3D Printing Market is forecast to reach USD 99.01 billion by 2030
The Global 3D Printing Market size is estimated to be USD 12.73 billion in 2019 and is predicted to reach USD 99.01 billion by 2030 with a CAGR of 20.5% from 2020-2030. 3D Printing is additive polymer technology which is also known as desktop fabrication which helps manufacturer to produce various products from the digital file. 3D printing involves various metals, polymers, ceramics and others materials. 3D printing helps to achieve the complex structures in reality which is apparently hard.
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There have been various developments taken place in the near future with technological advancement and wide application with developing infrastructure are expected to support the growth of 3D printing market. Furthermore, increased demand of customized product is also expected to fuel the market growth.
The other factors include increasing application in healthcare industry, reduced error with reduction in the manufacturing cost are further expected to support the growth of 3D printing market. However, high cost of 3D printing and lack of skilled labor are expected to impede the market growth. Moreover, increase in innovation and research and development over the period are expected to create numerous opportunities in the 3D printing market over the forecast period.
Market Segmentations and Scope of the Study:
The global 3D printing market share is analyzed on the basis of component, technology, end user and geography. Based on component, the market is fragmented into Software, Services and Hardware. On the basis of technology, the market is divided into SLA, FDM, SLS, EBM, DLP, and Others. On the basis of end user, the market is divided into Automotive, Healthcare, Industrial, Consumer electronics, Aerospace & defense, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America is expected to hold the major market share over the forecast period owing to presence of advanced technology and advanced infrastructure. Furthermore, increased demand of customized product with high disposable income is further expected to support the growth of 3D printing market.
Asia Pacific is expected show significant growth with gradual increase in market share owing to the wide application in different industries coupled with reduced error and reduction in manufacturing time are further expected to augment the market growth in the near future.
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The 3D printing market, which is highly competitive, consists of various market players. Some of the major market players include Arcam AB, 3D Systems, Stratasys Ltd, Autodesk, Inc., Hoganas AB, The ExOne Company, Organovo Holdings, Inc., Optomec, Inc., Voxeljet AG and Ponoko Limited among others.
Over the period of time there have been various developments taken place in the past and will further takes place in near future which contribute the overall market growth. For instance, in October 2019, 3D Systems and Antleron has announced collaboration, intended to play a pivotal role in advancing and accelerating breakthroughs in the biomedical industry. Bringing together two industry pioneers – 3D Systems for 3D printing technologies and healthcare expertise, and Antleron for leadership and innovation in the development of regenerative products and personalized patient care - the companies will collaborate to support Antleron’s development of bioprinting solutions utilizing 3D Systems’ printing technologies.