Additive Manufacturing Global Market to Reach $83.56 Billion by 2030 at a 21.2% CAGR
DUBLIN, Dec. 20, 2022 /PRNewswire/ -- The "Additive Manufacturing by Technology by Printer Type by Material by Application by Component and by End-User - Global Opportunity Analysis And Industry Forecast 2022-2030" report has been added to ResearchAndMarkets.com's offering.
Additive Manufacturing (AM) market, also known as 3D printing and additive layer manufacturing, was valued at USD 14.39 billion in 2021 and is projected to reach USD 83.56 billion by 2030 at a CAGR of 21.2% during the forecast period from 2022 to 2030.
The additive manufacturing market growth can be attributed to the rising demand for 3D digital printing in the aerospace industry as 3D printing enables rapid prototyping, replacement, consolidation of multiple parts, and building tooling fixtures. For instance, in May 2021, NASA partnered with Aerojet Rocketdyne to advance 3D printing technologies and its capabilities for liquid rocket engines in landers and on-orbit spacecraft.
On the contrary, high costs and lack of standardization of equipment restrains the growth of the industry. However, the introduction of 3D printers that can create prototypes of electronic components such as 3D printed circuit boards (PCBs), antennae, and capacitors is expected to create ample opportunities for the additive manufacturing industry in the coming years.
Segment Overview
The global additive manufacturing market is segmented on the basis of technology, printer type, material, application, component, end-user, and geography.
- Based on technology, the market is classified into stereolithography, fused deposition modeling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, electron beam melting, laser metal deposition, digital light processing, laminated object manufacturing, and others.
- Based on printer type, the market is segmented into desktop 3D printer and industrial 3D printer.
- Based on material, the market is categorized into polymer, metal, and ceramic.
- Based on application, the market is divided into prototyping, tooling, and functional parts.
- Based on the component, the market is divided into hardware, software, and services.
- Based on end-user, the market is segmented into industrial additive manufacturing and desktop additive manufacturing.
- Based on geography, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
Regional Analysis
The North America market is projected to hold the dominant share by 2030.
North America dominates the global additive manufacturing market share and is expected to remain dominant in the market throughout the forecast period. This can be attributed to factors such as high spending in the aerospace and defense industry that allows them to adopt cutting-edge technologies. For instance, in January 2022, GE Aviation announced that American multinational aerospace giant Boeing completed the first flight of its 777X jet, powered by twin GE9X engines. The engines are equipped with over 300 3D-printed parts.
Key Market Players
- Stratasys
- General Electric
- 3D Systems, Inc.
- Formlabs Inc.
- Xometry, Inc.
- Proto Labs,
- Velo3D, Inc.
- Desktop Metal, Inc.
- Markforged Holding Corporation
- Shapeways Holdings, Inc.
Market Dynamics
Drivers
- High Adoption of Additive Manufacturing in the Automotive and Aerospace Sector
- High Adoption of 3D Printing in the Healthcare Industry
- Cost-Effective Manufacturing Process
Restraints
- Lack of Standardization of Equipment to Impede the 3D Printing Market Growth
Opportunities
- Advances in Technology and Aggressive R&D Activities
Key Topics Covered:
1. Introduction
2. Additive Manufacturing Market - Executive Summary
3. Market Overview
4. Market Share Analysis
5. Global Additive Manufacturing Market, by Technology
6. Global Additive Manufacturing Market, by Printer Type
7. Global Additive Manufacturing Market, by Material
8. Global Additive Manufacturing Market, by Application
9. Global Additive Manufacturing Market, by Component
10. Global Additive Manufacturing Market, by End-User
11. Global Additive Manufacturing Market, by Region
12. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/ci3rq5
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