Additive Manufacturing Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Additive Manufacturing Market covers analysis By Material (Plastic, Metal, Ceramics, and Others), Technology [Selective Laser Sintering (SLS), Stereolithography (SLA), Fused Deposition Modeling (FDM), and Others], and End User (Automotive, Aerospace, Healthcare, Industrial Manufacturing, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Apr 2024

  • Report Code : TIPTE100001350
  • Category : Chemicals and Materials
  • Status : Upcoming
  • No. of Pages : 137
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The additive manufacturing market was valued at US$ 10,383.02 million in 2022 and is projected to reach US$ 25,171.78 million by 2028; it is expected to grow at a CAGR of 16.0% from 2022 to 2028.

The additive manufacturing market has experienced significant growth and adoption over the recent past and is expected to experience substantial growth and acceptance in the future. The primary reason for the surged adoption of additive manufacturing is the increase in the need for automation and cost-effective technologies in the manufacturing sector. Implementing additive manufacturing technologies in manufacturing facilitates the mass production of complex-shaped parts with reduced lead times. Additive manufacturing has replaced traditional methods due to its high accuracy and speed of production. Also, additive manufacturing is transforming production in a range of applications.

In 2021, North America held the largest revenue share of the global additive manufacturing market. High demand from manufacturing industries such as automotive, healthcare, and consumer goods is mainly driving the additive manufacturing market in the region. Additive manufacturing is highly relevant for various industries. The automotive industry is one of the prime users of additive manufacturing. The competitive and dynamic nature of the automotive industry results in the development of new technologies in North America. In addition, an increase in the use of additive manufacturing among OEMs would fuel the need for better supply chains and innovations. The mass market of industries using 3D printing, including the automotive industry, holds an essential position to widespread the implementation of technologies that further helps lower the price of both materials and machines. Companies in the region mostly use deposition modeling technology. The growing industrialization is the major factor for the rising demand for additive manufacturing in the region.

Strategic Insights

Global Additive Manufacturing Market Breakdown – by Region

Global Additive Manufacturing Market Breakdown – by Region

Market Insights

Emergence of Factory Automation and Cloud-Based Technologies

The connected factory is an idea that has been evolving over the past few years. It means expanding the power of the web to link machines, sensors, computers, and humans to enable new levels of information monitoring, collection, processing, and analysis. These devices provide more precision and can translate collected data into insights. For example, they can help determine the amount of voltage used to produce a product or to understand better how temperature, pressure, and humidity impact performance. Advancements in cloud technology have enabled organizations worldwide to access essential information quickly and created easy availability of tools and data to people, irrespective of place and time. Further, the Industry 4.0 initiative is expected to provide a long-term vision and future of the manufacturing set-up. These factors are responsible for driving the additive manufacturing market.

End User Insights

Based on end user, the global additive manufacturing market has been segmented into automotive, aerospace, healthcare, industrial manufacturing, and others. The industrial manufacturing segment held the largest market share in the global additive manufacturing market in 2021. The global manufacturing industry is rapidly expanding as emerging regions are increasingly investing in adopting manufacturing plants. The expansion in the manufacturing industry is further highly driven by economic growth worldwide. This technological revolution in the factories has encouraged the manufacturing industries to further invest in emerging technologies to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry is expected to drive the demand for prototyping and the use of 3D technologies worldwide.

Additive Manufacturing Market, by End User – 2021 and 2028

Additive Manufacturing Market, by End User – 2021 and 2028

3D Systems; Stratasys, Inc.; Arcam AB; EOS GmbH; 3T RPD, LTD.; Envisiontec Gmbh; GPI Prototype and Manufacturing Services; 3D Hubs; Sciaky, Inc.; and ProtoCAM are among the major players operating in the global additive manufacturing market.  Players operating in the global additive manufacturing market are constantly focusing on strategies such as investments in research and development activities and new product launches.

Report Spotlights

  • Progressive industry trends in the additive manufacturing market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the additive manufacturing market from 2020 to 2028
  • Estimation of global demand for additive manufacturing
  • Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
  • Recent developments to understand the competitive market scenario
  • Market trend and outlook, as well as factors driving and restraining the growth of the additive manufacturing market
  • Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
  • The size of the additive manufacturing market size at various nodes
  • Detailed overview and segmentation of the market, as well as the additive manufacturing industry dynamics
  • Size of the additive manufacturing market in various regions with promising growth opportunities

The global additive manufacturing market is segmented based on material, technology, end user, and geography. Based on material, the global additive manufacturing market is segmented into plastic, metal, ceramics, and others. In terms of technology, the global additive manufacturing market is segmented into selective laser sintering (SLS), stereolithography (SLA), fused deposition modeling (FDM), and others. Based on end user, the global additive manufacturing market is segmented into automotive, aerospace, healthcare, and industrial manufacturing.

Company Profiles

  • 3D Systems
  • Stratasys, Inc.
  • Arcam AB
  • EOS GmbH
  • 3T RPD, LTD.
  • Envisiontec Gmbh
  • GPI Prototype and Manufacturing Services
  • 3D Hubs
  • Sciaky, Inc.
  • ProtoCAM

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REGIONAL FRAMEWORK
World Geography

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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Material, Technology, and End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies - Additive Manufacturing Market 

  1. 3D Systems, Inc.
  2. Stratasys Ltd.
  3. 3T RPD, LTD.
  4. Arcam AB
  5. EOS GmbH
  6. 3D Hubs B.V.
  7. ENVISIONTEC, INC.
  8. ProtoCAM
  9. Sciaky, Inc.
  10. GPI Prototype and Manufacturing Services

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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