Additive Manufacturing Market to Surpass 76.16 Billion by 2030 Drives Due to the Technological Advancements
SkyQuest projects that the additive manufacturing market will attain a USD 76.16 billion value by 2030, with a CAGR of 20.8% over the forecast period (2023-2030). The global additive manufacturing market is propelled by continuous technological advancements. Innovations in 3D printing materials, processes, and software are expanding the scope of additive manufacturing applications. Companies are increasingly adopting these cutting-edge technologies to improve product development cycles, reduce costs, and enhance customization, driving the market’s growth.
Westford USA, Jan. 03, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, additive manufacturing market is witnessing significant expansion across diverse industries. From aerospace and healthcare to automotive and consumer goods, various sectors are increasingly utilizing 3D printing for prototyping, production, and customization. This widespread adoption is creating a robust and resilient market ecosystem, with each industry contributing to its growth.
Browse in-depth TOC on the “Additive Manufacturing Market”
- Pages – 157
- Tables – 179
- Figures – 79
Sustainability concerns and environmental regulations are encouraging companies to embrace additive manufacturing. 3D printing’s ability to reduce material waste and energy consumption is aligning with global sustainability goals. As organizations prioritize eco-friendly practices, the additive manufacturing market is poised to benefit from a growing demand for greener and more efficient production methods.
Prominent Players in the Additive Manufacturing Market
- Stratasys Ltd.
- 3D Systems Corporation
- EOS GmbH
- Materialize NV
- General Electric Company (GE Additive)
- SLM Solutions Group AG
- Arcam AB
- EnvisionTEC GmbH
- HP Inc.
- Voxeljet AG
- Renishaw plc
- Optomec Inc.
- Concept Laser GmbH
- Ultimaker BV
- Desktop Metal, Inc.
- Carbon, Inc.
- Prodways Group
- XYZprinting, Inc.
- The ExOne Company
- Nano Dimension Ltd.
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Software Segment is Expected to Grow the Market Due to their Advanced Software Solutions
Software is emerging as a rapidly growing segment within the additive manufacturing market. Advanced software solutions facilitate design, simulation, and workflow optimization. Their importance is rising as they enable increased automation, customization, and efficiency in 3D printing processes. As companies seek digital solutions for production, software is experiencing rapid adoption and development.
North America holds a dominant position in the additive manufacturing market. It boasts a robust ecosystem of industry leaders, advanced infrastructure, and substantial investments in research and development. Key factors include a mature industrial landscape, strong governmental support, and a high adoption rate across sectors.
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Hardware Segment is Expected to Dominate the Market Due to its Tangible Nature
The hardware segment in the additive manufacturing market comprises 3D printers, materials, and associated equipment. It holds a dominant position due to the tangible nature of these components, which are essential for physical production. Factors such as improved printer capabilities and materials innovation continue to drive growth, making hardware a foundational pillar of the industry.
Regional markets in the Asia Pacific is a rapidly growing region in the additive manufacturing market. With increasing industrialization, a large manufacturing base, and a growing focus on technology, the region is witnessing exponential growth. Factors like cost-effective production, a booming healthcare sector, and expanding aerospace industries are propelling Asia Pacific’s rapid advancement in additive manufacturing.
A comprehensive analysis of the major players in the additive manufacturing market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in the Additive Manufacturing Market
- In August 2023, BASF Venture Capital invested $25 million in Arevo, a company specializing in composite 3D printing, to accelerate the development of lightweight materials for various industries.
- In February 2023, Renishaw, a UK-based engineering and scientific technology firm, was acquired by Sandvik for approximately £5.7 billion, strengthening its additive manufacturing portfolio.
Key Questions Answered in Additive Manufacturing Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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