NEW YORK, United States, Sept. 05, 2022 (GLOBE NEWSWIRE) — According to Facts and Factors has published a new research report titled “Additive Manufacturing Market Size, Share, Growth Analysis Report By Component (Hardware, Software, Services), By Printer Type (Desktop 3D Printer, Industrial 3D Printer), By Technology (Stereolithography, Fuse 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, Others), By Software (Design Software, Inspection Software, Printer Software, Scanning Software), By Application (Prototyping, Tooling, Functional Parts), and By Region – Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Additive Manufacturing Market size & share in terms of revenue was valued at USD 11,382.40 million in 2021 and it is expected to surpass around USD 34,846.25 million mark by the end of 2028, growing at a compound annual growth rate (CAGR) of approximately 20.50% during the forecast period 2022 to 2028.”
What is Additive Manufacturing? How big is the Additive Manufacturing Industry?
Additive manufacturing, sometimes referred to as 3D printing, is a revolutionary method of industrial production that makes it possible to create systems and parts that are lighter and stronger. Because additive manufacturing employs computer-aided design (CAD) software or 3D object scanners to instruct the gear to deposit material, layer by layer, in exact geometric patterns, it may provide digital flexibility and efficiency to manufacturing operations.
Three-dimensional printers, printing materials, and service providers are part of the global additive manufacturing market. Both quick manufacturing and rapid prototyping are included in the application market. The market is anticipated to increase throughout the forecast period due to the increasing use of three-dimensional printers by market leaders in the automotive, healthcare, and aerospace & defense sectors, among other industries and industry verticals.
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The widespread use of additive manufacturing across several industries is propelling a rise in market revenue. For instance, in the healthcare sector, 3D data from scans are utilized to create 3D printed models, allowing surgeons to practice complex surgical methods on lifelike models and improving their accuracy and speed of operation. The dentistry business extensively uses additive manufacturing to create precise, specialized solutions for dental issues.
Additionally, 3D printing technology is being used to create unique implants for each patient. Other additive manufacturing applications include 3D printed surgical cutting and drilling equipment, prosthetics, artificial organs, and designer pharmaceuticals, all of which have enormous potential to propel market expansion throughout the projected period.
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Additive Manufacturing Market: COVID-19 Impact Analysis
The COVID-19 pandemic is making it difficult to satisfy the demand for additive manufacturing in a number of different contexts. In an effort to stop the sickness from spreading further, the governments of several different countries throughout the world have instituted lockdown procedures. As a direct consequence of this, there have been problems with supply and transportation, a lag in the construction of infrastructure, and a reduction in the speed of production activities. As a direct consequence of this trend, additive manufacturing is losing favour all around the world.
The primary participants in the market for additive manufacturing are tier I and tier II manufacturers and suppliers. The facilities that are used for production and the supply chain by these companies are spread out over a number of countries in a variety of regions, including Asia Pacific, Europe, North America, Latin America, and the Middle East and Africa.
The global additive manufacturing market is segregated based on component, printer type, technology, software, application, and region. The market is classified into hardware, software, and services based on components. Hardware dominated the market in 2021. Based on printer type, the market is classified into desktop 3D printers and industrial 3D printers. Industrial 3D printer dominates the market in 2021.
Based on technology, the market is segmented into stereolithography, fuse 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. Among these, the stereolithography segment dominates the market in 2021. Based on software, the market is classified into the design, inspection, printer, and scanning software. The design software segment dominates the market in 2021. The application market is segmented into prototyping, tooling, and functional parts. The prototyping segment dominates the market in 2021.
The global Additive Manufacturing market is segmented as follows:
By Printer Type
- Desktop 3D Printer
- Industrial 3D Printer
- 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
- Design Software
- Inspection Software
- Printer Software
- Scanning Software
- Functional Parts
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The report contains qualitative and quantitative research on the global additive manufacturing market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market’s main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. Some of the main competitors dominating the global Additive Manufacturing market include –
- Stratasys Ltd.
- Materialise NV
- EnvisionTec Inc.
- 3D Systems Inc.
- GE Additive
- Autodesk Inc.
- Made In Space
- Canon Inc.
- Voxeljet AG
Key Insights from Primary Research:
- According to the analysis shared by our research forecaster, the global additive manufacturing market is likely to expand at a CAGR of around 20.50% during the forecast period (2022-2028).
- In terms of revenue, the Additive Manufacturing market size was valued at around US$ 11,382.40 Million in 2021 and is projected to reach US$ 34,846.25 Million by 2028.
- By component segment, the hardware category dominated the market in 2021.
- By printer type, the industrial 3D printer category dominated the market in 2021.
- On the basis of region, North America accounted for the largest revenue share in 2021.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Additive Manufacturing industry?
- What are the main driving factors propelling the Additive Manufacturing Market forward?
- What are the leading companies in the Additive Manufacturing Industry?
- What segments does the Additive Manufacturing Market cover?
- How can I receive a free copy of the Additive Manufacturing Market sample report and company profiles?
- Market Size & Forecast by Revenue | 2022−2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis by Component, Printer Type, Technology, Software, Application, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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In 2021, the revenue share that was contributed by the market for additive manufacturing in North America was the largest. This is due to the presence of large market actors in the area, which has both fostered the development of the technology and raised the number of patents. As a result, the number of patents has increased. In addition, it is anticipated that developments in technology, efficient use of resources devoted to research and development (R&D), and the implementation of cutting-edge methodologies such as artificial intelligence and machine learning across all sectors will contribute to the growth of the market over the course of the period in question. It is anticipated that the governments in the region will lend their support to the broad adoption of additive manufacturing technology in order to construct contemporary infrastructure, encourage sustainable growth, and reduce the cost of inputs. It is projected that this will be a driving force behind the increase in revenue in the North American market.
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
- November 2021: Two new additive manufacturing machines have been introduced by Optomec Inc., a pioneer in production solutions for metal additive manufacturing and 3D printed electronics. These machines were created primarily for high-volume production and have automated part-handling options. These devices provide user-friendly production software that enables error-free sequencing in a manufacturing environment.
|Market Size in 2021||USD 11,382.40 Million|
|Projected Market Size in 2028||USD 34,846.25 Million|
|CAGR Growth Rate||20.50% CAGR|
|Key Market Players||Stratasys Ltd., Materialise NV, EnvisionTec Inc., 3D Systems Inc., GE Additive, Autodesk Inc., Made In Space, Canon Inc., Voxeljet AG, Optomec Inc., and Others|
|Key Segment||By Component, Printer Type, Technology, Software, Application, and Region|
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa|
|Purchase Options||Request customized purchase options to meet your research needs.|
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