Additive Manufacturing Market to be Worth $93.36 Billion by 2031

Meticulous Research®, a global leader in market intelligence, recently released a report titled, "Additive Manufacturing Market Size, Share, Forecast, & Trends Analysis by Offering (Hardware, Materials, Services), Technology (FDM, DMLS, SLA, SLS, Polyjet, DED), End User (Consumer, Electronics, Healthcare, Automotive, Aerospace) - Global Forecast to 2031."

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This report highlights that the additive manufacturing market is expected to reach $93.36 billion by 2031, growing at a CAGR of 20.3% from 2024 to 2031. The market's expansion is attributed to rising demand for complex parts, cost-efficient manufacturing, reduced waste, and streamlined supply chains. However, limitations in build size and high costs associated with pre-processing and post-processing may constrain growth.

Additionally, the increasing use of 3D printing for functional end-use parts and the emergence of composite 3D printing present significant growth opportunities. Concerns around piracy, unauthorized distribution, and a shortage of skilled professionals, however, may pose challenges.

Key market trends include on-demand production of spare parts, enhanced product customization, and the integration of AI in 3D printing processes.

Key Market Segmentation:
By Offering: The market is divided into hardware, software, materials, and services. Within materials, segments include polymers, metals, ceramics, composites, and others. Services are expected to hold the largest market share (above 52.8%) in 2024, driven by the rising demand for consulting, maintenance, and training services as industries increasingly adopt 3D printing technology.

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By Technology: The technologies covered include Fused Deposition Modeling (FDM), Selective Laser Sintering (SLS), Stereolithography (SLA), Direct Metal Laser Sintering (DMLS), PolyJet, Multi Jet Fusion, Digital Light Processing (DLP), and others. The FDM segment is anticipated to lead with an 11.5% market share in 2024 due to its affordability, versatility, and broad adoption across sectors like automotive, aerospace, consumer goods, and healthcare.

By End User: Segments include consumer products, healthcare, automotive, general manufacturing, electronics & semiconductors, aerospace & defense, chemicals & materials, and energy & oil & gas. The automotive segment is forecasted to experience the highest CAGR of 22.4%, driven by rapid tooling, fixture production, and the use of AM to produce spare and replacement parts on demand.

By Geography: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to grow at the highest CAGR of 22.1%, supported by advancements in manufacturing, increased digitization, and a thriving startup ecosystem focusing on 3D printing innovations.

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Leading Market Players
Key players in the additive manufacturing market include:

3D Systems Corporation (U.S.)
3Dceram (France)
Dassault Systèmes SE (France)
Colibrium Additive (U.S.)
Materialise NV (Belgium)
Shapeways Holdings, Inc. (U.S.)
Canon Inc. (Japan)
Voxeljet AG (Germany)
Optomec, Inc. (U.S.)
Proto Labs, Inc. (U.S.)
Stratasys, Ltd. (U.S.)
EOS GmbH (Germany)
Desktop Metal, Inc. (U.S.)
Formlabs Inc. (U.S.)
Autodesk, Inc. (U.S.)
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This report provides a detailed assessment of these competitors, alongside in-depth analysis across regional and country-level markets.

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This release was published on openPR.