3D Printer Market to Increase by USD 25.10 billion during 2022-2027: Technavio

03 November 2023: 3D Printer market size is expected to grow by USD 25.10 billion between 2022 and 2027. However, growth momentum of the market will accelerate at a CAGR of 23.49% during the forecast period. The market is segmented by Product (Industrial 3D printer and Desktop 3D printer), Technology (Fused deposition modeling, Selective laser sintering, Stereolithography, and Others) and Geography (North America, Europe, APAC, South America and Middle East and Africa). The market is driven by the increase in consumer interest in 3D customized products. Consumers are exhibiting high interest in customized 3D products.

They are either ordering the product from the companies that provide customized products or are purchasing a desktop 3D printer to design and develop in-house 3D printed products. Besides, 3D printers are becoming more affordable, and the increasing disposable incomes of consumers are encouraging them to invest in 3D printers to develop customized products. Industrial professionals are also actively investing in 3D printers to develop customized products and reach the expectations of customers and increase profits.

Key Highlights:

– Report recognizes the following as some of key players in the 3D printer market: 3D Systems Corp., Autodesk Inc., Desktop Metal Inc., EOS GmbH, Formlabs Inc, General Electric Co., HP Inc., JINHUA WANHAO SPARE PARTS CO. LTD., Materialise NV, N3 Technologies Inc., Nano Dimension Ltd., Organovo Holdings Inc., Proto Labs Inc., SLM Solutions Group AG, Stratasys Ltd., Ultimaker BV, voxeljet AG, XYZPRINTING Inc., YFC BonEagle ELECTRIC CO. LTD. and Zhejiang Flashforge 3D Technology Co. Ltd.

• 3D Printer Market is fragmented in nature.
• Market to observe 22.33% YOY growth in 2023.
• Increase in 3D printing outsourcing is a key trend in the market.
• Many companies are outsourcing 3D printing projects for both prototypes and production runs to cut down costs.
• The lack of equipment and the high cost of owning 3D printers are other major factors leading to a significant rise in the demand for 3D printing outsourcing services.
  Moreover, it requires the right knowledge and experience to operate the machine and to set up right mix of materials.
• High cost of training the workforce is a major factor hindering market growth.
  Providing technical training to the workforce on additive manufacturing is high as 3D printers and their materials come at a high cost.
• Several companies are investing in educating students on additive manufacturing to build the future workforce for the global 3D printer market.
• Many vendors in the market are also providing technical training for operators, developers, and designers on additive manufacturing.
• 3D printing materials market size is estimated to grow at a CAGR of 22.51% between 2022 and 2027.
• 3D Printing Market in Education Sector size is estimated to grow at a CAGR of 12.12% between 2022 and 2027.

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