About Metal Additive Manufacturing Systems
Metal Additive Manufacturing is majorly known as 3D printing. Metal Additive Manufacturing is a growing technology that is evolving in the face of the manufacturing industry. It is evolving at a rapid pace across the globe. The United States and are spearheading the early development of metal additive manufacturing. These Western regions including North America and Europe cover more than two-thirds market share ~68%. Talking about India, it is considered in the challenging region or as one of the emerging countries in metal additive manufacturing.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
There are various companies are operating in this market are exploring the market in new geographical regions by adopting various initiatives such as mergers & acquisitions, expansions, investments, new solution launches and collaborations as their strategies. This market is seeing trend is now rapidly shifting towards industrial & manufacturing applications, owing to growing awareness and declining prices for industrial 3D printers. Because of this, there are various new market players are entering in this market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Metal Additive Manufacturing Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Renishaw (United Kingdom), SLM Solutions (Germany), GE additive (Germany), Evonik (Germany), GKN Sinter Metals Engineering GmbH (Germany), 3D Systems, Inc. (United States), Stratasys Ltd. (Israel) and ExOne (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Materialise NV (Belgium), EnvisionTEC (Germany) and EOS (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Metal Additive Manufacturing Systems market by Type (Powder Bed Fusion, Directed Energy Deposition, Binder Jetting and Sheet Lamination), Application (Prototyping, Production and Proof of Concept Models) and Region.
On the basis of geography, the market of Metal Additive Manufacturing Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Industrial Machinery will boost the Metal Additive Manufacturing Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Printer will boost the Metal Additive Manufacturing Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Relevancy in Manufacturing 4.0, The Major Trend in the Manufacturing Industry Revolutionize the Businesses by Providing a Radically New Method of Production for Better Design and Low Cost of Productivity and Develop New Business Models and New Sources of Growth and Revenue
Market Growth Drivers:
Technology Advancement in CAD Software Solutions, Large Scale Capital Investment, Greater Number of 3D Printing Applications, 3D Printing Start-Ups Emerged and Accelerating Integration of 3D Printing Factors and Resources
Challenges:
Less Number of Additive Manufacturing Companies
Restraints:
Lack of Raw Material Availability and Issues Related to Costs, Quality, and Development
Opportunities:
Increasing Investments in the Indian Manufacturing sector have been on the rise, both domestic and foreign. Coupled with gross fixed capital formation, which represents net investments of approximately (~USD 405.88 billion) through FY 2019-20. Along with that Government Initiatives such as “Make in India” as well as specific incentives to manufacturing companies, are aiming towards supporting the 3D printing.
Market Leaders and their expansionary development strategies
In October 2023,The global motion technology company Schaeffler is strengthening its know-how in additive manufacturing technologies with the acquisition of Belgian startup Aerosint SA from Desktop Metal, a leading U.S. manufacturer of innovative 3D printing systems. Both parties have agreed not to disclose details of the transaction. Additive manufacturing is simpler than conventional manufacturing processes when it comes to producing components with complex geometries.
In Jun 2020, EOS announced the expansion of its range of premium and core metal materials for additive manufacturing. The company revealed seven new products for the EOS M 290, EOS M 300-4, and EOS M 400-4 systems. Through this initiative, the company is trying to become more competitive in this market.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Metal Additive Manufacturing Systems Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.