Portland,OR, Sept. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global metal additive manufacturing market generated $2.6 billion in 2021, and is projected to reach $14.1 billion by 2031, growing at a CAGR of 18.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.6 billion |
| Market Size in 2031 | $14.1 billion |
| CAGR | 18.1% |
| No. of Pages in Report | 205 |
| Segments Covered | Type, component, end user industry, and region |
| Drivers | Increase in the standard of living |
| Rapid industrialization | |
| Opportunities | Numerous advantages over traditional methods of component or object manufacturing such as less waste generation, fast-paced production, and recreation of legacy parts |
| Persistent technological advancements | |
| Restrains | Extortionate cost of infrastructure |
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COVID-19 Scenario:
- The global metal additive manufacturing market experienced a negative impact due to the spread of coronavirus in numerous countries around the world.
- Owing to the stringent regulatory restrictions as imposed by governments of various countries, there was halt in the manufacturing operations across various industries, including those of the metal additive manufacturing.
- Thus, failure in installation of metal additive manufacturing systems through OEMs during the lockdown period severely impacted the market.
- In addition, reduction in workforce and ban on import and export of raw materials further aggravated the growth of the market. However, the market is expected to recoup with the growth of the automotive industry.
The report offers detailed segmentation of the global metal additive manufacturing market based on type, component, end user industry, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
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Based on type, the powder bed fusion segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The bound powder extrusion segment, on the other hand, is expected to cite the fastest CAGR of 18.7% during the forecast period.
Based on component, the systems segment held the dominating market share in 2021, holding nearly four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The service and parts segment, on the other hand, is expected to cite the fastest CAGR of 18.9% during the forecast period.
Based on end-user industry, the aerospace segment held the dominating market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. The healthcare segment, on the other hand, is expected to cite the fastest CAGR of 18.6% during the forecast period.
Based on region, the market across the North America held the largest market share in 2021, holding more than two-thirds of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 19.4% during the forecast period.
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The key players analyzed in the global metal additive manufacturing market report include BeAM Machines, DMG Mori Seiki Co., Ltd., EOS GmbH, Farsoon Technologies, GE Additive, Renishaw Plc, Sisma SpA, SLM Solutions, Trumpf, and Xi‘an Bright Laser Technologies Co., Ltd.
The report analyzes these key players in the global metal additive manufacturing market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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