The global metal 3D printing market size is expected to reach USD 22.60 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 23.9% from 2022 to 2030. Metal 3D printing is also referred to as Additive Manufacturing (AM) as it involves successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes build upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of metal and the unnecessary metal is ground out to obtain the desired object.
Metal 3D Printing Market Report Highlights
- North America accounted for the largest revenue share in 2021 owing to the technology’s early and greater adoption rate. The region is predicted to witness steady growth over the forecast period as the U.S. emerged as the highest revenue generating country in 2021
- Increasing adoption of metal 3D printers in the healthcare, automotive, and consumer electronics verticals is likely to drive the market significantly
- Asia Pacific, which is emerging as a manufacturing hub for several industry verticals, is expected to grow significantly as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt metal 3D printing, particularly in countries, including China, Japan, and South Korea
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The aerospace sector, an undisputed user of metal processes, recorded a sharp decline due to the COVID-19 pandemic. nevertheless, the metal 3D printing market is showing some rather positive signs, with the gradual recovery of activities. The metal 3D printing industry is estimated to exhibit significant growth throughout the forecast period owing to a combination of numerous factors such as the growing demand for rapid prototyping, which allows the manufacturers to design and develop better products and systems. Additionally, the ease of manufacturing and added benefits offered by the 3D printing technology are again major factors behind the greater adoption of the technology across various industry verticals.
Metal 3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The automotive vertical happens to be the most significant adopter of the metal 3D printing technology and eventually leading to the largest market share of metal 3D printers for industrial applications. Additive manufacturing is anticipated to evolve over the forecast period.
The market is subject to witness a considerable economical appearance rather than being just a labor-intensive industrial manufacturing technique. Particularly in developing economies, such as Brazil, South Africa, and India, machining shops have managed to adopt alternative business models by installing 3D printers and offer related services, such as 3D printing materials, filaments, 3D modeling, and 3D printer software.
The metal 3D printing technology happens to be a capital-intensive technology. At the same time, manufacturers are holding misconceptions about prototyping rather than realizing the advantages associated with metal 3D printing. Moreover, the market lacks the standard process controls and a skilled workforce required for metal 3D printing. These are some of the factors that are expected to restrain market growth. However, government initiatives aimed at increasing awareness and promoting the benefits of adopting metal 3D printers are expected to help in countering the market restraints.
Metal 3D Printing Market Insights By Geographical Regions:
Europe happens to be the largest region in terms of its geographical footprint. North America dominated the market and accounted for over 30.0% share of the global revenue owing to the extensive adoption of additive manufacturing in the region. North American countries such as the U.S. and Canada have been among the prominent and early adopters of these technologies in various manufacturing processes. Asia Pacific is projected to expand at the highest CAGR over the forecast period. The Asia Pacific region is also emerging as a manufacturing hub for the automotive and healthcare industries.
Industry Analysis By Major Manufacturers:
Market players in the market are improvising the technology continuously in response to the growing demand for metal 3D printing applications from the automotive, healthcare, and aerospace and defense verticals for manufacturing purposes. Several key market players are increasingly undergoing mergers and acquisitions along with the new industry entrants so as to expand their geographic presence and capture the escalating market potential. Some prominent players in the global metal 3D printing market include:
- Materialise NV
- 3D Systems, Inc.
- GE Additive
- Autodesk Inc.
- Optomec, Inc.
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Metal 3D Printing Market Segmentation
Grand View Research has segmented the global metal 3D printing market based on component, technology, software, application, vertical, and region:
Metal 3D Printing Component Outlook (Revenue, USD Million, 2017 – 2030)
- Hardware
- Software
- Services
Metal 3D Printing Technology Outlook (Revenue, USD Million, 2017 – 2030)
- Selective Laser Sintering
- Direct Metal Laser Sintering
- Inkjet Printing
- Electron Beam Melting
- Laser Metal Deposition
- Laminated Object Manufacturing
- Electron Beam Freeform Fabrication
- Selective Laser Melting
Metal 3D Printing Software Outlook (Revenue, USD Million, 2017 – 2030)
- Design Software
- Inspection Software
- Printer Software
- Scanning Software
Metal 3D Printing Application Outlook (Revenue, USD Million, 2017 – 2030)
- Prototyping
- Tooling
- Functional Parts
Metal 3D Printing Vertical Outlook (Revenue, USD Million, 2017 – 2030)
- Automotive
- Aerospace & Defense
- Healthcare
- Consumer Electronics
- Power & Energy
- Others
Metal 3D Printing Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- South America
- Brazil
- Middle East & Africa
List of Key Players of Metal 3D Printing Market
- Materialise NV
- 3D Systems, Inc.
- GE Additive
- Autodesk Inc.
- Optomec, Inc.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Grand View Research employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecast possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation that looks market from three different perspectives.