(MENAFN- GlobeNewsWire - Nasdaq) The global 3D printed shoes market size is anticipated to grow from USD 2 billion to USD 18.62 billion in 10 years. The market will experience rapid growth due to technological advancements in 3D printing during the forecast period.
Newark, Aug. 01, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2 billion in 2023 global 3D printed shoes market will reach USD 18.62 billion in 2033. Additive manufacturing, commonly known as three-dimensional printing, is another name for 3D printing. By building layers upon layers in accordance with the design that is supplied into the system, it essentially constructs a thing in its entirety. The term "3D printed shoes" refers to things made possible by 3D printing technology. Advanced printing gear is utilised to materialise computer-sided designs, which are facilitated by specialised materials and complex software. More personalisation is possible with 3D printing. It also makes it possible to create intricate designs. Since it is challenging to produce footwear more individualised and comfortable for the wearer through traditional manufacturing, 3D printing technology is revolutionising the footwear industry. According to the user, comfort, practicality, and aesthetics are all taken care of by 3D printing. Due to its ability to make shoes that are tailored to the demands of athletes and patients, it is highly valued in both sports and medical. Additionally, it lessens waste, which is beneficial given the climate issue and environmental degradation. It can also be scaled.
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Key Insight of the Global 3D printed shoes Market
North America will dominate the market during the forecast period.
The most cutting-edge, modern technology is available in North America, which fuels the market for 3D printing innovations. Innovation in 3D printing technologies is further strengthened by the expanding research and development initiatives supported by both public and commercial financing, which results in improved printing outcomes and products. In addition, the market's demand is bolstered by the robust fashion and entertainment sectors, where influencers and celebrities use 3D printed shoes and other products to display their personal style on social media. Due to the influence of these celebrities and influencers, consumers with more disposable income are more likely to purchase products like 3D printed shoes, which drives up demand in the market. An active sports sector that places a strong focus on customising footwear with excellent comfort, utility, and performance additionally boosts the market's growth.
In 2023, the non-athletic segment dominated the market with the largest market share of 55% and revenue of 1.10 billion.
The type segment is divided into athletic and non-athletic. In 2023, the non-athletic segment dominated the market with the largest market share of 55% and revenue of 1.10 billion.
In 2023, the women segment dominated the market with the largest market share of 51% and revenue of 1.02 billion.
The end-user segment is divided into men, women and kids. In 2023, the women segment dominated the market with the largest market share of 51% and revenue of 1.02 billion.
Advancement in market
4Steps is a concept design series of 3D-printed trainers for youngsters aged 6 to 14 that can be customized and adjusted. It was created by product designer Michele di Carlo. To accommodate their expanding feet, these kicks can be taken apart and stretched to accommodate up to five distinct shoe sizes. The lightweight trainers are customizable and only weigh about 123 grammes. Additionally, they use molded components with a honeycomb structure to add even more breathability and lightness. The fact that these children's shoes are 3D printed increases 4Steps' airiness. In this instance, the children don't have to use extra energy running about to drag or carry their shoes while they pursue something.
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Market Dynamics
Driver: The growing market for customised goods.
Standard sizing for mass-produced footwear cause discomfort for a lot of people. Customers are not happy with the typical styles, forms, sizes, and colours. the expanding body of data on the harmful effects of wearing regular shoes, which can result in foot disfigurement and have long-term negative effects that may impair walking. A growing number of people are requesting customised shoes with improved soles, shoe designs, cushioning, materials, and fitting for more comfort, increased functionality, and improved performance as a result of these worries and critiques. This customisation is made possible via 3D printed shoes. Athletes can build shoes according on their size and sport, which is highly valued in the sports industry. By letting customers create shoes that reflect their own tastes and styles, they also provide them the opportunity to exhibit their individuality. Thus, the growing need for customised clothing and accessories will support the expansion of the worldwide 3D printed shoe market.
Restraints: Expense factors.
The technology of 3D printing is quite new. Several industries are testing it, including manufacturing, retail, medicine, and automotive. Hardware and software that are highly developed and complex are needed for the 3D printing setup. Specialised materials needed for printing are also needed. Specialised software is required to make printing easier. Furthermore, 3D printing requires the use of qualified experts to operate. These components all have high costs. This means that there will be fewer facilities processing shoes made using 3D printing. Because there are fewer suppliers, retail prices must rise to offset costs. The reduced customer demand is caused by the high retail charges. Cost consideration will therefore impede market expansion.
Opportunities: developments in technology.
Considering how fresh the technology is, there is a lot of room for innovation and development in 3D printing. There has been an increase in 3D printing technology research and development because of the technology's potential to revolutionise a wide range of sectors. The performance of printing has improved as a result. More printer customisation has also been made possible by innovations. The market's expansion has been further aided by material advancements. An increase in adoption and teamwork to produce novel items has been attributed to user-friendly operations. Software advancements have allowed for the inclusion of intricate designs in applications, facilitating the 3D printing of an extensive range of footwear. Thus, throughout the projected period, the growth of the worldwide 3D printed shoes market will be propelled by technological improvements.
Challenges: Material limitations.
The dominance of traditional or conventional footwear making is attributed to its well-tested and durable products. whereas, 3D printed shoes are not well-tested and established norm in the market. the durability, visual appeal, ad performance of 3D printed shoes depends on the material use, design and printing process. material selection is highly significant as it majorly impacts the durability, functionality, and wearability of the shoes. The nascent stage of 3D printing leaves less options when it comes to materials. These materials have inherent discrepancies that may impact its structural integrity in the face of everyday wear and tear. Therefore, material limitations will challenge the market's growth.
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Some of the major players operating in the global 3D printed shoes market are:
. Adidas AG
. ECCO
. Feetz
. New Balance
. Nike Inc.
. Peak Sport Shop
. PUMA SE
. Skechers USA Inc.
. Timberland
. Under Armour Inc.
Key Segments covered in the market:
By Type
. Athletic
. Non-Athletic
By End-User
. Men
. Women
. Kids
By Region
. North America (U.S., Canada, Mexico)
. Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
. Asia-Pacific (China, Japan, India, Rest of APAC)
. South America (Brazil and the Rest of South America)
. The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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