3d Printing Market By Offering, Process, Application, Vertical, Technology | Covid-19 Impact Analysis | Marketsandmarkets

By Author: Steve Stark
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The global 3D printing market is expected to grow from USD 12.6 billion in 2021 to USD 34.8 billion by 2026, at a CAGR of 22.5%. Ease in development of customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects, and development of new industrial-grade 3D printing materialsa are some of the factors accelerating the growth of 3D printing market.

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COVID-19 Impact on the Global 3D Printing market

The COVID-19 pandemic has disrupted all supply chains in the ecosystem. Considering the 3D printing market, the pandemic has caused a diverse impact on the industry verticals, including healthcare, automotive, aerospace, consumer electronics, retail, energy and power, oil & gas, construction, jewelry, food & culinary, and education, among others. The healthcare industry has witnessed an exceptional spike during the pandemic as the demand for personal protective equipment such as face masks, shields, and ear straps has increased. Moreover, the demand for venturi valves and ...
... regulators assisting patients to breathe has also increased. Apart from this, e-commerce has flourished owing to lockdowns across regions and limitations with logistics. 3D printing manufacturers can print and distribute the goods directly and can have complete control of the materials used for manufacture, storage conditions, and distribution. They can also sell the digital files that allow the customer to print the device themselves.

Industrial 3D printers to dominate the market during the forecast period

The printers segment captures the largest share of the 3D printing market. It mainly includes industrial and desktop printers. 3D printing has gained exceptional traction during the past decade owing to the multiple advantages of 3D printers over traditional manufacturing processes. 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. The market for industrial 3D printers is expected to achieve higher growth during the forecast period. These printers can be used for personal, professional, and production purposes. These printers can be set up to print any part or module continuously, thereby minimizing the costs of materials and ensuring little or no wastage.

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Automotive vertical is expected to witness the fastest growth during the forecast period

3D printing is an augmentation in the available manufacturing technologies and is aggressively expanding its footprint in different applications globally. The 3D printing technology has the access and ability to print simple and complex objects in small to large sizes. The automotive vertical is the fastest-growing vertical for the 3D printing market. The automotive industry has also shifted from the use of 3D printing for prototyping applications to the manufacturing of final components & products. The demand for newer, better-performing vehicles, as well as the need to optimize production and streamline supply chains and logistics, drive the growth of the market.

North America to lead the 3D Printing market during forecast period

Increasing investment in 3D printing start-ups, government support, are technology innovation are some of the factors driving the growth of the North American market. North America dominates the 3D printing market owing to several factors, including the presence of additive manufacturing companies, service bureaus, and engineering firms. North America is at the forefront in terms of the development of 3D printing. Various players are involved in R&D activities across different verticals. An increase in investments is also seen in North America, which is providing an opportunity for the market.

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