The additive manufacturing market was valued at US$ 10,383.02 million in 2022 and is projected to reach US$ 25,171.78 million by 2028; it is expected to grow at a CAGR of 16.0% from 2022 to 2028.
The additive manufacturing market has experienced significant growth and adoption over the recent past and is expected to experience substantial growth and acceptance in the future. The primary reason for the surged adoption of additive manufacturing is the increase in the need for automation and cost-effective technologies in the manufacturing sector. Implementing additive manufacturing technologies in manufacturing facilitates the mass production of complex-shaped parts with reduced lead times. Additive manufacturing has replaced traditional methods due to its high accuracy and speed of production. Also, additive manufacturing is transforming production in a range of applications.
In 2021, North America held the largest revenue share of the global additive manufacturing market. High demand from manufacturing industries such as automotive, healthcare, and consumer goods is mainly driving the additive manufacturing market in the region. Additive manufacturing is highly relevant for various industries. The automotive industry is one of the prime users of additive manufacturing. The competitive and dynamic nature of the automotive industry results in the development of new technologies in North America. In addition, an increase in the use of additive manufacturing among OEMs would fuel the need for better supply chains and innovations. The mass market of industries using 3D printing, including the automotive industry, holds an essential position to widespread the implementation of technologies that further helps lower the price of both materials and machines. Companies in the region mostly use deposition modeling technology. The growing industrialization is the major factor for the rising demand for additive manufacturing in the region.
Global Additive Manufacturing Market Breakdown – by Region
Emergence of Factory Automation and Cloud-Based Technologies
The connected factory is an idea that has been evolving over the past few years. It means expanding the power of the web to link machines, sensors, computers, and humans to enable new levels of information monitoring, collection, processing, and analysis. These devices provide more precision and can translate collected data into insights. For example, they can help determine the amount of voltage used to produce a product or to understand better how temperature, pressure, and humidity impact performance. Advancements in cloud technology have enabled organizations worldwide to access essential information quickly and created easy availability of tools and data to people, irrespective of place and time. Further, the Industry 4.0 initiative is expected to provide a long-term vision and future of the manufacturing set-up. These factors are responsible for driving the additive manufacturing market.
End User Insights
Based on end user, the global additive manufacturing market has been segmented into automotive, aerospace, healthcare, industrial manufacturing, and others. The industrial manufacturing segment held the largest market share in the global additive manufacturing market in 2021. The global manufacturing industry is rapidly expanding as emerging regions are increasingly investing in adopting manufacturing plants. The expansion in the manufacturing industry is further highly driven by economic growth worldwide. This technological revolution in the factories has encouraged the manufacturing industries to further invest in emerging technologies to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry is expected to drive the demand for prototyping and the use of 3D technologies worldwide.
Additive Manufacturing Market, by End User – 2021 and 2028
3D Systems; Stratasys, Inc.; Arcam AB; EOS GmbH; 3T RPD, LTD.; Envisiontec Gmbh; GPI Prototype and Manufacturing Services; 3D Hubs; Sciaky, Inc.; and ProtoCAM are among the major players operating in the global additive manufacturing market. Players operating in the global additive manufacturing market are constantly focusing on strategies such as investments in research and development activities and new product launches.
- Progressive industry trends in the additive manufacturing market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the additive manufacturing market from 2020 to 2028
- Estimation of global demand for additive manufacturing
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trend and outlook, as well as factors driving and restraining the growth of the additive manufacturing market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The size of the additive manufacturing market size at various nodes
- Detailed overview and segmentation of the market, as well as the additive manufacturing industry dynamics
- Size of the additive manufacturing market in various regions with promising growth opportunities
The global additive manufacturing market is segmented based on material, technology, end user, and geography. Based on material, the global additive manufacturing market is segmented into plastic, metal, ceramics, and others. In terms of technology, the global additive manufacturing market is segmented into selective laser sintering (SLS), stereolithography (SLA), fused deposition modeling (FDM), and others. Based on end user, the global additive manufacturing market is segmented into automotive, aerospace, healthcare, and industrial manufacturing.
- 3D Systems
- Stratasys, Inc.
- Arcam AB
- EOS GmbH
- 3T RPD, LTD.
- Envisiontec Gmbh
- GPI Prototype and Manufacturing Services
- 3D Hubs
- Sciaky, Inc.