Hybrid Additive Manufacturing Market Forecasts to 2028 – Global Analysis By Material (Nickel, Aluminum, Titanium, Steel, Other Materials), Product (Metal Forming, Non-material Forming, Biomaterial Forming), Application (Repair, Production, Prototype, Othe

Hybrid Additive Manufacturing Market Forecasts to 2028 – Global Analysis By Material (Nickel, Aluminum, Titanium, Steel, Other Materials), Product (Metal Forming, Non-material Forming, Biomaterial Forming), Application (Repair, Production, Prototype, Other Applications), End User (Automotive, Aerospace and defense, Medical, Energy and power, Electronics, Heavy Industry, Tooling & Mold, Other End Users), and Geography

According tStratistics MRC, the Global Hybrid Additive Manufacturing Market is accounted for $128.2 billion in 2022 and is expected treach $325.6 billion by 2028 growing at a CAGR of 16.8% during the forecast period. In the manufacturing industry, hybrid additive manufacturing is generally utilised tenhance item quality and performance over advance processing. A number of end-use sectors are alsheavily implementing hybrid additive manufacturing systems tmeet strict industry requirements due tthe process' speed and ability tdeliver digitized adaptability and effectiveness tmanufacturing operations.

Market Dynamics:

Driver:

Growing demand of hybrid additive manufacturing

The rise in surgical procedures, an increase in the use of cutting-edge technologies, and increased public awareness of medical technology, hybrid additive manufacturing is becoming increasingly popular in the medical industry. The multi-axis system used in hybrid additive manufacturing overcomes the shortcomings of both the additive manufacturing system and enables the fabrication of parts that may move in any direction. Additionally, advantages like the ability tcharacterise materials and develop processes, improved productivity, materials cost savings, etc. are some of the main benefits that further boost the popularity of hybrid additive manufacturing across the globe.

Restraint:

Shortage of labour

Trun the machinery, professional and knowledgeable staff is needed. Companies must spend a lot of money on costly professional workout sessions for workers sas tpreserve performance of the equipment and eliminate system breakdown problems. Thus, due ta lack of competent labour throughout the projection period, market growth is hampered.

Opportunity:

Demand in automotive sector and technical advancements

As improving the efficiency of the machinery and the entire production process, industrial software can contribute trising product demand. The market for hybrid additive manufacturing machines has seen a recent shift towards hybrid 3D printing technologies. This technology offers production options that save time, require less manual labour, and are less expensive. In the automotive industry, traditional additive manufacturing requires longer production times. Using hybrid additive manufacturing, it is feasible treduce production time while creating precise parts with great surface and finish quality. The automobile industry needs a lot of vehicles and other autparts on a global scale.

Threat:

High initial investments

The expensive initial outlays and installation fees related tthis equipment are restricting the market's expansion. Also, because of the substantial initial expenditure requirements, manufacturing firms and SMEs with little investment capacity are unable tuse the machinery. Thus, throughout the forecasted period, market expansion is constrained.

Covid-19 Impact

It is anticipated that the market for hybrid additive manufacturing would gthrough a brief period of slow revenue development. Production activities across numerous industries have been affected by supply-chain disruptions brought on by this outbreak. With the implementation of rigorous regulations and other government directives intended tstop the virus's spread, a number of businesses were compelled ttemporarily cease operations. Nonetheless, different market participants mostly in global Hybrid Additive Manufacturing market are currently putting more of an emphasis on the creation of fruitful mergers, acquisitions, or joint venture operations as a way texpand their respective clienteles. This feature along with promising manufacturing possibilities in emerging economies are likely tprovide huge commercial opportunities for major companies during the forecast period.

The Titanium segment is expected tbe the largest during the forecast period

The Titanium segment is estimated thave a lucrative growth. Benefits of titanium include its resistance tcorrosion and top strength-to-density ration among all metals. Moreover, the material is rigid and resistant tchemical attacks. Because the substance is biocompatible, it can be used in medicinal applications. It is anticipated that the increasing use of medical implants would open up greater opportunities for the participants. The biodegradability of medical implants can be adjusted with the use of hybrid additive manufacturing. This aids in lowering the possibility of long-term implant-related problems.

The Production segment is expected thave the highest CAGR during the forecast period

The Production segment is anticipated twitness the fastest CAGR growth during the forecast period. A gradual transition from conventional production processes towards hybrid additive manufacturing techniques is happening across several industries. Additive manufacturing has made it possible tbuild intricate parts with a variety of shapes quickly. This is due tthe fact that throughout the production process, material was deposited layer by layer rather than machined tcreate the shape. As a result, production times are shortened and less material is consumed. This aids in lowering component production costs as well.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period owing texpansion of 3D printing in China and Japan. Increased investments and the expansion of the aerospace industry are alspredicted tcontinue tbe major drivers of the regional growth market.

Region with highest CAGR:

North America is projected thave the highest CAGR over the forecast period, owing theavily developed and benefits from cutting-edge technologies. This provides both small and large businesses with several chances tbetter meet the needs of their customers. It is anticipated that the market for additive manufacturing would keep expanding exponentially. Technology use is expanding rapidly across a wide range of applications and sectors, which is fueling ongoing advances and advancements in both technology and materials. Also, the rising investments in the manufacturing industry are fueling the market for additive manufacturing in the area by creating a need for it.

Key players in the market

Some of the key players profiled in the Hybrid Additive Manufacturing Market include 3D Systems, Inc., Centorr Vacuum Industries, Mazak Corporation, Siemens, Matsuura Machinery Corporation, General Electric Co., Stratasys Ltd, CRS Holdings, LLC., Integer Holdings Corporation, Biomedical Modeling Inc., Voxeljet AG, Equispheres , Carpenter Technology Corporation, Hoganas AB AND Melrose Industries PLC.


Key Developments:

In December 2019, Carpenter Technology Corporation announced its new additive manufacturing facility in Athens, Alabama. The new 500,000 square feet plant was set up tmeet the energy and aerospace industries' demands. This expansion is expected tbe a game-changer in the advancement of additive manufacturing technology.

In February 2018, Carpenter Technology Corporation announced the acquisition of MB CalRAM LLC, a leader in the powder-bed fusion hybrid additive manufacturing market. This will help Carpenter taccelerate customer relationships and tenhance its capabilities tbecome the preferred supplier of next-generation additive manufacturing products.

In March 2017, Carpenter Technology Corporation announced the acquisition of Puris LLC, a producer of titanium powder used in additive manufacturing and applications in advanced technologies. The value of the deal was USD 35 Million. This will help Carpenter tventure intthe titanium powder market and expand its presence in the additive manufacturing market.

Materials Covered:
• Nickel
• Aluminum
• Titanium
• Steel
• Other Materials

Products Covered:
• Metal Forming
• Non-material Forming
• Biomaterial Forming

Applications Covered:
• Repair
• Production
• Prototype
• Other Applications

End Users Covered:
• Automotive
• Aerospace and defense
• Medical
• Energy and power
• Electronics
• Heavy Industry
• Tooling & Mold
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements