The personal 3D printers market is expected to grow at a compound annual growth rate of 16.27% over the forecast period to reach a market size of US$3.717 billion in 2027 from US$1.294 billion in 2020.
Manufacturing complex designs is now a possible thing, thanks to 3D printing techniques. Customers are provided with customized and personalized products as a result of 3D printing. It may not, however, be able to completely replace traditional assembly line processes. Consumers can create customized toys, shoes, ornamental items, jewelry, and more, providing manufacturers the ability to produce items according to their specifications. 3D printers provide a platform for creation as well as the freedom to manufacture and create objects precisely to user specifications.
High demand for 3D printing in the dental sector, the government’s attempts to adopt 3D printing technology, and the capacity to create customized items are some of the major reasons driving the growth of the personal 3D printers market. The rise in the popularity of tooth diseases is leading to an increase in tooth replacement surgeries, as well as an increase in the older population and a surge in demand for bespoke dental 3D printing solutions, all of which are driving demand for 3D printers around the world.
Additionally, increasing collaborations among major industry players and increased consumer awareness are expected to aid the personal 3D printers’ market growth. Furthermore, 3D printing technology is widely employed in a variety of industries around the world since it reduces manufacturing costs and allows for the mass production of industrial items. Several countries' governments are taking steps to encourage the use of 3D printing in various industries.
However, the high cost of the printers as well as the materials used in them, along with the threat of copyright infringement, is expected to impede this market growth.
The popularity of print-on-demand parts for the creation of customized functional parts has accelerated due to the availability of materials and developments in 3D printing technologies. 3D printing allows for creating bespoke products that are tailored to the individual's demands and specifications. The businesses offer customized services, such as fundamental design creation by designers, followed by the opportunity for customers to participate in the product design process. The easy creation of custom-made objects is made possible by ongoing technological breakthroughs in existing 3D printing technologies, lower printer costs, and the availability of a variety of materials.
Traditional manufacturing procedures have a wider choice of raw materials than 3D printing processes. Because of the high material prices, product manufacturing with 3D printing technology is a costly process, which is a key market limitation. The materials that can be employed are currently limited, despite the fact that the technique is a significant process innovation. Furthermore, due to a lack of suitable regulations governing the mechanical qualities of the materials employed, the accuracy and reproducibility of goods created by 3D printing are limited.
The COVID-19 outbreak has wreaked havoc on the ecosystem's supply networks. When it comes to the 3D printing market, the pandemic has had a wide range of effects on industries such as healthcare, automotive, aerospace, consumer electronics, retail, energy and power, oil and gas, construction, jewelry, food and culinary, and education, to name a few. During the pandemic, the demand for personal protective equipment such as face masks, shields, and ear bands grew dramatically, resulting in significant growth in the healthcare business. In addition, the need for venturi valves and regulators that help patients breathe has risen. Apart from that, e-commerce has thrived due to regional restrictions and logistical constraints. Manufacturers of 3D printers may print and deliver things directly, giving them complete control over the materials used, storage conditions, and distribution.
The increasing demand for Personal 3D printers has led to the entry of several new market players in the personal 3D printers market. The entry of these new players in a market where traditional players like Stratasys Ltd., 3D Systems, Inc., and General Electric already exist is expected to lead to further innovation in the personal 3D printers market. Moreover, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which are expected to keep the market competitive and constantly evolving.
|Market size value in 2020||US$1.294 billion|
|Market size value in 2027||US$3.717 billion|
|Growth Rate||CAGR of 16.27% from 2020 to 2027|
|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., 3D Systems, Inc., Dell, Robo 3D Limited, Sindoh Co. Ltd, Prusa Research s.r.o, Zortrax, The Exone Company, Prodways Group, EnvisionTEC|
|Customization scope||Free report customization with purchase|
3D Systems, Inc.
Robo 3D Limited
Sindoh Co. Ltd
Prusa Research s.r.o
The Exone Company
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