Industrial 3D Printing Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Component (Hardware, Software and Services); Application (Prototyping, Manufacturing and High Voltage); Technology (Stereolithography (SLA), Fused Modelling Deposition (FDM), Selective Laser Sintering (SLS), Direct Metal Sintering (DMLS), Polyjet Printing, Inkjet Printing); End User (Aerospace, Automotive, Defense, Healthcare, Power & Energy); and Region/Country
Detailed Analysis of COVID-19 Impact on the Industrial 3D Printing Market
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.
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|Research Process of the Industrial 3D Printing Market
|Research Methodology of the Industrial 3D Printing Market
|IMPACT OF COVID-19 ON THE INDUSTRIAL 3D PRINTING MARKET
|INDUSTRIAL 3D PRINTING MARKET REVENUE (USD MN), 2020-2028F
|Fused modelling Deposition (FDM)
|Selective laser sintering (SLS)
|Direct Metal Sintering (DMLS)
|Power & Energy
|Rest of North America
|Rest of Europe
|Rest of Asia-Pacific
|Rest of World
|INDUSTRIAL 3D PRINTING MARKET OPPORTUNITIES
|INDUSTRIAL 3D PRINTING MARKET TRENDS
|Demand Side Analysis
|Supply Side Analysis
|VALUE CHAIN ANALYSIS
|Porter’s Five Forces Analysis
|3D Systems Corp
|Proto Labs Inc
|Desktop Metal Inc
|Nano Dimension Ltd – ADR
|Markforged Holding Corp
|Shapeways Holdings Inc
Research Methodology for the Industrial 3D Printing Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global industrial 3D printing market were the three major steps undertaken to create and analyze the adoption of the industrial 3D printing market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global industrial 3D printing market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the industrial 3D printing market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the industrial 3D printing market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as a component, application, technology and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the industrial 3D printing market. Further, we conducted factor analysis using dependent and independent variables such as innovation in technology and rising industrial demands of industrial 3D printing. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the industrial 3D printing market across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global industrial 3D printing market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of industrial 3D printing across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global industrial 3d printing market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global industrial 3D printing market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, application, technology and end user in the global industrial 3d printing market.
The main objective of the Global Industrial 3D Printing Market Study
The current & future market trends of the global industrial 3D printing market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the industrial 3D printing market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the component, application, technology and end user.
- Define and analysis of the regulatory framework for the industrial 3d printing
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the industrial 3D printing market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the industrial 3d printing market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry