3D Printing Market Size to Reach Revenues of around $29 Billion

3D Printing Market Size to Reach Revenues of around $29 Billion by 2025 - Arizton

CHICAGO, Aug. 17, 2020 — (PRNewswire) — The global 3D printing market size is expected to grow at a CAGR of over 18% during the period 2019−2025.

Key Highlights Offered in the Report:

1. The global 3D printing market will contribute over $150 absolute growth during 2019-2025.

2. Registering a growth CAGR of over 18%, the global 3D printing market will contribute around $18 billion incremental growth during 2019-2025.

3. Buoyed by the growing demand for prototyping segment, the market revenue will reach over $10 billion in 2020.

4. Services component type dominated the market in 2019 with revenue of around $4 trillion.

5. North America will continue its market dominance during the forecast period.

6. Europe and countries in APAC are expected to witness strong traction in demand for 3D printing during the forecast period.

7. APAC is expected to witness the second-highest incremental growth of over $5 billion after North America during the forecast period.

Key Offerings:

Market Size & Forecast by Revenue | 2019−2025
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by component, end-user, application, process, and geography
Competitive Landscape – 13 key vendors and 37 other vendors

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3D Printing Market – Segmentation

3D printers have grown exponentially in recent years as they become cheaper, more efficient, and more capable. The demand for faster speed and higher printing reliability has driven manufacturers to shift their focus on metal 3D printing to production applications.
The aerospace and defense industry has been an early adopter of this technology and continues as a contributor to market growth. The demand for this technology in the aerospace industry is expected to increase during the forecast period owing to the high standard of parts performance and accuracy.
3D printing can be particularly useful for prototyping of jewelry design, architecture, or electronics in the manufacturing of mechanical components, cases, architectural templates, props, and practical consumer goods. Rapid prototyping is a cost-effective option for almost any 3D concept, from small pieces to massive outputs.

3D Printing Market by Component

Printers

By Sub-products

Personal/Desktop
Professional
Design
Industrial

BY Machine Type

Metal
Polymer
Ceramic and Others

Software
Materials
Services

3D Printing Market by End-user

Industrial Machinery
Aerospace & Defense
Healthcare
Automotive
Consumer Products
Others

3D Printing Market by Application

Prototyping
Tooling
Functional Part Manufacturing

3D Printing Market by Operation

Extrusion
VAT Polymerization
Powder Bed Fusion
Material Jetting
Others

3D Printing Market – Dynamics

Sustainable development is growth that satisfies current needs without undermining future generations' capacity to fulfill their needs. Businesses are searching for ways to automate their production practices in a strategy known as circular manufacturing to reduce energy use and waste. Considering all 3D printing elements, from the use of raw materials to waste reduction, it is stronger than traditional production methods. Two key factors that have made 3D printing popular for its green technology are its ability to minimize waste using subtractive manufacturing, where content is applied layer by layer and its ability to manufacture directly at the client's place, thus eliminating logistics and travel problems.

Key Drivers and Trends fueling Market Growth:

Scalability from Rapid Prototyping to Production
Accelerated Growth due to Evolution of 3D Printing Software
Initiatives and Spending by the Government
Flexibility and Ease of Developing Customized Products

3D Printing Market – Geography

The 3D printing industry continues to dominate North America. Most of this share comes from the US, which remains the global leader in 3D printing due to its early technical advancement and historical success in conventional manufacturing. The advancement of technology in the area is also driven by the number of major players in the industry and the number of patents in the lead. More than 30% of 3D printing companies are headquartered in the US, the largest in the world. These include established players, such as 3D Systems and Stratasys, the trifecta of unicorns and many traditional manufacturing companies that have made a leap into 3D printing, such as GE & HP.

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3D Printing Market by Geography