Hybrid Additive Manufacturing Machines Market to Grow at 21.69% CAGR with Rising Awareness among OEMs

Hybrid additive manufacturing machines market - Snapshot

According to the report, the global hybrid additive-manufacturing machines market is likely to be influenced by the increasing adoption of hybrid additive-manufacturing machines across a wide range of industry verticals such as heavy industry, automotive, aerospace, and medical. Asia Pacific is projected to be at the forefront of global demand, with the market in the region expanding at a CAGR of 24.16% between 2018 and 2026. The global hybrid additive-manufacturing machines market is expected to reach US$ 6,757.1 Mn by 2026. The market is projected to expand at a CAGR of 21.69% during the forecast period.

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Production segment is expected to be highly lucrative for the global hybrid additive-manufacturing machines market

Based on application, the global hybrid additive-manufacturing machines market is segmented into repair, production, and prototype. There has been a shift in the manufacturing of complex components by means of additive manufacturing instead of conventional manufacturing methods. Complex components with complex geometries are being manufactured efficiently with the help of hybrid additive-manufacturing machines, as the material is added layer by layer for the production, instead of milling out the material to carve the shape. This results into reduced time for production and significant savings in the material being used. This further results in reduced cost of production of components.

Aerospace segment is expected to dominate the hybrid additive-manufacturing machines market around the globe

In terms of vertical, the hybrid additive-manufacturing machines market is segregated into heavy industry, automotive, aerospace, medical, energy, electronics, and others. The aerospace segment is expected to hold a prominent share of the market, owing to the rising rate of adoption of additive manufacturing methods for manufacturing of critical components in the industry. The aerospace industry requires the manufacturing of complex components that are light weight and robust in nature. These components can be manufactured efficiently with the help of HAM machines instead of conventional manufacturing methods. In January 2018, Airbus, a prominent players in the aerospace industry, collaborated with Switzerland-based technology group, Oerlikon, for the manufacturing of structural titanium components for the company.

North America is expected to continue to hold a significant share in the overall market

North America is expected to hold a major share of the global market for hybrid additive-manufacturing machines during the forecast period. The expansion is primarily due to the booming hybrid additive-manufacturing machines marketplace with the presence of well-established players across the region, especially across countries such as the U.S. and Canada. Furthermore, North America is witnessing significant adoption of hybrid additive-manufacturing machines owing to the consistent expansion of the automotive industry.

The market in Europe is projected to expand at a significant CAGR during the forecast period. Additionally, many associations in the manufacturing space are entering into strategic partnerships to improve and promote their additive-manufacturing capabilities. For instance, In February 2018, CECIMO, a Europe-based association of the machine tool industry signed an agreement with EPMA, European Powder Metallurgy Association for the promotion of additive manufacturing and to support the industry in Europe from one application of 3D printing to the other.

Hybrid additive-manufacturing machines are gaining popularity across Asia Pacific, especially across the economies of China, Japan, and India. Increasing awareness in the region pertaining to the advantages associated with additive manufacturing and HAM machines is expected to fuel the hybrid additive-manufacturing machines market in the region. China is projected to hold a significant share of the market owing to the presence of industries with potential adopters of HAM machines for manufacturing of complex components.

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DMG MORI Co., Ltd., Mazak Corporation, Matsuura Machinery Corporation, Stratasys Ltd, voxeljet AG, Optomec, SLM SOLUTIONS GROUP AG, are some of the major players operating in the hybrid additive-manufacturing machines market profiled in this study. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.. Also, market players are establishing partnerships, entering into strategic M&A, and expanding in order to enhance their hybrid additive-manufacturing machines offerings worldwide.

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This release was published on openPR.