Industrial 3D Printing Market to Reach USD 14.8 Billion by 2031 Owing to Surging Demand for Lightweight and Complex Components | Research by SNS Insider

The Industrial 3D Printing Market is growing mainly because of the upsurge in demand for effective and customized manufacturing solutions

Pune, July 03, 2024 (GLOBE NEWSWIRE) — The Industrial 3D Printing Market Size was valued at USD 3.6 Billion in 2023 and is expected to reach USD 14.8 Billion by 2031, over the forecast period.

The need for continuous prototyping and the requirement to produce lightweight, durable parts are key drivers of the market. The introduction of digital transformation in manufacturing and the growing use of advanced materials creates opportunities for the growth of the market as well. In 2023, GE Additive launched a new high-speed metal 3D printer example for production and cost benefits.

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The market for industrial-grade level has many chances to grow, dominated foremost by technological advancements along with the growth in demand for customized goods. The increasing trend of digital manufacturing and the incorporation of AI & IoT for the 3D printing process is anticipated to contribute to the growth in this segment at a bigger pace. Increased demand for custom implants and prosthetics being manufactured through 3D printing in the healthcare industry is one of the major driving factors.

Key Players Listed in the Report:

  • Stratasys
  • Materialise
  • Protolabs
  • Nano Dimension
  • 3D Systems
  • ExOne
  • HP
  • CleenGreen3D
  • Metal
  • Carbon
  • Markforged
  • GE Additive
  • Voxeljet
  • SLM Solutions
  • Optomec
  • Covestro
  • EOS
  • Renishaw
  • Ultimaker

Segment Analysis

Based on Type, Powder bed fusion is the most used type of technology for producing small and accurate metal components. PBF has chance of high growth in terms of its application to the lightweight, high-strength components common in aircraft, satellites, and rockets. E.g.: Engine nozzles, Heat exchangers, and Structural components. These materials are employed in PBF (powder bed fusion) applications for producing complex custom prosthetics, implants, and surgical devices to score minute details. Example: Dental, Cranial, and Custom Orthopaedic Components.

Based on application, prototyping exhibits a substantial market share attributed to the capability offered by 3D printing in creating rapid prototypes for validating design changes at low cost. 3D printing enables designers and engineers to produce prototypes, a quick physical representation of their designs directly from the digital CAD files. Prototypes using 3D printing done with advanced technologies, can be made from materials mimicking the actual material and properties of is intended to accomplish.

Industrial 3D Printing Market Report Scope & Overview

Report Attributes Details
Market Size in 2023 USD 3.6 billion
Market Size in 2031 USD 14.8 billion
CAGR (2024-2031) 19%
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Market Driver
  • Growing focus on High-Volume manufacturing using 3D printing technology.
  • 3D printing facilitates the creation of customized products without significant cost increases. This caters to the growing demand for personalized experiences

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Regional Development

North America gains a significant traction in the industrial 3D printing market across the forecast period of 2024-2031. In addition to all this, the presence of multiple well-established industrial solution providers is boosting sales across developed regional markets. 3D printing is preferred by many key industries to create new products through unique materials’ blends, shapes, and structures therefore reducing cost for manufacturing low volume; fast production with less material wastage. Aerospace & defense, followed by the automotive industry are considered as one of the most popular 3D printing industries in this region. Both rising demand within the aerospace industry for power and durable lightweight means of using the metal, as well as protection concerns based on electric vehicle efficiency, has likely made 3D-printed metals even more appealing. The North American 3D industrial printing market is driven by increasing demand for high-performance materials, higher adoption, and strong production of additive manufacturing-based products as well as parts that are being produced through technologies such as 3D printers.

Future Growth

The Industrial 3D Printing Market is poised for good future growth with such technological and material advancement. AI and machine learning applications in 3D printing processes are anticipated to improve productivity levels as well as accuracy. The need for higher cost-effective manufacturing solutions is likely to add growth prospects in the 3D printing technology market, which helps proliferate its demand on a global front. The introduction of novel applications in the healthcare sector is expected to drive new growth opportunities for the market.

Recent Developments

  • In March 2023, GE Additive launched a new high-speed metal 3D printer to improve production capabilities.
  • In May 2023, Stratasys Ltd. released a new series of composite 3D printers for the aerospace and automotive industries for a faster functional result.
  • In June 2023, Materialise NV partnered with a major car manufacturer to create tailor-made parts via 3D Print.

Key Takeaways

  • The report conducts deep research into critical aspects of the market, including competition landscape and company profiling.
  • Provides knowledge of key players and their recent developments thereby keeping clients ahead of the competition
  • Future growth estimates have been provided in the report for stakeholders to make long-term plans and investment decisions.
  • Provides one of the examples presence on personalized 3D printing signifying individualized products in accordance with particular requirements.

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Table of Contents – Major Key Points

1. Introduction

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

5. Porter’s 5 Forces Model

6. Pest Analysis

7. Industrial 3D Printing Market Segmentation, By Offering

8. Industrial 3D Printing Market Segmentation, By Process

9. Industrial 3D Printing Market Segmentation, By Technology

10. Industrial 3D Printing Market Segmentation, By Application

11. Industrial 3D Printing Market Segmentation, By Industry

12. Regional Analysis

13. Company Profiles

14. Competitive Landscape

15. Use Case and Best Practices

16. Conclusion

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