Global Additive Manufacturing Market Report 2022 to 2027 – Featuring 3D Corporation, Optomec, Siemens and Renishaw Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRED?)–The new report, “Additive Manufacturing Market: Forecasts from 2022-2027”, has been published ResearchAndMarkets.com’s offering.
It is expected that the market for additive manufacturing will grow at a compound annual rate of 29.86%, to reach US$65.148.103 millions by 2027 from US$10.459.014 in 2020.
3D printing or additive manufacturing, also known as 3D printing (or simply AM), is a new manufacturing process that allows the creation of lighter and stronger components. Another technological advancement is the transition from analogue to electronic operations.
Communication, imaging, engineering and architecture have all seen digital revolutions over the past decade. In turn, AM can also help manufacturing process to be more flexible and efficient. Additive manufacturing is, like its name indicates, the process of adding material to an object so that it can be created.
3D printing, rapid prototyping and interchangeably used to mean additive manufacturing. However, each process can be considered a part of additive manufacturing. While additive manufacturing seems new, this technology is well-established. This market is expected to grow significantly because of the combination of improved performance, more complex geometry, and simpler production.
In the next few years, the market for additive manufacturing will grow due to the growing demand for 3D printing or additive manufacturing technology within the healthcare and manufacturing sectors.
This is driving up the demand for 3D-printed devices as the electronics industry is growing at an unprecedented pace. The rapid growth of consumer electronics in Asia Pacific has led to a greater demand for additive manufacturing equipment to make 3D printed electronic circuit boards, 3D printed solar panels, dielectric inks and conductors. These inks can also be used to produce both inert and active components. The Ministry of Electronics and Information Technology (MeitY), in February 2022 announced the launch of an India-wide plan for additive manufacturing. It aims to foster collaboration between academia, government and other related sectors to help India become a world leader for 3D printing, design innovation and implementation.
To capitalize on this rising trend, market participants around the globe are taking proactive steps to strengthen their position in the market. To drive additive manufacturing to scale, Markforged (an American public additive manufacturing firm that designs, develops and produces The Digital Forge) released their Eiger fleet in September 2021. Eiger Fleet is a cloud-based, software program that allows companies to grow their additive manufacturing capabilities. In a similar fashion, Mitsubishi Electric (a well-known Japanese company) released a brand new version 2 of its AZ600 wire laser metal 3D printer in February 2022.
This release not only shows that large organizations are more open to 3D printing, but it also shows Mitsubishi’s commitment to sustainability. The initiative is part their efforts to reduce CO2 emissions from metal fabrication. The highly adaptable, versatile additive manufacturing technology also offers great opportunities to start-ups, increasing the market. Glowforge is one example of such start-ups.
Start-ups can also expand their market presence by using strategic development 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 additional funds to develop its AMCELL 3D printer modular AMCELL in order to be able to quickly respond to any supply chain crisis.
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
By Technology
- Selected Laser Sintering (SLS).
- Laser Sintering
- Electron Beam Melting (EBM)
- Modeling of Fused Disposition
- Stereolithography
By End-user Industries
- Aerospace & Defense
- The Health Care
- Automobile
- Construction
- Consumer
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