3D Printer Market Size 2024-2028

The 3D printer market size is forecast to increase by USD 30.00 billion, at a CAGR of 23.16% between 2023 and 2028. The market is experiencing significant growth driven by several key factors. There is a growing consumer interest in 3D customized products, coupled with increasing investments in additive manufacturing. Emphasis on reducing time-to-market and the advent of virtual inventories are further fueling market expansion. Additionally, the demand for new materials and the rise in outsourcing of 3D printing services are contributing to market growth. However, challenges such as the high cost of workforce training, lack of availability of raw materials, and limited in-house additive manufacturing resources pose significant obstacles to market development. Our market report examines historical data from 2018-2022, besides analyzing the current and forecasted market scenario.

What will be the Size of the 3D Printer  Market During the Forecast Period?

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The 3D printing marketplace is rapidly evolving, driven by advancements in three-dimensional printing technologies and the growing demand for 3-dimensional printer across various industries. Businesses in sectors like industrial manufacturing, defense industries, textiles, jewelry ,footwear and food and culinary are increasingly investing in 3D printing hardware and filament to enhance production efficiency and reduce production expenses . In the Asia Pacific region, developments in 3D printing are gaining momentum, with significant investments in machines, installation services, and patenting. Printed electronics and jigs and fixtures are key applications, demonstrating the technology's versatility. As education fields also adopt these technologies, consultation solutions and expertise in 3D printing in the education sector become essential, driving further innovation and market expansion. The increasing investments by governments and industry participants in additive manufacturing are accelerating the development and adoption of 3D printers in the region. The high growth potential of additive manufacturing is encouraging industry participants to enter into strategic partnerships to tap the potential market.

3D Printer Market Segmentation

In the product segment of the market, additive manufacturing (AM) technologies revolutionize various industrial applications. The market thrives on the versatility and efficiency of 3D printing technology, catering to diverse industry verticals. From medical devices to injection molding, 3D printers offer unparalleled flexibility and precision. Moreover, the burgeoning 3D printing materials market supports innovations in layer-by-layer addition, ensuring high-quality production. Manufacturers benefit from streamlined processes, utilizing three-dimensional files and standard process controls to enhance productivity and product quality. As demand grows across industries, the 3D Printing Market continues to expand, driving advancements in manufacturing capabilities worldwide. The 3D printer market forecasting report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in USD Billion for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments. 

• Product Outlook
  • Industrial 3D printer
  • Desktop 3D printer

• Technology Outlook 
  • Fused deposition modelling
  • Selective laser sintering
  • Stereolithography
  • Others

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Product Analysis

The market share growth by the industrial 3D printer segment will be significant during the forecast period. The major reason for the domination of the industrial sector is the increasing adoption of industrial printers for designing, prototyping, and tooling in several industries, such as aerospace and defense, automotive, consumer electronics, and healthcare as predicted in this market growth report. 

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The industrial 3D printer segment was valued at USD 6.50 billion in 2018. In the aerospace industry, additive manufacturing is used to develop various components such as jet engines, injectors, valves, and several others, as it is almost impossible to imagine the manufacturing of components with a complex design using traditional industrial printing and  manufacturing techniques. Hence, the aerospace industry is exploring various options for using additive manufacturing. This clearly shows that the use of additive manufacturing can significantly increase production and save time. Thus, such factors will drive the market during the forecast period.

Regional Analysis

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North America is estimated to contribute 36% to global 3D printer market growth by 2028. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. North America dominated the market in 2023 and will continue leading during the forecast period, surpassing Europe and APAC. Increased government investments and rising demand in aerospace, defense, consumer electronics, and healthcare sectors drive this growth. Additive manufacturing investments accelerate development, with companies opening solution centers to educate customers. In aerospace and defense, cost reduction drives additive manufacturing adoption, while healthcare sees high usage for innovative designs. Consumer electronics also embrace 3D printing for futuristic products.

3D Printer Market Dynamics

The market is witnessing exponential growth, driven by its industrial applications across various sectors like healthcare, automotive, and aerospace & defense. This technology enables the production of medical devices, intricate components for automotive and aerospace industries, and even circuit boards. Leveraging layer-by-layer addition, 3D printing ensures customized production, rapid prototyping, and the fabrication of complex geometries. It reduces process downtime, offering mixed materials such as ceramics and composites. With stringent safety and quality standards and robust software for standard process controls, 3D printing remains unmatched, despite substitutes, providing innovative solutions for diverse industry verticals.

Our researchers studied the market research and growth data for years, with 2023 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.

Key Market Driver

Customization involves tailoring or modifying products to meet specific customer needs and preferences. There is a growing consumer interest in personalized products, either by ordering from companies offering customization services or by utilizing 3D desktop printers to create products in-house. The affordability of desktop 3D printers has enabled individual consumers to produce customized items such as toys and home decor, albeit at a higher cost.

Moreover, consumers with ample disposable income are investing in 3D printers, while others are opting for online companies providing customized products. Beyond individual consumers, industry professionals are also embracing 3D printing technology to cater to customer expectations, enhance service quality, and boost speed and profits. These trends are poised to drive the growth of the market, particularly in the context of additive manufacturing (AM), prototyping processes, and research & development in various sectors, including healthcare.

