3D Printing Market Grow to Reach USD 34.5 billion by 2028, at a CAGR of 18.1% | Intuitive Surgical, DJI, Daifuku, iRobot, Samsung Electronics, JD.com Inc, DeLaval, Kongsberg Maritime

The 3D printing market is projected to reach from USD 15.0 billion in 2023 to USD 34.5 billion by 2028, at a CAGR of 18.1%. Some key factors attributing to the growth of 3D printers involve ease in developing customized products, reduction in manufacturing cost and process downtime, government investments in 3D printing projects, and development of new industrial-grade 3D printing materials.

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The recession's impact on the 3D printing market has been analyzed in this study. The short-term outlook for semiconductors and materials revenues is expected to be worse in the third quarter of 2023. Rising inflation, increasing interest rates, unemployment, and energy crises will lead to slow economic activity. As a result, end-user industries experience deterioration of their businesses, cash flow, and ability to obtain financing, delaying or canceling product purchase plans.

The 3D printing market has been experiencing tremendous growth in recent years, driven by advancements in technology, increased accessibility, and the growing demand for customized products. 3D printing, also known as additive manufacturing, is the process of creating three-dimensional objects from digital files by layering materials such as plastics, metals, and ceramics.

The market for 3D printing is expected to continue growing at a rapid pace due to the increasing demand from various industries such as aerospace, automotive, healthcare, and consumer goods. 3D printing technology is being used in these industries to create complex parts and components with high precision, which is not possible with traditional manufacturing methods.

The adoption of 3D printing technology is also being driven by its ability to reduce production costs, improve efficiency, and reduce waste. In addition, 3D printing is enabling the creation of products that were previously impossible or very difficult to produce using traditional manufacturing methods.

The report profiles key players in the 3D printing market with their respective market ranking analysis. Prominent players profiled in this report are Intuitive Surgical (US), DJI (China), Daifuku (Japan), iRobot (US), Samsung Electronics (South Korea), JD.com Inc. (China), DeLaval (Sweden), Kongsberg Maritime (Norway), and Northrop Grumman (US) among others. These companies are investing heavily in research and development to improve the capabilities of 3D printing technology and expand its range of applications.

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Overall, the 3D printing market is expected to continue growing rapidly as more industries adopt the technology and new applications are discovered. The market is also likely to become more competitive as new players enter the market and existing players continue to innovate.

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