3D Printer Global Market Report 2024

The 3D printer market size has grown rapidly in recent years. It will grow from $20.98 billion in 2023 to $24.61 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The expansion observed in the historical period can be linked to robust economic growth in emerging markets, heightened adoption of 3D printed products within the automotive sector, and a surge in government investments in 3D printing technologies.

The 3D printer market size is expected to see rapid growth in the next few years. It will grow to $48.67 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. Anticipated growth is fueled by increased demand for 3D printed medical devices, growing prototyping needs, and government support. Key trends include technological advancements in 3D printing, a swift move from prototyping to functional parts production, innovative product introductions, 3D printer use in eco-friendly construction projects, and an uptick in mergers and acquisitions.

The projected expansion of the automotive industry is set to act as a catalyst for the growth of the 3D printer market in the coming times. Within the automotive sector - comprising entities involved in vehicle design, development, manufacturing, marketing, sales, repair, and modification - 3D printing has introduced transformative advancements. This technology has notably facilitated the production of highly personalized components, minimized lead times and tooling expenses, and enabled the creation of intricate geometries previously challenging or unattainable using traditional methods. For instance, as per the data released by the Board of Governors of the Federal Reserve System in August 2023, vehicle production in the United States surged to 11.77 million units in July, marking an increase from 10.91 million units in June. Consequently, the burgeoning automotive industry is a significant driver behind the growth of the 3D printer market.

The anticipated growth in the manufacturing industry is poised to fuel the expansion of the 3D printer market moving forward. Encompassing the production of tangible goods through diverse processes from raw materials to finished products, the manufacturing sector is a key beneficiary of 3D printing technology. These printers have revolutionized manufacturing by enabling rapid prototyping, customized part creation, and on-demand manufacturing, resulting in time and cost efficiencies. For instance, as indicated by Eurostat, a UK-based government statistical agency, the industrial output in the European area observed a 0.2% increase in July 2023. Similarly, the European Union reported a 0.1% increase between May and April 2023. Therefore, the upward trajectory of the manufacturing industry significantly propels the growth of the 3D printer market.

Leading companies within the 3D printer manufacturing market are introducing printers with expansive capabilities across the vast Asia-Pacific region, focusing on faster printing speeds than conventional models. Nexa3D's stereo lithograph apparatus (SLA) 3D printer is a prime example, boasting a speed six times faster than competitors' machines, coupled with an Asia-Pacific build area that is 2.5 times larger. This innovation significantly reduces prototype production time from hours to mere minutes and employs robust materials capable of withstanding ultra-fast 3D printing. In 2022, Xact Metal, a US-based 3D printer manufacturer, launched the XM300G 3D printer aimed at providing industrial-grade capabilities to small-to-medium-sized businesses at a competitive price point. This versatile printer, programmable with single, dual, or quad lasers, targets various sectors, including aerospace, automotive, and general manufacturing.

Major players in the 3D printer market are strategically focusing on the development of innovative and high-performance Fused Filament Fabrication (FFF) 3D printers, exemplified by the Magneto X, to secure a competitive edge. The Magneto X represents a pioneering desktop FFF 3D printer utilizing MagLev technology - a first of its kind globally. Specifically designed for high-speed, precise, and optimized 3D printing, Peopoly, a Hong Kong-based 3D printer manufacturer, unveiled the Magneto X in September 2023. This groundbreaking printer optimizes desktop 3D printing performance by leveraging magnets, surpassing traditional belt and pulley systems. The Magneto X delivers enhanced speed, superior surface finish, and unparalleled precision in desktop 3D printing, leveraging the power of magnets for its operation.

In February 2022, 3D Systems, a US-based 3D printing company, completed the acquisition of Kumovis and Titan Additive LLC for an undisclosed sum. This strategic move enables 3D Systems to incorporate an innovative extrusion technique into its extensive polymer printing healthcare portfolio, expanding its market reach for customized healthcare applications. Kumovis, based in Germany, specializes in manufacturing 3D printers for medical applications, while Titan Additive, based in the US, is known for producing hybrid machines that combine 3D printing with machining, utilizing filament or granules.

Major companies operating in the 3D printer market report are 3D Systems Corporation, Stratasys Ltd., GE Company, EOS GmbH, Hewlett Packard, SLM Solutions Group AG, The ExOne Company, Formlabs, MarkForged Inc., Voxeljet AG, Bharma3, JGroup Robotics, Altem, Novabeans, CMK Corporation, Modix, Karkhana.io, Breezam, Addentax, mago, BMF Precision, Fuji Xerox, Think 3D, UnionTech 3D, Sichuan Revotek, Regenovo Biotech, Tiertime, Shining 3D, Winsun, HuaShang Tenda, Prodways, BeAM, AddUp, 3D Ceram, The BigRep GmbH, Renishaw, AMMA Solutions, 3D Parts Ltd., Volumic, 3D Criar, 3D Procer, Alcateia, AMS, 3D Bioprinting Solutions, Anisoprint, AMT Spetsavia, UrbanAlps, Hewlett Packard (HP), Proto Labs, Materialise, Nano Dimension, Organovo, SondaSYS, Cosine Additive, 3D Print Pulse, Sethi3D, Sciaky Inc., BigRep 3D, Robtec, Optomec, Zortrax, Kikai Labs, CHIMAK 3D, Trimaker, Trideo, VOXEL 3D, 3D Manzil, 3Dvinci, Immensa, Shisan, Etba3ly 3D, Akhani 3D, Rapid 3D, Artec 3D, 3D Africa.

North America was the largest region in the 3D printer market in 2023. Asia-Pacific was the second-largest region in the global 3D printer market report. The regions covered in the 3D printer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the 3D printer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary categories of 3D printers include desktop 3D printers and industrial 3D printers. Desktop 3D printers are compact devices capable of crafting objects from scratch. Named for their ability to fit on a standard desk, these 'desktop 3D printers' do not require extensive open space. Despite their small and portable nature, desktop 3D printers utilize various technologies such as stereo lithography (SLA), fused deposition modeling (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), and other technologies. These printers find applications in diverse industries, including aerospace and defense, healthcare, food, construction and architecture, among others.

The 3D printer manufacturing market research report is one of a series of new reports that provides 3D printer manufacturing market statistics, including 3D printer manufacturing industry global market size, regional shares, competitors with a 3D printer manufacturing market share, detailed 3D printer manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the 3D printer manufacturing industry. This 3D printer manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The 3D printer market consists of sales of machinery which are used in various applications such as functional prototyping, concept modeling, anatomical modeling, composite tooling. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.