3D printing has shifted from being a hobby of a few to entering the broader view of the general public.
EqualOcean has received exclusive information that Bambu Lab, a leading global manufacturer of consumer-grade 3D printers, is expected to generate CNY 1.5 billion in revenue by 2023.
According to their Double 11 sales report, Bambu Lab's P1, X1, and A1 series dominated the desktop 3D printer category on Tmall and JD.com. Their Double 11 sales increased by 280% compared to the 618 shopping festival. Industry speculation suggests that Bambu Lab's monthly sales have surpassed CNY 100 million.
Bambu Lab concluded its Series B financing on October 8, 2023, securing investments from Ming Shi Investment, Temasek, True Light, Wuyuan Capital, among others. The funding amount remains undisclosed. Previously, Tiertime Technology, Bambu Lab's parent company, received financing from Ming Shi Investment in May 2021 and strategic investment from IDG Capital in early 2022.
Founded in 2020 and headquartered in Shenzhen, China, Bambu Lab focuses on consumer technology, primarily desktop 3D printers. It has R&D centers in Shenzhen and Shanghai, and an office in Austin, USA. In July 2020, Dr. Tao Ye and four other executives departed from DJI to start developing Bambu Lab's 3D printer. Later, on November 9, 2020, Shenzhen Bambu Lab Co., Ltd. was established, with Dr. Tao Ye as CEO. Bambu Lab X1 was crowdfunded on Kickstarter from May 31 to June 30, 2022, with 5,575 supporters and a total of 47.28 million yuan raised.
Dr. Tao Ye is a former product manager of Mavic Pro at DJI and head of the consumer drone department. He holds expertise in aerodynamics and motor design engineering and has a doctoral degree in fluid dynamics from Germany. During his studies, he was honored with the Outstanding Student Presentation award by the American Geophysical Union. Dr. Ye is also an enthusiast in model airplanes.
Recognized as a rapid prototyping technology, 3D printing (also known as additive manufacturing) integrates various disciplines, including information networks, advanced materials, and digital manufacturing. It constructs three-dimensional objects by digitally layering materials. This technology is acknowledged for its ability to swiftly produce intricate structures, precisely control microstructure, and efficiently utilize materials. The Economist has hailed it as a key driver of a new industrial revolution.
The 3D printing industry was included in the 'National High-tech Research and Development Plan' in 2012. Since then, various governmental departments have implemented policies that emphasize technological innovation, standardization, and application scenarios. The '14th Five-Year Plan for Intelligent Manufacturing Development' highlights core technology R&D in the industry, indicating continued expansion in downstream applications. This is expected to encourage more industrial 3D printing companies to enter the consumer market, which is seen as an untapped opportunity.
The global market for consumer-grade 3D printers reached a size of USD 2.503 billion in 2022 and is expected to reach USD 7.1 billion by 2028, with a compound annual growth rate of 19.2%. Although the market was initially dominated by European and American brands, new players have entered the market. In 2022, companies such as KOKONI and LotMaxx received investments from backers such as Xiaomi and Dezhou United Petroleum Technology Corp. In addition to Bambu Lab, other sector leaders include CREALITY, ANYCUBIC, ELEGOO, and Anke Innovation.