Desktop 3D Printing Market Rising With Growth In New Technology Trends Research By 2030

Posted by Mrudula Anil Karmarkar on September 26th, 2023

San Francisco, 26 September 2023: The ReportDesktop 3D Printing Market Size, Share & Trends Analysis Report By Component, By Technology, By Software, By Application (Prototyping, Tooling, Functional Parts), By Vertical, By Material, By Region, And Segment Forecasts, 2023 - 2030

The global desktop 3D printing market size is expected to reach USD 20.93 billion by 2030, growing at 23.4% CAGR from 2023 to 2030, according to the new report by Grand View Research, Inc. Desktop 3D printing involves utilizing computer-aided design software or digital 3D models to design and manufacture three-dimensional objects. The market for desktop 3D printers has experienced substantial growth owing to the increasing demand for prototyping, tooling, and design applications in various industries such as dental, healthcare, fashion, jewelry, and the production of customized objects and gifts. This technology provides small and medium-sized enterprises with a cost-effective solution, enabling them to personalize their products while minimizing manufacturing expenses compared to traditional manufacturing methods.

The demand for desktop 3D printing has witnessed a notable rise, primarily driven by the growing interest of hobbyists and innovators in 3D printing technology. Individuals are increasingly leveraging desktop 3D printers for personal and domestic use, while universities and educational institutes are adopting them for technical training and research purposes. Developing economies such as South Africa, Brazil, and India have experienced remarkable market growth, largely attributed to the shift from traditional manufacturing methods to 3D printing among users in these countries. Market players in these economies have embraced desktop 3D printers to provide associated services like 3D printing materials, filaments, 3D modeling, and 3D printer software.

The growth of desktop 3D printing and related technologies has been propelled by the private and public sectors' extensive research and development efforts. Increasing investments from governments and private investment firms have compelled manufacturers to innovate with existing desktop 3D printing technologies, thereby driving the adoption of state-of-the-art solutions.

In 2022, North America led the market with the largest revenue share of approximately 39%. This was primarily due to the widespread adoption of 3D printers for modeling, designing, and manufacturing prototypes and components across various industries. On the other hand, Asia Pacific is anticipated to grow at the highest compound annual growth rate (CAGR) of 27.4% over the forecast period. Several factors have contributed to the growth of the Asia Pacific region, including rapid industrialization and urbanization, the development of civil infrastructure, the increasing presence of consumer electronic products, and the advantages of optimized labor costs.

Desktop 3D printing is a technique that requires a significant capital investment, and some companies are still hesitant to embrace its advantages due to misconceptions about prototyping. The market currently lacks standardized process controls and a skilled labor force, which may restrict its expansion. However, government initiatives aimed at increasing awareness and highlighting the benefits of using 3D printers are expected to help overcome these market constraints.

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The desktop 3D printing industry is highly competitive. Leading industry players are adopting strategies such as partnerships, collaborations, mergers and acquisitions, and agreements to survive the highly competitive environment and enhance their business footprints.

Desktop 3D Printing Market Report Highlights

• Desktop 3D printing technology is experiencing significant growth due to its ability to provide efficient, accurate, and rapid prototyping, leading to optimized time to market
• The demand for desktop 3D printers has increased among hobbyists for personal use and in the education sector for research and training purposes
• The functional parts segment is expected to dominate the market in 2022. It is projected to expand its market share to over 48% by 2030 owing to the benefits such as reduced fabrication costs, faster time to market, and shorter lead time of the functional prototypes before the initiation of mass production
• In 2022, the plastic material segment accounted for approximately 51% of the market share. However, the metal segment is anticipated to witness the fastest growth, driven by the rising demand for metal desktop 3D printing in various industrial verticals such as automotive, aerospace & defense
• The Asia Pacific region serves as a manufacturing hub for numerous industry verticals. The rapid urbanization in countries like China, Japan, and South Korea has spurred the need for infrastructure development, leading to the adoption of desktop 3D printing across various industries

The emerging applications of additive manufacturing, as well as the increasing need for rapid prototyping and advanced manufacturing in several verticals, are driving the expansion of the desktop 3D printers industry worldwide. The growth is anticipated to be hampered by limitations in raw materials & machinery, and intellectual property concerns. Increased demand for rapid prototyping has allowed manufacturers to design and build efficient products and systems. These factors are expected to collectively drive the market growth over the projected period.

Desktop 3D Printing Market Report Scope

List of Key Players in the Desktop 3D Printing Market

• 3D Systems, Inc.
• 3DCeram
• Autodesk, Inc.
• Canon, Inc.
• Dassault Systèmes
• EnvisionTEC
• EOS (Electro Optical Systems) GmbH
• ExOne
• GE Additive