BCC Research Study Projects a 10.2% CAGR, with Market Growth from $18.0 Billion in 2024 to $29.4 Billion by 2029, Driven by Advancements in Additive Manufacturing Across Various Industries.
BOSTON, Oct. 10, 2024 /PRNewswire/ -- The global 3D printing market is rapidly expanding, driven by advancements in technology and increasing applications across various industries. It encompasses diverse sectors including aerospace, healthcare, and manufacturing, with significant growth potential and innovation opportunities worldwide.
https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg [https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg]
"According to the latest BCC research study, the demand for Global Markets for 3D Printing [https://www.bccresearch.com/market-research/manufacturing/3d-printing-market-report.html?utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire] is expected to grow from $18.0 billion in 2024 and is projected to reach $29.4 billion by the end of 2029, at a compound annual growth rate (CAGR) of 10.2% from 2024 through 2029."
This report offers a comprehensive overview of the global 3D printing market, covering key trends and data from 2023 to 2029. It reviews market segments by product, technology, application, printer type, and industry, and breaks down regional markets including North America, Europe, Asia-Pacific, and the Rest of the World. The report also highlights emerging technologies and key market players, providing insights into the industry's growth and competitive landscape.
Some Interesting & surprising facts:
Medical and Dental Segment: The medical and dental 3D printing market is expected to grow at 14.7% annually from 2024 to 2029, driven by rising demand for prosthetics. The World Health Organization notes that only 1 in 10 people needing prosthetics have access, highlighting a large, underserved market. Advances in 3D printing technology are improving the design and customization of prosthetics, leading to better and more affordable solutions.
Commercial/Industrial Printers: These printers have a significant market share due to their high price and substantial revenue generation. Despite being sold in lower volumes compared to consumer models, their average price exceeds $100,000, with some models costing up to $4 million. Their high cost is offset by their advanced capabilities, crucial for industries like aerospace, automotive, and healthcare.
Factors contributing to this growth include:
1. Limitation of traditional manufacturing and the potential of additive
manufacturing.: Traditional manufacturing often has limitations like high
costs for complex designs and long production times. Additive
manufacturing, or 3D printing, overcomes these issues by allowing for
more complex and customized designs at a lower cost and faster speed.
This technology can produce parts layer by layer, reducing waste and
enabling rapid prototyping and production.
2. Increasing Government Initiatives across the 3D Printing Sector.:
Governments are increasingly investing in and supporting the 3D printing
sector. These initiatives aim to boost innovation, enhance manufacturing
capabilities, and promote the use of 3D printing in various industries.
This support helps drive technological advancements and growth in the
market.
3. Emergence of 3D Printed Electronics.: 3D printed electronics are a new
technology where electronic components are created using 3D printing.
This allows for more flexible and customized designs in electronics, like
circuits and sensors, enabling innovations in areas such as wearable tech
and smart devices.
4. Use of 3D Printing in Construction of Houses and in Underwater Printing.:
3D printing is being used to build houses by creating large-scale
structures layer by layer, which can reduce construction costs and time.
In underwater printing, 3D technology helps create and repair structures
in challenging environments like the ocean, allowing for more efficient
and precise underwater construction.
Request a Sample Copy of the Global Markets for 3D Printing [https://www.bccresearch.com/market-research/manufacturing/3d-printing-market-report.html?ro=yes&utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire]
Report Synopsis
Report Metrics Details Base year considered 2023 Forecast Period considered 2024-2029 Base year market size $17.6 billion Market Size Forecast $29.4 billion Growth Rate CAGR of 10.4% for the forecast period of 2024-2029 Segment Covered Product Segments, Technology, Applications, Printer Types, End-Use Industry, and Region Regions covered North America, Europe, Asia-Pacific, and Rest of the World (RoW) Countries covered U.S., Canada, Mexico, Germany, U.K., France, Mainland China, Japan, South Korea, Australia, and India Key Market Drivers -- Limitation of traditional manufacturing and the potential of additive manufacturing. -- Increasing Government Initiatives across the 3D Printing Sector. -- Emergence of 3D Printed Electronics. -- Use of 3D Printing in Construction of Houses and in Underwater Printing.
Market Segmentation
The Global Markets for 3D Printing can be categorized into various segments:
-- By Product SegmentsThe market is divided into two main product segments:
Software and Services, and Hardware and Consumables. The Hardware
segment includes physical products like 3D Printers and the materials
used to create objects, such as Metals (e.g., aluminum, steel), Polymers
(e.g., plastics), Ceramics (e.g., glass, clay), and other specialized
materials. These products work together to enable the creation of
three-dimensional objects through additive manufacturing, also known as
3D printing.
-- By TechnologyThe 7 main 3D printing technologies are: Material Extrusion
(melting plastic), Powder Bed Fusion (fusing powdered material with
lasers/heat), Vat Polymerization (solidifying liquid resin with light),
Material Jetting (spraying material droplets), Binder Jetting (using
liquid binder on powdered material), Directed Energy Deposition (shaping
metal with focused beams), and Other (emerging technologies).
-- By Printer Type3D printers come in two main types: Commercial/Industrial
printers, which are large-scale, high-end machines used by businesses
and professionals for complex projects, and Desktop/Consumer printers,
which are smaller, more affordable, and designed for personal use,
hobbyists, and small businesses, making 3D printing accessible to a
wider audience.
