Additive Manufacturing Market Size, Share, Growth Analysis, By Printer Type(3D Printer, and Industrial 3D Printer), By Component(Hardware, Software), By Technology(Stereolithography, Fused Deposition Modeling), By Software(Design Software, Inspection Software), By Application(Prototyping, Tooling), By Material(Polymer, Metal) - Industry Forecast 2024-2031

Report ID: SQMIG20I2150 | Region: Global | Published Date: April, 2024
Pages: 202 | Tables: 179 | Figures: 79

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Additive Manufacturing Market size was valued at around USD 16.72 billion in 2022 and is expected to rise from USD 20.20 billion in 2023 to reach a value of USD 91.59 Billion by 2031, at a CAGR of 20.8% over the forecast period (2024–2031).

Market participants are continuously developing additive manufacturing technologies in response to the rising demand for three-dimensional printing from established organizations in the automotive, healthcare, and aerospace & military industries for production purposes. In order to create new items, major industry businesses typically use additive manufacturing. Market leaders like Stratasys, Ltd. are extending the use of additive manufacturing beyond prototype to the entire industrial value chain. 'Stratasys Ltd.', '3D Systems Corporation', 'EOS GmbH', 'Materialize NV', 'General Electric Company (GE Additive)', 'SLM Solutions Group AG', 'Arcam AB', 'EnvisionTEC GmbH', 'HP Inc.', 'Voxeljet AG', 'Renishaw plc', 'Optomec Inc.', 'Concept Laser GmbH', 'Ultimaker BV', 'Desktop Metal, Inc.', 'Carbon, Inc.', 'Prodways Group', 'XYZprinting, Inc.', 'The ExOne Company', 'Nano Dimension Ltd.'

One of the key drivers of the additive manufacturing market is the growing demand for customized products. 3D printing allows manufacturers to produce products that are tailored to the specific needs of individual customers, which is particularly important in industries such as aerospace, automotive, and healthcare.

Shift from Prototyping to Production: The additive manufacturing industry is increasingly shifting from prototyping to production applications. As 3D printing technologies improve and become more efficient, manufacturers are using them to produce end-use parts and products, rather than just prototypes. This is driving the growth of the additive manufacturing market in a wide range of industries.

North America held a revenue share of more than 34%, dominating the market for additive manufacture. Nations with developed economies like the United States and Canada are found in North America. These countries are known for being among the first to adopt cutting-edge technologies. But Europe overtook Asia to overtake it as the second-largest regional market. Geographically speaking, Europe is the biggest continent.

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