Global 3D Printer Market

Market Snapshot

Global 3D Printer Market

Market Synopsis:

Global 3D Printer Market is valued at 11.1 USD Billion in 2021 and projected to attain a value of 35.36 USD Billion by 2028 at a CAGR of 18.00% during the forecast period, 2022–2028.

3D printers have been around for a few years now, but their application has been limited to certain fields. However, with the advancement of technology and the decreasing cost of 3D printers, their use is becoming more widespread. There are now applications for 3D printers in almost every field, from medicine to construction. One of the most exciting applications of 3D printing is in the field of medicine. 3D printers can be used to create custom prosthetics and implants that are tailored to the individual patient's needs. This can help to reduce the healing time and improve the accuracy of medical treatments. 3D printing is also being used in construction. Large-scale 3D printers can be used to print entire buildings out of concrete, plastic, or metal. This can be done much more quickly and cheaply than traditional construction methods.

Falling Cost of 3D Printers to Drive Demand for 3D Printer Market

As the cost of 3D printers continues to fall, their adoption is expected to increase significantly in the coming years. This can be seen by the growing number of companies that are investing in this technology, as well as the increasing number of consumer applications that are being developed.

One reason for the falling cost of 3D printers is the increasing competition among manufacturers. This has led to a rapid decline in prices, and it is likely that this trend will continue in the future. In addition, as the technology becomes more mainstream, economies of scale are kicking in, which is also contributing to the declining costs.

Market Segmentation

Global 3D Printer Market is segment by technology, material, and region. On the basis of material, the Global 3D Printer Market is divided into four segments: plastics, metals, ceramics, and composites. The plastics segment is expected to hold the largest share of the Global 3D Printer Market during the forecast period. This can be attributed to the increasing use of plastics in medical applications. On the basis of technology, the Global 3D Printer Market is divided into three segments: laser-based 3D printers, electron beam melting (EBM) 3D printers, and material jetting 3D printers.

By Technology, Laser-Based 3D Printer to Dominate 3D Printer Market

On the basis of technology, the Global 3D Printer Market is divided into three segments: laser-based 3D printers, electron beam melting (EBM) 3D printers, and material jetting 3D printers. The laser based 3D printer segment is expected to hold the largest share of the Global 3D Printer Market during the forecast period. This can be attributed to the increasing adoption of laser-based 3D printers in medical applications. For instance, in January 2018, HP Inc. announced the launch of its HP Metal Jet 3D printing solution, which is a metal additive manufacturing system that is expected to offer high-quality and durable parts for industrial applications. This solution is expected to fuel the growth of the Global 3D Printer Market during the forecast period.

North America to Dominate Global 3D Printer Market

North America is the largest consumer and producer of 3D printers. The growth of the 3D printer market is mainly driven by the increasing demand for 3D printing in the aerospace, automotive, and healthcare industries. The increasing use of 3D printing in the manufacturing of aircraft parts, medical implants, and prosthetic devices is driving the growth of the 3D printer market.

Today, 3D printers are used to create physical objects from a digital model. They are used to produce prototypes, models, and end-products. 3D printing offers several advantages over traditional manufacturing methods such as reduced lead time, improved accuracy, and reduced wastage.

Key Players

Some of the key players operating in the Global 3D Printer Market are Stratasys Ltd. (U.S.), 3D Systems Corporation (U.S.), HP Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), and Canon Inc. (Japan). These players are adopting various strategies such as new product launches, expansions, and partnerships to capture a larger share of the Global 3D Printer Market.

For instance, in November 2017, Stratasys Ltd. announced the launch of its J750 3D printer, which can print six colors simultaneously to produce 3D models with realistic textures, shades, and transparent effects. This printer is expected to revolutionize the 3D printing market by providing an efficient and cost-effective way to create customized products.

Global 3D Printer Market is segmented as follows:

Global 3D Printer Market is tabulated as follows: