Industrial ($100,000+) and mid-range ($20,000–$100,000) 3D printing system shipments dropped by 24% and eight% year-over-year within the third quarter of 2024, in line with market insights agency CONTEXT.
CONTEXT’s newest report famous how this downturn in 3D printer shipments was compounded by weak monetary outcomes, layoffs, management adjustments, CEO turn-over, operational scale-backs and contentious M&A. Although the corporate did notice Eplus3D and Nikon SLM Options have been two of the OEMs to ‘get pleasure from success’ within the industrial phase with their ‘super-advanced, multi-laser, excessive build-volume metallic powder mattress fusion (PBF) machines.’
Progress of entry-level (beneath $2,500) 3D printer shipments continued in Q3 2024 at a price of 28% year-on-year, however slowed from its earlier ‘super-accelerated tempo.’ Gross sales within the skilled ($2,500–$20,000) value class, in the meantime, have been solely marginally down on the earlier yr (−1%).
Industrial methods
For polymer industrial methods, Vat Photopolymerisation system shipments have been the worst affected 3D printing course of in Q3-24, with a 30% YoY decline in shipments. On a TTM foundation, whole Industrial polymer printer shipments dropped 29% and polymer Vat Photopolymerisation have been down 42%. Per CONTEXT, two world leaders on this area – UnionTech (principally transport domestically into China) and 3D Techniques (principally transport to the West) – have seen shipments of any such system fall sharply. Each are stated to quote decreased demand within the dental market as the most important cause for the decline. Different industrial polymer applied sciences have been additionally challenged within the interval, with YoY cargo declines for Energy Mattress Fusion methods down 15%, Materials Extrusion down 15% and Materials Jetting shipments down 43%.
On the metallic facet, shipments had been ‘holding up higher’ than polymer methods till the second quarter of final yr when each noticed YoY falls. In Q3-24, CONTEXT says Binder Jetting system gross sales have been flat however shipments of printers utilizing all different applied sciences as soon as once more declined. Powder Mattress Fusion methods accounted for 74% of latest Industrial metals methods on this interval however shipments of those have been down 24% on the earlier yr. There was additionally a drop of 18% in gross sales of Directed Vitality Deposition printers, the second-largest class within the phase.
Eplus3D was the worldwide chief by way of items shipped in Q3-24 with shipments up 41% from a yr in the past. CONTEXT studies that TRUMPF and Renishaw have been the one different firms within the high fifteen to see YoY cargo will increase for the quarter. From a income standpoint, EOS was once more the market chief with Nikon SLM Options, Eplus3D and Renishaw amongst different firms seeing YoY income development.
Vital regional variations diminished in Q3-24 as each Chinese language and Western distributors noticed gross sales fall, significantly within the Industrial metallic PBF sector. On this Industrial metallic PBF sub-segment, general shipments from Chinese language distributors, that are primarily to the home market, have been down 26% on the earlier yr however there have been vital variations: over the quarter, Eplus3D shipped extra printers YoY, whereas most different Chinese language firms noticed vital YoY drop-offs. The spotlight for Eplus3D was the cargo of one of many largest recognized ‘metre-tall’ laser PBF machines. Equally, shipments for Nikon SLM Options’ large-format multi-laser NXG sequence machines continued to speed up and the corporate ‘continues to benefit from the high spot by way of world market share on this sub-category.’
Midrange methods
In response to CONTEXT, decreased spending within the industrial value class continued to trickle down into the mid-range market and contributed to an −8% YoY drop in shipments in Q3-24. Stratasys stored maintain of its market-share lead however noticed weak gross sales of some strains, particularly Materials Extrusion printers. 3D Techniques, CONTEXT studies, is ‘getting smaller every quarter’ and dropped to sixth place on this value class. Chinese language distributors together with UnionTech, ZRapid Tech and Flashforge are stated to have fared higher than Western distributors: combination shipments from Chinese language distributors have been up 46% YoY whereas these of all others have been down 24%. Flashforge had a very sturdy quarter because of rising gross sales of its WaxJet materials jetting printers to the jewelry market.
Skilled methods
The bounce-back within the skilled value class was pushed virtually fully by Formlabs, per CONTEXT. Though general shipments for Q3-24 have been nonetheless down 1% YoY, and 20% on a TTM foundation, the super-successful roll-out of Formlabs’ new LFD Vat Photopolymerisation platform led to the cargo of 26% extra Vat Photograph printers than in the identical interval of 2023. In the meantime, gross sales of Materials Extrusion machines on this value class continued to be pinched by equally featured, lower-priced entry-level merchandise leading to 28% fewer Skilled FDM/FFF printer shipments within the quarter.
Entry-level methods
Entry-level printer shipments have been up 28% YoY in Q3-24 and a ‘whopping 43%’ on a TTM foundation. Progress slowed for Creality and, though it continued to guide the worth class, there have been market-share beneficial properties for firms similar to start-up Bambu Lab and long-time participant Flashforge.
Outlook
In summarising, CONTEXT recognises the widespread upheaval at administration and board degree throughout many AM firms, however notes that prime rates of interest have had extra of an influence on buying choices.
“Whereas this chaos had vital impacts, newly up to date analyses present that 2024 as an entire was much more closely affected by excessive rates of interest and subsequently muted CapEx spending,” stated Chris Connery, VP of world evaluation at CONTEXT. “It due to this fact appears that full-year figures are more likely to be near the lows seen throughout the peak of pandemic lockdowns in 2020 with no less than −12% fewer industrial printers shipped worldwide in 2024 than in 2023.”
CONTEXT additionally notes that world mid-range printer shipments are on monitor to be −8% down over the complete yr, whereas the entry-level phase will end 2024 with a 30% YoY improve in annual world shipments. The reducing of rates of interest is ready to proceed by way of 2025, which ought to result in a rise in CapEx spending by H2 2025 and, CONTEXT tasks, a full-year development of 14% in industrial printer system shipments in 2025. Observe-on mid-range printer shipments at the moment are forecast to rise 12% in 2025 {and professional} system shipments are set to rise 6%.
Trying additional forward, CONTEXT’s present forecast for 2026 is of extra constant and stronger double-digit YoY development in all sectors with YoY development charges upwards of 30%−40% over a 5-year horizon.
“To place this in context, notice that the market bounced again strongly popping out of Covid as distributors delivered towards pent-up demand: between 2020 and 2021, industrial 3D printer shipments have been up 30% and people of mid-range methods elevated by 26%,” stated Connery. “Nonetheless, the influence of a change in US authorities is but to be decided: whereas the brand new administration is mostly targeted on accelerating enterprise potential, sticky inflation and unknown import restrictions are tempering optimism.”
* Worth lessons: Private <$2,500; Skilled $2,500–$20,000; Mid-range $20,000–$100,000; Industrial $100,000+
