Sales are expected to reach one million by 2018.
3D printers will struggle to gain traction in consumer markets unless "killer applications" are developed for households, according to the latest research.
A study by analyst firm Juniper Research suggested sales will jump from an estimated 44,000 this year to one million by 2018, despite the technology having yet to capture the imagination of consumers.
Juniper put the expected growth down to the entry and growth of established printing vendors into the market, such as HP, and lower price-tags for the machines.
Nitin Bhas, who wrote the report, told CBR: "In the last year or two, prices for 3D printers have dropped significantly, with levels reaching the sub-$500 mark.
"The market is now witnessing an influx of local players which is also expected to bring down the value. We expect major vendors to launch entry level cheaper models along with their premium and high-end products."
However, the report said that a "killer application" still does not exist in the consumer market in order to drive the adoption mainstream.
In January 2014 Hershey’s, a US-based chocolate manufacturer, said they had partnered up with printing company 3D Systems to print chocolate and other sweets, while 3D printer Micro, which supports ABS, PLA, nylon and chameleon, is currently raising money on Kickstarter.
"Juniper contends that it is such developments, driven by a collaboration between high-profile retailers, vendors and tech companies, which will further enhance this niche segment," said Bhas.
"Creating consumer-focused applications in a personalised manner is critical, something that is unique and personalised to their preference which is not already available in stores."