Market Research Report
COVID-19 Impact on 3D Printing Market by Offering (Service, Printer, Material, and Software) - Global Forecast to 2025
|Published by||MarketsandMarkets||Product code||953115|
|Published||Content info||56 Pages
Delivery time: 1-2 business days
|COVID-19 Impact on 3D Printing Market by Offering (Service, Printer, Material, and Software) - Global Forecast to 2025|
|Published: July 10, 2020||Content info: 56 Pages||
"3D printing market is estimated to grow at CAGR of 18% during 2019-2025, which is lower than pre-COVID evaluations"
Post-COVID-19, the global 3D printing market size is estimated to grow from USD 11.4 billion in 2020 to USD 30.2 billion by 2025; it is expected to grow at a CAGR of 18% during 2019-2025. The market in 2020 is estimated to see a drop of more than 19% in comparison to the pre-COVID 2020 estimates. A key reason for this is that although the operation of 3D printers is expected to be high in 2020, most of the activities for which the printers/services are being employed are being done free of cost during this time of need.
The 3D printing market will continue to generate revenue in 2020 although not as much as initially estimated before the pandemic. The losses of the first half of the year are expected to be compensated to a certain extent by the revenue generated in the second half of the year. Growth in the following years is expected as a result of backlog orders across all end-user industries as well as sales from new customers who previously had not thought of employing 3D printers until the pandemic had portrayed the benefits.
The revenue generated from the sale of materials for 3D printers would be following a similar trend as that of printers during the forecast period. Large volumes of printing may be taking place in the first quarter of 2020, however, in most of the cases, the materials have been provided free of cost. There will be a focus on the use of emerging materials for printing during the forecast period, however, the benefits of the same will start to emerge after the forecast period.
The overall 3D printing market will witness a contraction in potential revenue that could be generated. For example, the drop in anticipated revenue for 2025 is expected to be USD 6.3, however, this is far better than what many other industries would be witnessing now as a result of the various implications of COVID-19. The encouraging fact for the 3D printing industry, however, is that the return to double-digit growth rates is expected to take place as early as next year, which is especially attractive for new players planning on entering the market in the next few years.
Breakdown of the profiles of primary participants for the report has been given below:
This report covers the impact of COVID-19 on the 3D printing market based on offering, i.e services, printers, software, and materials. It also discusses the supply chain, drivers, and challenges of the market.