07.29.21
According to MarketsandMarkets’ new research report, "3D Printing Market by Offering (Printer, Material, Software, Service), Process (Binder Jetting, Direct Energy Deposition, Material Extrusion, Material Jetting, Powder Bed Fusion), Application, Vertical, Technology, and Geography - Global Forecast to 2026," the global 3D printing market size is expected to grow from $12.6 billion in 2021 to $34.8 billion by 2026, at a CAGR of 22.5%.
Increased demand for healthcare supplies due to the COVID-19 outbreak and the potential to improve manufacturing processes and enhance supply chain management have created opportunities for the providers of 3D printing solutions in the market. However, factors including limited availability and high cost of materials, limitation of product size, lack of standard process control, and the threat of copyright infringement might hamper the growth of the overall market in the coming years.
The printers segment captures the largest share of the 3D printing market. It mainly includes industrial and desktop printers. The production process offers a range of advantages, such as design flexibility, rapid prototyping, print-on-demand, minimal wastage, fast designing and production, ease of access, and time and cost efficiency, amongst others.
Since it is a single-step manufacturing process, 3D printing saves time and costs associated with using different machines for manufacturing. The rising adoption of 3D printing in verticals, such as aerospace & defense, industrial, automotive, consumer products, healthcare, provides opportunities for the 3D printer market.
The 3D printing market for the industrial vertical accounts for the largest market share of 3D printing. Rising trends of smart manufacturing, robotics, industrial services, and cloud applications provide opportunities to the 3D printing market for the industrial vertical. From jigs and fixtures to end-of-arm tooling, the industrial vertical is shifting its adoption of 3D printers for applications from prototyping to end products.
Increased demand for healthcare supplies due to the COVID-19 outbreak and the potential to improve manufacturing processes and enhance supply chain management have created opportunities for the providers of 3D printing solutions in the market. However, factors including limited availability and high cost of materials, limitation of product size, lack of standard process control, and the threat of copyright infringement might hamper the growth of the overall market in the coming years.
The printers segment captures the largest share of the 3D printing market. It mainly includes industrial and desktop printers. The production process offers a range of advantages, such as design flexibility, rapid prototyping, print-on-demand, minimal wastage, fast designing and production, ease of access, and time and cost efficiency, amongst others.
Since it is a single-step manufacturing process, 3D printing saves time and costs associated with using different machines for manufacturing. The rising adoption of 3D printing in verticals, such as aerospace & defense, industrial, automotive, consumer products, healthcare, provides opportunities for the 3D printer market.
The 3D printing market for the industrial vertical accounts for the largest market share of 3D printing. Rising trends of smart manufacturing, robotics, industrial services, and cloud applications provide opportunities to the 3D printing market for the industrial vertical. From jigs and fixtures to end-of-arm tooling, the industrial vertical is shifting its adoption of 3D printers for applications from prototyping to end products.
