Desktop 3D Printing Market projected to reach US$ 7.639 billion by 2028 at a significant CAGR of 23.91%

NOIDA, UTTAR PRADESH, INDIA, September 29, 2023 /EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the desktop 3D printing market is projected to grow at a CAGR of 23.91% between 2021 and 2028 to reach US$7.639 billion by 2028.

The market is expected to thrive due to the increasing adoption of additive manufacturing on a large scale, coupled with growing demand for rapid prototyping and advanced manufacturing in various industries. Technological advancements are the primary growth catalysts, and favorable government policies, higher R&D investments, and technology standardization are expected to further boost market growth.

Desktop 3D printers offer opportunities for creative architectural design, material experimentation, and construction system innovation. They provide an agile approach to product development with benefits such as rapid prototyping, structural analysis, modeling, and shorter time-to-market, which are advantageous for manufacturers and are expected to collaborate with these factors, driving the market forward during the projected period.

The Desktop 3D Printing Market is significantly influenced by the versatile applications of 3D printing encompasses a wide range, from crafting desk accessories, and decorative items, to functional components. For example, in March 2022, 3D Systems partnered with Enhatch, an AI software provider for surgical applications, to integrate AI into 3D Systems' patient-specific solutions. The growing prevalence of Desktop Printing is poised to act as a driving force in the 3D desktop printing market. According to the Additive Manufacturing Landscape 2020 report by UK-based AMFG, desktop machines held a significant 15.4% share in the global 3D printing hardware sector, surpassing electronics and composite machines. Technological advancements are fueling the expansion of this market. For instance, in June 2023, HeyGears, a prominent supplier of 3D printing technology and solutions, initiated pre-sales for its UltraCraft Reflex, marking its debut in the desktop 3D printing segment for end-users. The substantial share of desktop machines in the 3D printing hardware sector is expected to directly boost the demand for 3D desktops, thereby enhancing market growth throughout the forecast period.

Access sample report or view details: https://www.knowledge-sourcing.com/report/desktop-3d-printing-market

Based on the technology, the Desktop 3D Printing Market is classified into fused deposition modeling (FDM), Fused Filament Fabrication (FFF), stereolithography (SLA), and others. The stereolithography segment dominated the overall desktop 3D printing market due to the increasing adoption of SLA technology 3D printing finds application in crafting items like concept models, intricate geometrics, cosmetic prototypes, and various other objects. Companies are witnessing substantial investment in this technology and anticipate its significant growth in the years ahead.

Based on the filament used, the Desktop 3D Printing Market is segmented into PLA, ABS, PETG, and others. PLA dominates the market and has gained popularity in 3D printing. PLA is renowned for its biodegradability and user-friendly attributes, making it a favored selection among 3D printing enthusiasts, whether beginners or professionals. Its ease of use, environmental friendliness, and versatility contribute to its popularity in the 3D printing community.

Based on the components, the Desktop 3D Printing Market is categorized into hardware, software, and services. The hardware industry holds a dominant position in the market, benefiting from the increasing emphasis on rapid prototyping and advanced manufacturing techniques. Key drivers include rapid industrialization, urbanization, the surging demand for consumer electronics, enhanced civil infrastructure, and cost-effective labor.

Based on Geography, the Desktop 3D Printing Market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North American region plays a substantial role in the desktop 3D printing market and is anticipated to witness growth in the coming years. This growth is attributed to the expansion of Innovative technological advancements tailored to diverse industry requirements. Further, increased investments by developed economies, including the US, in advanced manufacturing technologies, are expected to further fuel market expansion.

As a part of the report, the major players operating in the Desktop 3D Printing Market, that have been covered are MakerBot Industries, LLC, XYZprinting, Inc., Formlabs, Inc., BEEVERYCREATIVE, FlashForge Corporation, Ultimaker, Markforged, Inc., Raise3D, Inc.

The market analytics report segments the Desktop 3D Printing Market on the following basis:

• By Technology

o Fused Deposition Modeling (FDM)
o Fused Filament Fabrication (FFF)
o Stereolithography (SLA)
o Others

• By Filament Used

o PLA
o PETG
o ABS
o Others

• By Component

o Hardware
o Software
o Services

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Italy
• Others

o Middle East and Africa

• Saudi Arabia
• UAE
• Israel
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Indonesia
• Thailand
• Others

Companies Profiled:

• MakerBot Industries, LLC
• XYZprinting, Inc.
• Formlabs, Inc.
• BEEVERYCREATIVE
• FlashForge Corporation
• Ultimaker
• Markforged, Inc.
• Raise3D, Inc.

Explore More Reports:

• ABS Filament 3D Printing Material Market: https://www.knowledge-sourcing.com/report/abs-filament-3d-printing-material-market

• Industrial 3D Printing Market: https://www.knowledge-sourcing.com/report/industrial-3d-printing-market

• Biocompatible 3D Printing Materials Market: https://www.knowledge-sourcing.com/report/biocompatible-3d-printing-materials-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
[email protected]
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