Global Additive Manufacturing Market Report 2022 to 2027 – Featuring 3D Corporation, Optomec, Siemens and Renishaw Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Additive Manufacturing Market – Forecasts from 2022 to 2027” report has been added to ResearchAndMarkets.com’s offering.
The market for additive manufacturing is expected to experience a compound annual growth rate (29.86%) to reach US$65,148.103 millions by 2027 from US$104,59.014 million in 2020.
Additive Manufacturing (AM), also known as 3D Printing, is a revolutionary manufacturing technique that allows the manufacture of lighter, stronger parts. Another technological breakthrough is the transition from analogue to electronic operations.
In recent decades communications, engineering, imaging, architecture and engineering all experienced digital revolutions. Manufacturing processes also can now take advantage of AM’s digital flexibility, efficiency, and effectiveness. As the name implies additive manufacturing involves adding material and/or components to an object in order create it.
3D printing, rapid prototyping and interchangeably used to refer to additive manufacture. However, each process is an aspect of additive manufacturing. While additive manufacturing may sound new, the technology has existed for many years. The perfect combination of additive manufacturing’s superior performance, complex geometry, and ease of production in the right applications can propel this market to great heights.
The market for additive manufacturing is forecast to grow due to the growing demand for 3D printing technology or additive manufacturing in the healthcare and manufacturing sectors.
The electronics industry is expanding at an alarming rate, which will increase the demand for 3D printed devices. This rapid growth in consumer electronics in Asia Pacific has led to a greater demand for additive manufacturing equipment to manufacture 3D printed electronic circuit boards, dielectric and semiconductorinks. These inks can be processed to create active and inert component. The Ministry of Electronics and Information Technology (MeitY), in February 2022 announced the release of an Indian national plan for additive manufacturing. This plan promotes collaboration between government and academic institutions to make India a global leader in design, innovation and implementation of 3D printers.
To capitalize on this growing trend, market participants around the globe are taking strategic actions to strengthen their position in the market. In September 2021 Markforged, an American public additive manufacturer company, developed, manufactured and designed The Digital Forge, an industrial platform for 3D printers. It released its Eiger Fleet to enable additive manufacturing at scale. Eiger fleet is a cloud-based, software system that allows companies to grow their additive manufacturing operations. Similar to the above, Mitsubishi Electric (a well-known Japanese company) released a new version 2 of its AZ600 wire–laser metal 3D printing machine in February 2022.
The 3D printing revolution is being embraced by large corporations. This also demonstrates Mitsubishi’s commitment towards sustainability. They are working to reduce carbon dioxide emissions in metal manufacturing. The highly adaptable and flexible additive manufacturing technology also offers great opportunities for start-ups, increasing the market size. Glowforge is one example of such start-ups.
Start-ups are expanding rapidly by using strategic developments and attracting investments. 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 extra funds to develop its modular AMCELL 3D printing machine, in order to position it to be a “quick response” to supply chain problems.
- 3D Corporation
- Optomec, Inc.
- Siemens AG
- Renishaw Plc
- General Electric Company
- Wipro Limited
- EOS Gmbh
- EXone Company
- Materialise NV
Segmentation of the Market
- Selective Laser Sintering
- Laser Sintering (LS).
- Electron Beam Melting (EBM)
- Fused Disposition Modeling
- Stereolithography (SLA).
By End-user Industry
- Aerospace & Defense
- Health Care
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Asia Pacific
For more information about this report visit https://www.researchandmarkets.com/r/zchz8i