Q2 2024 Market Report - cheap 3D printers dominate, professional 3D printers in retreat
The Atomic Layers: S3E17 (00073)
Atomic Layer of the Day:
The analytics firm CONTEXT has published a report on the 3D printing market for the second quarter of 2024, highlighting dynamic growth in the segment of the cheapest 3D printers (Entry-Level) and a significant decline in revenues in the industrial segment.
According to data released by CONTEXT, sales of Entry-Level 3D printers increased by +65% compared to Q2 2023, with this segment generating 48% of global revenues, surpassing the industrial segment by 10% (38%). Revenue growth in this category amounted to +58% year-on-year.
In the industrial segment, revenues dropped by -17% compared to the previous year, and a -25% year-on-year decline in shipments was recorded, marking the fourth consecutive quarter of declines. The difficulties were particularly evident in polymer systems, while metal systems performed better due to increased shipments in China.
The mid-range and professional segments also experienced year-on-year declines. The professional segment saw a -21% decrease in shipments, while the mid-range segment noted a -6% drop year-on-year.
The report reveals distinct trends in the 3D printer market. The Entry-Level segment is experiencing dynamic growth, while the industrial segment is facing challenges and market reshuffling.
The leader in this category was Creality, holding a 47% market share, with its main competitor being Bambu Lab, which achieved triple growth in shipments and secured a 26% global share in this segment.
Atomic Layer from the Past:
10-17-2018: ICON secured $9 million in funding.
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