3D Printer Market to increase by USD 25.10 billion during 2022-2027, Increase in consumer interest in 3D customized products to drive the growth - Technavio
Wednesday, November 1, 2023
NEW YORK, Oct. 24, 2023 /PRNewswire/ -- The 3D printer market size is expected to grow by USD 25.10 billion between 2022 and 2027. However, the growth momentum of the market will accelerate at a CAGR of 23.49% during the forecast period. The market is segmented by Product (Industrial 3D printer and Desktop 3D printer), Technology (Fused deposition modeling, Selective laser sintering, Stereolithography, and Others), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The market is driven by the increase in consumer interest in 3D customized products. Consumers are exhibiting high interest in customized 3D products. They are either ordering the product from the companies that provide customized products or are purchasing a desktop 3D printer to design and develop in-house 3D printed products. Besides, 3D printers are becoming more affordable, and the increasing disposable incomes of consumers are encouraging them to invest in 3D printers to develop customized products. Industrial professionals are also actively investing in 3D printers to develop customized products and reach the expectations of customers and increase profits. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a PDF Sample
Key Highlights:
-- The report recognizes the following as some of the key players in the 3D
printer market: 3D Systems Corp., Autodesk Inc., Desktop Metal Inc., EOS
GmbH, Formlabs Inc, General Electric Co., HP Inc., JINHUA WANHAO SPARE
PARTS CO. LTD., Materialise NV, N3 Technologies Inc., Nano Dimension
Ltd., Organovo Holdings Inc., Proto Labs Inc., SLM Solutions Group AG,
Stratasys Ltd., Ultimaker BV, voxeljet AG, XYZPRINTING Inc., YFC
BonEagle ELECTRIC CO. LTD., and Zhejiang Flashforge 3D Technology Co.
Ltd.
-- 3D Printer Market is fragmented in nature.
-- Market to observe 22.33% YOY growth in 2023.
Market Dynamics:
Trend
-- The increase in 3D printing outsourcing is a key trend in the market.
-- Many companies are outsourcing 3D printing projects for both prototypes
and production runs to cut down costs.
-- The lack of equipment and the high cost of owning 3D printers are other
major factors leading to a significant rise in the demand for 3D
printing outsourcing services.
-- Moreover, it requires the right knowledge and experience to operate the
machine and to set up the right mix of materials.
Challenges
-- The high cost of training the workforce is a major factor hindering
market growth.
-- Providing technical training to the workforce on additive manufacturing
is high as 3D printers and their materials come at a high cost.
-- Several companies are investing in educating students on additive
manufacturing to build the future workforce for the global 3D printer
market.
-- Many vendors in the market are also providing technical training for
operators, developers, and designers on additive manufacturing.
The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
Keg Segments:
By product, the industrial 3D printer segment during the forecast period. The segment is driven by the increasing adoption of industrial 3D printers for designing, prototyping, and tooling in industries such as aerospace and defense, automotive, consumer electronics, and healthcare. Get a glance at the market contribution of the segments, Request a Sample
Related Reports:
The 3D printing materials market size is estimated to grow at a CAGR of 22.51% between 2022 and 2027.
The 3D Printing Market in Education Sector size is estimated to grow at a CAGR of 12.12% between 2022 and 2027.
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Technology
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com
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