Metal 3D Printing Market Size to Hit $22.60 Billion by 2030 - Grand View Research, Inc.

SAN FRANCISCO, Sept. 13, 2022 /PRNewswire/ -- 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.

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.

Key Industry Insights & Findings from the report:

• 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.

Read 250-page full market research report, "Metal 3D Printing Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Technology, By Software, By Application, By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Metal 3D Printing Market Growth & Trends

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 Segmentation

Grand View Research has segmented the global metal 3D printing market based on component, technology, software, application, vertical, and region:

Metal 3D Printing Market - Component Outlook (Revenue, USD Million, 2017 - 2030)

• Hardware
• Software
• Services

Metal 3D Printing Market - 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 Market - Software Outlook (Revenue, USD Million, 2017 - 2030)

• Design Software
• Inspection Software
• Printer Software
• Scanning Software

Metal 3D Printing Market - Application Outlook (Revenue, USD Million, 2017 - 2030)

• Prototyping
• Tooling
• Functional Parts

Metal 3D Printing Market - Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• Automotive
• Aerospace & Defense
• Healthcare
• Consumer Electronics
• Power & Energy
• Others

Metal 3D Printing Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Spain
• Italy
• 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.

Check out more related studies published by Grand View Research:

• 3D Machine Vision Market - The global 3D machine vision market size is expected to reach USD 3.46 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 14.7% over the forecast period. The ability of 3D machine vision systems to process a large amount of information in a fraction of seconds is a major factor driving the market growth.
• Smart Building Market - The global smart building market size is expected to reach USD 570.02 billion by 2030 and expand at a CAGR of 25.3% from 2022 to 2030. The growing demand for energy-efficient systems, the rise in adoption of Internet of Things (IoT)-enabled Building Management systems (BMS), and growing industry standards and regulations are anticipated to drive the adoption of smart building solutions and services.
• Visualization & 3D Rendering Software Market - The global visualization & 3D rendering market size is projected to reach USD 5.63 billion by 2025, according to a study conducted by Grand View Research, Inc., progressing at a CAGR of 22.5% during the forecast period. Rising need for innovative and cost-effective technologies for visualization and simulation is revving up the adoption of visualization & 3D rendering software.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg