3D Printing Services Market Size, Share, Growth, and Industry Growth by Material (3D Printed Metal, 3D Printed Plastic, and 3D Printed Ceramic, and others) By Application (Electronics, Architecture and Designing, Aerospace and Defense, Medical and Healthcare, Automobile, Education, and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

3D Printing Services Market REPORT OVERVIEW

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The global 3D printing services market size was USD 6173.7 million in 2022 and market is projected to touch USD 38922.3 million by 2031, exhibiting a compound annual growth rate (CAGR) of 22.7% during the forecast period.

3D printing technique includes the deposition of successive layers of material such as metal or plastic to create solid 3D objects from a digital model.

The key factors which are estimated to fuel market progress are increased government investments in 3D printing projects, ease in development of customized products, rise in work floor productivity, and reduced manufacturing cost and downtime. The technique has several advantages and considers better than traditional manufacturing processes. Growing awareness about the benefits of the product, such as rapid prototyping, design flexibility, minimal wastage, print-on-demand, time saving, and cost effective. These factors are estimated to fuel market growth in the forthcoming years. Growing demand for printing in the healthcare sector for implants, surgical process, and prosthetics are anticipated to surge market growth. On the contrary, high initial investment in software and hardware materials are expected to hamper the market growth.

COVID-19 Impact: Halt in Production Activities and Disrupted Supply Chain to Hamper Market Growth

The outbreak of the COVID-19 pandemic disrupted the supply chain and caused a diverse impact on the market. Lockdown restrictions and strict government regulations halted production activities. Closure of end-user sectors such as automotive, energy & power, consumer electronics, construction, and oil & gas to reduce market progress. Limitation on import and export activities to facilitate market progress.

On the contrary, the demand for the equipment flourishes due to an exceptional spike in personal protective equipment such as shields, face masks, and ear straps.  

LATEST TRENDS

"High Demand from Healthcare Sector to Foster Market Growth "

3D printing is extensively used in the healthcare sector. The product is used in implants, surgical equipment, prosthetics, and tissue engineering products. Such broad application of the product in the healthcare sector is anticipated to propel market growth. Also, the product used in dental, orthopedic, and craniomaxillofacial applications is projected to fuel market growth. Further, rapid development in the healthcare sector coupled with improved technologies is estimated to foster market growth. Financial support from the governments and increased product development at low cost is predicted to surge 3D printing services market growth over the forecast period.

3D Printing Services Market SEGMENTATION

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• By Type

Based on type, the market is divided into 3D printed metal, 3D printed plastic, and 3D printed ceramic, and others.

3D printed metal is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into aerospace and defense, medical and healthcare, automobile, electronics, architecture and designing, education, and others.

Medical and healthcare are expected to be the leading part of application segmentation.

DRIVING FACTORS

"Growing Digital Evolution and Substantial Investments of Governments to Fuel Market Growth "

Increasing digital evolution coupled with substantial investments of governments is estimated to propel market growth. Massive digital disruptions and accelerated software giants such as HP, Microsoft, and Autodesk are estimated to fuel market growth in the upcoming years. The key factors which are assessed to fuel market progress are increased government investments in 3D printing projects, ease in development of customized products, rise in work floor productivity, and reduced manufacturing cost and downtime. The product can be used for professional, personal, and production purposes. These features of the product are estimated to foster the market growth in the upcoming years. The technique has several advantages and considers better than traditional manufacturing processes are predicted to drive 3D printing services market growth.

"Several Advantages of the Product and Growing Demand from the Automotive Sector to Propel Market Progress"

Growing awareness about the advantages of the product, such as rapid prototyping, design flexibility, minimal wastage, print-on-demand, time-saving and cost-effective. These factors are estimated to fuel market growth in the forthcoming years. The product is capable of printing complex and simple objects in large to small sizes is anticipated to drive market growth. Further, high demand for better, newer performing vehicles and development in the automotive sector is predicted to fuel market growth in the forthcoming years. Also, in the automotive sector, high demand for prototyping applications is projected to foster 3D printing services market growth.

RESTRAINING FACTORS 

"The high initial investment to Hamper Market Growth "

A high initial investment in software and hardware materials is expected to hamper3D printing services market growth.

3D Printing Services Market REGIONAL INSIGHTS

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"Presence of Additive Manufacturing Companies to Drive Market Share "

North America is estimated to account for the highest 3D printing services market share owing to presence of additive manufacturing companies. Also, in the region high demand for the product in the healthcare sector. Growing R&D activities coupled with development in product efficiency. The presence of several market players and manufacturing companies provides an opportunity for the market growth over the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• VoxelJet AG (Germany)
• GE (Arcam Group)(U.S.)
• Sculpteo (France)
• 3D Systems (U.S.)
• Stratasys (U.S.)
• Proto Labs (U.S.)
• FORECAST 3D (HP) (U.S.)
• ExOne (U.S.)
• 3D Hubs (Netherlands)
• EOS (Germany)
• Materialise (Belgium)
• 3 Space (U.K.)
• Hoganas (India)
• Organovo Holdings (U.S.)
• Ponoko (U.S.)
• Shapeways (U.S.)
• WhiteClouds (U.S.)
• Wenext (China)
• BLT (China)
• SHANGHAI JINGXIN TECHNOLOGY (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.