Global 3D Printers Market Anticipated to Generate a Revenue of $35.36 Billion and Rise at a CAGR 18.00% during the Analysis Timeframe from 2022 to 2028 | Vantage Market Research

WASHINGTON, March 29, 2022 (GLOBE NEWSWIRE) -- Ease in Development activities by providing rapid prototyping solutions is fueling the growth of Global 3D Printer Market. Also, reduction in manufacturing by avoiding rework cost is another major factor that is expected to generate revenue for the market in the forecast year. Owing to this motivational advancement Global 3D Printer Market is expected to flourish in coming years, states Vantage Market Research, in a report, titled “Global 3D Printer Market Size, Share & Trends Analysis Report by Technology (laser-based 3D printers, electron beam melting (EBM) 3D printers, material jetting 3D printers), by Material (plastics, metals, ceramics, composites), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.

The market size stood at 11.1 USD Billion in 2021. The Global 3D Printer Market size is expected to reach 35.36 USD Billion by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 18.00% during the forecast period.

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Key Insights & Findings from the Report:

• According to our primary respondents’ research, the 3D Printer market is predicted to grow at a CAGR of roughly 18.00% during the forecast period.
• The 3D Printer market was estimated to be worth roughly USD 11.1 Billion in 2021 and is expected to reach USD 35.36 Billion by 2028; based on primary research.
• On the basis of region, Asia-Pacific is projected to dominate the worldwide 3D Printer market.
  

The report on Global 3D Printer Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Value Chain Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Porter’s Five Forces Analysis
• Global and Regional Dynamics
  

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Market Overview:

Driver: Rising Investment by Government Bodies in 3D Printing Project

As 3D printer is considered to be an emerging global market, the government organisations across the globe are promoting 3D printers manufacturers with special policies to overcome financial problems. Also government is providing special educational seminars to overcome technical and economic barriers. The policies passed by these authorities are helping to conduct a healthy environment for design, development and deployment of 3D Printers. 3D printing or additive manufacturing uses computer-aided designing to make prototypes or working models of objects by laying down successive layers of materials such as plastic, resin, thermoplastic, metal, fiber or ceramic. With the help of software, the model to be printed is first developed by the computer, which then gives instructions to the 3D printer. The major challenge that might be faced by the manufacturers is the availability of raw material as it’s considered to be very niche market.

Lack of Skilled Professionals and High Cost of Raw Material is expected hinder the Global 3D Printer Market Growth

The lack of skilled professionals is one of the major problems currently faced by 3D printer manufacturers, especially those which are located in under developed countries. The cost of raw material is another factor that is expected to hinder the market to some extent as majority of the materials are manufactured by companies having patents. Hence countries such as Brazil, India, Australia, and others might face cost challenges. These are some of the challenges that are currently faced by the Global 3D Printer Market.

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COVID-19 Analysis:

The COVID-19 outbreak has affected various industrial facilities worldwide. The Global 3D Printer Market also had a huge impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data- points:

1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Region 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

Regional Analysis:

Increasing Growth of Global 3D Printer Market in Asia Pacific

The North America is expected to grow at the fastest rate during the forecast period, owing to the prevalence for increase in number of well-established manufacturing facilities and technical institutes in the US and Canada. Also, large number of on-going research studies and growth of the overall industrial sector are among the few factors expected to contribute to the growth of this market in this region. Key players are spending huge funds in R&D are also one of the factors that are booming the development of Global 3D Printer Market in this region. For instance, In May 2021, GE Additive partnered with Protolabs and fashion designer Zac Posen to construct four gowns and a headdress for showing at the Met Gala. Electron-beam melting (EBM), Multi Jet Fusion (MJF), and stereolithography (SLA) technology were used across the items to fulfill the design requirements of wearable clothes. In March 2021, Stratasys launched a 3D printer that enables dental labs 3D printing efficiency paired with the company’s polyJet realism and precision technology. The J5 DentaJet 3D printer is a multi-material dental 3D printer that allows technicians to load mixed trays of dental parts. The new 3D printer consumes only 4.6 sq. ft (0.43 sq. m) of floor space and can produce at least five times more dental parts on a single mixed tray than competitive 3D printers. In March 2021, Renishaw collaborated with Domin, a manufacturer of hydraulic systems and direct drive servo valves, to develop a high-performance servo valve. Under this collaboration, Domin has increased its productivity and reduced cost per part by using Renishaw’s RenAM 500Q, a four-laser AM system that is designed for serial production applications.

Asia Pacific is anticipated to showcase largest growth over the forecast period. This is owing to government-funded investments in studies of 3D printed solutions and foreign investments. This region is expected to witness substantial growth owing to unmet needs of the huge population base and improving manufacturing infrastructure.

Browse market data Tables and Figures spread through 136 Pages and in-depth TOC on "Global 3D Printer Market Size, Share & Trends Analysis Report by Technology (laser-based 3D printers, electron beam melting (EBM) 3D printers, material jetting 3D printers), by Material (plastics, metals, ceramics, composites), by Region (North America, Europe, Asia Pacific, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/global-3d-printer-market-626535

List of Prominent Players in the Global 3D Printer Market:

• Stratasys Ltd. (U.S.)
• 3D Systems Corporation (U.S.)
• HP Inc. (U.S.)
• Koninklijke Philips N.V. (Netherlands)
• Canon Inc. (Japan)
  

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the 3D Printer Market?
• How will the 3D Printer Market change in the upcoming six years?
• Which application and product will take a lion’s share of the 3D Printer Market?
• What is the 3D Printer market drivers and restrictions?
• What will be the CAGR and size of the 3D Printer Market throughout the forecast period?       

This market titled “Global 3D Printer Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:

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