Once firmly in the province of specialists, 3D printing is now being brought closer to the rest of us, due to the pioneering efforts of printer manufacturers such as Elegoo. We spoke to co-founder Kevin Wang.
Good day, Mr. Wang! It’s a pleasure to have you with us today. Since its founding in 2015, Elegoo has achieved remarkable growth. What key factors do you believe have been instrumental in driving the company’s rapid success?
It’s been quite a journey! Our growth has been driven by a strong focus on our customers. We constantly communicate with our users, gathering feedback and fostering a community where we can co-create products together. We want our users to feel that their voices are heard and that they play an integral role in shaping our products. By understanding and prioritizing their needs and creative aspirations, we’ve built a product lineup that appeals to everyone, from beginners to professionals.
Quality and affordability have also been at the heart of our strategy. We ensure that every product we ship is fully tested and proven in both performance and reliability. We never overpromise. We’ve worked hard to make 3D printing accessible to more people by breaking down barriers to entry. Take our recent Kickstarter campaign for the OrangeStorm Giga, for instance. Having launched it in early November 2023, we offered an early-bird option at just $1,250 for the first 100 backers and $1,500 for others. This pricing strategy has really resonated with the market, making large-format 3D printing more accessible, especially to small businesses that might have been put off by the high costs of traditional industrial machines. The campaign has been a huge success, raising over $3.3 million from more than 2,000 backers.
Another crucial factor in our success is our commitment to innovation. We stay ahead of the curve by continually updating and improving our products. This September, we’re excited to launch the Centauri Carbon, a printer that we believe will shake things up. Many desktop printers can be complicated and expensive, but the Centauri Carbon aims to change that. This agility and responsiveness have been key to Elegoo’s remarkable growth.
Elegoo’s products are now available in over 70 countries. How has your global expansion strategy evolved, and what have been the most significant challenges and successes in this journey?
Our global expansion has been driven by one simple observation: people everywhere want affordable and accessible 3D printing. We saw this demand, especially in key regions like North America and Europe, and knew we had to meet it.
To do this, we’ve expanded our reach to over 70 countries through a mix of direct sales on our official website, partnerships with major e-commerce platforms like Amazon, eBay, and Alibaba, and a strong network of local distributors. But it’s not just about getting our products out there; we’re big on communication. We prioritize clear and consistent interaction with our users and back it up with 24/7 after-sales support to ensure customer satisfaction.
Our global expansion has been driven by one simple observation: people everywhere want affordable and accessible 3D printing.
Of course, going global hasn’t been without its hurdles. One of the biggest challenges has been adapting to different cultures and languages. To tackle this, we’ve invested heavily in building a robust customer support team that understands local needs. We’re also working on establishing local operations and user experience centers to get even closer to our customers and offer the support they need, right where they are.
As for success, the numbers speak for themselves. In 2022, Elegoo’s total revenue surpassed US$118 million. And in 2023, we hit a major milestone, approaching the US$200 million mark. This incredible growth shows that our 3D printing solutions are resonating with users around the globe.
The recent launch of the Saturn 4 Ultra, featuring an AI-powered intelligent detection system, is a major milestone. How do you envision AI transforming the 3D printing experience for users, and what other AI-driven innovations are on the horizon?
AI is set to revolutionize the 3D printing experience by making it more precise, efficient, and accessible than ever before. With the Saturn 4 Ultra’s intelligent detection system, AI steps in to automatically spot and fix common 3D printing issues in real time. This not only boosts the reliability of the printing process but also enables users, even those with little technical know-how, to achieve professional-grade results.
Looking forward, we’re excited about the potential of AI to lower the barriers for everyone, especially those who aren’t familiar with 3D modeling. Imagine being able to generate 3D models using AI. This could open the door for many more people to enjoy 3D printing, expanding our user base and making the technology accessible to all.
We’re actively exploring other AI-driven innovations that could further enhance the user experience, making 3D printing more intuitive and unlocking new levels of creativity.
Could you share what initially attracted you to the field of artificial intelligence and how it has influenced your vision for Elegoo?
As AI started to become a key trend shaping the future of manufacturing, I saw incredible potential in using this technology to push the boundaries of what’s possible. It wasn’t just about jumping on the AI bandwagon; it was about solving real problems and making our products smarter, more efficient, and easier to use.
