- Printer
- Service
- Software
- Material
Industrial 3D Printing Market was valued at USD 16.7 billion in 2022 and is poised to grow at a 12.3% CAGR from 2023 to 2029. Industrial 3D printing is a manufacturing method for the creation of a physical product from a computer-aided design (CAD) digital file. Thin layers of material are deposited incrementally until the object is complete. Various technologies such as stereolithography, fused deposition modeling, and others are used for 3D printing, mainly it is used in automotive, healthcare, and architecture for printing complex designing. Industrial 3D printing is complying with prototyping to high-functional parts design, this technology has unique capabilities of reaching high printing speed which drives the market since 3D printing is used for high production which eradicates the traditional tooling method and also cuts lead time for prototyping. An increase in technology leads to smart manufacturing concepts in a different industry, smart manufacturing covers 3D modeling and create a new revolution in the market, leading to creating various opportunity. The plastic filament used in 3D printing is inexpensive, but a by-product of 3D printing ends up in landfills which creates an adverse effect in the market and is a major challenge in the industrial 3D printing market. Geographically, North America held the major market share in 2022 and is expected to dominate the industrial 3D printing market in the forecasted years.
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Fastest Growing Market
The increasing use of 3D printing of complex structures across the world is the major market driver in the Industrial 3D Printing Market during the forecast period. Increased mass production of 3D printing, this technology is transforming from prototyping to functional products. 3D printing is expected to emerge in the forecast period, due to the high use of technology that benefited various industries such as automotive, healthcare, and aerospace for the production of various complex structures. Hence, this will drive global market growth at a significant rate.
The industrial 3d printing market size was valued at USD 16.7 billion in 2022, growing at a 12.3% CAGR from 2023 to 2029.
The leading players in the Industrial 3D Printing Market are Stratasys, Ltd., Materialise, EnvisionTec, Inc., LEGO, Nano3DPrint, 3D Systems, Inc., GE Additive, Autodesk Inc., Made In Space, Canon Inc., Voxeljet AG
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation and Seven years forecast is presented from 2023 – 2029.