The worldwide 3D printing market is anticipated to achieve a valuation of nearly US$ 27.7 billion by 2023. The sector is expected to continue developing at an impressive CAGR of 21% from 2023 to 2033, thus estimating the 3D printing industry to be worth approximately US$ 186.4 billion by the closure of 2033.
As per reports by FMI, the market is predicted to expand at a robust pace, driven both by active three-dimensional printing R&D, and the increasing inclination towards prototype applications from various industrial sectors.
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Like any other contemporary technology, 3D prints didn’t sell much during their early years because of their premium pricing. However, in 2014, the global 3D printing market reported sales of over US$2 billion. Interestingly, not all of these sales were powered by large public companies. The technology found increasing usage in the entertainment and media industry. It was predicted that current transportation companies, and component manufacturers would face significant near-term disruptions due to the trends in the 3D printing market.
Key Takeaways from the 3D Printing Market Report:
Leading Key Players:
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More Insights into the 3D Printing Market
The European market is expected to emerge as the second largest regional 3D printing market, accounting for an overall market share of 28.5%.
North America dominated the global 3D printing market and generated over 35% of worldwide revenue in 2022. Industries in the U.S. and Canada are increasingly adopting additive manufacturing, contributing to the growth of the 3D printing market.
Regarding geographical segmentation, the U.S. 3D printing market is the leading region. Due to the presence of numerous industry participants in additive manufacturing with sophisticated technical knowledge, the net worth of the 3D printing market size is estimated to be around US$ 5.76 Billion in the United States.
With a compounded annual growth rate (CAGR) of 21.63% expected for the Asia Pacific region over the forecast period, it is expected to be the fastest growing amongst all geographical regions.
The FMI analysis reveals that the Asia Pacific region splits further into East Asia and South Asia geographical regions, boasting a net value of US$ 3.7 billion and US$ 2.2 Billion respectively for 2022. 3D printing has found rapid adoption in Asia Pacific countries due to the significant advancements in the industrial sector.
3D Printing Market Segmentation:
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