The report titled “Global Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering, Technology, End-user, and Geography – Forecast to 2031” has been released by ResearchAndMarkets.com. The additive manufacturing market is projected to grow significantly, reaching $93.36 billion by 2031, with a compound annual growth rate (CAGR) of 20.3% from 2024 to 2031.
Key factors driving this market include the increasing demand for complex part production, cost reduction in manufacturing processes, waste minimization, and advancements in product development and supply chains. Additive manufacturing also enables easy customization and bulk production, further fueling its adoption.
Regional Insights
In 2024, North America is expected to hold the largest share of the additive manufacturing market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America’s dominance is attributed to the presence of major market players and the rising demand for customized 3D-printed products across various sectors, including healthcare, consumer electronics, aerospace & defense, and automotive. Additionally, the region is embracing Industry 4.0, with increased collaborations and investments in advanced 3D printing technologies and supportive government initiatives.
Growth Opportunities and Challenges
The growing use of 3D printers for functional end-use parts, composite 3D printing, and advancements in regenerative medicine, particularly in aerospace and defense, present significant growth opportunities. However, challenges such as limited build sizes, material constraints, high processing costs, piracy concerns, a shortage of skilled professionals, and substantial initial investment requirements may hinder market growth.
Market Segmentation
By Offerings: In 2024, the services segment is anticipated to dominate the market, driven by the growing adoption of additive manufacturing and increased funding for companies in this sector. Key services include additive manufacturing services, education, repair and maintenance, consulting, and training.
By Technology: The fused deposition modeling (FDM) segment is expected to lead the market in 2024, thanks to its cost efficiency, ease of use, and adaptability in adjusting various process parameters. The technology’s popularity among major players further enhances its market presence.
By End Users: The consumer products segment is forecasted to hold the largest share in 2024, encompassing sectors like fashion, eyewear, footwear, and personalized accessories. The growth is driven by increased production in consumer electronics, luxury goods spending, and demand for decorative arts.
Market Trends
- Adoption of artificial intelligence (AI) in 3D printing.
- On-demand production of spare parts.
- Growing emphasis on product customization.
Case Studies and Value Chain Analysis
The report also includes case studies on additive manufacturing in the automotive industry, digital manufacturing, and a thorough analysis using Porter’s Five Forces framework.
Company Profiles
Key players in the additive manufacturing market include:
- 3D Systems Corporation (U.S.)
- Stratasys Ltd. (U.S.)
- EOS GmbH (Germany)
- Materialise NV (Belgium)
- Autodesk Inc. (U.S.)
- Canon Inc. (Japan)
These companies are profiled with insights into their financials, product portfolios, and strategic developments.
For more detailed information, visit the full report at ResearchAndMarkets.com.
