The Metal Additive Manufacturing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Metal Additive Manufacturing Global Market Report 2024, The metal additive manufacturing market size has grown rapidly in recent years. It will grow from $4.64 billion in 2023 to $5.36 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to global industrialization, increased adoption in the automotive sector, increased aerospace sector, growing healthcare sector, increased manufacturing sector.
The metal additive manufacturing market size is expected to see rapid growth in the next few years. It will grow to $9.74 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to growing dental industry, growing educational institutions, improved efficiency, increasing focus on reduced costs, increasing focus on reduced weight. Major trends in the forecast period include advancements in 3d printing, integration of automation and streamlined workflows, technological innovations, product innovations.
The adoption of metal additive manufacturing technologies in the aerospace industry is expected to propel the growth of the metal additive manufacturing market going forward. The aerospace industry encompasses the design, development, production, operation, and maintenance of aircraft, spacecraft, satellites, and related components. In the aerospace sector, metal additive manufacturing is used to create lightweight components, reduce the weight of aircraft and spacecraft, improve fuel efficiency, and cut emissions. For instance, in November 2022, according to the Aerospace Industries Association, a US-based trade association representing manufacturers and suppliers, the American Aerospace & Defense industries generated $892 billion in combined sales in 2021, a 2.1% increase from 2020. Further, in 2021, Aerospace & Defense industry exports rose by 11.2% to a total value of $100.4 billion. Therefore, the adoption of metal additive manufacturing technologies in the aerospace industry is driving demand for the metal additive manufacturing market.
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The metal additive manufacturing market covered in this report is segmented –
1) By Type: Selective Laser Melting (SLM), Electron Beam Melting (EBM), Powder Bed Fusion, Sheet Lamination, Directed Energy Deposition, Binder Jetting
2) By Component: System, Materials, Services And Parts
3) By Application: Automotive Industry, Aerospace Industry, Healthcare And Dental Industry, Tools And Mold, Academic Institutions, Other Applications
Integration of robots in additive manufacturing is the key trend gaining popularity in the metal additive manufacturing market. Major companies operating in the metal additive manufacturing market are focused on implementing robotics technologies to boost productivity and increase their market. For instance, in November 2022, ADDiTEC, a US-based provider of metal additive manufacturing (AM) solutions and applications, developed the AMRC-P (additive manufacturing robot cell-portable), a highly effective, fully automated robotic metal AM system. The AMRC-P can be modified with any industrial robot to meet the unique needs of a business. The device includes cutting-edge software tools to support intricate multi-axis geometries, making printing more straightforward and accessible for both seasoned users and beginners. The software is customizable, allowing customers to satisfy all their parameter requirements.
The metal additive manufacturing market report table of contents includes:
1. Executive Summary
2.Metal Additive Manufacturing Market Characteristics
3. Metal Additive Manufacturing Market Trends And Strategies
4. Metal Additive Manufacturing market analysis
5. Metal Additive Manufacturing Market Size And Growth
6. Metal Additive Manufacturing Segmentation
7.Metal Additive Manufacturing Regional And Country Analysis
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27.Metal Additive Manufacturing Competitive Landscape And Company Profiles
28.Metal Additive Manufacturing Key Mergers And Acquisitions
29.Metal Additive Manufacturing Future Outlook and Potential Analysis
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