows them to develop in this newly emerging field, causing the eye-catching performance in the 3D Printing market.
The Asia Pacific follows Europe the lead in the 3D printing market in the estimated forecast period. This region is anticipated to have the highest growth rate in the market for 3D Printing owing to the interest shown from the top leading software companies in the Asia Pacific region, mainly towards India, China, and Japan, causing for the high hopes of growth rate.
The growth in the Asia Pacific region is also attributed to the high future opportunities in fast-developing economies like India, and Japan. Although the Asia Pacific region will not be leading the market for 3D Printing, it is expected to attract major market giants towards expansion into the region. The regional advantages offered in this region, such as ease of setup and cheap resources, are the sole reason for this region’s advancement in the market.
On the other hand, the Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the 3D Printing Market in these regions is slow-growing in nature.
By the end of 2018, the following are the leading shareholders of the global 3D Printing Market.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Market Share Analysis
5.2 Product Benchmarking
5.3 Regional Presence
5.4 Mergers & Acquistion Landscape
5.5 Joint Ventures & Collaborations
6. Market Segmentation
6.1 3D Printing Market, by Offering
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 3D Printing Market, by Process
6.2.1 Binder Jetting
6.2.2 Direct Energy Deposition
6.2.3 Material Extrusion
6.2.4 Material Jetting
6.2.5 Powder Bed Fusion
6.2.6 Market Size Estimations & Forecasts (2019-2024)
6.2.7 Y-o-Y Growth Rate Analysis
6.2.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2019-2024)
7.2.1 By Country
7.2.2 By Offering
7.2.3 By Process
7.2.4 Y-o-Y Growth Rate Analysis
7.2.5 Market Attractiveness Index
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Offering
7.3.3 By Process
7.3.4 Y-o-Y Growth Rate Analysis
7.3.5 Market Attractiveness Index
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Offering
7.4.3 By Process
7.4.4 Y-o-Y Growth Rate Analysis
7.4.5 Market Attractiveness Index
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Offering
7.5.3 By Process
7.5.4 Y-o-Y Growth Rate Analysis
7.5.5 Market Attractiveness Index
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Offering
7.6.3 By Process
7.6.4 Y-o-Y Growth Rate Analysis
7.6.5 Market Attractiveness Index
8. Key Player Analysis
8.1 3D Systems
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 EOS GmbH
8.3 Arcam AB
8.5 Autodesk, Inc.
8.7 Stratasys Ltd.
8.8 SLM Solutions
8.10 The ExOne Company
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures