Northbrook, IL 60062 -- (SBWIRE) -- 01/19/2024 -- Recent years have seen a tremendous rise in the global 3D printing market, which has revolutionized traditional manufacturing methods and redefined the design and production of items. With a thorough review of the industry's size, share, statistics, major players, and projected growth patterns, this article explores the most recent findings from the Global 3D Printing Market Report.
3D Printing Industry Size and Market Dynamics:
The 3D printing industry has grown significantly due to growing demand for sophisticated and personalized items, increased usage across multiple industries, and technological breakthroughs. According to the MarketsandMarkets™ latest market research report the global 3D printing market size in terms of revenue was estimated to be worth USD 15.0 billion in 2023 and is poised to reach USD 34.5 billion by 2028, growing at a CAGR of 18.1% from 2023 to 2028.
The increased demand for 3D printing can be ascribed to its adaptability in several industries, including consumer goods, healthcare, automotive, and aerospace. Because of its capacity to produce complex designs, shorten time-to-market, and cut waste, 3D printing is becoming increasingly important in the industrial sector.
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3D Printing Market Share and Top Companies:
Asia Pacific's 3D printing market is anticipated to grow at the fastest rate over the projected timeframe.
Over the course of the projection period, the Asia Pacific region is anticipated to experience the most increase in 3D printing solutions. Prototyping and advanced manufacturing with 3D printing have seen a major shift in the region. The market in this region has grown more quickly thanks to government initiatives, strong R&D skills, and foreign direct investment (FDI). China's technological breakthroughs are yet another significant market driver. China is a prominent global producer of automobiles and consumer electronics.
The global 3D printing industry is dominated by a few major companies, which adds to its competitive environment.
Market leaders include industry giants such as Stratasys (US), 3D Systems (US), Materialise (Belgium), EOS GmbH (Germany), GE (US), Voxeljet (Germany), HP (US), SLM Solutions (Germany), CleanGreen3D Limited (Ireland), Protolabs (US), Optomec (US), Groupe Gorgé (France), Ultimaker (The Netherlands), Renishaw (UK), Beijing Tiertime Technology (China), XYZprinting (Taiwan), Höganäs (Sweden), Covestro (Royal DSM) (Germany), Desktop Metal (US), TRUMPF (Germany), Nano Dimension (Israel), Formlabs (US), Markforged (US), and Carbon (US). These 3D Printing companies are at the forefront of innovation, continually introducing cutting-edge technologies and expanding their product portfolios.
The 3D printing market share of each key company is highlighted in the study along with an overview of their investments, partnerships, and strategic plans. Partnerships between 3D printing companies and traditional manufacturers are growing more common as the sector develops, encouraging a synergistic approach to additive manufacturing integration.
3D Printing Market Statistics and Growth Projections:
The Global 3D Printing Market Report offers thorough statistical analysis along with insightful information about product categories, regional dynamics, and market trends. Based on customer preferences, industry trends, and technology developments, stakeholders can make well-informed decisions with the help of the data-driven approach.
Development forecasts show that the 3D printing industry will continue to grow. The prospect is favorable due to a number of factors, including more R&D expenditures, developing applications in bioprinting in healthcare and lightweight components in aircraft, and the increasing acceptance of 3D printing in mainstream production.