Industrial 3D Printing Market: Current Analysis and Forecast (2022-2028)

Global Industrial 3D Printing Market is expected to grow at a significant rate of around 20% during the forecast period. Industrial 3D Printing-also referred to as additive manufacturing-Industrial 3D printing is an advanced manufacturing technology for the creation of a physical product from a computer-aided design (CAD) digital file. The popularity of industrial 3D printing methods, innovation in technology and rising industrial demands are all likely to contribute to the industrial 3D printing market. Manufacturing companies will invest more because it reduces labor costs and can produce goods locally, however, it requires heavy investment to use the 3D printing technology. The market is diversified with a large number of global and regional market players. The market players are following both organic and inorganic growth strategies to sustain the competitive edge. For instance, in November 2022, 3D systems announced that the company has partnered with WeMatter for expanding its 3D printing metal and polymer materials. Similarly, in November 2022, the Stratasys ltd made strategic investment in axial3D with a purpose to make patient-specific 3D printing solutions for hospitals and medical device manufacturers more accessible so it becomes a mainstream healthcare solution.

3D Systems Corp, Xometry Inc, Stratasys Ltd, Proto Labs Inc, Velo3D Inc, Desktop Metal Inc, Materialise NV, Nano Dimension Ltd - ADR, Markforged Holding Corp, Shapeways Holdings Inc, are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst component, the hardware category is expected to hold significant market share during the forecast period"

Based on the component, the market is segmented into Hardware and software. The hardware segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The hardware is boosted by the rising global popularity of rising industrial demands and innovation in technology. The expansion of the hardware market is mostly credited to a number of factors, including quick industrialisation, rising consumer electronics penetration, improving civil infrastructure, quick urbanisation, and reduced labour costs.

"Amongst application, the prototyping category is expected to witness considerable CAGR during the forecast period"

Based on application, the market is divided into prototyping, manufacturing and high voltage. The prototyping segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. Manufacturers build trustworthy final goods and attain improved precision through prototyping and this is attributed to the extensive adoption of the prototyping process across several industry verticals.

"Amongst technology, the stereolithography (SLA) category is expected to witness considerable CAGR during the forecast period"

Based on the technology, the market is fragmented into stereolithography (SLA), fused modelling deposition (FDM), selective laser sintering (SLS), direct metal sintering (DMLS), polyjet printing, inkjet printing. The stereolithography (SLA) segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The benefits and simplicity of operation associated with stereolithography (SLA) technology are boosting its development in the manufacturing sector.

"Amongst end-user, the automotive category is expected to witness considerable CAGR during the forecast period"

Based on the end user, the market is fragmented into aerospace, automotive, defence, healthcare, power & energy. The automotive segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. The automotive sector has been using 3D printing technology for years to quickly build small custom goods and prototype machinery. The method is frequently utilized to create lightweight OEM and automotive components.

"North America to witness significant growth during the forecast period"

For a better understanding of the market adoption of industrial 3D printing, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, U.K, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the industrial 3D printing industry due to various factors such as efficient use of materials, minimized human errors, customization of product and reduced production time and cost.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional and country-level analysis of the industry.

Customization Options:

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