The Europe Metal 3D Printing Market would witness market growth of 18.8% CAGR during the forecast period (2022-2028).
As technology advances and applications increase, 3D printing promises to transform the power dynamics within the metal-manufacturing value chain. Major growth accelerators include material science expertise, material availability, and manufacturing performance. The variables nearest to the beginning of the value chain, like powder producers, and the end like, design developers, have the most effect on the market because they decide the component's qualities and production prices. Powder firms who distinguish themselves by generating unique metal powders and controlling specific metal-printing sectors will be able to determine production costs, providing them significant market and value chain authority. By pooling their resources, design business owners may be able to alleviate some of the pricing pressure.
Europe is a major center for 3D printing innovation. Small & medium-sized enterprises in Europe have a significant demand for prototypes that are fast, dependable, and low-cost. 3D printing technology is being widely utilized in the region due to its potential to produce bespoke items & manufactured solutions at a cheaper cost. In Europe, government initiatives & funding, the capacity to create bespoke items through 3D printing, higher efficiency, and superior products are driving this technology. Several European governments are investing in 3D printing technologies to improve R&D outcomes. The UK government has put a significant amount of money into developing 3D printing technology. Because of the low cost of fuel, the demand for new aircraft is increasing, which will help to enhance the regional market.
The Germany market dominated the Europe Metal 3D Printing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $741.3 million by 2028. The UK market is anticipated to grow at a CAGR of 17.8% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 19.7% during (2022 - 2028).
Based on Vertical, the market is segmented into Automotive, Aerospace & Defense, Healthcare, Consumer Electronics, and Power, Energy & Others. Based on Component, the market is segmented into Hardware, Software (Design Software, Inspection Software, Printer Software, and Scanning Software), and Services. Based on Application, the market is segmented into Prototyping and Tooling & Functional Parts. Based on Technology, the market is segmented into Selective Laser Melting, Electron Beam Melting, Electron Beam Freeform Fabrication, Laser Metal Deposition, Direct Metal Laser Sintering, Laminated Object Manufacturing, Inkjet Printing, and Selective Laser Sintering. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Metal 3D Printing Market Size will Hit $11.6 Billion by 2028, at a CAGR of 19.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., 3D Systems Corporation, Stratasys Ltd., Carpenter Technology Corporation, Voxeljet AG, Sandvik AB, The ExOne company (Desktop Metal, Inc.), EOS GmbH - Electro Optical Systems, Materialise NV, and Renishaw PLC.
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