Significant Market Trends

Outsourcing 3D printing is the business of hiring a third party to generate goods and services on behalf of a firm. Outsourcing is typically used to reduce the expenses of various production processes. Prototypes and production runs are both outsourced 3D printing projects. Many engineers and designers are abandoning their internal printers in favor of an external service provider due to 3D printing companies that can guarantee 24-hour production/delivery.

Furthermore, due to a scarcity of equipment, there is a considerable surge in outsourced 3D printing. For instance, a corporation may have an SLA machine that prints resin parts, but if it wants to 3d metal part will need to invest in a metal material-based 3D printer, which is more expensive. Thus, outsourcing is the best option in such cases. Another reason for outsourcing is the lack of the right knowledge and experience to operate the machine and set up the right mix of materials.

Major Market Challenge

Basic training on these printers and the types of technologies and technical training are necessary at various levels such as designers, manufacturers, and consumers. Moreover, technical training helps the workforce understand the depth of technologies and helps decision-makers understand the ways of utilizing additive manufacturing. One of the main advantages of using additive manufacturing is the enhancement of the supply chain.

Furthermore, advanced training must be given to understand material handling, preprocessing, and post-processing. However, the cost of training is high as such printers and their materials come at a high cost, which directly impacts the cost of training among the different levels of the workforce. Therefore, the high cost of training the workforce in additive manufacturing is expected to hinder 3D printer market growth during the forecast period.

Who are the Major 3D Printer Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• 3D Systems Corp.: The company offers 3D printers such as SLA 750, DMP Factory 500, DMP Flex 350, ProX 950, and ProJet 7000HD.

We also have detailed analyses of the market's competitive landscape and offer information on 20 market companies, including:

ANYCUBIC Technology Co. Ltd., Desktop Metal Inc., Formlabs Inc., General Electric Co., HP Inc., LuxCreo Inc., Markforged Holding Corp., Nano Dimension Ltd., Organovo Holdings Inc., Shenzhen Creality 3DTechnology Co. Ltd, SLM Solutions Group AG, Stratasys Ltd., voxeljet AG, WANHAO 3DPRINTER, XYZPRINTING Inc., Zhejiang Flashforge 3DTechnology Co. Ltd., and Zortrax S.A. 

Technavio market forecast provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.  

Market Analyst Overview

The 3D printer market is at the forefront of industrial innovation, penetrating various industry verticals from medical devices to circuit boards manufacturing. With advancements in 3D printing technologies and rapid prototyping services, companies explore customized production and tackle complex geometries with ease. Injection molding and CNC machining faces competition from the 3D printing materials market, offering mixed materials and ceramics options. The market landscape depends on Art and architecture, Skilled workforce, Design tools, Hearing aids, Structural electronics, Print sensors, Cell phone antennae, Batteries, Solar cells, Light-emitting diodes, and Lowcost 3D printers.  Adherence to standards ensures quality, while substitutes for 3D printing continue to emerge, challenging the market. Despite occasional process downtime, 3D printers enable efficient production, reducing lead times and costs. The accessibility of the three-dimensional file and printing software empowers designers, propelling the market forward into new realms of innovation. Portable printers have also seen growth and innovation over the years. 

The 3D printer market growth analysis report caters to diverse industries like aerospace & defense, offering innovative solutions for manufacturing complex components. Utilizing layer-by-layer addition techniques, 3D printers translate three-dimensional files into tangible objects, facilitating customized production with mixed materials like ceramics and composites. These printers integrate advanced software and printing technologies, ensuring standard process controls for safety, quality, and adherence to industry standards. With capabilities for rapid prototyping and production of intricate geometries, they minimize process downtime and offer substitutes for traditional manufacturing methods, including circuit board fabrication

This market growth report predicts that the market continues to expand its reach across various industrial applications, catering to small and medium-scale manufacturers and enterprises alike. With advancements in the 3D printing materials market, plastics, metals, and composites are readily available for prototyping applications. Access to the three-dimensional file facilitates the creation of functional components with high precision and durability. Three-dimensional printers enable the production of digital design files into tangible three-dimensional objects, revolutionizing manufacturing processes. From small-scale to medium-scale enterprises, the versatility of 3-dimensional printing offers solutions for diverse needs, driving innovation and efficiency in the industrial landscape.

In the market, small-scale and medium-scale enterprises are leveraging the technology to produce a diverse range of three-dimensional objects with varying mechanical properties. Despite the high cost of raw materials, 3D printers offer unparalleled accuracy and reproducibility, crucial for meeting standardized tests and ensuring suitability for specific applications. However, challenges such as porosity and inconsistencies in powder composition, particle homogeneity, and morphology persist. Manufacturers strive to address these issues to enhance the overall quality of printed objects. As the market evolves, advancements in 3D printing technologies continue to drive innovation, offering new possibilities for industries worldwide.

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What are the Key Data Covered in this 3D Printer Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market growth and trends and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Market growth and forecasting across North America, Europe, APAC, South America, and Middle East and Africa in this market overview
• A thorough market analysis and report of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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