Limited Availability Of Equipment Generated High Demand For The 3D Printers Market
November 25, 2021
The Business Research Company’s 3D Printers Market 2021 - Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 25, 2021 /EINPresswire.com/ -- The outbreak of COVID-19 has led to the increased demand for 3D printed medical devices and this factor is expected to drive the market during the forecast period. In 2020, the COVID outbreak became a major health problem globally and many countries imposed a lockdown which resulted in the shutting of manufacturing and company operations. The major challenge faced by the healthcare industry is the lack of equipment for the COVID-19 battle. There was no sufficient personal protective equipment (PPE) including gloves, face masks, clothing, and eye protection. Additionally, the lack of necessary components such as nasal swabs which are used for testing is another issue that is being faced. To overcome the limited availability of equipment, the foremost solution is 3D printing that allows three-dimensional renderings to be realized as physical objects with the use of a printer, and that revolutionized prototyping. Thus, high demand for 3D printed PPE and other medical devices during the COVID-19 outbreak generated a high requirement for the 3D printer market.
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The global 3D printers market size reached a value of nearly $8.62 billion in 2020, having increased at a compound annual growth rate (CAGR) of 16.8% since 2015. The 3D printers market is expected to grow from $8.62 billion in 2020 to $20.89 billion in 2025 at a rate of 19.4%. The 3D printers market is then expected to grow at a CAGR of 13.4% from 2025 and reach $39.25 billion in 2030.
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A key trend gaining popularity in the 3D printers market is the rapid shift from prototyping to functional parts manufacturing across various verticals such as consumer goods, medical, automotive, and aerospace among others. The development of 3D printing saw a rapid growth in the number of companies adopting the technology. The use cases and applications vary across industries which largely comprise visual and functional prototypes, tooling aids, and even end parts manufacturing. For instance, the aerospace and defense industry contributed $10.4 billion or 16.8% in the additive manufacturing market in 2019 and includes functional prototyping, tooling, and lightweight components manufacturing using 3D printers. According to a SmarTech report, the revenues relating to additive manufacturing (AM) in automotive part production are predicted to reach $5.8 billion by the end of 2025. Also, the medical and dental industry is one of the fastest-growing adopters of AM, with 97% of medical AM professionals being confident about the increasing use of 3D printing in the sector. The functional parts manufacturing in the medical industry comprises the manufacturing of medical devices, dental aligners, and prosthetics.
Major players covered in the global 3D printers market are Bharma3, JGroup Robotics, Stratasys India, Altem, Think 3Dare.
North America was the largest region in the 3D printers market, accounting for 35.4% of the total in 2020. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the 3D printers market will be the Middle East, and Africa.
The industrial 3D printer was the largest segment of the 3D printers market segmented by type, accounting for 88.9% of the total in 2020. Going forward, the desktop 3D printer segment is expected to be the fastest growing segment in the 3D printers market segmented by type, at a CAGR of 19.38% during 2020-2025.
TBRC’s global 3D printers market report is further segmented by printer type into desktop 3D printer, industrial 3D printer, by end use industry into automotive, aerospace & defense, healthcare, food, construction & architecture, others, by technology into stereolithography, fused deposition modeling (FDM), selective laser sintering (SLS), direct metal laser sintering (DMLS), polyjet/multijet printing (MJP), inkjet printing, electron beam melting (EBM), laser metal deposition (LMD), direct light projection (DLP).
3D Printers Market 2021 - By Printer Type (Desktop 3D printer, Industrial 3D printer), By End Use Industry (Automotive, Aerospace & Defense, Healthcare, Food, Construction & Architecture), By Technology (Stereolithography, Fused deposition modeling (FDM), Selective laser sintering (SLS), Direct metal laser sintering (DMLS), Polyjet/multijet printing (MJP), Inkjet printing, Electron beam melting (EBM), Laser metal deposition (LMD), Direct light projection (DLP)) And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides 3D printers market overview, forecast 3D printers market size and growth for the whole market, 3D printers market segments, and geographies, 3D printers market trends, 3D printers market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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