AI is certainly the future direction for us, but it’s not the end goal. The ultimate aim is to create products that genuinely improve people’s lives, and AI is one of the tools that will help us get there. At Elegoo, we’re committed to using AI and other technologies to make 3D printing more accessible and meaningful, so that everyone can benefit from this amazing technology. This focus on practical, impactful innovation is what drives our R&D and sets Elegoo apart.
Elegoo currently accounts for approximately 15 per cent of the global shipment volume of desktop 3D printers. What strategies do you have in place to sustain and further grow this market share?
To keep growing our market share, we’re homing in on a few key strategies. Continuous product innovation is at the heart of what we do. By investing heavily in R&D, we’re developing the next generation of 3D printing solutions that combine cutting-edge performance, affordability, and ease of use.
We’re also expanding our distribution channels. While our e-commerce model has been a huge success, we’re not stopping there. We’re forging strategic partnerships to get Elegoo products into more brick-and-mortar stores worldwide, making our printers even more accessible.
Finally, cultivating brand loyalty is crucial. When you deliver top-notch products and an exceptional customer experience, people come back. We’re committed to solidifying Elegoo as the go-to choice for desktop 3D printing, whether you’re a professional or a hobbyist. By sticking to these strategies, we’re not just maintaining our market share; we’re setting the stage for even bigger growth.
How do you plan to balance the need for cutting-edge technology with ensuring that your products remain user-friendly, especially for small business owners and individual creators?
At Elegoo, we’re focused on combining cutting-edge technology with user-friendly design, especially for small-business owners and individual creators. We don’t see these as opposing forces; in fact, they go hand in hand. By keeping things simple without sacrificing innovation, we’re making 3D printing accessible for household adoption, which is key to expanding its reach.
Cultivating brand loyalty is crucial. When you deliver top-notch products and an exceptional customer experience, people come back.
To meet the diverse needs of our customers, we’ve developed a range of product lines tailored to different use cases and skill levels. For instance, our flagship Saturn series is packed with advanced features for professional users, while our Mars series offers more accessible and beginner-friendly options at around the $300 price point. Meanwhile, our first industrial-grade printer, the OrangeStorm Giga, is specifically designed for small-business owners who need professional-grade results.
Our products are versatile, with applications ranging from gaming miniatures and garage kits to home decor, jewelry, fashion design, STEM education, and more. Ultimately, our goal is to empower every 3D printing enthusiast, regardless of their technical background, and to foster an environment where creativity knows no bounds.
How do the recent advancements in Elegoo’s product line align with the company’s broader goals for innovation? Could you share how these developments fit into your long-term vision?
The recent advancements in our product line, like the Centauri Carbon, really showcase how we’re aligning innovation with our long-term goals. The Centauri Carbon is designed to be one of the most user-friendly and reliable 3D printers on the market, and we’ve made sure it’s also affordable. We could have launched it earlier this year, but we resisted the urge. We’ve spent months rigorously testing it to ensure that it truly delivers on what we promise. It’s not just about putting out a product; it’s about making sure it fits into our bigger vision of turning 3D printers into household items, where they can function like mini-factories at home. But it’s not just for home use; it’s also a workhorse for professionals, including designers and small businesses.
We’ve noticed a growing trend of people using 3D printers not just for hobbies, but also to produce products that they can sell for a profit. As the technology continues to advance, I think we’re going to see this trend explode to another level. And with that in mind, we’ve been steadily growing as a company. We’re now close to 700 employees, and we’ve maintained a strong CAGR of over 40 per cent for the past three years. Our R&D team alone has seen over 50 per cent annual growth, which really underscores our commitment to innovation and staying ahead in the game.
With your background in marketing STEM kits and promoting 3D printing in STEM education, how crucial is it for Elegoo to continue supporting the integration of 3D printing in educational settings? What future plans do you have in this area?
Supporting the integration of 3D printing in educational settings is a crucial part of Elegoo’s mission, especially since our journey began with producing STEM kits. Education is deeply embedded in our DNA. That’s why we actively collaborate with academic institutions and student organizations worldwide. For example, our partnership with NYU Shanghai’s Interactive Media Arts (IMA) program involves providing cutting-edge 3D printers to help students unlock their full creative potential. By offering these advanced tools, we enable young innovators to seamlessly translate their design concepts into tangible, high-quality prototypes.
