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3D Printing Market to Grow Exponentially Due to Growing Investments across Several Industries

June 02, 2023 | Information & Technology

The global 3D printing market size is estimated to display strong growth by reaching USD 150.20 billion by 2032. Fortune Business Insights™ in its report titled “3D Printing Market Size, Share & COVID-19 Impact Analysis, 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), and Regional Forecast, 2024-2032” observes that the market size in 2023 stood at USD 22.39 billion and is expected to reach USD 27.52 billion by 2024 end. The market is expected to witness a strong CAGR of 23.6% during 2024-2032. The massive government funding along with the growing emergence to create new technologies for the industries is expected to boost the demand for the product.


APES Collaborated with Neotech for the Development and Manufacturing Capabilities of Additive Manufacturing


To expand 3D Printed electronics in North America, APES joined hands with Neotech AMT. The aim of this partnership is to enable both firms to share technologies and resources to improve the productivity of the business through the development and manufacturing capabilities of additive manufacturing.


Companies Focused on Developing Advanced Technologies to Improve Operation During COVID-19


Due to the emergence of the COVID-19 outbreak, halts on production activities across the globe and immediate supply chain disruption were forced to temporarily close their doors, which has slowed down the expansion of the global 3D printing market growth. In addition, it has forced several players to cut back on expenses during this period, which caused the demand for this market to stagnant. But due to technological development, end users are moving towards digitalization, which helps increase business prospects.


Rapidly Increasing Digitization To Boost the Product Demand


With an aim to create precision prototypes, 3D printing has shown immense traction for manufacturing various hardware parts. Some other factors that have bolstered the demand for the product are the increasing adoption of advanced technologies and rapidly increasing digitization such as robotics, machine learning, industry 4.0, and smart factories. Owing to higher accuracy, the technology will play a precious role in minimizing waste material, thereby boosting 3D printing in the healthcare market share.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/3d-printing-market-101902


Key Players Invest In Developing Advanced Technology to Gain Traction


With the growing needs of industries, prominent players in the market are focusing on offering advanced and innovative solutions. HP, In., General Electric Company (GE Additive), and Autodesk Inc. are market players. Also, to grow across every industry application, the key players are keen on offering a vast range of 3-dimensional materials to set their benchmark in the marketplace.


Key Industry Development



  • December 2022: A 3D printing provider, FITTLE teamed up with Formlabs with an aim to facilitate access to digital manufacturing tools with affordability. This collaboration brought Formlabs 3D printers even more accessible to users across North America.


List of Key Companies Profiled in the Market Report:



  • 3D Systems Corporation (U.S.)

  • The ExOne Company (Germany)

  • voxeljet AG (Germany)

  • Materialise NV (Belgium)

  • Redwire Corporation (U.S.)

  • Envisiontec, Inc. (Germany)

  • Stratasys Ltd. (U.S.)

  • HP, Inc. (U.S.)

  • General Electric Company (GE Additive) (U.S.)

  • Autodesk Inc. (U.S.)


Further Report Findings



  • The market in North America stood at USD 6.83 billion in 2022 and captures the maximum part of the global 3D printing market share due to rising expenditure on advanced manufacturing technologies.



  • Europe is also expected to have the highest CAGR due to the growing requirement for high-speed, reliable, and inexpensive prototypes for manufacturing purposes.


Table of Segmentation 






























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 24.9% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Component, Technology, Application, End User, and Region



By Component




  • Hardware

  • Software

  • Services



By Technology




  • Fused Deposition Modeling (FDM)

  • Selective Laser Sintering (SLS)

  • Stereolithography (SLA)

  • Direct Metal Laser Sintering (DMLS)/ Selective Laser Melting (SLM)

  • Polyjet

  • Multi Jet Fusion

  • Digital Light Processing (DLP)

  • Binder Jetting

  • Electron Beam Melting (EBM)

  • Continuous Liquid Interface Production (CLIP)/ Continuous Digital Light Projection (CDLP)

  • Selective Deposition Lamination (SDL)

  • Laminated Object Manufacturing (LOM)



By Application




  • Prototyping

  • Production

  • Proof of Concept

  • Others (R&D, Tooling, and Others)



By End User




  • Automotive

  • Aerospace and Defense

  • Healthcare

  • Architecture and Construction

  • Consumer Products

  • Education

  • Others (Food, Fashion, and Others)



By Region




  • North America (By Component, By Technology, By Application, By End User, and By Country)

    • U.S. (By Application)

    • Canada (By Application)



  • Europe (By Component, By Technology, By Application, By End User, and By Country)

    • U.K. (By Application)

    • Germany (By Application)

    • France (By Application)

    • Italy (By Application)

    • Spain (By Application)

    • Rest of Europe





  • Asia Pacific (By Component, By Technology, By Application, By End User, and By Country)


    • China (By Application)

    • Japan (By Application)

    • India (By Application)

    • Southeast Asia (By Application)






    • Rest of Asia Pacific



  • Middle East & Africa (By Component, By Technology, By Application, By End User, and By Country)

    • GCC (By Application)

    • South Africa (By Application)

    • Rest of the Middle East & Africa



  • Latin America (By Component, By Technology, By Application, By End User, and By Country)

    • Brazil (By Application)

    • Mexico (By Application)

    • Argentina (By Application)

    • Rest of Latin America




3D Printing Market
  • PDF
  • 2023
  • 2019-2022
  • 150

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