Additive Manufacturing Market Recent Developments, Research Analysis Forecast 2034

 The world additive manufacturing market stands at US$ 26.79 billion in 2024 according to a fresh study released by Fact.MR, a market research and competitive intelligence firm. Global sales of additive manufacturing solutions are anticipated to grow ahead at 21.6% CAGR during 2024-2034.

More companies these days are likely to sustainable production practices because of their positive impacts on the environment. Compared to conventional production, additive manufacturing offers a number of environmental benefits. Energy and waste reduction are two significant benefits of additive manufacturing technologies over conventional production processes. Additive manufacturing eliminates the use of extra materials required for production with greater efficiency.

3D printing is chosen as the most advanced and latest manufacturing method. This technology is gaining popularity and capable of replacing conventional manufacturing methods in a number of end-use sectors. Medical, electronics, aerospace, defense, and other sectors are willing to embrace these additive manufacturing methods. Advances in electronics manufacturing are expected to result in more automation, and, in turn, additive manufacturing technologies.

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Key Takeaway from Market Study

  • The international additive manufacturing industry is valued at US$ 26.79 billion in the year 2024.
  • Global additive manufacturing technologies demand is to value at US$ 189.34 billion as of the year 2034.
  • The market is estimated to grow with a productive CAGR of 21.6% during 2024 to 2034.
  • North America will dominate with a share of 29.1% in the world's additive manufacturing industry as of the year 2034.
  • China's demand for additive manufacturing technologies is expected to grow at 22.4% CAGR between 2024 and 2034.
  • Canada's market is expected to be US$ 9.26 billion by the end of 2034.
  • The medical sector is expected to have 22.1% of the total market revenue worldwide by 2034.

"Growing usage of additive manufacturing methods across various industries, such as aerospace and defense, to create intricate parts and light-weight components is anticipated to be one of the major growth drivers," provides a Fact.MR analyst.

Browse Full Report: https://www.factmr.com/report/additive-manufacturing-market 

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 industry is forecasted to grow at 23% CAGR and reach a market value of US$ 27.64 billion by the end of 2034. Increased adoption of additive manufacturing methods is responsible for the simplification of the supply chain, speeding up prototyping, making customization easier, and allowing the manufacture of lightweight parts.

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).

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