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Industrial 3D Printing Market Size, Share & Covid-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (FDM, SLS, SLA, DMLS/SLM, Polyjet, Multi Jet Fusion, DLP, Binder Jetting, EBM, CLIP/CDLP, SDL, and LOM), Application (Prototyping, Production), End-User (Automotive, Aerospace and Defense, Healthcare, Architecture and Construction, Consumer Products) and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101902

 

Market Analysis - 2026

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The global industrial 3D printing market size was USD 10.41 billion in 2019 and is projected to reach USD 54.96 billion by 2027, exhibiting a CAGR of 23.5% during the forecast period.  


The global market is expected to witness exponential growth during the forecast period mainly because of the high adoption of 3D printed materials by numerous industry verticals including automotive, aerospace and defense, and healthcare. Industrial 3D printing technology provides numerous opportunities for end-use verticals to transform their conventional manufacturing to advanced manufacturing units. Increased adoption of 3D printed material in the healthcare industry is expected to drive market growth. As part of a business expansion strategy, key players are introducing new solutions and indulging in collaborations with other companies. For instance, in August 2020, MakerBot Industries, one of the prominent players in the additive manufacturing industry and a subsidiary of Stratasys Ltd. launched MakerBot CloudPrint software. MakerBot CloudPrint software is a cloud-based 3D printing software that enables teams and individuals to use the technology collaboratively across multiple devices.


During the coronavirus spread, industrial 3D printing technology has been at the forefront and enabling manufacturers to smoothen their productions and manage supply chains.


COVID-19 Impact


Additive Manufacturing Technology to Assist the Fight Against Covid-19


The economic instability triggered by the pandemic of COVID-19 has brought the globe into a crisis. Logistical problems, along with push backs toward globalization and free trade, have limited supply chains, which have created severe shortages of vital goods and logistics. The spread of Covid-19 has created several challenges, including labor shortage, shortage of manufacturing materials, and health safety challenges. Thus, due to the supply chain disruption and transport legislations, the global market is expected to witness a major setback in the short term.


With the recent epidemic of COVID-19, the industry has come together to combat the parts and equipment required to tackle this new coronavirus. Technology is playing a key role in the manufacturing of personal protective equipment (PPE), personal accessories, medical and testing devices among others. Key market players in the industry are taking necessary actions to use industrial 3D printing technology as a major line of defense against virus spread.


For instance, in July 2020, Structo Pte Ltd, one of the leading players commenced the manufacturing of 3D printed Pre-Sterilized Nasopharyngeal (NP) swab testing kits, which will be used in different hospitals and testing labs across Singapore.


LATEST TRENDS


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3D Printed Parts to Play Vital Role in Electric Vehicle Manufacturing


Automotive companies and Original Equipment Manufacturers (OEM) are required to respond to emerging developments in automobiles, electric cars due to the high demand from customers. As a result, automotive manufacturers are implementing 3D printed solutions and parts in order to remain competitive in the age of Industry 4.0.  As the industry transitions from internal combustion engines to electric cars, industrial 3D printing is a solution capable of speeding up production and altering fundamentally understanding of the design of automobile parts. This technology enables electric vehicle manufacturers to produce lightweight automotive parts such as batteries, engines, and other components. Additive manufacturing has helped manufacturers to speed up electric vehicle manufacturing and is expected to gain traction during the forecast period.


DRIVING FACTORS


Increased Adoption of 3D Printed Parts to Drive Market


Manufacturing and shipping complex design and spare parts have been a difficult task for manufacturers these days that has resulted in higher production costs. Industrial 3D printing technology makes it easier for product designers and engineers to produce cheaper, faster, and effective complex designs. Aerospace and defense, consumer electronics, and healthcare among others are key adopters of the technology and are looking for innovative ways to automate manufacturing processes. Automotive, aerospace, and defense companies are heavily adopting 3D printed solutions to foster manufacturing processes and reduce costs. In the automotive and defense industry, technology is used to manufacture lightweight electronic components. While the dental application is one of the largest applications of industrial 3D printing technology in the healthcare industry, technology has been highly adopted by medical professionals to create tissues, prosthetics, and medical implants. Thus, with end-user verticals leaning towards advanced technologies to smoothen manufacturing processes, industrial 3D printing will be at the forefront among all.


