Industrial 3D Printing Market Growth Factors, Segmentation, Trends, Opportunities, Key Players and Forecast | Evolve Business Intelligence

Key Highlights:
• The global Industrial 3D Printing Market size was valued at USD 11.78billion in 2022 growing at a CAGR of 21.1% from 2023 to 2033.
• North America dominated the market in 2022
• Asia Pacific is expected to grow at the highest CAGR from 2023 to 2033

As per the study initiated by Evolve Business Intelligence, the global Industrial 3D Printing Market size accounted for USD 11.78Billion in 2022, growing at a CAGR of 21.1% from 2023 to 2033. The industrial 3D printing market refers to the commercial use of additive manufacturing technologies for the production of end-use parts and components in various industries. Industrial 3D printing, also known as additive manufacturing, involves the layer-by-layer construction of three-dimensional objects using materials such as plastics, metals, ceramics, and composites. Unlike traditional manufacturing methods that often involve subtractive processes, where material is removed to create the final product, 3D printing adds material layer by layer, allowing for greater design flexibility and complexity.

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The industrial 3D printing market is poised for significant growth, driven by its ability to revolutionize manufacturing processes, enhance product design, and enable mass customization. As 3D printing technologies continue to mature and gain wider adoption, their impact on various industries is expected to be transformative.

Key Players
Some of the major Industrial 3D Printing Market players holding high market shares include Stratasys, 3D Systems, EOS GmbH, GE Additive and Materialise. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders. Some of the other major market players include Autodesk Inc., HOGANAS AB, protolabs, arcam ab, Optomec Inc., Materialise and voxeljet ag.

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Segmental Analysis
Based on Components, the Industrial 3D Printing Market is segmented into hardware, materials, software, and services. The hardware segment is considered to be the most significant contributor to revenue. The hardware segment encompasses a variety of 3D printing machines, including metal 3D printers, polymers/ceramics 3D printers, and 3D bioprinters. These machines are utilized across numerous industries and applications, and their importance in the additive manufacturing process cannot be overstated.
Based on Vertical, the Industrial 3D Printing Market is segmented into aerospace, automotive, consumer products, medical & dental, education, railway, art and fashion, government, construction. The automotive sector is anticipated to record a healthy growth over the next five years. The demand for electric vehicles as a counter to pollution amid environmental concerns, plus tightened production cycles, has led to a need for the design process to be speeded up while costs are cut. However, regulatory issues around widespread use of 3D printing remains a concern. That said, there is significant usage of 3D printing now underway in the automotive sector and a desire to track 3D printing progress closely.

Key Region/ Countries Covered
• North America (US, Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Spain, Russia, Nordic Countries, BeNeLux, Rest of Europe)
• Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA)
• Latin America (Mexico, Brazil, Argentina, Rest of Latin America)

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