An expert team performs systematic, object-oriented and complete market research study to provide with the facts associated with any subject in the field of marketing via this report. The Additive Manufacturing Market report has a lot to offer to both established and new players in the industry with which they can completely understand the market. SWOT analysis and Porter’s Five Forces analysis methods are used wherever applicable, while generating this report. One of the most important parts of this report is competitor analysis with which businesses can estimate or analyse the strengths and weaknesses of the competitors.
In addition, with the help of this report, businesses can make out the reaction of the consumers to an already existing product in the market. The report includes estimations of recent state of the market, CAGR values, market size and market share, revenue generation, and necessary changes required in the future products. A wide-ranging competitor analysis helps build superior strategies of production, improvement in certain product, its advertising or marketing and promotion for the business. Exhaustive and comprehensive market study performed in this persuasive report offers the current and forthcoming opportunities that put light on the future market investment.
Data Bridge Market Research analyses that the additive manufacturing market was valued at USD 15.27 billion in 2021 and is expected to reach USD 104.98 billion by 2029, registering a CAGR of 27.25% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Global Additive Manufacturing Market Analysis and Size
The market for additive manufacturing is estimated to increase rapidly over the forecast period. In comparison to traditional manufacturing methods including injection molding, CNC machining, and vacuum casting, additive manufacturing provides various advantages, such as a lower resource demand, a shorter production cycle, flexible design, and significant tooling cost savings. The market is finally moving into production after more than 25 years of development. Businesses across the value chain in various industries will attempt to capitalize on this fast-paced market over the projected period. Different metals with diverse beneficial qualities, such as titanium, steel, nickel, aluminium, and cobalt alloys, are utilized to produce high-performance parts, particularly in the aerospace industry.
Competitive Landscape and Additive Manufacturing Market Share Analysis
The Additive manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to additive manufacturing market.
Some of the major players operating in the additive manufacturing market 3D Systems, Inc. (U.S.), Stratasys (U.S.), ExOne (U.S.), ENVISIONTEC US LLC (Germany), Materialise (Belgium), MCor Technologies Ltd. (Ireland), Biomedical Modeling Inc. (US), EOS Systems Inc. (US), Integer Holdings Corporation (US), Fathom Digital (US), Surgival (Spain), SLM Solutions (Germany), Xilloc Medical B.V. (Netherlands), Dentsply Sirona (US), Renishaw plc (UK), Morris Technology (US), and Limacorporate S.p.a (Italy), among others.
Global Additive Manufacturing Market Definition
3D printing, also known as additive manufacturing, is a revolutionary technique to industrial production that allows for the creation of lighter, stronger parts and systems. Because it uses computer-aided design (CAD) software or 3D object scanners to command the hardware to deposit material, layer by layer, in precise geometric patterns, additive manufacturing can provide digital flexibility and efficiency to manufacturing operations.
Because additive manufacturing technologies have lower production costs than traditional manufacturing processes, they can be cost-effective. Fixed costs are exclusively attributed to a single component design in traditional manufacturing technologies. There are some fixed expenses associated with additive manufacturing, but these costs can be more easily compensated by the number of diverse items that can be created in a single batch. As a result, additive manufacturing is more cost-effective than traditional manufacturing, which is one of the primary drivers driving market revenue growth.
When compared to other traditional manufacturing processes, the fundamental physical difference in how items are manufactured with the additive manufacturing process generates several key functional distinctions. The capacity of additive manufacturing to build complicated geometries that would be difficult or impossible to achieve using traditional manufacturing processes is the most significant of these functional changes. These complex geometries are also more durable and lighter than standard geometries. The ability of additive manufacturing to construct complicated geometries more easily than conventional production technologies has fueled its growth.
Furthermore, the development of new and improved technologies and materials will be a major factor influencing the growth of the additive manufacturing market. Along with this, increasing urbanization and rising level of government funding are the driving factors accelerating the growth of the additive manufacturing market. Also, the increasing expenditure on healthcare infrastructure is the major market drivers that will further escalate the growth of additive manufacturing market. Other significant factors that will cushion the additive manufacturing market’s growth rate are the customization of products and bulk production.
Moreover, the rising development of new supply chain models will provide beneficial opportunities for growth in additive manufacturing. Along with this, the expiry of key patents will influence the market’s growth rate by creating various market opportunities in coming years.
Moreover, growing number of strong mergers and acquisitions and increase in the number of emerging markets will further provide beneficial opportunities for the additive manufacturing market growth during the forecast period.
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Restraints/Challenges Global Additive Manufacturing Market
However, dearth of software efficiency will impede the additive manufacturing market’s growth rate. The entire process of customer-specific additive manufacturing is primarily manual, and this manual labour is justifiable to some extent in early Additive Manufacturing use cases (AM). It was not essential to tightly integrate the 3D printer into supporting software solutions in prototype because the number of components produced was small and there was little need for comprehensive data collection.
Even if additive manufacturing could significantly improve production speed and volume, it would still be impossible to produce huge single items. This is another key obstacle that additive manufacturing researchers must overcome as they seek new uses for the technology. Because existing additive manufacturing processes have a restricted construction envelope, even larger components that can be printed must still be connected using mechanical joining or welding.
On the other hand, the lack of standardization equipment and process control will challenge the additive manufacturing market. Additionally, issues with the availability as well as cost of additive manufacturing will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This additive manufacturing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market.
COVID-19 Impact on Additive Manufacturing Market
The growth of the additive manufacturing market had been hampered by COVID-19. Previously, factories were forced to close briefly owing to global lockdowns to prevent the spread of the coronavirus. Companies redesigned their manufacturing methods and embraced contemporary production techniques during the lockdown, and after the lockdown ended, they began rearranging their business strategies and investing in nations that were predicted to grow faster. New businesses in a variety of industries have begun to use additive manufacturing technologies on a large scale to manufacture a variety of products. Governments in several nations are assisting businesses who are using contemporary technology for long-term growth and improved infrastructure by offering subsidies and allocating significant funds to this goal in their budgets. Rising demand for additive manufacturing from the healthcare, automotive, and military sectors is likely to fuel market revenue growth during the forecast period.
Global Additive Manufacturing Market Scope
The additive manufacturing market is segmented on the basis of material, material type, technology and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of material, the additive manufacturing market is segmented into plastic, metals and ceramics.
On the basis of material type, the additive manufacturing market is segmented into homogeneous materials and heterogeneous materials.
On the basis of technology, the additive manufacturing market is segmented into stereolithography, fused deposition modeling, laser sintering and other technologies.
On the basis of end user, the additive manufacturing market is segmented into aerospace and defense, automotive, healthcare, industrial and other end users.
Additive Manufacturing Market Regional Analysis/Insights
The additive manufacturing market is analysed and market size insights and trends are provided by country, material, material type, technology and end user as referenced above.
The countries covered in the additive manufacturing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the additive manufacturing market because of major key players and high healthcare expenditure in this region. Additionally, the growing acceptance of technologically advanced medical devices will flourish the market’s growth rate in this region.
Asia-Pacific is expected to grow during the forecast period due to rising growth in the manufacturing sector in this region. Along with this, increasing demand for lightweight and high-strength components with precise designs will flourish the market’s growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The additive manufacturing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for additive manufacturing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the additive manufacturing market. The data is available for historic period 2010-2020.
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