3D Printing Market to Surpass USD 110.29 Billion by 2031 | SkyQuest Technology

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Westford, USA, June 11, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that 3D Printing Market will attain a value of USD 110.29 Billion by 2031, with a CAGR of 23.3% over the forecast period (2024-2031). A subset of additive manufacturing, 3D printing employs three-dimensional versions of inkjet printing methods. Furthermore, the increasing use of 3D technology in the healthcare, defence, and automotive sectors has led to an increase in demand for the 3D printing process, which in turn has driven market expansion. As production costs are declining and process downtime is decreasing, the 3D printing industry is anticipated to increase significantly over the projection period. 

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Browse in-depth TOC on the ” 3D Printing Market “ 

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  • Pages – 157 
  • Tables – 187 
  • Figures – 79 

3D Printing Market Overview: 

Report Coverage  Details 
Market Revenue in 2023  $20.65 Billion 
Estimated Value by 2031  $110.29 Billion 
Growth Rate  Poised to grow at a CAGR of 23.3% 
Forecast Period  2024–2031 
Forecast Units  Value (USD Billion) 
Report Coverage  Revenue Forecast, Competitive Landscape, Growth Factors, and Trends 
Segments Covered  Offerings, Technology, Process, Application, Material,Vertical 
Geographies Covered  North America, Europe, Asia Pacific, Middle East & Africa, Latin America 
Report Highlights  Exploring optimization options for 3D printing parameters 
Key Market Opportunities  Increasing demand for medical products and supplies in post-pandemic scenario 
Key Market Drivers   Reduced cost and increased accessibility 

Hardware Will Predominate As 3D Printing Speed and Precision Have Increased 
The dominance of hardware components in the global 3D printing market can be attributed to the constant progress in printer technology, together with enhanced precision and quicker printing speeds, which encourage industry adoption. The industry is still controlled by hardware due its low production costs due to modern features, intricate designs that lead to increased demand, and overall advancement in technology. 

Desktop 3D Printers Driving Innovation Through Accessibility and Affordability 
As a result of their low cost, intuitive user interfaces, and tiny form factor, desktop 3D printers are the industry leaders and are easily affordable for educational institutions, small enterprises, and amateurs alike. Due to the large number of people who can use them, they are more widely used which leads to more invention, saving money and keeping them leading. 

North America to Dominate Due to Early Adoption of Technology  
With a sizable market share, North America is the dominant region in the global 3D printing market. There are several reasons for this dominance; the first being that the technology was introduced earlier than most other places hence led to advanced markets that are innovative and unique in nature. It should also be noted that North America is well positioned for rapid expansion 3d printing industry as it has numerous like companies in the industry that are experienced. 

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Drivers: 

  1. Reduced Cost and Increased Accessibility 
  2. Ease in the Development of Customized Products 
  3. Growing Technological Advancements Enhances 3D Printing Manufacturing Processes 

Restraints: 

  1. Limited Design Expertise and Standardization 
  2. Lack of Standardized Testing Methods to Verify Mechanical Properties of 3D Printing Materials 
  3. Material Limitations Leads to the High Manufacturing Complexity 

Prominent Players in 3D Printing Market 

  • 3D Systems, Inc. (US) 
  • HP Development Company, L.P. (US) 
  • EOS GmbH (Germany) 
  • General Electric (US) 
  • Materialise NV (Belgium) 
  • Desktop Metal, Inc. (US) 
  • voxeljet AG (Germany) 
  • SLM Solutions (Germany) 
  • Renishaw plc. (UK) 
  • Protolabs (US) 

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Key Questions Answered in 3D Printing Market Report 

  • By 2031, how much is the global 3D printing market estimated to be worth, and what is the anticipated compound annual growth rate (CAGR) for this market? 
  • What are the main reasons behind hardware components’ dominance in the 3D printing industry? 
  • Why are desktop 3D printers thought to be the industry leader? 

This report provides the following insights: 

  • Analysis of key drivers (Reduction in price for new users to enter the 3D printing realm, high-resolution printing & multi-material capabilities, faster printing speeds are facilitating the creation of increasingly intricate & functional objects and allowing the production of complex designs with finer details), restraints (Certain specialty printing materials can also be expensive, industry standardization regarding design formats and lack of uniformity in standards may hinder consistent & reliable production), opportunities (Substantial surge in the demand for medical products & supplies, efficient production of customized drugs housing and rapid & customized production of various medical devices), and challenges (Inherent variability of 3D printing materials and software updates interfering with 3D printing calibration stability) influencing the growth of 3D printing market. 
  • Market Penetration: Comprehensive information on the product portfolios offered by the top players in the 3D printing market. 
  • Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the 3D printing market. 
  • Market Development: Comprehensive information on lucrative emerging regions. 
  • Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market. 
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players. 

Related Report: 
Industrial 3D Printing Market 
3D Printing Material Market 
Medical 3D Printing Market 
Digital Twin Market 
3D Printing Construction Market 

About Us: 
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.  
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific. 

Contact: 
Mr. Jagraj Singh 
Skyquest Technology 
1 Apache Way, 
Westford, 
Massachusetts 01886 
USA (+1) 351-333-4748 
Email: [email protected] 

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