3D printer Market Size is Projected to be Around $ 14.49 Billion by 2024 - Technavio | Featuring Key Vendors - 3D Systems Corp., EOS GmbH Electro Optical Systems, Formlabs Inc., and Others
NEW YORK, March 4, 2021 /PRNewswire/ -- The "3D printer Market by Product, Technology, and Geography - Forecast and Analysis 2020-2024" report has been added to Technavio's offering.
The 3D printer market is expected to grow by USD 14.49 billion, progressing at a CAGR of over 39% during the forecast period. Get Free Sample Report in MINUTES
The demand for 3D customized products is one of the major factors propelling market growth. However, factors such as high cost of training the workforce will hamper the market growth.
What our reports offer:
3D printer Market: Technology Landscape
Fused deposition modeling (FDM) technology is user-friendly and uses filaments such as acrylonitrile butadiene styrene (ABS) and polylactic acid (PLA) plastics, which cost much lower than materials used in selective laser sintering (SLS) and stereolithography (SLA) technology. These factors are expected to boost the demand for FDM-based 3D printers, especially from the automotive, aerospace, and consumer electronics sectors. Market growth in this segment will be faster than the growth of the market in the SLS and SLA segments.
3D printer Market: Geographic Landscape
North America was the largest market for 3D printers in 2019, and the region will continue to offer the maximum growth opportunities to market vendors during the forecast period. Factors such as the increasing government investments and growing demand for 3D printers from the aerospace and defense, consumer electronics, and healthcare sectors are fueling 3D printer market growth in this region. Over 34% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for 3D printers in North America. Market growth in this region will be faster than the growth of the market in MEA and South America.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Key Topics Covered:
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Technology
Drivers, Challenges, and Trends
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