Industrial 3D Printing Market Revenue to Attain USD 19.85 Bn by 2033

21 Nov 2024

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Table of Content

1. Industrial 3D Printing Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Industrial 3D Printing Market 4. Industrial 3D Printing Market Trends 5. Regional Insights 6. Industrial 3D Printing Market Coverage 7. Market News

Industrial 3D Printing Market Revenue and Trends

The global industrial 3D printing market revenue was valued at USD 3.56 billion in 2024 and is expected to attain around USD 19.85 billion by 2033, growing at a CAGR of 21.04% during the forecast period. The demand for industrial 3D printing is rising for manufacturing intricate components in the automotive, healthcare, aerospace, and defense sectors. Furthermore, rising digitization and technological advancements are expected to boost the market in the coming years.  

Market Overview

Industrial 3D printing enables the manufacturing of architectural models of heavy machinery and robotics. It also allows for the manufacturing of small batch production and quick prototyping, which helps businesses produce more products in less time. Complex geometries can be produced with 3D printing, paving the way for developing medical implants, automotive parts, and aircraft components. Many manufacturers are also shifting toward 3D printing as it is cost-effective and helps businesses to produce more products with reduced waste. Moreover, the rising on-demand production boosts the demand for industrial 3D printing as it minimizes supply chain interruption and provides quick prototyping with reduced inventory costs.

Advancements in technologies are contributing to market growth. Implementing artificial intelligence algorithms in design technologies helps create intricate models that are impossible with conventional design techniques. AI also helps manufacturers seamlessly transition from prototyping to full-scale manufacturing. Thus, various market players are implementing AI algorithms in their existing 3D printing technologies.

• For instance, in November 2024, 1000 Kelvin, a leader in AI-driven additive manufacturing (AM) solutions, launched AMAIZE 2.0 AI co-pilot for laser powder bed fusion additive manufacturing that redefined additive manufacturing capabilities, making 3D printing more efficient and reliable.

Report Highlights of the Industrial 3D Printing Market

• Based on component, the hardware segment led the market in 2023 as it is a crucial component in 3D printing. It allows customization with accuracy and less delay. Technological advancements in 3D printing hardware led to enhanced accuracy and printing speed.
• On the basis of technology, the stereolithography (SLA) segment led the market in 2023. This is mainly due to its heightened use to create intricate designs with fine details. This technology is widely used in several sectors, such as automotive, aerospace, jewelry, and healthcare, where intricate designs are essential.
• Based on end-user, the manufacturing segment dominated the global market in 2023. This is due to the increased adoption of 3D printing in manufacturing industries. 3D printing allows manufacturers to manufacture intricate parts that are not possible with traditional manufacturing techniques. It also eliminates the need for tooling.

Industrial 3D Printing Market Trends

Flexibility and customization: 3D printing accurately manufactures complex structures that are difficult to manufacture with traditional methods, enhancing flexibility. 3D printing has a big edge over traditional manufacturing techniques, as it can produce practically anything. It also enables the development and manufacturing of geometries that would be hard to achieve using older technologies. For instance, in May 2024, IIT Madras incubated the AgniKul, the world’s first 3D-printed semi-cryogenic rocket engine.

Developments in 3D printing: With 3D printing, manufacturers are creating complex devices on demand. Advancements in 3D printing technology led to the development of new printing methods, such as direct energy deposition and continuous liquid interface production, which help to create smooth-sided solid objects of various shapes. For instance, in November 2024, Caracol introduced Vipra AM, a new robotic metal 3D printing platform for large-scale metal parts. It is a large-scale direct energy deposition platform that leverages wire arc additive manufacturing processes developed into hardware software and automation proprietary systems. The system maximizes users' flexibility, control, and performance in various applications.

• Rising demand for online 3D printing services: The rising demand for online 3D printing services is expected to boost the market. These services offer several advantages, such as customization, cost-effectiveness, and convenient product delivery.

Regional Insights

• In 2023, North America registered its dominance in the industrial 3D printing market due to its well-established industrial base. The region is the early adopter of advanced technologies. Many businesses and startups have shifted toward 3D printing as it is cost-effective and allows on-demand production of products. Moreover, the region boasts leading automotive and aerospace companies, which often use 3D printing to develop intricate components.

On the other hand, Asia Pacific is expected to be the fastest-growing region in the industrial 3D printing market in the upcoming years. This is mainly due to the rising manufacturing industries in the region. India and China are leading the market, as they are recognized as manufacturing hubs. In addition, rising usage in the medical field and the increasing production of consumer electronics and vehicles are expected to fuel the market growth in the region.

Industrial 3D Printing Market Coverage

Market News

• In November 2024, Prusa Research launched the fully enclosed Prusa CORE One, a CoreXY 3D printer with active chamber temperature control that combines professional-grade performance with user-friendly features. It can handle a wide range of materials such as PLA, PETG, ASA, ABS, PC, and Nylon, delivering exceptional quality in every print.
• In November 2024, Nike unveiled its first nearly 3D-printed shoe, the Air Max 1000, with a groundbreaking design that marks a major leap in manufacturing technology. The shoe is made from a single flexible material with different densities and textures for optimal comfort and support.

Market Segmentation

By Component

• Hardware
• Services

By Technology

• Stereolithography (SLA)
• Selective Laser Sintering (SLS)
• Electron Beam Melting (EBM)
• Fused Deposition Modeling (FDM)
• Laminated Object Manufacturing (LOM)
• Others

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