3D Printing Market: Size, Growth, Regional Analysis, And Market Analysis

 3D Printing:

A three-dimensional object from a CAD model or a digital 3D model is known as 3D printing or additive manufacturing. 3D printing can refer to a range of methods in which material is deposited, connected, or solidified under computer control to build a three-dimensional object, often layer by layer, with material (such as plastics, liquids, or powder grains) being placed together.


Market Growth:

The global 3D Printing Market was worth USD 13.78 billion in 2020, and it is predicted to increase at a 21.0 per cent compound annual growth rate (CAGR) from 2021 to 2028. In 2020, 2.1 million 3D printers were shipped worldwide, with 15.3 million units predicted to be shipped by 2028. 


The COVID-19 epidemic has had a tremendous influence on the world economy and, as a result, the 3D Printing Market. In the beginning, Europe and the Asia Pacific were among the worst-affected regions in terms of COVID-19 patients worldwide. Furthermore, the situation in the United States deteriorated. The governments issued an order for the complete closure of some key cities due to the virus's rapid spread. Manufacturers of 3D printers were affected by the complete lockdown. This is due to a workforce shortage and a full breakdown of the country's logistics and supply chain. The suspension of 3D printing output stifles total market growth in the first and second quarters of 2020.


Regional Analysis:

In 2020, the North American segment dominated the 3D Printing Market, accounting for more than 35% of worldwide sales. The global 3DP market has been divided into five regions: North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Because of the widespread use of additive manufacturing in the region, North America led the market. In addition, countries in North America, such as the United States and Canada, have been using early 3D printing technologies in various production processes.


In terms of geographical footprint, Europe, on the other hand, is the greatest region. It is home to several additive manufacturing industry players with extensive technical knowledge of the processes. As a result, the European regional market is the second largest. In addition, the Asia Pacific area is becoming a manufacturing hub for the automobile and healthcare industries. Furthermore, a dominance of consumer electronics manufacture and increased urbanisation is driving up demand for three-dimensional printing in the region.


Key Players:

Arcam AB, Autodesk, Inc., Stratasys Ltd., The ExOne Company, Hoganas AB, Optomec, Inc., Organovo Holdings, Inc., Ponoko Limited, and Voxeljet AG are the major key players in the 3D Printing Market.

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