The National Bureau of Statistics: the Production of 3D Printing Equipment Increased by 51.6% in the First Half of 2024, Surpassing Even the Growth Rate of New Energy Vehicles.

PanDen 2024-8-7 22:25 Business

In the first half of 2024, GDP grew by 5.0% year-on-year, while the production of 3D printing equipment surged by 51.6%.

On July 15, 2024, the National Bureau of Statistics released the GDP figures for the first half of the year, highlighting a remarkable statistic: the production of 3D printing equipment increased by 51.6% year-on-year. This growth rate surpassed that of new energy vehicles and integrated circuits, making it the fastest-growing sector in industrial production as reported by the Bureau.

In the first half of 2024, GDP grew by 5.0% year-on-year, while the production of 3D printing equipment surged by 51.6%.

Preliminary calculations indicate that the GDP for the first half of the year reached 61.6836 trillion CNY, reflecting a 5.0% year-on-year increase based on constant prices. By sector, the primary industry's added value was 3.066 trillion CNY, a 3.5% increase; the secondary industry’s added value was 23.653 trillion CNY, up by 5.8%; and the tertiary industry’s added value was 34.9646 trillion CNY, growing by 4.6%. Quarterly, the GDP saw a 5.3% increase in the first quarter and a 4.7% rise in the second quarter. Quarter-on-quarter, the GDP grew by 0.7% in the second quarter.

Statistics show robust industrial production growth in the first half of 2024, with equipment manufacturing playing a significant supporting role. The value added by industrial enterprises above a designated size increased by 6.0% year-on-year.

By industry category, the value added by the mining industry grew by 2.4%, manufacturing by 6.5%, and the production and supply of electricity, heat, gas, and water by 6.0%.

Value added in equipment manufacturing increased by 7.8%, while high-tech manufacturing saw an 8.7% rise, outpacing the overall industrial growth rates by 1.8 and 2.7 percentage points, respectively.

By economic type, the value added by state-controlled enterprises increased by 4.6%; joint-stock enterprises by 6.5%; foreign-invested and Hong Kong, Macau, and Taiwan-invested enterprises by 4.3%; and private enterprises by 5.7%.

By product category, the output of 3D printing equipment, new energy vehicles, and integrated circuits increased by 51.6%, 34.3%, and 28.9% year-on-year, respectively. In June, the value added by industrial enterprises above a designated size grew by 5.3% year-on-year and by 0.42% month-on-month.

The manufacturing purchasing managers' index stood at 49.5% in June, unchanged from the previous month, while the business activity expectations index rose by 0.1 percentage points to 54.4%.

Continued Rapid Growth in China's 3D Printing Industry

Over the past decade, China’s 3D printing industry has grown substantially, evolving from conceptual hype to tangible industrial applications. Both industrial and desktop machines produced in China are now among the world’s leading equipment.

Search data over the past five years reveals a marked increase in interest in 3D printing.

Since 2019, the export of desktop 3D printers has maintained rapid growth. According to CONTEXT data, in 2023, 94% of the global shipments of entry-level (under $2,500) 3D printers were supplied by Chinese manufacturers.

Chinese customs data indicates that from January to May 2024, China exported 1.465 million 3D printers (excluding parts), representing a 37.3% increase from the 1.067 million units exported during the same period last year.

In the “3D Printer Brand Influence Report (Q1 2024)” jointly released by Yishi(易势) and National Business Daily, five of the top ten 3D printer companies were Chinese, with all ranking highly.

Additionally, there has been rapid growth in the Chinese market for desktop 3D printers, particularly with the rise of 3D printing farms and increased usage among personal users. Panda3dp.com has identified over a hundred 3D printing farms, each equipped with dozens to thousands of 3D printers. On platforms like Bilibili, numerous creators utilize 3D printers to produce plastic components, rapidly bringing their designs to life.

A notable example is a 3D printing farm in Foshan(佛山三个月球打印农场) with nearly 1,000 desktop 3D printers.

Panda3dp.com searched for the keyword "3D printer" on e-commerce platforms such as JD.com and Taobao, sorting the results by sales. It’s evident that the leading 3D printers have over 10,000 reviews, with subsequent models surpassing 5,000 reviews, a previously unimaginable figure. This suggests that 3D printers are becoming increasingly popular in the consumer market, with single-brand sales on JD.com potentially reaching 100,000 units.

Conclusion

As of 2024, many industries report facing challenges; however, the 3D printing industry continues its rapid growth, despite intense competition, marking a significant achievement.

Market Values of 3D Printing Listed Companies Have Fallen Across the Board, Some Have Already Gone Bankrupt Annual Exports Expected to Surpass 10 Billion CNY, with 1.829 Million Units of Chinese 3D Printers Exported in the First Half of 2024