Rockville, Dec. 21, 2023 (GLOBE NEWSWIRE) -- The global additive manufacturing market is estimated at US$ 26.79 billion in 2024, as per a new research published by Fact.MR, a market research and competitive intelligence provider. Worldwide sales of additive manufacturing solutions are projected to surge ahead at 21.6% CAGR from 2024 to 2034.
More businesses nowadays are inclined to sustainable manufacturing practices due to their favorable environmental effects. In comparison with traditional production, additive manufacturing provides several environmental advantages. Waste and energy minimization are two noteworthy advantages of additive manufacturing technologies compared to conventional manufacturing procedures. Additive manufacturing uses only materials necessary for production with higher efficiency.
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3D printing is opted as the most advanced and recent manufacturing technique. This technology is becoming popular and able to successfully replace traditional manufacturing techniques in several end-use industries. Medical, electronics, aerospace, defense, and various other industries are inclined to adopt these additive manufacturing techniques. Technological advancements in electronics manufacturing are predicted to lead to increased automation, and, subsequently, additive manufacturing technologies.
| Report Attribute | Details |
| Value Projection (2034) | US$ 189.34 Billion |
| Growth Rate (2024-2034) | 21.6% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 84 Tables |
| No. of Figures | 112 Figures |
Key Takeaway from Market Study
- The global additive manufacturing market is pegged at US$ 26.79 billion in 2024.
- Worldwide demand for additive manufacturing technologies is set to reach a valuation of US$ 189.34 billion by the end of 2034.
- The market is predicted to expand at a prolific CAGR of 21.6% from 2024 to 2034.
- North America is projected to account for 29.1% of the global market share by 2034.
- Demand for additive manufacturing technologies in China is forecasted to expand at 22.4% CAGR from 2024 to 2034.
- The market in Canada is predicted to reach US$ 9.26 billion by 2034-end.
- The medical segment is forecasted to account for 22.1% share of global market revenue by 2034.
“Rising use of additive manufacturing techniques in several industries, including aerospace and defense, for the production of complex parts and lightweight components is predicted to be one of the key growth drivers,” says a Fact.MR analyst.
Key Market Players
- Renishaw Plc.,
- Wipro Limited,
- Materialise,
- ANSYS, Inc.,
- Evonik,
- Siemens Industry Software Inc.,
- Stratasys Ltd.,
- General Electric,
- Xerox Corporation,
- AMFG,
- Mazak Corporation,
- American Additive Manufacturing LLC,
- Optomec are leading additive manufacturing solution providers.
Growing Adoption of Additive Manufacturing in Automotive Sector
Demand for additive manufacturing solutions in the automotive sector is predicted to increase at 23% CAGR and reach a market value of US$ 27.64 billion by 2034-end. Rising adoption of additive manufacturing techniques contributes to the streamlining of the supply chain, expediting prototyping, facilitating customization, and enabling the production of lightweight components.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the additive manufacturing market, presenting historical demand data for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (hardware, material, software), technology (power bed fusion, direct energy deposition, material jetting, material extrusion, photopolymerization), and application (medical, automotive, aerospace & defense, consumer electronics, architecture, industrial equipment, education & research institutions), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
3D Printing Materials Market: The 3D printing materials industry is expected to expand at a stellar 26% CAGR by 2031.
3D Printing Medical Devices Market: The global 3D printing medical devices market is estimated at USD 2.9 Billion in 2022 and is forecast to surpass USD 11.5 Billion by 2032, growing at a CAGR of 14.5% from 2022 to 2032.
3D Printing Plastics Market: The global 3D printing plastics market is projected to rise at a prolific CAGR of 20% through 2028.
Dental 3D Printing Market: Global demand for dental 3D printing is forecasted to reach a value of US$ 21.9 billion by 2033-end.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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