Additive Manufacturing Market by Type (Desktop 3D Printer and Industrial 3D Printer), Technology (Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melti

Additive Manufacturing Market by Type (Desktop 3D Printer and Industrial 3D Printer), Technology (Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melting, Laser Metal Deposition, Digital Light Processing, Laminated Object Manufacturing, and Other Technology), by Component (Hardware, Software and Services), by Application (Prototyping, Tooling and Functional Parts), and by End User (Desktop Additive Manufacturing and Industrial Additive Manufacturing) – Global Opportunity Analysis and Industry Forecast, 2024–2030

The Additive Manufacturing Market size was valued at USD 20.51 billion in 2023, and is predicted to reach USD 92.70 billion by 2030, with a CAGR of 24.0% during the forecast period, 2024–2030.

The increasing healthcare expenditure worldwide is driving the adoption of additive manufacturing (AM) in the production of customized medical devices. Healthcare providers are investing in innovative solutions to enhance patient outcomes and operational efficiency, leveraging AM's ability to produce patient-specific implants and devices tailored to individual anatomical requirements. As per the report published by the World Bank, the global contribution of healthcare spending in GDP was accounted for 10.35% for the year 2022. Moreover, the healthcare expenditure to GDP ratio remained the highest in the U.S. at 16.6% in 2022, followed by Germany at 12.7% and France at 12.1%. This surge in healthcare expenditure necessitates the integration of advanced 3D printing systems for creating patient-specific medical implants and devices, enabling healthcare providers to deliver more personalized and effective care.

However, the high upfront costs associated with additive manufacturing (AM) equipment, materials, and training pose a significant challenge to market growth. The substantial investment required for adopting AM technology is a major obstacle, particularly for smaller businesses, as it limits their ability to enter the market or expand their capabilities.

On the contrary, the integration of artificial intelligence (AI) in additive manufacturing (AM) holds immense potential to drive market expansion by optimizing production processes, enhancing product design capabilities, and enabling the creation of highly customized and complex objects. By analyzing vast amounts of data collected during the printing process, AI algorithms can identify patterns, optimize settings, and predict potential defects, leading to improved print quality, efficiency, and reduced waste. One notable example is the launch of Kokoni's SOTA series 3D printer in April 2023, which incorporates AI-powered modeling for enhanced performance. As industries increasingly recognize the value of data-driven insights and predictive analytics in optimizing manufacturing operations, the incorporation of AI in 3D printing is expected to create future market opportunities and accelerate the growth of the additive manufacturing industry.

Segment Overview
The global additive manufacturing industry is segmented on the basis of type, technology, component, application, end-user, and region.
 By type, the market is divided into desktop 3d printer and industrial 3d printer.
 By technology, the market is categorized into stereolithography, fused deposition modeling, selective laser sintering, direct metal laser sintering, polyjet printing, inkjet printing, electron beam melting, laser metal deposition, digital light processing, laminated object manufacturing and other technologies.
 By component, the market is classified into hardware, software and services.
 By application, the market is segmented into prototyping, tooling and functional parts.
 By end-user, the market is again divided into desktop additive manufacturing and industrial additive manufacturing.
 By region, the market is segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW).

Regional Analysis
North America Holds the Dominant Share of Additive Manufacturing Market
North America dominates the 3D printed automotive components market due to the well-established automotive industry in the United States, Canada, and Mexico. As per the report published by the Center for Automotive Research in 2022, the automotive industry in the U.S. spends approximately USD 16 to USD 18 billion annually on research and product development, with 99% of that funding coming directly from the industry itself. This surge in spending reflects a strategic shift towards the adoption of additive manufacturing (AM) for rapid prototyping, tooling, and the production of end-use parts within the U.S. automotive sector.

Additive Manufacturing Market Key Players
The key players in the global additive manufacturing market include:
• HP Inc.
• Colibrium Additive (GE Aerospace)
• EOS GmbH
• Stratasys
• Trumpf
• 3D Systems, Inc.
• Formlabs
• Desktop Metal Inc.
• DMG Mori AG
• Proto Labs, Inc.

Recent Developments
April 2024
HP Inc. partnered with Metal Injection Molding (MIM) company Indo-MIM to mass produce metal 3D parts in India using HP's 3D Binder Jet technology, with the companies expecting a nearly 40% growth in India. The collaboration aims to enable large-scale production of high-precision metal parts for various industries, reduce imports, and enhance national security by producing spare parts domestically.

April 2024
Formlabs launched the Form 4 and Form 4B, their next-generation resin 3D printers that redefine the industry standard for speed, accuracy, reliability, and material versatility. Powered by a new proprietary Low Force Stereolithography (LFS) print engine, these printers deliver print speeds up to 5 times faster than previous models without compromising on dimensional accuracy or surface finish.

February 2024
Trumpf partnered with European space-travel start-up to use 3D printing for the construction of core components for spacecraft engines. The aim of this project is to make the Huracan engine reusable in orbit with bio-methane and oxygen, with TRUMPF's 3D printers printing parts for the Huracán and Mistral engines for the Nyx Earth and Nyx Moon spacecraft in Munich.

KEY BENEFITS
• The report provides quantitative analysis and estimations of the additive manufacturing market from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities to capitalize on.
• The study comprises a detailed analysis of the additive manufacturing market trends, including the current and future trends to depict the prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the additive manufacturing market is provided in the report.
• The competitive analysis of the market players along with their market share in the additive manufacturing market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the roles of stakeholders.