Additive manufacturing is the process of building complex and precise systems with the help of software integrated design techniques. This technology makes use of CAD (Computer-Aided Design) or 3D object scanners to take precise measurements of the product to be custom designed.
Additive Manufacturing has its applications in several industries like defence, automotive industry, surgical equipment’s’ design segment, etc. The diverse applications of this market are one of the key drivers of this sector.
In most cases, the material of construction used to produce these 3-D models are environmentally sustainable since they can be recycled. Increasing utilization of ecologically friendly technology that helps with environmental conservation and the rising awareness with regards to green technology further propels the growth of this segment. Low cost of creating a product coupled with easy customization of the same impacts the market positively.
The global market revenue generated by this sector accounts for USD 12 Billion in the year 2020 and it is anticipated to reach around USD 78 Billion by the year 2028. The market growth dynamics accounts for around CAGR of 26%- 32% during the forecast period, 2020-2028.
North America dominates the global market with a market value of USD 24 Billion owing to the increasing R&D investment in this sector coupled with an infrastructure that supports the same. The early adoption of 3D printing technology in North America is another factor that fuels its market growth. Europe is the second-largest segment; this is due to the growing industrialization of this market coupled with the low production cost of additive manufacturing. APAC is expected to grow with the highest CAGR of around 27%- 30%, although traditional means of additive manufacturing are more prevalent in the APAC’s developing countries.
The use of smart manufacturing processes to develop products and the predominant role of 3D printing in Industry 4.0 is one of the upcoming applications of this technology. Industry 4.0 is a rising trend that is anticipated to shift the global market dynamics and bring a radical change to manufacturing processes. Leading companies are making use of 3D printing as a means of technology to create complex designs that are designed as per client requirements therefore imbibing a smart industrial revolution. The testing of theoretical designs before setting up production lines is expected to change the process of product development in the coming years.
Scope:
The study period of this report titled, "Global Additive Manufacturing Market and Technology Forecast to 2028" ranges from 2019-2028, and the forecast period of this report is from 2020-2028.
The report is aimed at:
- The Key drivers, restraints and challenges which are expected to shape the Global Additive Manufacturing Market are covered in detailed in the report.
- The key technologies which could have an impact on the Global Additive Manufacturing Market have been covered in detail.
- The top eleven industries have been analyzed in detail with respect to its intricacy and sustainability.
- The Porter’s Five Forces and the PEST Analysis of the Global Additive Manufacturing Market have been covered in the report.
- The high growth markets have been identified in the Opportunity Analysis Chapter.
- The market has been forecasted from 2020- 2028 considering all the factor, which is expected to impact the market.
- The Scenario Analysis Chapter covers the key scenarios and its impacts on the forecast chapter.
Segmentation covered in this report
The market is segmented based on Region, Application and Vertical:
Region Wise Segmentation:
- North America
- Europe
- APAC
- Middle East
- ROW
By Application
- Prototyping
- Functional Part Manufacturing
- Tooling
By Vertical
- Aerospace & Defense
- Healthcare
- Consumer Products
- Automotive
- Jewelry
- Education
- Energy
- Architecture & Construction
- Printed Electronics
- Food Culinary
- Others
Industrial Analysis
- Aerospace & Defense
- Healthcare
- Consumer Products
- Automotive
- Jewelry
- Education
- Energy
- Architecture & Construction
- Printed Electronics
- Food Culinary
- Others
Reasons to Buy
- The new players in the additive manufacturing market and the potential entrants into this market can use this report to understand the key market trends that are expected to shape this market in the next few years.
- The Market Analysis Chapter cover the Key Drivers, Restraints and Challenges of the additive manufacturing technology. The PEST and the Porter’s five forces are covered in detailed in this report.
- The key technologies that could impact the Additive Manufacturing Market have been covered in detailed, an example is the growth of Industry 4.0.
- The report can be used by sales and marketing team to formulate their medium- and long-term strategies and to reconfirm their short-term plans.
- The forecast chapter would help the sales team to formulate their medium-term sales plan.
- The report would be help to the sales and the marketing team to understand the key segments across the top eleven industries which have been analyzed in the report.
- The Opportunity Analysis chapter identifies the key hot spots within the Global Additive Manufacturing Market.
- The company profiles include financials, latest news, contacts, and SWOT for ten companies.
Who is this report for?
- Financial Institutions: Financial institutions such as financial intermediaries and banking institutions can use this report to assess their financing or investment strategies.
- Department of Defense: Defense department and other Governmental Organizations involved with the research and development of defense strategies using additive manufacturing can use this report to support their research.
- Department of Information Technology: The Department of Information Technology could use this report to understand various technological indicators of top eleven industries. This would give them an overall perspective of potential markets.
- Decision Makers: The future investment and technology focus decisions could be formulated based on the inputs of this report. These could be across any of the industries that are covered in the report.
- Other Organizations: Various other NGO and Non- Governmental organizations involved with the research of development department for upcoming technologies can use this report to support their research.
