新情境数据显示AM硬件结构性重塑

The 3D printing hardware market is undergoing a significant structural transformation, according to the latest Q4 2025 data from market intelligence firm CONTEXT. The report reveals that growth is now sharply polarized at opposite ends of the price spectrum, while the middle segments face a prolonged contraction that has persisted for multiple consecutive quarters.

市场情报公司 CONTEXT 最新发布的 2025 年第四季度数据显示，3D 打印硬件市场正经历重大结构性转型。报告指出，增长现已在价格谱系的两端呈现严重两极分化，而中端市场则持续面临已连续多个季度的萎缩。

Aggregate system revenues rose 25% year-over-year in Q4 2025, with the most dramatic activity occurring at the low end. Entry-level systems priced below $2,500 saw shipments jump 47% year-over-year, translating to a 53% revenue increase. For the full year, entry-level units grew by 26%. This surge is almost entirely driven by Chinese manufacturers, who now account for over 90% of global shipments in this segment. Bambu Lab leads with a 37% market share, followed by Creality, Elegoo, and Anycubic. The financial momentum is building rapidly: Creality is reportedly approaching an IPO, and other segment leaders are in discussions over multi-billion-dollar investments from Chinese financial institutions.

2025 年第四季度，系统总收入同比增长 25%，其中低端市场表现最为抢眼。售价低于 2500 美元的入门级系统出货量同比增长 47%，收入增幅达 53%。全年来看，入门级设备增长 26%。这一激增几乎完全由中国制造商推动，目前该细分市场全球出货量中，中国厂商占比超过 90%。Bambu Lab 以 37% 的市场份额领先，紧随其后的是 Creality、Elegoo 和 Anycubic。财务势头正在快速积聚：据报道 Creality 正接近上市，其他细分市场领导者正在与中资金融机构就数十亿美元的投资进行谈判。

“Entry-level 3D printing has never been hotter,” said Chris Connery, VP of Global Analysis at CONTEXT. “Nowhere was this more evident than at the recent TCT Asia show in Shanghai, which again showcased ongoing technical innovation and frenetic consumer excitement.”

“入门级 3D 打印从未如此火爆，”CONTEXT 全球分析副总裁 Chris Connery 表示，”近期在上海举办的 TCT Asia 展会最能体现这一点，展会再次展示了持续的技术创新和狂热的消费者热情。”

At the top of the market, industrial systems above $100,000 posted a 12% unit increase in Q4 and 16% revenue growth, reversing a slide that had produced four consecutive years of full-year unit declines. This rebound is attributed partly to aerospace and defense momentum. Within the industrial segment, polymer systems led the quarter with a 23% increase, driven by a 39% surge in vat photopolymerization units from companies like Carbon and UnionTech. Metal powder bed fusion grew 24% in Q4, with Chinese vendors such as Bright Laser Technologies, Eplus3D, ZRapid Tech, and Farsoon Technologies leading in unit share, while EOS and Nikon SLM Solutions held top revenue positions. However, full-year metal shipments across all technologies still fell 4%, reflecting merger and acquisition disruption among Western metal binder jetting and material extrusion vendors.

在高端市场，售价超过 10 万美元的工业级系统在第四季度实现了 12% 的出货量增长和 16% 的收入增长，扭转了此前连续四年全年出货量下滑的趋势。这一反弹部分归因于航空航天和国防领域的增长动力。在工业级细分市场中，聚合物系统以 23% 的季度增幅领跑，其中来自 Carbon 和 UnionTech 等公司的槽式光聚合设备激增 39%。金属粉末床熔融在第四季度增长 24%，中国供应商如铂力特、易加三维、中瑞科技和华曙高科在出货量份额上领先，而 EOS 和 Nikon SLM Solutions 则占据收入榜首。然而，全年所有技术的金属设备出货量仍下降 4%，反映出西方金属粘结剂喷射和材料挤出供应商面临的并购重组冲击。

Between these two recoveries, the middle continued to erode. CONTEXT attributes much of this pressure to what it calls the “Bambu effect,” where demand for material extrusion shifts toward lower price points as Bambu Lab’s products set a new performance-per-dollar benchmark. Midrange systems fell 6% in Q4 and 12% for the full year, while professional systems declined 12% in the quarter and 15% for the year. Vat photopolymerization now represents 71% of professional segment units shipped globally, with Formlabs holding 38% full-year category share.

在这两大复苏趋势之间，中端市场持续萎缩。CONTEXT 将这一压力主要归因于所谓的”Bambu 效应”——随着 Bambu Lab 的产品树立了新的性价比基准，对材料挤出设备的需求正转向更低价格区间。中端系统第四季度下降 6%，全年下降 12%；专业级系统季度下降 12%，全年下降 15%。槽式光聚合设备目前占全球专业级细分市场出货量的 71%，Formlabs 以 38% 的全年份额领先。

For enthusiasts and professionals looking to capitalize on these trends, exploring the latest premium STL files can provide inspiration for projects that leverage the capabilities of both entry-level and industrial machines.

对于希望利用这些趋势的爱好者和专业人士而言，探索最新的优质 STL 文件可为项目提供灵感，充分发挥入门级和工业级设备的潜力。

CONTEXT projects growth across all price segments in 2026, with entry-level expected to record the highest growth rate and industrial shipments approaching double-digit percentage gains year-over-year. As the market continues to reshape, the focus is shifting from broad hype to a rigorous concentration on key verticals and strategic growth areas. Whether you’re a hobbyist or a professional, now is the perfect time to explore new 3D printing models that match the evolving hardware landscape.

CONTEXT 预计 2026 年所有价格细分市场均将实现增长，其中入门级市场预计录得最高增长率，工业级出货量将接近两位数百分比同比增长。随着市场持续重塑，焦点正从广泛炒作转向对关键垂直领域和战略增长区域的严格聚焦。无论您是爱好者还是专业人士，现在正是探索与不断演进的硬件格局相匹配的新3D 打印模型的最佳时机。

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