3D printing’s potential to revolutionize manufacturing is quickly becoming a reality.
From relatively simple make-to-stock to complex, engineer-to-order production strategies in aerospace, defense, discrete and industrial production, 3D printing technologies are redefining the manufacturing value chain. Investors including venture capitalists, wealth management firms and nearly every market research firm covering high technology has published 3D printing forecasts or market estimates.
A summarized list of 3D printing market forecasts and estimates is provided below:
- Canalys predicts the global 3D printing market will grow from $2.5B in 2013 to $16.2B by 2018, attaining a CAGR of 45.7% in the forecast period. For additional information see 3D printing market to grow to US$16.2B in 2018. The following table compares 2013, 2014 and 2018 forecasts and relative market growth by 3D printers, services and materials.
- IBISWorld forecasts the U.S. market for 3D printer manufacturing in the U.S. will reach $1.4B in 2014, attaining a Compound Annual Growth Rate (CAGR) of 22.8% from 2009 to 2014. The U.S. market will grow at a CAGR of 15.7% from 2014 to 2019. IBISWorld’s report includes market shares, and shows 3D Systems Corporation with 19.5% followed by Stratasys with 18.4%. You can read the IBISWorld report, 3D Printer Manufacturing in the US, February 2014 here (free, no opt-in).
- IDC predicts that worldwide 3D printer unit sales and installed base will grow at a combined compound annual growth rate of 59% through 2017, with the value of shipments attaining a 27% CAGR in the forecast period. IDC’s excellent presentation titled 3D Printing – A Transformative Opportunity for Print and Manufacturing written by Robert Parker and Keith Kmetz was part of the IDC Directions 2014 briefing sessions earlier this year. The following slide from the presentation compares 3D printer market units, installed base and value of shipments. IDC also predicts the Average Selling Value will also drop at a -19% CAGR through 2017.
- The 3D Systems Investor and Analyst Day presentation given June 10, 2014 includes a series of market forecasts and estimates, including an in-depth overview of how 3D Systems is evaluating market opportunities for 3D printing in healthcare. The following graphic is from the 3D Systems Investor and Analyst Day presentation available here:
- 3D printers will grow from a $288M market in 2012 to $5.7B in 2017, attaining an 81.9% CAGR in the forecast period according to research by Wells Fargo Wealth Management. According to this firm’s compiled research, shipments of 3-D printers are expected to grow at a CAGR of 95% a year from 2012 to 2017 with revenue expected to grow at 82% in the same forecast period. Well Fargo Wealth Management found that 3-D printing revenue is estimated to have achieved just 8% of its global market potential as of 2014, making the market opportunity worth $21–$28 billion by 2017. Wells Fargo Wealth Management published the report Beyond 2014: Evolving Opportunities in Technology providing these insights and the following charts showing the growth of 3D printing shipments and revenue:
- Equity analysts’ forecasts for additive manufacturing (AM) or 3D printing range from $7B by 2020 on an 18% CAGR, to aggressive market scenarios reaching $21.3B by 2020 on a 34% CAGR. Morgan Stanley’s forecast are among the most bullish there are. Deloitte presented these figures at the 2014 Engineering & Construction Conference Bridging Innovation in the Industry Disruptive Technologies and their Impact on E&C. You can find the presentation here and a graphic below from the presentation comparing market forecasts.
- Gartner forecasts that 3D printer shipments will grow to 1.1M units by 2017 attaining a CAGR of 95%, and end user spending will grow to $5.7B, attaining a CAGR of 82% in the forecast period. The presentation 3D Printing: The Hype, Reality and Opportunities – Today written by Pete Basiliere of Gartner is available on SlideShare. A PDF of the presentation is available to Gartner clients here.
- The market for 3D printing products and services grew to $3.07B in 2013 attaining a compound annual growth rate (CAGR) of 34.9%, the highest in 17 years according to Wohlers Associates. According to industry expert Wohlers Associates the growth of worldwide revenues over the past 26 years has averaged 27%, with the CAGR for the past three years (2011–2013) reaching 32.3%.For additional information see the Wohlers Report 2014 Uncovers Annual Growth of 34.9% for 3D Printing and Additive Manufacturing Industry. Wohlers Associates is one of the most knowledgeable firms tracking 3D printing, they have involved in this market for decades.
- 67% of manufacturers surveyed are currently implementing 3D printing either in full production or pilot and 25% intend to adopt 3D printing in the future. A study by Price Waterhouse Cooper (PwC) of 3D printing adoption in the global aerospace industry’s MRO (maintenance, repair and overhaul) parts market estimates $3.4B annual savings in material and transportation costs alone. PWC’s recent report published in June, 3D Printing and the New Shape of Industrial Manufacturing, provides a wealth of insights into the adoption of 3D printing in manufacturing. The following graphic from the report compares adoption rates by small and large firms.
- PwC predicts that within three to five years 3D printing technologies will be used for producing military, commerical and complex weapon parts and system components. In the recent research note 3D Printing: A Potential Game Changer for Aerospace and Defense, PwC provided a 3D printing adoption map, which is shown below. PwC observes that “as quality and speed continue to improve, 3D printing will become a viable process for an ever-increasing number of applications, including traditional production parts. No one knows how rapidly the technology will take to mature, but most experts believe it will make significant strides within the next five years.”
