WESTFORD, Mass., July 15, 2024 /PRNewswire/ -- According to
SkyQuest, the global 3D Printing Market size was valued at
USD 16.64 Billion in 2022 and is
poised to grow from USD 20.65 Billion
in 2023 to USD 110.29 Billion by
2031, at a CAGR of 23.3% during the forecast period
(2024-2031).
3D printing refers to the use of printing technology to create
3-dimensional products/objects. The growing use of additive
manufacturing around the world and advancements in 3D printing
technology are projected to bolster 3D printing market development
in the future. The market is still relatively new and investing in
almost any segment would pay off big time for 3D printing
providers. The global 3D printing market is segmented into
offerings, technology, process, application, material, vertical,
and region.
Download a detailed overview:
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3D Printing Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 20.65
billion
|
Estimated Value by
2031
|
$ 110.29
billion
|
Growth Rate
|
Poised to grow at a
CAGR of 23.3%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Billion)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Offerings, Technology,
Process, Application, Material and Vertical
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Use of sustainable 3D
printing materials and filaments
|
Key Market
Drivers
|
Use of advanced
manufacturing practices and advancements in 3D printing
technologies
|
Segments covered in 3D Printing Market are as
follows:
- Offering
- Hardware, Software, and Services
- Technology
- Fused Deposition Modelling (FDM), Stereolithography (SLA),
Selective Laser, Sintering (SLS), Poly-jet Printing/Multi-jet
Printing (MJP), Electron Beam Melting (EBM), Digital Light
Processing (DLP), Direct Metal Laser Sintering (DMLS), Other
- Process
- Powder Bed Fusion, Vat Photopolymerization, Binder Jetting,
Material Extrusion, Material Jetting, Other
- Application
- Prototyping, Tooling, Functional Part Manufacturing
- Material
- Vertical
- Automotive, Aerospace & Defense, Healthcare, Architecture
& Construction, Consumer Products, Education, Industrial,
Energy, Printed Electronics, Others
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/3d-printing-market
Development of New 3D printing Hardware Components to Be
Prime Focus of Companies
3D printing companies should target the development of novel 3D
printers and other hardware components that can make 3D printing
more affordable. Multiple unique hardware components are required
to make 3D printing possible, and this is why companies are
targeting the development of these components to maximize their
business scope. Making affordable 3D printers and 3D printing
filaments will be the prime focus of all 3D printing market players
in the future.
The need for advanced software to 3D print complex components is
also increasing at a robust pace. 3D printing providers should also
focus on the development of new software for 3D printing to
maximize their business scope. New companies can specifically
target this segment as software development requires less capital
compared to hardware development.
Simple Operation of Stereolithography Technology Allows It
Dominate the Market
Stereolithography has been used in printing for a long time and
it is still a preferred technology owing to its simple operating
mechanism. The technology creates 3D printed objects by layering
different layers of material on top of one another. Photochemical
processes are used in stereolithography to enable 3D printing.
Using this technology allows 3D printing companies to get a
smoother finish and acquire high precision in their products.
However, advancements in 3D printing technologies could dethrone
stereolithography technology's dominance in the future.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/3d-printing-market
Prototyping to be a Popular Application for 3D printing Owing
to its High Accuracy of Replicating the Original Intended
Model
3D printing companies should focus on development of solutions
that help perfect prototyping for different industry verticals.
Lower production times and costs as compared to other prototyping
techniques and practices. Easy manufacturing of complex parts and
components. Owing to these key benefits 3D printing is mostly used
for prototyping applications. However, the demand for 3D printing
for functional part manufacturing is slated to increase at a
notable pace over the coming years.
Growing use of advanced manufacturing practices and advancements
in 3D printing technology are setting the tone for market
expansion. New companies have a great chance of winning in this
market by targeting the software and prototyping segments in the
future.
Related Report:
Industrial 3D Printing Market
3D Printing Material Market
Medical 3D Printing Market
Digital Twin Market
3D Printing Construction Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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