Government Investments in 3D Printing Projects to Aid Industrial 3D Printing Market Growth


Additive manufacturing is currently in the process of opening up the door for a digital reinvention for the global manufacturing industry, scientifically and economically. For nations to understand the tremendous economic value of additive manufacturing technology in the entirely digitized new world, extensive government participation is necessary. Governments and private firms in the regions are making substantial investments to build a sustainable and successful additive manufacturing ecosystem. For instance,



  • In October 2019, Structo Pte Ltd, an industrial 3D printing solution provider based in Singapore received an undisclosed amount of funding from EDBI Pte Ltd, a Singapore-based investor. The company aims to use this round of funding to create innovation in the dental industry and strengthen its footprints.

  • In November 2018, BASF SE, a chemical company based in Germany invested in Prismlab, an industrial 3D printing solution provider headquartered in Shanghai, China.


Such investments will bolster the regional industrial 3d printing market, creating more jobs with evaluated economic growth.


RESTRAINING FACTORS


High Initial Investments Associated with 3D Printed Solutions to Hinder Market Growth


Even though technology provides numerous benefits over traditional manufacturing processes, technology is subjected to a few limiting factors. One of the major factors that are limiting the adoption of 3D printed solutions across industry verticals is the high initial investments associated with it. Manufacturing lightweight and complex components with industrial 3D printing technology required hardware, software, materials, among others. Thus the cost associated with manufacturing required parts increases.


SEGMENTATION


By Component Analysis


Hardware Segment to Augment Largest Market Share


Based on the component segment the market is categorized as hardware, software, and services.


The hardware segment holds the largest market share in 2019 and is expected to maintain its dominance over the forecast period. With businesses moving towards advanced manufacturing processes, the adoption of 3D printers and hardware is expected to grow to manufacture complex designs and prototypes. With 3D printing hardware, companies are in a better position to boost manufacturing processes and create intricate designs with ease and accuracy.


The software segment is expected to witness the highest CAGR during the forecast period. Industrial 3D printing software is widely used in different industry verticals for the design and implementation of manufacturing parts. Whereas, the services segment offers maintenance and installation, and other post-sale services.


By Technology Analysis


Increasing Demand for High-end Prototypes is likely to Drive the FDM Demand


Based on the technology segment the market is categorized as FDM (Fused Deposition Modeling), SLS (Selective Laser Sintering) , SLA (Stereolithography) , DMLS/SLM (Direct Metal Laser Sintering), Polyjet, Multi Jet Fusion, DLP (Digital Light Processing), Binder Jetting, EBM (Electron-beam additive manufacturing) , CLIP/CDLP (Continuous Liquid Interface Production), SDL (Selective Deposits Layer), and LOM (Laminated Object Manufacturing).


The fused deposition modeling (FDM) segment captured maximum market share in 2019. FDM technology is one of the widely used technologies for prototyping and designing parts. The increased demand for FDM printed parts from the automotive and healthcare vertical is expected to contribute to the growth of the segment. Parts and designs manufactured with FDM technology are durable and strong.


Direct Metal Laser Sintering (DMLS/SLM) technology is expected to grow at a high CAGR during the forecast period. The DMLS technology has been widely used by manufacturers to design and make complex prototypes. DMLS technology incorporates pressure and heat to manufacture parts. DMLS is used to build complicated systems for equipment and machinery components in sectors such as the aerospace and automotive industries. The detailed resolution, cost-effective development, and simple handling are the key factors for the market growth of DMLS based industrial 3D printing.


By Application Analysis


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Prototyping Segment to Capture Maximum Market Share


Based on the application segment the market is categorized as prototyping, production, proof of concept, and others.


The prototyping application segment held the largest market share in 2019. The growth of the segment is mainly owing to the increased adoption of 3D printed prototypes among several industry verticals. The automotive and defense verticals particularly use prototyping applications for designing and developing complex parts precisely. Prototyping makes it possible to increase the precision of manufacturers and to create efficient products. Thus, during the forecast period, the prototyping segment will continue to dominate the market.


The production segment is expected to experience strong growth. Although manufacturers move their conventional manufacturing units to automated production methods, the use of 3D printing is expected to rise during the forecast period for the production of complex and low-volume components.


By End User Analysis


Automotive Segment to Dominate the Market in 2019


Based on the application segment the market is categorized as automotive, aerospace and defense, healthcare, architecture and construction, consumer products, education, and others.


The adoption of 3D printed materials and spare parts in the automotive industry is expected to hold maximum share in 2019. This technology is largely explored in automotive manufacturing processes. In addition to the widespread use of this technology for fast prototyping, it is used for tools and in some instances also for product manufacturing. Automotive manufacturers and OEMs are largely an option for additive manufacturing technology for the design and implementation of complex designs. For instance, Ford, one of the largest automotive companies started implementing 3D printed prototypes for its 2020 Shelby GT500. Automotive manufacturers are heavily dependent on 3D printing technology for the manufacturing of complex automotive parts.


The adoption of additive manufacturing in the healthcare industry has contributed significantly to the market. 3D bioprinting is used in healthcare to create live human cells or tissues that can be used in regenerative medicine and tissue engineering. 3D printing is a fast-growing industry with future effects on various industries, including health care. The technology is commonly used in medicine from biostructures composed of cells to assistive devices and surgical instruments.


REGIONAL INSIGHTS


North America industrial 3D Printing Market Size, 2019 (USD Billion)

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By region, the market has been analyzed across five major regions namely North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.


North America accounted for the maximum market share and is expected to continue its dominance over the forecast period mainly owing to the increased technological developments in manufacturing industries in the US and Canada. Mainly owing to the early developments in the manufacturing industry and historic leadership in conventional manufacturing processes, the United States remains the leader in the regional market. Consumer shift from traditional manufacturing processes to advanced manufacturing techniques is expected to create valuable opportunities for key players in the region. Also, growing research and development activities in the region have further bolstered the market growth. For instance, in August 2018, Formlabs, a leading industrial 3D printing technology company headquartered in the United States raised $15 million in funding from New Enterprise Associates (NEA).


Europe is expected to witness strong growth in adopting industrial 3D printing technology across various industry verticals. This growth is mainly attributed to high capital investments from regional players and strong government initiatives to adopt advanced manufacturing technologies. The majority of industrial 3D printing companies are based in Western Europe, driving the adoption and applications in the region.


Asia Pacific is expected to exhibit the highest CAGR during the forecast period. The rapid adoption of additive manufacturing in the region is mainly due to upgrades and developments of advanced manufacturing techniques in the region coupled with high initial developments in aerospace, defense, and healthcare industries. The area is also a modern development center for the automotive and health industries. The regional demand for 3D printers is also growing as a result of a stronghold in the development of consumer electronics coupled with quick urbanization.


Whereas, the Middle East and Latin America are expected to showcase strong growth during the forecast period mainly attributed to increased demand from healthcare and automotive industries.


KEY INDUSTRY PLAYERS


Key Player to Focus on Organic and Inorganic Growth Strategies


The key market players are investing heavily in the research and development of innovative industrial 3d printing solutions. Enhancements to the product portfolios are helping key players to maintain their competitive edge. These companies are also engaging in strategic partnerships, acquisitions, and collaborations for expanding their businesses and distribution networks to maintain their market lead.


September 2020 - Stratasys Ltd., one of the leading 3D printing solution providers partnered with Team Penske, an American motorsport organization. Under this partnership, Stratasys aims to provide Team Penske with FDM 3D printers for tooling, fixtures, and to build end-user parts of the motorcars.


May 2020 - MakerBot Industries, one of the prominent players in the 3D printing industry and a subsidiary of Stratasys Ltd. launched METHOD Carbon Fiber Editions. METHOD Carbon Fiber Editions are printing materials that enable engineers to print the stronger and more accurate parts for manufacturing tools, fixtures and jigs, and other metal replacement parts in end use production.


