Metal 3D Printing Industry Overview
The global metal 3D printing market size was valued at USD 3.52 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 23.9% from 2022 to 2030.
Metal 3D printing is one such market that has benefitted significantly from the growing necessity of rapid prototyping and advanced manufacturing practices. The industry is poised to witness unprecedented growth over the forecast period owing to the rising application of additive manufacturing in various industry verticals. The global industrial printer market is increasingly advancing towards consolidation to stay ahead of the competition. A substantial growth factor for this market is increasing innovation, which is leading to several benefits through the adoption of metal 3D printing across heavy industry applications.
Increasing adoption of metal 3D printers for the designing and prototyping of products and objects, coupled with the reduced manufacturing expenditure and accuracy in the end product, is a key market proliferating factor. The market is poised to witness high demand arising prominently from the healthcare, automotive, aerospace and defense sectors. Growing advancements in the healthcare sector to curb physical disabilities and ensure healthy living are influencing the sector to flourish and adopt new innovative methodologies, such as 3D printing. Additionally, the automotive and aerospace sectors, where prototyping and designing play a vital role in research development to achieve perfection in their production are leading towards greater opportunities and increasing the adoption of the 3D printing process.
Gather more insights about the market drivers, restraints and growth of the Global Metal 3D Printing Market
However, the prevailing misconceptions with respect to the prototyping processes held by the small and medium-scale manufacturers are hindering the adoption of additive manufacturing. Companies involved in designing, particularly small-scale and medium-scale enterprises, are deliberating before considering investments in prototyping as accountable investments rather than trying to understand the advantages and benefits of prototyping. The general notion prevailing among these enterprises is that prototyping is merely an expensive phase prior to manufacturing. Such perceptions regarding the prototyping, coupled with the lack of technical knowledge and a looming lack of standard process controls, are expected to hinder the market growth.
The outbreak of the COVID-19 pandemic has significantly impacted the overall global economy and subsequently, the 3D printing industry. Initially, Europe and Asia Pacific were among the worst affected regions in terms of the number of COVID-19 patients across the globe. Further, the situation worsened in the U.S. as well. Due to the rapid spread of the virus, the governments issued an order for the complete lockdown of some key cities. The complete lockdown affected the production of 3D printing manufacturers. This is attributed to the labor shortage and the complete disruption of logistics and supply chain in the nation. The halt in the production of 3D printing had an adverse impact on the overall market growth in the first and second quarters of 2020.
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Metal 3D Printing Industry Segmentation
Grand View Research has segmented the global metal 3D printing market based on component, technology, software, application, vertical, and region:
Metal 3D Printing Component Outlook (Revenue, USD Million, 2017 - 2030)
- Hardware
- Software
- Services
Metal 3D Printing Technology Outlook (Revenue, USD Million, 2017 - 2030)
- Selective Laser Sintering
- Direct Metal Laser Sintering
- Inkjet Printing
- Electron Beam Melting
- Laser Metal Deposition
- Laminated Object Manufacturing
- Electron Beam Freeform Fabrication
- Selective Laser Melting
Metal 3D Printing Software Outlook (Revenue, USD Million, 2017 - 2030)
- Design Software
- Inspection Software
- Printer Software
- Scanning Software
Metal 3D Printing Application Outlook (Revenue, USD Million, 2017 - 2030)
- Prototyping
- Tooling
- Functional Parts
Metal 3D Printing Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Automotive
- Aerospace Defense
- Healthcare
- Consumer Electronics
- Power Energy
- Others
Metal 3D Printing Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- South America
- MEA (Middle East Africa)
Key Companies profiled:
Some prominent players in the global Metal 3D Printing Industry include
- Materialise NV
- 3D Systems, Inc.
- GE Additive
- Autodesk Inc.
- Optomec, Inc.
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