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Redding, California - May 29, 2024

Additive Manufacturing Market to be Worth $93.36 Billion by 2031

Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Materials, Services) Technology (FDM, DMLS, SLA, SLS, Polyjet, DED) End User (Consumer, Electronics, Healthcare, Automotive, Aerospace) – Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Materials, Services) Technology (FDM, DMLS, SLA, SLS, Polyjet, DED) End User (Consumer, Electronics, Healthcare, Automotive, Aerospace) - Global Forecast to 2031.’

According to this latest publication from Meticulous Research^®, the additive manufacturing market is expected to reach $93.36 billion by 2031, at a CAGR of 20.3% from 2024–2031. The growth of the additive manufacturing market is driven by the rising need to produce complex parts, reduce manufacturing expenses, and minimize waste, improvements in product development and supply chains, and easy customization and bulk production using additive manufacturing. However, the restricted build sizes and pre-processing and post-processing costs may restrain the growth of this market.

Furthermore, the growing use of 3D printers to produce functional end-use parts and composite 3D printing are expected to offer significant growth opportunities for players operating in the additive manufacturing market. However, the concerns about piracy and unauthorized distribution and a scarcity of skilled professionals may hinder the growth of this market.

On-demand spare parts production, increased product customization, and the use of AI in 3D printing are prominent trends in this market.

The additive manufacturing market is segmented into Offering (Hardware, Software, Materials {Polymers, Metals, Ceramics, Composites, and Other Materials}, and Services), Technology (Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Direct Metal Laser Sintering (DMLS), PolyJet, Stereolithography (SLA), Digital Light Processing (DLP), Directed Energy Deposition (DED), Multi Jet Fusion, Binder Jetting, LCD 3D Printing, Laser Metal Fusion (LMF), Electron Beam Melting (EBM), Selective Absorption Fusion (SAF), and Other Technologies), and End User (Consumer Products{Consumer Electronics, Jewelry & Luxury Goods, Decorative Art, Parts & Fixtures}, Healthcare {Dental, Prosthetic Printing, Prototype and 3D models, Instrument Printing, and Bioprinting Tissues and Organs}, Automotive {Custom and Spare Parts, Prototyping, and Mounts & Fixtures}, General Manufacturing {Machinery & Equipment Manufacturing, Molds and Tools Printing, and Parts & Prototype Printing}, Electronics & Semiconductors {IC & PCB and Electronic Components}, Aerospace & Defense {Prototype & Test Units, Body & Spare Parts, Weapon Printing, and Mounts & Fixtures}, Chemicals & Materials, Energy, Oil & Gas, and Other End Users, and Geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on offering, the additive manufacturing market is segmented into hardware, software, materials, and services. Further, the materials market is segmented into polymers, metals, ceramics, composites, and other materials. In 2024, the services segment is expected to account for the largest share of above 52.8% of the additive manufacturing market. The segment includes services such as additive manufacturing services, education, repair & maintenance or consulting services, and training services associated with additive manufacturing hardware and software. The large share of the segment is attributed to the increasing number of service providers, increasing reliance of end users on the service providers, and increasing benefits of outsourcing. Additionally, the increasing deployment of 3D printers across industries is expected to increase support & maintenance services requirements to improve business processes, constant modification, updates, and re-assessments.

Based on technology, the additive manufacturing market is segmented into Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Direct Metal Laser Sintering (DMLS), polyjet, multi-jet fusion, Digital Light Processing (DLP), binder jetting, Electron Beam Melting (EBM), Directed Energy Deposition (DED), Laser Metal Fusion (LMF), Selective Absorption Fusion (SAF), LCD 3D printing, and other technologies. In 2024, the Fused Deposition Modeling (FDM) segment is expected to account for the largest share of 11.5% of the additive manufacturing market. The large share of this segment can be attributed to the increasing application areas of technology such as automotive, aerospace, general manufacturing, healthcare, consumer goods, and jewelry industries, cost-effectiveness, and increasing use of FDM technology by numerous manufacturers.

Based on end user, the additive manufacturing market is segmented into consumer products, healthcare, automotive, general manufacturing, electronics & semiconductors, aerospace & defense, chemicals & materials, energy and oil & gas, and other end users. The automotive segment is projected to register the highest CAGR of 22.4% during the forecast period. The growth of this segment can be attributed to various factors, as additive manufacturing is utilized for rapid tooling and fixture production in automotive manufacturing processes. AM allows automotive engineers to optimize component performance and integrate multiple functions into a single part. Moreover, automotive manufacturers and aftermarket suppliers leverage AM to produce spare parts, replacement components, and obsolete parts on demand. AM enables decentralized production, inventory optimization, and cost-effective spare parts management, ensuring supply chain resilience and customer satisfaction. Such factors help to improve the growth of additive manufacturing in the automotive industry during the forecast period.

Based on geography, the additive manufacturing market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to register the highest CAGR of 22.1% during the forecast period. The high growth of the Asia-Pacific market is attributed to the rapid developments in the manufacturing sector in Asia-Pacific with growing interests in new technologies for efficient production. Additionally, increased digitization has fueled the growth and adoption of additive manufacturing for end-use industries such as consumer goods, construction, medical, electronics and semiconductor, and research and education. Moreover, the Asia-Pacific region has a vibrant startup ecosystem with a growing number of additive manufacturing startups specializing in 3D manufacturing. These startups drive innovation, competition, and collaboration in the additive manufacturing market, contributing to market growth.

Key Players

Some of the key players operating in the additive manufacturing market are 3D System Corporation (U.S.), 3Dceram (France), Dassault Systemes SE (France), Colibrium Additive (U.S.), Materialise NV (Belgium), Shapeways Holdings, Inc. (U.S.), Canon Inc. (Japan), voxeljet AG (Germany), Optomec, Inc. (U.S.), Proto Labs, Inc. (U.S.), Stratasys, Ltd. (U.S.), EOS GmbH (Germany), Desktop Metal, Inc. (U.S.), Formlabs Inc. (U.S.), and Autodesk, Inc. (U.S.).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5838

Key Questions Answered in the Report:

What are the high-growth market segments in terms of offering, technology, and end user?
What is the historical market size for the additive manufacturing market?
What are the market forecasts and estimates for 2024–2031?
What are the major drivers, restraints, opportunities, challenges, and trends in the additive manufacturing market?
Who are the major players in the additive manufacturing market, and what are their market shares?
What is the competitive landscape like?
What are the recent developments in the additive manufacturing market?
What are the different strategies adopted by major market players?
What are the trends and high-growth countries?
Who are the local emerging players in the additive manufacturing market, and how do they compete with other players?

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Redding, California - May 29, 2024

Additive Manufacturing Market to be Worth $93.36 Billion by 2031

Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Materials, Services) Technology (FDM, DMLS, SLA, SLS, Polyjet, DED) End User (Consumer, Electronics, Healthcare, Automotive, Aerospace) – Global Forecast to 2031

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