6 June 2016 (London, UK): The Worldwide 3D Printer market (including Printers, Materials and Services) is set to reach $17.8B over the next five years, according to latest figures by CONTEXT, the global market research firm. Printer hardware alone, consisting of both Desktop 3D printers and Professional and Industrial printers, is projected to grow from $1.8B in 2016 to $6.4B in 2020 representing a 38% CAGR.
The market is set to grow in the next couple of years as IT stalwarts HP, Ricoh and Canon begin to sell printers in volume into the Industrial/Professional 3D printing segment. At heart will be the success of the industry to mirror HP’s recent announcement highlighting their intention to help the market move from a focus on vertical prototyping to a focus on mid-run volume production by way of new, faster and cheaper industrial processes.
The long standing 3D Printer market, typified by companies such as Stratasys, 3D Systems and EOS, has grown the prototyping industry but has struggled to reach into the $21 Trillion manufacturing industry except by way of the ultra-hot (but still small) Metal 3D Printing market. Only 7% of the Industrial/Professional 3D Printers shipped globally in 2015 were focused on producing metal parts but this is the fastest growing sub-segment in the Industrial space. GE and Boeing are already using 3D printing to mass-produce intricate metal parts for the aerospace and medical markets for example.
While industrial 3D printing is taking away the limelight from the wanton industry darling of a few years ago – Desktop 3D Printing – these sub $5,000 personal printers remain extremely important for the industry. The Desktop 3D Printer market continues to grow significantly, with a renewed focus on Education, on Makers/Hobbyists and on young Engineers. Desktop 3D Printers allow the newly initiated to retool their minds for additive manufacturing. Whether it begins with the introduction to the technology by way of a toy as we will see later on this year with Mattel’s ThingMaker, by way of a few hundred dollar Kickstarter printer, or from leading brands like XYZprinting, MakerBot and others, as generations before had to become familiar with PCs, this generation needs to learn 3D Printing.
Source: Context
