Global 3D Printer Market Report (2021 to 2030 ) - COVID-19 Growth and Change - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 9, 2021--
The “3D Printer Global Market Report 2021: COVID-19 Growth and Change to 2030” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global 3d printer manufacturing market.
This report focuses on 3D printer manufacturing market which is experiencing strong growth. The report gives a guide to the 3d printer manufacturing market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global 3D printer market is expected grow from $8.62 billion in 2020 to $11.1 billion in 2021 at a compound annual growth rate (CAGR) of 28.8%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $25.26 billion in 2025 at a CAGR of 23%.
- GE Additive
- SLM Solutions
- Arcam AB
- Hoganas AB
- Groupe Gorge
- Renishaw PLC.
- Markforged Inc.
- Made In Space
- Proto Labs Inc.
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The 3D printer manufacturing market consists of sales of 3D printers that are used in automotive, healthcare, industrial, consumer electronics, aerospace and defense industries. 3D printing is the method of creating three-dimensional objects by transferring consecutive material layers through a 3D printer.
The 3D printer manufacturing market covered in this report is segmented by printer type into desktop 3D printer, industrial 3D printer. It is also segmented by technology into stereo lithograph (SLA), fused deposition modelling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing (MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), direct light projection (DLP), others and by end-use industry into automotive, aerospace & defense, healthcare, food, construction & architecture, others.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost associated with 3D printing hampers the growth of the 3D printer manufacturing market. Various factors contribute to the higher costs of 3D printing tools. To name a few, the energy that 3D printing requires to manufacture objects is massively expensive and the energy required by some of the 3D printing processes uses up to 50-100 times more electricity than injection molding machines. Furthermore, the software needed to run the 3D printers is costly and must be modified regularly to make it functional and effective. The cost of a 3D printer can vary by tens of thousands of dollars, from basic $200 fused filament fabrication (FDM) machines to the most advanced ones. The high cost associated with 3D printing limits the demand for 3D printers thereby restraining the growth of the 3D printer manufacturing market.
In February 2019, Xerox, the American manufacturer of printers and photocopiers, acquired Vader Systems for an undisclosed amount. This acquisition helps Xerox to access a Total Addressable Market (TAM) of $8 billion for additive/digital manufacturing. Vader Systems is a New York-based manufacturer of liquid metal jet 3D printers.
The growth in the use of 3D printed products in the automotive industry is a key factor driving the growth of the 3D printer manufacturing market. The manufacture of lightweight vehicle components is possible with the aid of 3D printing that reduces vehicle weight, boosts car performance, and increases fuel economy, and greater productivity can be achieved in injection molding equipment manufacturing using 3D printing technology. For instance, in 2019, General Motors collaborated with Autodesk to produce 3D printed lower cost and lighter vehicle parts. Therefore, the growth in demand for 3D printed products in the automotive industry drives the demand for manufacturing 3D printers and contributes to the growth of the 3D printer manufacturing market.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information about this report visit https://www.researchandmarkets.com/r/hs0pjn
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INDUSTRY KEYWORD: TECHNOLOGY OTHER MANUFACTURING MANUFACTURING CONSUMER ELECTRONICS
SOURCE: Research and Markets
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PUB: 09/09/2021 06:09 PM/DISC: 09/09/2021 06:10 PM