世界第一、高门槛、高天花板，新一代的中国硬件创业。 文 丨 贺乾明 黄俊杰 制图 丨 黄帧昕 编辑 丨 黄俊杰 一群参与打造世界第一产品的 工程师决定离职创业 ，纠结快一年，选了个最初 5 分钟被自己毙掉的冷 门项目；产品发售第三年，公司年营收已经超过 100 亿。这是 3D 打印机行业如今的第一名，拓竹的创 业故事。 "我知道戏剧性的过程可能会更有故事性，但实际上不是那么戏剧性。" 拓竹创始人、CEO 陶冶笑着 说。这可能并不是谦虚。 拓竹是一群工程师精确计算、精确执行的结果。 "发展完全按照他们的规划，甚至产品发售头两年的收入和市场占有率误差非常小。"IDG 资本合伙人邵 辉回看拓竹创业初的投资文件后对我们说。IDG 是唯一投资拓竹三轮的机构，唯一的遗憾是公司盈利太 快，第二轮以后就不需要融资了。 在拓竹出现之前很多年，消费级 3D 打印机已经不再是个性感的东西，全球市场总规模不过五六十亿 元。主要因为难用——用户花在调试机器上的时间超过了打印本身，还经常失败。 拓竹第一个把 3D 打印机变成了有基础 AI 能力的小机器人，加装了摄像头、激光雷达、重力感应等传 感器，把原本需要人工干预的诸多环节完全自动化 ...

周末看到一个好玩的东西。 3D领域的NanoBanana也来了。 中间有一句比较重要的功能，是我觉得非常有意思的： 可以通过提示进行局部编辑。 玩过NanoBanana的肯定很熟了。 用嘴来修改一切，真的变成了一个是未来必然的趋势。 图片领域有Nano Banana、视频领域有可灵o1，现在3D领域，hyper3D带着他们的Rodin Gen-2也来了。 这现在应该是第一个也是唯一一个，能用嘴编辑3D模型的AI3D产品。 而且是你能上传任意的三方模型上去，进行修改和编辑。 算了补全了一块有意思的拼图。 还是蛮有意思的。 放下他们的视频。 真的，2019年我在学C4D学Blender，在那kuku的手拉box在那渲染模型的时候，真的没想过这么一天。 原来动动嘴，就可以改模型了啊... 网址在此： https://hyper3d.ai/ 进来以后，有两个卡片，一个是图生3D模型。 而这个功能，才是我觉得，最牛逼的。 你完全可以对任意的三方模型，进行二创。 比如我随手可以去 sketchfab上下载一个很爆的模型扔到了Blender里，它长这样。 另一个就是直接上传任意一个obj、fbx之类的3D模型，就可以直接进 ...

Core Insights - Bambu Lab, a rapidly growing company in the 3D printing sector, has achieved the highest sales in desktop 3D printers globally for three consecutive years and is valued at approximately $10 billion [1] - The global 3D printer market is projected to reach $24.61 billion in 2024, with a compound annual growth rate (CAGR) of 18.5% from 2024 to 2034 [3] - The consumer-grade 3D printer market is expected to see annual shipments grow from over 4 million units to 20 million units in the next five years, and then to 50 million units in the following five years [3] Company Overview - Bambu Lab's revenue is estimated to be around 6 billion RMB in 2024, with a shipment volume of approximately 1.2 million units, capturing about 29% of the global consumer-grade 3D printer market [1] - The company was founded by a team from DJI, which has contributed to its rapid growth and technological advancements in the 3D printing space [1][7] Market Dynamics - The competition in the consumer-grade 3D printer market is intensifying, with major players like Tencent and DJI investing in various companies, including Bambu Lab and Creality [5][12] - Bambu Lab has partnered with Tencent Cloud to integrate its 3D model platform MakerWorld with Tencent's 3D generation technology, which is seen as a key driver for market growth [3] Competitive Landscape - The "Shenzhen Four Kings" of consumer-grade 3D printers, which includes Bambu Lab, Creality, Zongwei Lifan, and Smart 3D, dominate approximately 95% of the entry-level 3D printer market [16][17] - Bambu Lab's current revenue significantly exceeds that of its competitors, with Smart 3D projected to reach 1.6 billion RMB in 2024 and 2.5 billion RMB in 2025 [13] Technological Advancements - Bambu Lab has leveraged technologies from its founders' experience at DJI, such as brushless motors and laser radar, to enhance the performance and capabilities of its 3D printers [7][9] - The integration of generative AI is lowering the barriers for users in 3D modeling, which is expected to further stimulate the growth of the 3D printing market [3] Future Outlook - The consumer-grade 3D printer market is still in its early development stages, with significant growth potential as major tech companies like Tencent and DJI continue to invest and innovate [22] - The market is being compared to the early days of the robotic vacuum cleaner industry, suggesting a potential for explosive growth in the coming years [22]

Core Viewpoint - The resurgence of consumer-grade 3D printing is attracting significant attention from mainstream capital, highlighted by recent investments in companies like Snapmaker and 创想三维 [3][4]. Group 1: Industry Trends - The 3D printing sector has seen a notable increase in investment activity, with nearly 40 financing events recorded this year, marking a five-year high [4][7]. - The consumer-grade 3D printing market is experiencing a compound annual growth rate (CAGR) exceeding 30% over the past three years, with major brands in Shenzhen achieving annual revenues around 1 billion yuan [7][8]. - The introduction of generative AI modeling tools has significantly lowered the barriers for ordinary users to create 3D models, enhancing user engagement and driving sales [11][12]. Group 2: Company Highlights - Snapmaker's product, Snapmaker U1, raised $22,020 in crowdfunding, setting a record on Kickstarter and attracting over 20,000 supporters [6]. - 创想三维, established in 2014, reported a revenue of 1 billion yuan in 2020 and projected total revenue of 2.288 billion yuan for 2024, with a CAGR of 30.4% [8]. - Snapmaker's innovative approach to multi-color printing has reduced printing time from 20-30 hours to just 5-6 hours, addressing significant industry pain points [7]. Group 3: Investment Landscape - The valuation of拓竹科技 has surpassed 30 billion yuan, reflecting strong market interest despite initial hesitance from investors [15]. - The competitive landscape is intensifying, with companies like拓竹科技 quickly responding to market demands by launching new products shortly after Snapmaker's success [8][15]. - The decline in consumer-grade 3D printer prices by 60% over the past three years is facilitating broader market adoption [13].