3D Printer Market | Demand for 3D Customized Products to Boost the Market Growth

The global 3D printer market size is poised to grow by USD 14.49 billion during 2020-2024, progressing at a CAGR of over 39% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

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Technavio has announced its latest market research report titled Global 3D Printer Market 2020-2024 (Graphic: Business Wire)

The increasing demand for 3D customized products will be a significant factor driving the growth of the 3D printing market. The growing trend of customization has resulted in increasing consumer interest in 3D personalized products that are created according to the needs and requirements of the customer. The affordable price of desktop 3D printers is supporting this trend by allowing consumers with high disposable income to design and develop expensive 3D printed products, such as toys and home décor in-house. Several consumers are also availing the services of online vendors to procure customized products. Thus, the growing interest in 3D customized products will fuel the growth of the 3D printer market during the forecast period.

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Report Highlights:

  • The major 3D printer market growth came from Fused deposition modeling (FDM) technology segment. Fused deposition modeling (FDM) technology is user-friendly and uses filaments such as acrylonitrile butadiene styrene (ABS) and polylactic acid (PLA) plastics, which cost much lower than materials used in selective laser sintering (SLS) and stereolithography (SLA) technology. These factors are expected to boost the demand for FDM-based 3D printers, especially from the automotive, aerospace, and consumer electronics sectors.

  • North America was the largest market for 3D printers in 2019, and the region will continue to offer the maximum growth opportunities to market vendors during the forecast period. Factors such as the increasing government investments and growing demand for 3D printers from the aerospace and defense, consumer electronics, and healthcare sectors are fueling 3D printer market growth in this region.

  • The global 3D printer market is concentrated. 3D Systems Corp., EOS GmbH Electro Optical Systems, Formlabs Inc., HP Inc., Materialise NV, Proto Labs Inc., SLM Solutions Group AG, Stratasys Ltd., Ultimaker BV, and XYZprinting Inc. are some of the major market participants. To help clients improve their market position, this 3D printer market forecast report provides a detailed analysis of the market leaders.

  • As the business impact of COVID-19 spreads, the global 3D printer market 2020-2024 is expected to have Negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

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Growing Demand for New Materials will be a Key Market Trend

The declining prices has resulted in an increase in the adoption of 3D printers, consequently boosting the demand for printing materials, such as plastics, metals, and ceramics. Several companies are focusing on the development of innovative materials to cater to the rising demand for new materials for 3D printing. EOS GmbH Electro Optical Systems launched new metal materials, EOS StainlessSteel CX, EOS Aluminum AlF357, EOS Titanium Ti64 Grade 5, and EOS Titanium Ti64 Grade 23. Formlabs introduced new dental 3D printing materials such as Dental Model, Dental LT Clear, and two other biocompatible materials. The growing demand for new materials, which is one of the critical 3D printer market trends, will have a positive impact on the growth of the market during the next five years.

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3D printer Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist 3D printer market growth during the next five years

  • Estimation of the 3D printer market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the 3D printer market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of 3D printer market vendors

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Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Technology

  • FDM – Market size and forecast 2019-2024

  • SLS – Market size and forecast 2019-2024

  • SLA – Market size and forecast 2019-2024

  • Others – Market size and forecast 2019-2024

Customer landscape

Geographic Landscape

  • Geographic segmentation

  • North America – Market size and forecast 2019-2024

  • Europe – Market size and forecast 2019-2024

  • APAC – Market size and forecast 2019-2024

  • South America – Market size and forecast 2019-2024

  • MEA – Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver – Demand led growth

  • Volume driver – Supply led growth

  • Volume driver – External factors

  • Volume driver – Demand shift in adjacent markets

  • Price driver – Inflation

  • Price driver – Shift from lower to higher-priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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