Industrial 3D Printing Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Hardware, Software, Services), By Technology (Stereolithography, Fused Deposition Modelling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Laser Metal Deposition, Others), By End-User (Healthcare, Automotive, Aerospace And Defense, Construction, Others), And By Geography - Forecasts From 2022 To 2027

The industrial 3D printing market is expected to grow at a CAGR of 28.19% from an initial value of US$1.448 billion in 2021 to US$8.240 billion in 2028.

Manufacturing products using 3D printing, also referred to as additive printing, is a technique that represents numerous opportunities for the creation, design, and application of new architectural forms, building systems, and materials. The technique is a fresh, quick, and agile approach to product creation and manufacturing.

Drivers:

The increasing adoption of industrial 3D printing technology can be witnessed due to the growing industrial sector across the globe as well.

According to the Indian Economic Survey 2022-23, the statistics for the first half of FY23, the industrial sector's overall Gross Value Added (GVA) increased to 3.7%, surpassing the 2.8% average growth witnessed in H1 of the previous ten years.

The use of technology has grown as a result of the declining costs of machines based on 3D printing as well as increasing expertise and awareness. The development of newer and more complex fused deposition modeling techniques has boosted the widespread adoption of this technology across numerous sectors in recent years. Furthermore, 3D printing technology has become the most effective means to develop lightweight components, which saves considerable amounts of fuel. For example, the Pro VC70000e is the most recent version of the Pro VC70000 line, and it offers numerous improvements to print quality and efficiency, including RICOH Supervisor's business intelligence features as well as the advantages of artificial intelligence (AI) and machine learning (ML).

Favorable government initiatives to promote the adoption of 3D printing has also paved the way for the market growth of industrial 3D printing. For instance, in February 2022, the Minister of IT along with Union IT Minister launched a national strategy to promote collaboration between government and industrial sectors to boost 3D printing in industrial operations thereby making India a hub for deployment and development of 3D printing.

Key Developments

• In March 2022, three freshly developed industrial-grade inkjet printers termed RICOH MH5422, RICOH MH5442, and RICOH MH5422 Type A, were officially released by Ricoh Company, Ltd. to be utilized as essential elements of digital printing systems. The new products utilize Ricoh's high-precision technology to deliver excellent image quality and productivity. Better nozzle surface abrasion resistance and a wide ink compatibility range provide them with greater durability. By using separate cables and high-precision surface alignment features, Ricoh has additionally improved system compatibility.
• In January 2022, Sulzer, a Swiss-based company that specializes in providing industrial equipment, services, and solutions in various industries such as oil and gas, power, water, and general industry, inaugurated a new laser metal deposition (LMD) facility at its Houston Service Center in La Porte, Texas. The innovative additive manufacturing process delivers several benefits to the company's turbomachinery repair and upgrade projects. Sulzer's HICoat Division provides LMD services for a diverse range of materials. With the inclusion of this LMD center into their Houston Service Center, Sulzer was able to elevate the quality of their services and expedite lead times.
• Bharat Fritz Werner (BFW), an Indian machine tool manufacturer, announced the launch of the PHOTON 4000G, one of the world's largest and fastest multi-technology laser directed energy deposition machines in April 2022. The PHOTON 4000G is designed for use in industries such as aerospace, defense, nuclear, and power generation. The PHOTON 4000G uses a range of materials, including metals, alloys, and composites, and offers a range of deposition technologies, including wire arc, powder feed, and blown powder.

By technology, Stereolithography and FDM are expected to hold significant shares.

The industrial 3D printing market is segmented into stereolithography, fused deposition modelling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, laser metal deposition and others, based on technology. Stereolithography uses a UV laser to cure liquid resin layer by layer to create a 3D object. It is commonly used in the dental, medical, and automotive industries. Laser metal deposition (LMD) is an industrial 3D printing technology that uses a high-powered laser to melt and fuse metal powder onto an existing surface to create a 3D object. This technology is commonly used for repairing and manufacturing metal parts, particularly in industries such as aerospace, automotive, and medical.

Asia Pacific is projected to constitute a significant market share.

The regional market is expected to grow due to the growing product development & launches of industrial-grade 3D printers coupled with the favorable government initiatives to promote 3D printing in industrial sectors. The bolstering growth in major end users such as the automotive sector has also provided further growth opportunities. Countries like India is experiencing a significant increase in its industrial productivity with major sectors such as automotive and manufacturing showing significant growth owing to the favorable investments establishment of manufacturing facilities and the surge in end-user demand. For instance, according to the data provided by the International Organization of Motor Vehicle Manufacturers, India’s automotive production in 2022 stood at 5.45 million units which represented a significant increase of 24% over 2021’s production volume. 3D printing is used for automotive parts manufacturing and with growing automotive production the demand for such technology to improve parts quality is also expected to increase.

Segmentation:

• BY COMPONENT
  • Hardware
  • Software
  • Services
• BY TECHNOLOGY
  • Stereolithography
  • Fused Deposition Modelling
  • Selective Laser Sintering
  • Direct Metal Laser Sintering
  • Polyjet Printing
  • Inkjet Printing
  • Laser Metal Deposition
  • Others
• BY GEOGRAPHY
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Others
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

Industrial 3D Printing Market Scope:

MARKET SEGMENTATION

• BY COMPONENT
  • Hardware
  • Software
  • Services
• BY TECHNOLOGY
  • Stereolithography
  • Fused Deposition Modelling
  • Selective Laser Sintering
  • Direct Metal Laser Sintering
  • Polyjet Printing
  • Inkjet Printing
  • Laser Metal Deposition
  • Others
• BY GEOGRAPHY
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • Uk
    • Italy
    • Others
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others

Frequently Asked Questions (FAQs)

Q1. What will be the industrial 3D printing market size by 2026?
A1. The industrial 3D printing market is projected to reach a market size of US$4.023 billion by 2026.

Q2. What is the size of the global industrial 3D printing market?
A2. Industrial 3D Printing Market was valued at US$1.369 billion in 2019.

Q3. What are the growth prospects for the industrial 3D printing market?
A3. The global industrial 3D printing market is projected to grow at a CAGR of 16.64% during the forecast period.

Q4. What factors are anticipated to drive the industrial 3D printing market growth?
A4. The increasing use of industrial 3D printing during the manufacturing of parts in end-use industries like automotive and aerospace is one of the major reasons projected to drive the industrial 3D printing market growth.

Q5. Which region holds the maximum market share of the industrial 3D printing market?
A5. Geographically, the North American region is anticipated to hold a significant share of the industrial 3D printing market owing to the presence of an advanced healthcare sector.