The global 3D printing market is set to witness an impressive growth rate of 20.5% over the forecasted years of 2022 to 2032. The 3D printing market size is anticipated to reach a valuation of around US$ 148.4 Billion by the end of year 2032 from the current valuation of US$ 22.9 Billion in 2022.
The widespread demand for 3D printers in the manufacturing sector for machining, modelling, and prototyping is the major factor for the 3D printing market growth. Owing to this fact, the industrial 3D printers segment is thus anticipated to maintain its dominance over the global 3D printing market during the forecasted years.
Due to the widespread implementation of the technology across several 3D printing processes, Direct Metal Laser Sintering or DMLS technology type accounted for a highest revenue share in 2022. Due to the fact that these technologies can be used in specialized additive manufacturing processes, the DLP, EBM, inkjet printing, and DMLS sectors are anticipated to see a rise in acceptance throughout the projection period.
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One of the earliest and most widely used 3D printing processes is stereolithography, whose contribution share was valued for about US$ 3 Billion for the year 2022. But even though the benefits and ease of use of stereolithography technology are promoting its adoption, technological advancements and intense R&D activities carried out by 3D printing company experts and researchers are creating opportunities for a number of other effective and dependable technologies
Key Takeaways from Market Study
- The overall growth of the global 3D printing market is estimated to be around US$ 31.38 Billion over the forecast decade covering the years 2022 to 2032, by following the average CAGR of 4.5%.
- The 3D printer machine is the highest grossing component type with a valuation of US$ 11 Billion in the current year that accounts for more than half of the total market value.
- The Direct Metal Laser Sintering or DMLS technology segment is the most preferred category for the global 3D printing market that contributes for almost 23% of the overall size.
- On the Basis of application, prototype segment dominates the 3D printing market trends with a market valuation of US$ 10.8 Billion in 2022.
- Consumer goods or electronics manufacturing is the largest end use vertical of the 3D printing market share that contributes for more 205 of the total sales
- The North America 3D printing market share is the largest among all the broad geographical regions. It is estimated to be valued around US$ 8.1 Billion IN 2022 and can reach up to a valuation of US$ 50.3 Billion by the end of the forecast period in 2032.
Some of the well-known packaging 3d Printing market players are Stratasys, Ltd., Materialise, EnvisionTec, Inc., 3D Systems, Inc., GE Additive, Autodesk Inc., Made In Space, Canon Inc., and Voxeljet AG among others.
In line with rising requirement for 3D printing applications in several industrial verticals for manufacturing and innovation purposes, 3D printing market key players are consistently improving the technology. The leading 3D printing companies are spotting opportunities for business evolution through the use of additive manufacturing into the procedures for developing new products.
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3D Printing Market by Segmentation
- 3D Printers
- 3D Printing Services
- 3D Printing Software
- Consulting Services
- Support Services
- Digital Light Processing (DLP)
- Direct Metal Laser Sintering (DMLS)
- Electron Beam Melting (EBM)
- Fused Deposition Modelling (FDM)
- Selective Laser Sintering (SLS)
- Production Parts
- Tools & Fixtures
By Industry :
- Aerospace & Aeronautics
- Consumer Goods
- Healthcare & Medical Devices
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
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The post At an impressive CAGR of 20.5%, the 3D Printing Market share is anticipated to be worth of about US$ 148.4 Bn by year 2032-end. Get latest data analysis by the experts at FMI appeared first on Future Market Insights.
Original Source of the original story >> At an impressive CAGR of 20.5%, the 3D Printing Market share is anticipated to be worth of about US$ 148.4 Bn by year 2032-end. Get latest data analysis by the experts at FMI