-- By End-use Industry3D printing is used across various industries,
including Medical and Dental for creating custom implants and models,
Aerospace & Defense for producing complex components, Automotive &
Transportation for designing car parts, Electronics & Consumer Goods for
creating prototypes and products, and Others such as fashion,
architecture, and education, showcasing its versatility and wide range
of applications.
-- By Application3D printing is used for three main applications:
Prototyping (creating initial models for testing and refinement),
Tooling (producing molds and tools for manufacturing), and Final Product
Manufacturing (creating end-use products directly, such as aircraft
parts, medical implants, or consumer goods), enabling efficient and
cost-effective production processes.
-- By RegionThe 3D printing market is divided into regions: North America
(US, Canada, Mexico), Europe (UK, France, Germany, and others),
Asia-Pacific (China, Japan, Australia, South Korea, India, and others),
and the Rest of the World (South America, Middle East, and Africa),
covering the global landscape and highlighting key countries driving
growth and adoption in this technology.
This report on global markets for 3d printing provides comprehensive insights and analysis, addressing the following key questions:
1. What is the projected market size and growth rate of the global 3D
printing market?The global market for 3D printing was valued at $17.6
billion in 2023 grow from $18.0 billion in 2024 and will reach $29.4
billion by 2029, growing at a CAGR of 10.2% from 2024 to 2029.
2. What are the key factors driving the growth of the global 3D printing
market?The key factors driving the global 3D printing market growth
include the limitation of traditional manufacturing and the potential of
additive manufacturing, the increasing use of 3D printing across the
healthcare sector, and the rising adoption of 3D printing across the
aerospace sector.
3. By end-use industries, which segment will dominate the market by the end
of 2029?By the end of 2029, the aerospace and defense segment will
continue to dominate global 3D printing owing to the increased adoption
of 3D printing technology across various applications. Also, the higher
market share is due to the early adoption of 3D printing technology by
aerospace and defense for producing multiple parts such as aircraft and
spacecraft components, propulsion systems, and rocket engine parts.
4. Which region has the highest market share in the global 3D printing
market?North America holds the highest market share in the global 3D
printing market. The prominent market share is due to the presence of
leading international companies in the 3D printing domain that generate
predominant revenues from this region, the growing adoption of 3D
printing technology across various industries, and the early adoption of
3D printing technology. The U.S. is the significant market, driving
higher market share across the North American region.
5. Who are the key companies/players in the global 3D printing market?The
key companies/players in the market include 3D Systems Corp., EOS GmbH,
Stratasys Ltd., Materialise NV, and Desktop Metal, Inc., among others.
Some of the Key Market Players Are:
-- 3D SYSTEMS INC.
-- AUTODESK INC.
-- CARBON INC.
-- DESKTOP METAL INC.
-- EOS GMBH
-- FABRX LTD.
-- FORMLABS
-- GE AEROSPACE
-- HP INC.
-- MARKFORGED HOLDING CORP.
-- MATERIALISE
-- NANO DIMENSION
-- NIKON SLM SOLUTIONS AG
-- PRODWAYS GROUP
-- PROTO LABS INC.
-- REGENHU
-- RENISHAW PLC.
-- STRATASYS LTD.
-- ULTIMAKER
-- VOXELJET AG
Browse for related reports:
Biodegradable Polymers: Global Markets and Technologies [https://www.bccresearch.com/market-research/plastics/biodegradable-polymers-global-markets-and-technologies.html?utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire].: focuses on the market and technology for plastics that break down naturally over time. It covers the global demand and advancements in these eco-friendly materials.
Global 3D Printing High-Performance Plastics Market [https://www.bccresearch.com/market-research/advanced-materials/3d-printing-high-performance-plastic-market.html?utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire].: looks at the market for advanced plastics used in 3D printing that offer superior strength and durability. It covers trends and growth in the use of these specialized materials worldwide.
Directly Purchase a copy of the report [https://www.bccresearch.com/market-research/manufacturing/3d-printing-market-report.html?utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire] with BCC Research.
For further information or to make a purchase, please get in touch with info@bccresearch.com [mailto:info@bccresearch.com].
About BCC Research
BCC Research provides objective, unbiased measurement and assessment of market opportunities with detailed market research reports. Our experienced industry analysts' goal is to help you make informed business decisions, free of noise and hype.
Contact Us
Corporate HQ: 50 Milk St. Ste 16, Boston, MA 02109, USA
Email: info@bccresearch.com [mailto:info@bccresearch.com],
Phone: +1 781-489-7301
For media inquiries, email press@bccresearch.com or visit our media page [https://www.bccresearch.com/media?utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire] for access to our market research library.
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC [https://www.bccresearch.com/?utm_source=PRMFG074C&utm_medium=referral&utm_campaign=prnewswire] as the source and publisher.
Logo - https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg [https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg]
View original content:https://www.prnewswire.co.uk/news-releases/the-3d-printing-market-explosion-insights-into-global-opportunities-and-trends-302273217.html [https://www.prnewswire.co.uk/news-releases/the-3d-printing-market-explosion-insights-into-global-opportunities-and-trends-302273217.html]
Photo: https://mma.prnewswire.com/media/2183242/BCC_Research_Logo.jpg BCC Research LLC