Beyond our work with NYU Shanghai, we have a strong history of sponsoring educational institutions and makerspaces globally. Whether it’s supplying 3D printing materials for competitions or equipment for engineering projects, our goal is to foster hands-on learning experiences. We’ve supported teams like the Concordia University Formula EV Racing Team in Canada, the Firenze Race Team from the University of Florence, and the Lenoir-Rhyne Rocketry Team by donating our Neptune 3 Pro and Mars 2 Pro 3D printers. These efforts encourage students to dive deeper into engineering, physics, and aviation, sparking their curiosity and innovation.
You’ve mentioned the role of AI in fostering a circular economy. Could you elaborate on how Elegoo is leveraging AI and other technologies to promote sustainability and reduce environmental impact?
At Elegoo, we’re deeply committed to sustainability and reducing our environmental footprint, and AI plays a key role in this effort. We’re using AI for predictive maintenance on our 3D printers, helping us anticipate issues before they become problems, which maximizes the lifespan of our machines and reduces waste. Additionally, we’re exploring ways in which AI can optimize the 3D printing process itself, suggesting the most efficient parameters to conserve both materials and energy.
Beyond technology, our commitment to the environment is reflected in our product offerings. We provide Elegoo Plant-Based Resin, primarily made from soybean, ensuring that it’s BPA-free with minimal odor and almost no pungent fumes. We’ve also introduced Elegoo PLA filaments, a biodegradable material that supports sustainability.
In 2023, we took another step towards environmental stewardship by partnering with One Tree Planted. Through this initiative, we’ve donated thousands of dollars to help plant trees around the world, contributing to reforestation efforts and reinforcing our dedication to a greener planet.
With your extensive experience in operations and marketing within the consumer electronics industry, what trends do you see as pivotal to the future of 3D printing? How is Elegoo preparing to adapt to these changes?
With my experience in the consumer electronics industry, I see some key trends that are shaping the future of 3D printing, and Elegoo is getting ready to ride this wave.
One of the most exciting trends is the potential for 3D printers to become as common as household items like robot vacuums or other smart home devices. With advancements in technology, 3D printers could very well be the next big thing, much like drones. The best part? You won’t need any technical background to benefit from it.
The second trend I see is the rise of 3D print farms, where small business owners purchase multiple printers to mass-produce customized products at a low cost. This trend is driven by the ease of use and the strong productivity of modern 3D printers. Elegoo is committed to supporting these entrepreneurs by continuing to develop reliable, high-performing printers that make mass production not just possible but efficient and scalable.
Finally, closely related to the rise of 3D print farms, there’s a growing shift where 3D printing is no longer just for prototyping but is becoming a go-to for producing end-use parts. As the technology continues to improve in speed, precision, and material diversity, more industries are turning to 3D printing for functional, final components. At Elegoo, we’re broadening our focus to include not just hobbyists and educational users, but also sectors like gaming miniatures, home decor, jewelry, and fashion design.
Looking ahead, what exciting developments or new products can we expect from Elegoo in the near future?
Looking ahead, you can expect some exciting developments from Elegoo aimed at raising awareness of 3D printing. We’re thrilled about the upcoming launch of our Centauri Carbon, designed to set new standards in the industry. Alongside this, we’ll be releasing new resin printers with larger build volumes later this year to unleash even more creativity. Beyond products, we’re also planning to partner with other brands and influential individuals to launch projects that will inspire and engage a broader audience, bringing 3D printing into the spotlight.
Finally, as a leader and innovator, how do you define success, both personally and for Elegoo? What legacy do you hope to build?
Success is about more than just numbers. While financial growth and market leadership are important, our true goal is to make 3D printers as common as household items. We want them to be cool, innovative, and accessible to everyone.
As a startup, we’re a simple and “pure” team, driven by a genuine passion for 3D printing technology. Our focus is on growing our community and making 3D printing a regular part of everyday life. We aim to create a legacy of innovation that genuinely benefits people and the planet. Ultimately, it’s about making the world a bit more exciting and pushing the future forward with every step we take.
Executive Profile
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