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 will witness a compounded annual increase rate of 29.86% and grow to US$65.148.103 millions by 2027 from US$10.459.014 in 2020.
Additive Manufacturing (AM), also known as 3D Printing, is a new manufacturing process that allows the creation of lighter, stronger parts. This is another technological breakthrough that has been made possible by the switch from analogue operations to digital.
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 suggests, additive manufacturing involves adding material and/or components to an object to make it.
3D printing, rapid prototyping and interchangeably used to refer to additive manufacture. However, each process is an aspect of additive manufacturing. Although additive manufacturing may seem new to some, it has been around for many decades. This market is expected to grow significantly because of the combination of improved performance, complicated geometry, as well as easier production.
The forecast period will see the market for additive manufacture grow because of the increasing demand for additive manufacturing technology, or 3D printing technology, in the automotive, manufacturing, and healthcare industries.
The electronics industry is growing at an unprecedented pace. This will drive up the demand for 3D printed products. The Asia Pacific region’s rapid expansion in consumer electronics has increased demand for additive manufacturing equipment to produce 3D printed semiconductor inks, conductors resistors, conductors, resistors and conductors. These can be used to create active and inert component. In February 2022, MeitY, the Ministry of Electronics and Information Technology, announced the publication of a national plan to encourage collaboration between academia, government, and other industries in order to make India a global center for 3D printing design, innovation, and deployment.
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.
This release not only shows that large organizations are more open to 3D printing, but also Mitsubishi’s commitment to sustainability. The initiative is part of Mitsubishi’s efforts to reduce CO2 emissions from metal manufacturing. The extremely versatile and adaptable additive manufacturing technology offers excellent opportunities to multiple start-ups. This will increase 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. To position the company as a quick response to supply chain crises, it plans to use its additional funds for rapid development of its AMCELL modular 3D printer.
Companies Mentioned
- 3D Corporation
- Optomec, Inc.
- Siemens AG
- Renishaw Plc
- General Electric Company
- Wipro Limited
- EOS Gmbh
- EXone Company
- Materialise NV
- EnvisionTEC
Segmentation in the Market
By Component
- Hardware
- Software
- Services
- Material
Technology
- Selective Laser Sintering
- Laser Sintering
- Electron Beam Melting (EBM)
- Fused Disposition Modelling
- Stereolithography
By End-user Industry
- Aerospace & Defense
- Health Care
- Automotive
- Construction
- Consumer
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- UK
- Spain
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Asia Pacific
- China
- India
- Japan
- Taiwan
- Thailand
- Indonesia
For more information about this report visit https://www.researchandmarkets.com/r/zchz8i