Market intelligence firm CONTEXT has reported weak performance across all segments of the 3D printer industry in Q4 2024, with shipments declining due to broader economic challenges. Persistent inflation, high interest rates, and ongoing global uncertainties surrounding mergers and acquisitions, tariffs, and recession risks all contributed to the slowdown in capital spending.
In Q4 2024, 3D printer shipments across various price segments faced significant declines. Industrial printers priced above $100,000 saw a 6% drop compared to Q4 2023. Midrange printers, priced between $20,000 and $100,000, experienced a sharper 18% fall. Professional systems, ranging from $2,500 to $20,000, dropped 11%, and even entry-level 3D printers, which had previously driven growth, saw a 10% decrease year-over-year (Y/Y).
For the full year, the entry-level segment under $2,500 was the only category to show growth, rising by 26%. Brands like Bambu Lab and Creality contributed to this increase. However, this growth came at the expense of the professional market, which saw a 15% drop in 2024. Midrange printers also declined by 11%, and industrial systems faced a 17% decrease compared to 2023.
As Chris Connery, VP of Global Analysis at CONTEXT, explained, “2024 was a tough year for many 3D printer system vendors, marked by macroeconomic pressures and a shifting competitive landscape. But beneath the surface, there’s a sense of continued strong bottled-up demand that could reshape the industry in 2025 and beyond.”
Focusing on the industrial 3D printer segment, shipments of metal-based systems were hit hardest, especially in markets like China. Polymer systems showed slight improvement, with shipments rising 10% Y/Y in Q4 2024, driven by a 23% increase in vat photopolymerization machines. China led the resurgence, with a 53% increase in shipments, particularly from UnionTech.
Despite declining shipment volumes, revenues in the metal 3D printing segment held steadier. In Q4, metal PBF systems saw a 10% Y/Y revenue decline, with Western vendors like EOS and Nikon SLM Solutions posting strong results. For the full year, Directed Energy Deposition (DED) was the only category to grow, while other categories like PBF and material extrusion saw declines.
Midrange 3D printers priced between $20,000 and $100,000 suffered the steepest drop in Q4, with shipments falling 18% Y/Y. However, material jetting systems within the segment showed positive growth, particularly driven by Flashforge’s success in the jewelry sector. While China overtook North America as the leading market for midrange printers, overall performance remained weak.
Professional printers, priced between $2,500 and $20,000, also faced mixed results. Material extrusion systems dropped sharply by 40%, while vat photopolymerization systems grew by 18%. Notably, Formlabs and SprintRay contributed to the strong performance of vat photopolymerization printers.
Entry-level 3D printers, under $2,500, were the only segment to post annual growth, rising 26% in 2024. However, the segment lost momentum by Q4, with shipments down 10% compared to the previous year. Despite a decline in overall shipments, brands like Creality and Bambu Lab continued to perform well.
Looking ahead to 2025, the industry remains cautious but optimistic. While Q4 2024 was difficult, new milestones and investments in the 3D printing space suggest potential for a rebound. CONTEXT forecasts flat to single-digit shipment growth in 2025, with more significant gains expected in 2026. Mergers and acquisitions will continue to shape the industry, with the possibility of new low-cost, full-color 3D printers emerging, which could further disrupt the market.
