DUBLIN–(BUSINESS WIRE()–The report “Additive Manufacturing Market Forecasts From 2022 to 2030” has been updated ResearchAndMarkets.com’s offering.
Market size for additive manufacturing is forecast to experience a compounded annual increase rate of 29.86% and grow to US$65148.103 Million by 2027. This compares to US$10,459.014 millions in 2020.
3D printing is an innovative manufacturing technique that allows for the production of stronger, lighter parts. Another technological advancement is the transition from analogue to electronic operations.
Communication, imaging, engineering and architecture all have experienced digital revolutions over the past decade. In an identical fashion, manufacturing can also benefit from AM’s digital flexibility, efficiency, and speed. Additive manufacturing, as the name suggests, involves adding materials to an object in order to make it.
3D printing, rapid prototyping and interchangeably used to mean additive manufacturing. However, each process can be considered a part of additive manufacturing. Although additive manufacturing might seem new to many, it has been in existence for decades. This market is expected to grow significantly because of the combination of improved performance, more complex geometry, and simpler production.
The forecast period will see the market for additive manufacture grow because of the increasing demand for additive manufacturing (or 3D printing technology) in healthcare and the manufacturing sectors.
This is driving up the demand for 3D-printed devices as the electronics industry is growing at an unprecedented pace. In order to increase the production of 3D printed electronics, such as solar cells, circuit boards and resistors in Asia Pacific, there is a high demand for additive printing machines. They can produce active or inert parts. The Ministry of Electronics and Information Technology (MeitY), in February 2022 announced the launch of a national plan to support additive manufacturing collaboration. It aims to foster cooperation between academia, government and other related industries, making India an international hub for 3D printing innovation and design.
To capitalize on this rising trend, market participants around the globe are taking proactive steps to strengthen their position in the market. In September 2021 Markforged, an American public company in additive manufacturing, released the Eiger fleet of 3D printers to help drive scale additive manufacturing. Eiger fleet, a cloud-based software platform that aids companies in growing their additive manufacturing operations, is available. In a similar fashion, Mitsubishi Electric (a well-known Japanese company) released a brand new version 2 of its AZ600 wire laser metal 3D printer in February 2022.
This release does not just show that large organizations are more open to 3D printing, but it also shows Mitsubishi’s commitment to sustainability. The initiative is part their efforts to reduce CO2 emissions from metal fabrication. Multi-startups will also benefit from the flexibility and versatility of additive manufacturing technology, which is increasing market share. Glowforge and Mighty Buildings are just a few of the many start-ups that have emerged.
The start-ups also attract investments by rapidly expanding their reach in the market through strategic developments. In June 2022, for instance, Triditive, a Spanish 3D printer announced the closure of its pre-Series A funding round with €5 million. It plans to use the additional funds to develop its AMCELL 3D printer modular AMCELL in order to be positioned as a solution to “quick supply chain problems”.
Companies Mentioned
- 3D Corporation
- Optomec, Inc.
- Siemens AG
- Renishaw Plc
- General Electric Company
- Wipro Limited
- EOS Gmbh
- EXone Company
- Materialise NV
- EnvisionTEC
Segmentation of the Market
By Component
- Hardware
- Software
- Services
- Material
Technology
- Selective Laser Sintering
- Laser Sintering
- Electron Beam Melting (EBM)
- Modeling of Fused Disposition
- Stereolithography
By end-user industry
- Aerospace & Defense
- The Health Care
- Automotive
- Construction
- Consumer
Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- UK
- Spain
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Asia Pacific
- China
- India
- Japan
- Taiwan
- Thailand
- Indonesia
For more information about this report visit https://www.researchandmarkets.com/r/zchz8i