3d Printing Market: Functional Parts Segment Is Expected To Expand At A Significant Cagr Of 21.4% By 2030

 3D Printing Industry Overview

The global 3D printing market size is expected to reach USD 76.17 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 20.8% from 2022 to 2030. 3D Printing (3DP) is also referred to as Additive Manufacturing (AM) as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of material and the unnecessary material is ground out to obtain the desired object.


3D Printing Market Segmentation

Grand View Research has segmented the global 3D printing market report based on component, printer type, technology, software, application, vertical, material, and region:

Based on the Printer Type Insights, the market is segmented into Desktop 3D Printer, and Industrial 3D Printer.

  • The industrial printer segment led the market and accounted for more than 70.0% share of the global revenue in 2021. Based on the printer type, the industry has been further segmented into industrial and desktop 3D printers.
  • Small businesses are particularly adopting desktop printers and diversifying their business operations to offer 3D printing and other related services. For instance, the concept of ‘fabshops’ is gaining popularity in the U.S. These fabshops offer on-demand 3D printing of parts and components as per the designs and requirements provided by the customers.

 

Based on the Technology Insights, the market is segmented into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melting, Laser Metal Deposition, Digital Light Processing, Laminated Object Manufacturing, and Others.

  • The stereolithography segment led the market and accounted for more than an 8.0% share of the global revenue in 2021. Based on technology, the segmentation has been done into stereolithography, fuse deposition modeling (FDM), direct metal laser sintering (DMLS), selective laser sintering (SLS), inkjet, polyjet, laser metal deposition, electron beam melting (EBM), digital light processing, laminated object manufacturing, and others.
  • Fused Deposition Modeling (FDM) accounted for a considerable revenue share in 2021 owing to the extensive adoption of the technology across various 3DP processes. The DLP, EBM, inkjet printing and DMLS segments are expected to witness a growing adoption during the forecast period as these technologies are applicable in specialized additive manufacturing processes.

 

Based on the Software Insights, the market is segmented into Design Software, Inspection Software, Printer Software, and Scanning Software.

  • The design software segment led the market and accounted for more than 30.0% share of the global revenue in 2021. It is expected to continue dominating the market during the forecast period. Based on software, the 3DP industry has been segmented into design software, inspection software, printer software, and scanning software.
  • The scanning software segment is expected to register the highest CAGR of 21.7% from 2022 to 2030 and generate considerable revenues during the forecast period in line with the growing adoption of scanners.

 

Based on the Application Insights, the market is segmented into Prototyping, Tooling, and Functional Parts.

  • The prototyping segment led the market and accounted for more than 55.0% share of the global revenue in 2021. Based on application, the industry has been segmented further into prototyping, tooling, and functional parts. This is attributed to the extensive adoption of the prototyping process across several industry verticals.
  • The functional parts segment is expected to expand at a significant CAGR of 21.4% from 2022 to 2030 in line with the increasing demand for designing and building functional parts.

 

Based on the Vertical Insights, the market is segmented into Industrial 3D Printing, and Desktop 3D Printing.

  • The automotive segment led the market and accounted for more than 20.0% share of the global revenue in 2021. Based on vertical, the industry has been segmented into separate verticals for desktop and industrial 3D printing.
  • The dental, fashion and jewelry, and food verticals are anticipated to contribute significantly to the growth of the desktop 3DP segment during the forecast period. The dental vertical dominated the market in 2021 and it is expected to continue dominating the market during the forecast period.

 

Based on the Material Insights, the market is segmented into Polymer, Metal, and Ceramic.

  • The metal segment led the market for 3D printing and accounted for more than 50.0% share of the global revenue in 2021. Moreover, the metal segment is anticipated to maintain its lead during the forecast period and is expected to expand at the highest CAGR during the forecast period.
  • The polymer segment accounted for the second-largest revenue share in 2021. The ceramic material segment is expected to witness considerable growth during the forecast period.

 

Based on the Component Insights, the market is segmented into Hardware, Software, and Services.

  • The hardware segment led the market and accounted for more than 60.0% share of the global revenue in 2021. The hardware segment has benefitted significantly from the growing necessity of rapid prototyping and advanced manufacturing practices.
  • The 3DP hardware component segment has been bifurcated by printer type, technology, applications, vertical, and material. The software segment is further categorized by printer type and software type.

 

3D Printing Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

Market leaders like Stratasys Ltd. are moving beyond prototyping toward utilizing the agility that 3D printing can contribute to the complete manufacturing value chain. With its innovative line of 3D printers featuring Fused Deposition Modelling (FDM) and Selective Absorption Fusion (SAF) technology, the company can quickly and cost-effectively produce large end-use parts using additive manufacturing.

Some prominent players in the global 3D printing market include:

  • Stratasys, Ltd.
  • Materialise
  • EnvisionTec, Inc.
  • 3D Systems, Inc.
  • GE Additive
  • Autodesk Inc.
  • Made In Space
  • Canon Inc.
  • Voxeljet AG

 

Order a free sample PDF of the 3D Printing Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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