Additive Manufacturing Market size is estimated to reach USD 76.16 billion by 2030

 Additive Manufacturing Industry Overview

The global additive manufacturing market size was valued at USD 13.84 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.8% from 2022 to 2030.

A total of 2.2 million units of 3D printers were shipped globally in 2021 and the unit shipments are expected to reach 21.5 million units by 2030. Factors such as the growing demand for prototyping applications from various industries and industry verticals, particularly healthcare, automotive, and aerospace & defense, and the aggressive research and development in 3D printing are expected to drive the growth of the market.

Gather more insights about the market drivers, restrains and growth of the Global Additive Manufacturing Market

Additive Manufacturing (AM) is different from the subtractive method of production, which envisages grinding out unnecessary material from a block of material. The use of additive manufacturing in industrial applications usually refers to 3D printing. Additive manufacturing involves a layer-by-layer addition of material to form an object while referring to a three-dimensional file with the help of a 3D printer and 3D printer software. A suitable additive manufacturing technology is selected from the available set of technologies depending upon the application.

The deployment of additive manufacturing includes providing installation services, offering consultation solutions and customer support, and handling various aspects related to copyrights, licensing, and patenting. Additive manufacturing is helping manufacturers in prototyping, designing the structure and end products, modeling, and shortening the time to market. As a result, the production expenses have reduced considerably, and manufacturers are in a better position to offer products at reasonable prices. The adoption of 3D printers is expected to increase as a result of these benefits.

However, misconceptions among small- and medium-scale manufacturers about the prototyping processes are hindering the adoption of additive manufacturing. These manufacturers are deliberating before considering investments in prototyping as accountable investments rather than trying to realize the benefits of prototyping. The general notion is that prototyping is merely an expensive phase before manufacturing. Such perceptions and the looming lack of technical knowledge and standard process controls are expected to restrain the growth of the market.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports

  • 3D Reconstruction Technology Market: The global 3D reconstruction technology market size was estimated at USD 1,088.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2030.
  • Zero-Touch Provisioning Market: The global zero-touch provisioning market size was valued at USD 2,521.3 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2022 to 2030.

Key Companies Profile

Some of the prominent players in the global additive manufacturing market include:

  • Stratasys, Ltd.
  • Materialise NV
  • EnvisionTec, Inc.
  • 3D Systems, Inc.
  • GE Additive
  • Autodesk Inc.
  • Made In Space
  • Canon Inc.
  • Voxeljet AG

Order a free sample PDF of Additive Manufacturing Market Intelligence Study, published by Grand View Research. 

Comments

Post a Comment

Popular posts from this blog

Global Potash Market: Trends, Growth & Forecast 2023-2032

T he global  potash market  size is expected to reach USD 93.50 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032, according to a new study by Grand View Research, Inc. This is attributed to the increasing demand for food and efficient usage of agricultural land. As consumers seek healthier options, there has been a surge in demand for high-value crops like fruits, vegetables, and specialty crops, boosting the demand for potash. Furthermore, the adoption of precision agriculture techniques has become increasingly prevalent in recent years. Precision agriculture involves using advanced technologies and data-driven approaches, such as soil testing and targeted nutrient management, to make informed decisions about fertilizer application.   Farmers are embracing precise and site-specific methods for applying fertilizers, based on field variability and crop requirements. This trend makes way for optimized resource utilization, improved crop performance, and enhanced...
Read more

Smart Ticketing Market Report: Emerging Technologies & Market Opportunities

  The global smart ticketing market size is expected to reach USD 31.65 billion by 2030, growing at a CAGR of 15.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. With the widespread adoption of smartphones, mobile ticketing channels have gained traction, allowing users to purchase, store, and validate tickets directly on their mobile devices, eliminating the need for physical cards or paper tickets. The convenience and ease of use offered by mobile ticketing have contributed to the growth of the market. Smart ticketing systems generate vast amounts of data on passenger journeys, travel patterns, and ticket usage.   Operators leverage this data to gain valuable insights, optimize operations, and improve the overall passenger experience. Data analytics techniques, such as predictive modeling and real-time monitoring, are being applied to enhance efficiency, manage capacity, and offer personalized services, which bode well for smart ticketing...
Read more

Boosting Crop Yields: India Foliar Fertilizer Market Trends & Forecasts

  The  India foliar fertilizer market  size is expected to reach USD 4.9 billion by 2030, expanding at a CAGR of 11.3% during the forecast period, as per a new report by Grand View Research, Inc. The industry growth is majorly driven by surged demand for food due to increasing population coupled with supportive government initiatives and decreasing arable land in the country.   There has been a significant increase in the global prices of fertilizers and foliar fertilizers. As such, farmers falling into small- and marginal-income categories cannot afford to buy fertilizers resulting in reduced agricultural yields. This has led the Government of India to take initiatives to provide fertilizer subsidies to farmers in the country to make them affordable at subsidized prices. For instance, the Government of India announced a subsidy scheme related to fertilizers worth USD 27 billion in 2022 to ensure that fertilizers are affordable for every farmer in the country. Thus, ...
Read more