Global Additive Manufacturing Market Forecast 2024-2033: Estimated Market Size And Growth Rate
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The additive manufacturing market has experienced exponential growth, rising from <$16.14 billion in 2023 to <$19.74 billion in 2024, with a compound annual growth rate (CAGR) of 22.3%. This remarkable expansion is attributed to the increasing need for prototyping and rapid prototyping, customization demands, and the capability to handle complex geometries. Additionally, reduced material waste and greater adoption in aerospace and healthcare industries for cost-effective low-volume production have significantly contributed to this growth. Looking ahead to 2028, the market is projected to continue its upward trajectory, reaching <$41.69 billion with a CAGR of 20.6%. Expected growth drivers include mass customization demands, advancements in healthcare and bioprinting applications, expanded use in automotive and energy sectors, integration with traditional manufacturing processes, and support from regulatory frameworks and standards development. Major trends during this period will include the influence of Industry 4.0 and digitalization, innovations in materials, technological advancements in 3D printing, multi-material and hybrid printing, and the scaling up of production with additive manufacturing (AM).
The increasing demand for 3D printing is expected to propel the growth of the additive manufacturing market going forward. The method of creating three dimensional solid objects from a digital file is known as 3D printing. 3D printing helps additive manufacturing by making a cost-effective and flexible way to produce customized parts and used for preoperative planning. For instance, according to AZoNetwork UK Ltd., a UK-based marketing science company, a little over 2.2 million 3D printers were shipped in 2021, and by 2030, there will be a shipment of 21.5 million 3D printers. Therefore, increasing demand for 3D printing is driving the growth of the additive manufacturing market. The market size for additive manufacturing was $12.4 billion in 2023, and it is projected to reach $32.7 billion by 2028.
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What Are The Key Trends That Influence Additive Manufacturing Global Market Report 2024 Market Share Analysis?
Technological innovation is a key trend gaining popularity in the additive manufacturing market. Companies in this market are introducing new technologies to expand their business. For instance, in March 2021, Stratasys, Ltd., an Israel-based 3D printer manufacturing company, launched powder bed fusion technology. This additive manufacturing technique forms parts by adding material, unlike traditional forming procedures like milling.
Which Market Players Are Driving Growth In The Additive Manufacturing Global Market Report 2024 Market?
Major companies operating in the market are General Electric Company, ANSYS Inc., Höganäs AB, Greatbatch Inc., Renishaw plc, Arburg GmbH + Co KG, Stratasys Ltd., EOS GmbH, 3D Systems Corporation, Proto Labs Inc., Materialise NV, MakerBot Industries LLC, SLM Solutions Group AG, Markforged, Arcam AB, The ExOne Company, Envisiontec GmbH, EnvisionTEC LLC, Ultimaker BV, Optomec Inc., Voxeljet AG, ExOne Company, Mcor Technologies Ltd., Danae Inc., Made In Space Inc., CleanGreen 3D, American Additive Manufacturing LLC, Biomedical Modeling Inc., Yamazaki Mazak Corporation, GPI Prototype & Manufacturing Services Inc., Print Parts Inc., Applied Rapid Technologies Corporation, 3DEO Inc., Sciaky Inc., Thales Digital Factory
How Is The Global Additive Manufacturing Global Market Report 2024 Market Segmented?
The additive manufacturing market covered in this report is segmented –
1) By Technology: Stereolithography, Polyjet Printing, Binder Jetting Printing, Laser Sintering, Electron Beam Melting, Fused Deposition Modeling, Laminated Object Manufacturing, Thermal Dimensional Printing, Other Technologies
2) By Material Type: Plastics, Metals, Ceramics, Other Materials
3) By Application: Aerospace, Automotive, Consumer Products, Healthcare, Government And Defense, Industrial Or Business Machines, Education And Research, Other Applications
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The Additive Manufacturing Global Market Report 2024 Global Market Report 2024 provides an overview of the additive manufacturing global market report 2024market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The additive manufacturing global market report 2024 market forecast analyzes additive manufacturing global market report 2024 market size, additive manufacturing global market report 2024 market share, leading competitor and their market positions.
The Table Of Content For The Additive Manufacturing Global Market Report 2024 Market Include
1. Additive Manufacturing Global Market Report 2024 Market Executive Summary
2. Additive Manufacturing Global Market Report 2024 Market Segments
3. Additive Manufacturing Global Market Report 2024 Market Size And Template Market Growth Rate
4. Key Additive Manufacturing Global Market Report 2024 Market Trends
5. Major Additive Manufacturing Global Market Report 2024 Market Drivers
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25. Key Mergers And Acquisitions In The Additive Manufacturing Global Market Report 2024 Market
26. Top Additive Manufacturing Global Market Report 2024 Companies
27. Additive Manufacturing Global Market Report 2024 Market Opportunities And Strategies
28. Additive Manufacturing Global Market Report 2024 Market, Conclusions And Recommendations
29. Appendix
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