The 3D printing hardware market was evaluated at US$2.311 billion for the year 2020.
3D printing, or additive manufacturing, is an automated procedure for creating quick prototypes and functioning end-use items. It converts virtual designs created with computer-aided design (CAD) software into thin, virtual, horizontal layer-wise cross-sections until the model is complete. It is a more innovative, speedier, more agile method of product creation and production. Additive manufacturing is developing from a prototyping tool to a functioning aspect of fabrication, owing to significant developments in material composition, such as the increasing use cases of polymers and metals.
Furthermore, the availability of additive manufacturing technology has expanded due to lower equipment prices, increased competence, and increased awareness. In recent years, newer and more effective fused deposition modeling technologies have enabled the use of a wider range of materials, resulting in widespread acceptance across numerous industries. The market's growth is attributed to the significant growth of various industries, such as consumer electronics, healthcare, and automotive, among others. Their growing focus on cost reduction is further inclining them towards adopting advanced 3D Printing technologies, which is expected to boost the adoption of 3D printing hardware, further fueling market growth during the forecast period. Additionally, various technical breakthroughs, such as artificial intelligence (AI) and machine learning (ML), are also boosting the usage of 3D printing machines, as these technologies enable automated printing for more efficient production. For example, Additive Manufacturing Technologies (AMT), a UK-based company, launched its new Digital Manufacturing Systems at Formnext in November 2019. It makes use of AMT's patented technology to offer an automated and digital solution for the full manufacturing process.
However, as technology progresses, 3D printing may pose a threat to established systems of intellectual property (IP) protection, resulting in a significant increase in the unlawful use of printed weapons and pharmaceuticals, which is projected to stymie market growth. Furthermore, the market is hampered by the high equipment costs required to achieve significant economies of scale. Besides, the market's standardized structure is hampered by the lack of an international standards body that regulates hardware manufacturers.
The most preferred technology has been discovered as selective laser sintering (SLS). Due to its several advantages over other technologies, it is predicted to grow at the fastest rate over the forecast period. As a replacement for the photosensitive resin used in stereolithography, SLS uses 12 powder nylon as a raw material. Companies and research organizations worldwide have been recognized as potential users of this material and technology to address issues such as the resin's brittleness when exposed to sunshine. Moreover, SLS is both cost and substance, as it does not require any post-printing support structures. Likewise, SLS delivers increased durability and can be used to create working parts or prototypes.
By End-User, Aerospace businesses are actively experimenting with 3D printing to produce various hardware components for their products. Boeing, for example, utilizes industrial 3D printing to create interior sections for its planes, while NASA uses it to create rocket engines and satellite parts. Additionally, this technology is projected to be widely adopted in the automotive industry. Many automotive manufacturers have prioritized rapid tooling along with additive manufacturing. Another important application of this technology in the vehicle industry is interior customization.
North America is likely to dominate the 3D printing hardware market, similar to how it has dominated technological adoption. The United States is the most advanced country in 3D printing, according to the 3D printing Sentiment Index done by Ultimaker, a desktop 3D printing business, in November 2019. Plenty of new product launches, as well as product improvements and developments, are projected to fuel market expansion. For a stronger market position, several 3D printing solution suppliers are extending their presence in the North American market. For example, at RAPID+TCT 2019, Roboze, an Italian 3D printer maker, debuted its high-temperature ROBOZE Xtreme line for the first time in North America. In North America, there have also been a vast array of new product launches, mergers, and acquisitions aimed at maximizing the potential of 3D printing. RAPLAS, for example, teamed with RP America in May 2019 to bring 3D printing technology to the North American market.
ExOne and Maxxwell Motors announced a collaboration in August 2021 to produce 3D printable copper windings. Maxxwell Motors will be able to apply a newly created unique copper e-winding design in their breakthrough axial flux electric motors for electric cars, heavy-duty vehicles, and industrial equipment as a result of this collaboration.
In May 2021, SLM Solutions announced a depowdering system cooperation with Solukon; this partnership enables SLM Solutions to use Solukon's flagship equipment for various post-processing parts created in additive manufacturing methods.
In September 2021, ExOne introduced their Industrial-Grade 3D Printed Solution line. This array includes the world's most comprehensive portfolio of 3D printed tooling solutions, including metal casting, composites laying up, plastic injection moulding or forming, and more.
The COVID-19 outbreak had a resilient effect on the 3D Printing Hardware market. As a result of the rapidly spreading pandemic, global industrial production dropped. It was demobilized, indicating a disturbance in the supply chain and improving financial market circumstances. Market participants worldwide were forced to cut their operational costs due to the crisis. Fewer operational expenditures limited market companies' investments in this technology in 2020, limiting the market's growth. However, according to research done by the 'Society of Manufacturing Engineers,' 25% of US businesses plan to modify their supply chains in reaction to the epidemic. They also favor investing in this technology over other technologies after COVID-19, according to the research. This indicates that manufacturers' increased investments in 3D technology would likely boost market growth in the next years. Furthermore, the Food and Drug Administration (FDA) signed an interagency agreement in March 2020 to support the use of new manufacturing technologies like 3D printing to combat the COVID-19 pandemic.
|Market size value in 2020||US$2.311 billion|
|Growth Rate||CAGR of during the forecast period|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Technology, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Stratasys Ltd., The Exone Company, Ultimaker BV, Xjet, HP, SLM Solutions Group, Sciaky, Protolabs Inc., Voxeljet AG, 3D Systems Corporation|
|Customization scope||Free report customization with purchase|
Frequently Asked Questions (FAQs)
Q1. What is the size of the global 3D printing hardware market?
A1. 3D Printing Hardware Market was valued at US$2.311 billion in 2020.
Q2. Who are the major players in the 3D printing hardware market?
A2. Prominent key market players in the 3D printing hardware market include Stratasys Ltd., The Exone Company, Ultimaker BV, Xjet, HP, SLM Solutions Group, and Sciaky, among others.
Q3. How is the global 3D printing hardware market segmented?
A3. The 3D printing hardware market has been segmented by technology, end-user, and geography.
Q4. What factors are anticipated to drive the 3D printing hardware market growth?
A4. The 3D printing hardware market growth is attributed to the significant growth of various industries, such as consumer electronics, healthcare, and automotive, among others.
Q5. Which region holds the largest market share in the 3D printing hardware market?
A5. North America is expected to dominate the 3D printing hardware market.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. 3D Printing Hardware Market Analysis, by Technology
5.2. Vat Photopolymerization
5.2.2. Digital Light Processing
5.2.3. Continuous Digital Light Processing
5.3. Metal Extrusion
5.4. Material Jetting
5.5. Binder Jetting
5.6. Direct Energy Deposition
5.7. Powder Bed Fusion
5.7.1. Metal Extrusion
5.7.2. Material Jetting
5.7.3. Binder Jetting
5.7.4. Direct Energy Deposition
5.7.5. Powder Bed Fusion
5.8. Sheet Lamination
6. 3D Printing Hardware Market Analysis, by End-User
6.4. Aerospace and Defence
7. 3D Printing Hardware Market Analysis, by Geography
7.2. North America
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Stratasys Ltd.
9.2. The Exone Company
9.3. Ultimaker BV
9.6. SLM Solutions Group
9.8. Protolabs Inc.
9.9. Voxeljet AG
9.10. 3D Systems Corporation
SLM Solutions Group
3D Systems Corporation
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