2023-07-21 15:30:34
Fewer 3D printers sold, more turnover achieved. Summarized in one sentence, this is the analysis of the global 3D printer market as the research agency Context has made regarding Q2. Sales in the Industrial and Professional class have fallen sharply. Due to inflation and the sale of more expensive systems, the total turnover has increased by 15%. In the Industrial class, the higher turnover is also due to the growth in the metal printing market.
The shift from cheaper to more expensive AM systems continued in Q2 as well. This does indicate that the underlying developments in the market are not bad. Only the high sales numbers remain unfulfilled.
Growth potential mainly remains with mass production
According to Context 3D printing still excels at prototyping and there is still a lot of room for growth in mass customization and the production of complicated parts in small volumes, but it is mass production that has the strongest growth potential in the coming years. “Regardless of the potential consolidation in the industry, the outlook for 3D printing remains bright, with demand growing and accelerating, especially as many companies manage to keep supply chain challenges and their reshoring initiatives top-of-mind while the internal machinations of the industry play out around them,” said Chris Connery, Context responsible for global analysis. By the latter, he refers to the takeover saga surrounding Stratasys, a topic that dominated the second quarter.
3D metal printing is growing
In the Industrial class (above $100,000), sales in numbers fell by 15%. On the other hand, turnover increased by 11% on an annual basis. Chris Connery attributes this to the increasing demand for high-quality 3D metal printers. It is true that these manufacturers sold 8% fewer metal printers, but their turnover increased by 25%. Velo3D and SLM Solutions (part of Nikon) in particular have contributed to this through their multi-laser systems. In addition, sales at GE Additive have grown strongly. According to Context, GE Additive is now the market leader in the laser powderbed fusion segment along with Eplus3D and EOS.
An interesting graph from the Context analysis. Binder jetting may lag behind laser powderbed fusion in metal printing, but with an average of 30% it has a higher annual growth rate than traditional metal printing technology (growth percentage of 26%.
3D plastic printers suffer from inflation
Things are not going so well for industrial polymer 3D printers. The decrease was strongest for the DLP and SLA systems: – 33%. Context attributes this, among other things, to inflation in North America where consumers spend their money on things other than cosmetic dentistry. The market has collapsed considerably. At the same time, the polymer market in China is recovering. However, UnionTech reported weak sales figures in almost all sectors here.
Formlabs driving force on Midrange market.
The mid-segment of the 3D printer market ($20,000 – $100,000) has done well. Here, the number of systems sold is 18% higher than a year earlier. Context attributes this to new products from Formlabs, such as the Fuse1 line, and UnionTech DLP printers in this segment. Formlabs in particular is doing well. The American company accounts for 17% of all sales in the powderbed fusion market and has succeeded in tapping into a new demand with the Fuse printer. A year ago, Formlabs still had a market share of 2% with the Fuse1. Part of Formlabs’ success, according to the analyst, is due to a shift from powder bed systems to more advanced systems. Including the increased prices, this has brought these printers into the Midrange market segment.
The bottom of the 3D printer market is having a hard time
The lower end of the market is doing poorly. In the Professional segment ($2,500 to $20,000), the number of 3D printers sold has fallen by 30%. As the average price rose to $7,271 (up 21%), sales in this segment declined 15% year-over-year. Context says the entire top 5 manufacturers in this segment are affected by the market slump. However, UltiMaker remains the market leader, both in terms of numbers and turnover. According to Context, it’s been a tough quarter for sellers in this price range. If you break down the figures, sales of extrusion printers have even fallen by 33%. This technology has always been dominant in this segment.
Bambu witte raaf in Personal segment
About the Personal class, the news regarding Bambu is especially interesting. It is the stark exception in this segment. Bambu managed to advance to the 2e position in this market and managed to move from crowd funding to mainstream commercialization in one go.
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