April 2020 - Stratasys Ltd. collaborated with Origin Laboratories, Inc. a 3D printed parts manufacturing company based in California. Under this partnership, Stratasys will promote and market Origin 3D printed nasopharyngeal (NP) swabs to healthcare providers and testing labs in the United States in response to the increasing demand for testing kits during the spread of COVID-19.  


LIST OF KEY COMPANIES PROFILED :



  • Stratasys, Ltd. (Rehovot, Israel)

  • 3D Systems, Inc. (South Carolina, United States)

  • Arcam EBM (GE Additive) (Cincinnati, Ohio)

  • EOS GmbH (Krailling, Germany)

  • EnvisionTEC Inc. (Gladbeck, Germany)

  • HP Development Company, L.P (California, United States)

  • Autodesk Inc. (California, United States)

  • Höganäs AB (Höganäs, Sweden)

  • Materialise NV (Leuven, Belgium)

  • SLM Solutions Group AG (Lübeck, Germany)

  • voxeljet AG (Augsburg, Germany)

  • Made In Space, Inc. (Florida, United States)

  • Canon Inc. (Tokyo, Japan)

  • Ponoko Inc. (Wellington, New Zealand)

  • Renishaw plc (Wotton-under-Edge, United Kingdom)

  • Koninklijke DSM N.V. (Heerlen, Netherlands)

  • Ultimaker B.V. (Geldermalsen, Netherlands)


KEY INDUSTRY DEVELOPMENTS:



  • October 2019 - 3D Systems, Inc., a leading pioneer in the 3D printing industry collaborated with Antleron NV to accelerate breakthroughs in the biomedical industry. Under this collaboration, leadership and technologies from both companies will be used to develop regenerative and personalized patient care solutions.

  • November 2019 - EnvisionTEC, a leading manufacturer of 3D printing material and solutions, launched Envision One cDLM, one of the fastest 3D printers in the European market. The Envision One cDLM provides an efficient speed of 75 mm per hour for part design with high accuracy.


REPORT COVERAGE


An Infographic Representation of 3D Printing Market

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The market report highlights leading regions across the world to offer a better understanding of the user. Furthermore, the report provides insights into the latest industry trends and analyzes technologies that are being deployed at a rapid pace at the global level. It further highlights some of the growth-stimulating factors and restraints, helping the reader to gain in-depth knowledge about the market.


REPORT SCOPE & SEGMENTATION














































 ATTRIBUTE



  DETAILS



Study Period



  2017-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2017-2018



Unit



  Value (USD billion)



Segmentation



By Component



  • Hardware

  • Software

  • Services



By Technology



  • FDM

  • SLS

  • SLA

  • DMLS/SLM

  • Polyjet

  • Multi Jet Fusion

  • DLP

  • Binder Jetting

  • EBM

  • CLIP/CDLP

  • SDL

  • LOM



By Application



  • Prototyping

  • Production

  • Proof of Concept

  • Others



By End-User



  • Automotive

  • Aerospace and Defense

  • Healthcare

  • Architecture and Construction

  • Consumer Products

  • Education

  • Others



By Region



  • North America (The U.S., and Canada)

  • Europe (The U.K., Germany, France, Italy, Spain, and Rest of Europe)

  • Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)

  • Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)

  • Latin America (Mexico, Brazil, Argentina, and Rest of Latin America)



Frequently Asked Questions

The market is projected to reach USD 54.96 billion by 2027.

In 2019, the market stood at USD 10.41 billion.

The hardware segment likely to lead in the market

Increased adoption of 3D printing among industry verticals will drive market growth.

Stratasys, Ltd., 3D Systems, Inc., Arcam EBM (GE Additive), EOS GmbH, EnvisionTEC Inc., HP Development Company, L.P, Autodesk Inc. among others, are the top players in the market.

The North American region is expected to hold the highest market share.

Asia Pacific is expected to grow with the highest CAGR.

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