GF Securities: Consumer 3D printing market expansion suggestions focus on machine leaders, listed machine platforms, and consumables supply chain extension opportunities
The Zhitong Finance App learned that GF Securities released a research report saying that improved ease of use and improved ecology will jointly promote the expansion of consumer-grade 3D printing, and that new shipments and inventory expansion will jointly open up space for consumables, accessories, software, and services. Both supply and demand sides of the industry are continuously optimized. Online channels undertook major transformation, and the brand's official website and DTC system established users and accepted repurchases of official consumables and accessories. The industry expanded from disposable hardware sales to stock operation. The bank suggests focusing on machine leaders, listed machine platforms, and consumables supply chain expansion opportunities.
The main views of GF Securities are as follows:
Consumer-grade 3D printing: booming segmentation circuit, improving ease of use and improving ecology to jointly promote industry expansion
Consumer-grade 3D printing is aimed at non-industrial scenarios such as individuals, education, and small businesses. CIC expects the global industry's GMV to increase from about US$6 billion in 2025 to US$27.2 billion in 2030, and CAGR of about 33.2%; equipment shipments are expected to increase from 4.1 million units in 2024 to 13.4 million units in 2029, and holdings will increase from 15.8 million units to 40.4 million units during the same period. New shipments and inventory expansion jointly open up space for supplies, accessories, software, and services.
Demand side: hardware automation, content supply, cost reduction, and scenario expansion together lower the penetration threshold
Functions such as automatic leveling, AI failure detection, and “one-click printing” reduce commissioning costs, and model platforms and generative AI enable users to shift from “independent modeling” to “select or generate models and then print”. Reduced equipment prices, improved compatibility with multi-color systems and engineering materials have further expanded scenarios such as education, trendy culture and creativity, repair parts, small businesses, and “printing farms”; policies such as brand communication, user reputation, digital consumption, and 3D printing into classrooms are jointly promoting market expansion.
Supply side: Chinese brand owners enter the gate-level market, and the focus of competition shifts from stand-alone parameters to system experience
According to CONTEXT data, Chinese manufacturers will account for more than 90% of global entry-level 3D printer shipments in 2025, reaching 95% in 2025Q1; in 2024, Tuozhu, Creative 3D, Vertical Cube, and Intelligent will together account for about 71% of global consumer grade shipments. Chinese brands rely on supply chains, product iterations, and cross-border channels to increase their share; North America and Europe are the main demand markets, and the combined personal 3D printer market in 2024 will account for about 59.8% of the world. As basic parameters approach, automatic calibration, multi-color systems, slicing software, model platforms, official consumables, and after-sales service become the key to differentiation.
Industrial chain: the whole machine controls the entrance, repurchase of consumables, software content and channel operation together to amplify the life cycle value of users
With its low cost, FDM/FFF has become the main distribution line for home, education, and small business scenarios; the whole machine acquires users, model platforms and slicing software increase activity and success rates, and undertakes repurchases of consumables, accessories, and upgraded equipment. According to CIC data, the global GMV for consumer 3D printing consumables increased from US$400 million in 2021 to US$1.3 billion in 2025, and is expected to reach US$7.3 billion by 2030. Online channels undertook major transformation, and the brand's official website and DTC system established users and accepted repurchases of official consumables and accessories. The industry expanded from disposable hardware sales to stock operation.
Related companies: Focus on machine leaders, listed machine platforms, and consumables supply chain extension opportunities
BamBulab, a subsidiary of Tuozhu Technology, has become the world's leading consumer-grade machine with high speed, multi-color, automated experience, and MakerWorld ecosystem. In 2025, the global entry-level market share was 37%, and it was extended to light production and printing farms. Creative 3D forms a matrix of 3D printers, consumables, scanners, laser engravers, and cloud platforms, with revenue of 3.127 billion yuan in 2025, and global channels and manufacturing delivery form the scale foundation. Jialian Technology relies on material modification, wire extrusion, and overseas production capacity to enter the consumables supply chain. Releasing production capacity in Thailand, increasing volume and utilization by leading customers is the key to improving business contributions and profits.
Risk Alerts
Demand for consumer-grade 3D printing fell short of expectations; increased industry competition and downward price risks; product safety and overseas compliance risks; new business volume and customer introduction fell short of expectations.