Published Date: 31-May-2022
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Additive Manufacturing Market size is expected to reach $44.6 billion by 2028, rising at a market growth of 18.9% CAGR during the forecast period.
The Industrial 3D Printer segment acquired maximum revenue share in the Global Additive Manufacturing Market by Printer Type in 2021, thereby, achieving a market value of $31.9 billion by 2028. For some of the most frequent applications, such as prototyping, designing, and tooling, industrial 3D printers are being widely embraced across many industries as well as industry verticals, including aerospace & military, automotive, electronics, and healthcare, among others. The growth of this segment is also owing to the widespread usage of additive manufacturing for prototyping, designing, and tooling.).
The Fuse Deposition Modeling segment is showcasing a CAGR of 18.6% during (2022 - 2028). Fused deposition modeling (FDM) is a technique for depositing hot plastic filaments in a specified pattern using the melt extrusion process. FDM uses a printhead that can move on both the X and Y axis over a built platform, similar to 3D Printing. The polymer is extruded through a heated nozzle and placed down as filaments, as per the CAD design. The scaffold is then completed by lowering the build platform and adding another layer.
The Hardware segment is leading the Global Additive Manufacturing Market by Component in 2021; thereby, achieving a market value of $24.7 billion by 2028. The growth of this segment is due to the ongoing focus of manufacturing organizations on advanced production processes and quick prototyping. In addition, due to several factors, such as increased industrialization, rising demand for consumer electronics items, the ongoing expansion of civil infrastructure, fast urbanization, and optimized labor costs, the industry is estimated to witness accelerated growth.
The Tooling & Functional Parts segment has shown growth rate of 20.1% during (2022 - 2028). Smaller joints and other metal hardware necessary for connecting components are functional portions. When developing machinery and systems, the accuracy and precision sizing of these functioning pieces are critical. As a result, market players in a variety of industries and industrial verticals are emphasizing the importance of designing and manufacturing functional parts with extreme precision.
The Metal market dominated the Global Additive Manufacturing Market by Material in 2021, thereby, achieving a market value of $28.9 billion by 2028. Metal Additive Manufacturing, also called metal 3D printing, offers unrivaled creative independence by allowing parts to be made from a number of materials. This is a prototype of an improved bracket for an Airbus A380, with a traditional bracket behind (Courtesy EADS). Components that were impossible to manufacture in recent years can now be produced at high standards utilizing a variety of metal powders. Additive Manufacturing is currently being used for the production of serial components for the most demanding applications, rather than only prototyping. This factor is driving the growth of the additive manufacturing market.
The Aerospace & Defense market is experiencing a CAGR of 19.4% during (2022 - 2028). The aerospace and defense industries are a great illustration of how additive manufacturing can develop heavier as well as lighter components than parts made with traditional methods. Moreover, engine compartments, cabin accessories, and air ducts are among the applications of additive manufacturing or 3D printing in the aerospace sector.
North America is the fastest growing region in the Global Additive Manufacturing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $15 billion by 2028. The Europe market is estimated to witness a CAGR of 18.2% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 19.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/additive-manufacturing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 3D Systems Corporation, Autodesk, Inc., Canon, Inc., Materialise NV, EnvisionTec, Inc., General Electric (GE) Co., Voxeljet AG, Redwire Corporation, and Stratasys, Ltd.
By Printer Type
Unique Offerings from KBV Research
North America Additive Manufacturing Market Size & Opportunities 2022-2028
Europe Additive Manufacturing Market & Growth Forecast 2022-2028
Asia Pacific Additive Manufacturing Market, Share & Industry Outlook to 2028
LAMEA Additive Manufacturing Market Growth, Trends & Forecasts 2022-2028