Westford, USA, Aug. 08, 2022 (GLOBE NEWSWIRE) — 3D printing is quickly becoming one of the most popular technologies in the world. It has been used to create everything from bodily prostheses and surgical implants to custom eyewear and airplane parts. The applications of 3D printing will only multiply in the future. Indeed, 3D printing is able to create complex objects very quickly and with great precision.
One of the biggest advantages of 3D printing market is that it can be used to create custom objects quickly and relatively inexpensively. This means it can be used in a variety of different industries including manufacturing, construction and medical research.
10 million 3D printers will be sold by 2030
While it’s impossible to predict with complete accuracy the exact number of 3D printers for sale by 2030, SkyQuest’s analysis predicts that 3D printer sales will continue to grow at a healthy CAGR of 20.38 %. In 2015, global sales of 3D printers reached around 0.8 million, and in 2019 this figure increased by 1.5 million and is expected to surpass the 10 million mark by 2030.
One of the key factors driving sales growth in the 3D printing market is the falling cost of these devices. In 2014, the average price of a consumer 3D printer was around $1,000. Just two years later, in 2016, the average price of low-cost 3D printers fell to less than $400. This lower price makes 3D printers more affordable for a wider range of consumers and businesses, helping to drive sales growth. On the other hand, the cost of industrial and professional 3D printers has come down to around $10,000 and $5,000 respectively, which was over $20,000 in 2015.
The demand for 3D printing is expected to grow in the coming years as the costs and technological developments of the technology decrease. This is especially true for medical applications, which are expected to account for a significant portion of future growth.
3D printing has already revolutionized manufacturing processes, and it is expected to do even more in the future. The technology can be used to produce custom products, which is why it is often used to create medical devices.
The advantages of 3D printing over other manufacturing processes include the ability to produce multiple copies of a product with minimal errors. Additionally, 3D printing is faster than other methods and does not require specialized equipment. This makes it suitable for small businesses and manufacturing companies that need fast turnaround times on products.
SkyQuest has released a report on the 3D printing market which primarily focuses on the demand and sales of 3D printers by application and end-use industry. The report also provides a detailed overview of the number of units sold in each industry and their top buyers by region. This would help the market participant to identify market opportunities and target their potential consumers in the global 3D Printing Market. For detailed market analysis, price analysis, value chain and supply chain optimization and forecast,
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The automotive industry generates 27% of sales in the global 3D printing market
The automotive industry generates a significant share of the global 3D printing market. According to SkyQuest Technology, the automotive industry generated 27% of sales in the global 3D printing market in 2021 and is expected to continue growing its market share at a CAGR of around 22.3% in the coming years. as the field of application develops. In 2021, the automotive industry generated market revenue of $2.3 billion and is expected to reach a market value of $11.87 billion by 2028.
A number of factors are contributing to the growth of the automotive industry and 3D printing is one of them. Automakers are increasingly turning to 3D printing technology for a variety of reasons. Some of the reasons include replacing parts with custom parts, making prototypes faster and more cost-effectively, and creating models for Toyota’s Arcturus concept cars.
3D printing has also revolutionized the design process for automakers. Instead of creating a model using 2D drawings, car manufacturers now use 3D prints to create accurate models that can be used for engineering and manufacturing purposes.
This report by SkyQuest on the global 3D printing market provides an overview of trends and projections for the 3D printing market in the automotive industry. It provides insight into how this technology is changing the way automakers work and helps identify future opportunities.
Healthcare holds 20% of the global 3D printing market
According to SkyQuest analysis, healthcare is expected to generate $5.8 billion in revenue by 2030. With rapidly changing market dynamics in the global healthcare market and advanced applications of 3D printing in healthcare, the market is expected to grow at a CAGR of around 20.9% through 2030.
While the healthcare industry only holds 20% of the global 3D printing market, it is clear that this technology is having a profound impact on the way medical care is delivered. In particular, 3D printing is used to create custom prostheses and implants, as well as to produce models of organs and body parts for surgical planning. Additionally, 3D-printed pharmaceuticals are beginning to enter the market, providing patients with personalized drug dosing based on their specific needs.
Medical implants and tissue engineering are booming industries that are seeing increasing demand from patients around the world. One of the reasons for this increased demand is the advancement in 3D printing technology.
3D printing has revolutionized the manufacturing process for medical devices, and it is now more common than ever to find devices printed using 3D printers. This is partly because 3D printing is both cost effective and accurate. Worldwide, more than 30 million medical implants are made. In this case, the United States is the largest country and has a higher market share. For example, each year, the country witnesses more than one million implants for hip and knee replacement. On the other hand more than 3 million dental implants take place every year. This represents a huge opportunity and potential for the 3D printing market for the production of medical implants. According to SkyQuest analysis, the global market is flooded with at least 2 million types of medical devices, which is considerably huge.
In addition to medical devices, 3D printing is also used to create tissues and organs for medical use. These tissues and organs can help improve the quality of life for patients who have lost their own tissues or organs due to injury or disease. In recent years, the global 3D printing market has seen a significant increase in demand for cosmetic and plastic surgeries. For example, in 2021, over 1.4 million surgical and non-surgical procedures were performed and this number is expected to increase at a CAGR of over 15.8% in the coming years. As the number of procedures increases, it provides a lucrative opportunity for market players as the demand for custom fabrics is gaining considerable attention.
SkyQuest Technology has identified the underlying market opportunities in the global 3D printing market by application and prepared a report which responds to market developments, where is the demand coming from, what are the market trends, which country and region have the most potential consumers, what the government policies are, and how end users react in the market. The report also focuses on the number of active players in the market, their market share, competitive landscape and growth strategies. This comprehensive report would help you identify the most potential growth opportunities that competitors have missed and provide deeper insights into market performance across the globe. For detailed market analysis,
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Recent developments in the 3D printing market
- Researchers from Rutgers University and the University of Louisville have developed a FFF (Fused Filament Fabrication) system capable of using multiple nozzles to quickly 3D print different areas of the same part on a single gantry. 3D printer is double the speed of standard FFF
- In July 2022, a state-of-the-art 3D printing facility is opened in Bangalore, India
- In March 2022, South Africa’s Department of Science and Innovation (DSI) launched a pilot project to use 3D printing technology to build around 25 houses in a bid to address the housing shortage in this country.
- In March 2022, the INDUSTRY F421 industrial FFF machine was introduced by 3DGence, a European company, and is suitable for high-performance materials. The company also launched AS9100, an all-new high-temperature filament approved for use in the aerospace and defense industries and produced from polyether ether ketone (PEEK).
- In February 2022, Imaginarium partnered with Ultimaker to introduce a range of desktop and industrial 3D printers to the Indian market. In India, where additive manufacturing is expected to make significant progress in the coming years, this alliance will help Ultimaker to develop its activities there.
- In May 2021, GE Additive partnered with Protolabs and fashion designer Zac Posen to build four dresses and a headpiece to show off at the Met Gala. Electron beam fusion (EBM), multi-jet fusion (MJF) and stereolithography (SLA) technology were used on all items to meet wearable design requirements.
Key players in the global 3D printing market
- 3D Systems Corporation (USA)
- ExOne (Germany)
- voxeljet AG (Germany)
- Materialize SA (Belgium)
- Made in Space, Inc. (USA)
- Envisiontec, Inc. (Germany)
- Stratasys Ltd. (United States)
- HP, Inc. (USA)
- General Electric Company (GE Additive) (USA)
- Autodesk Inc. (US)
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