Additive Manufacturing Market is estimated to grow at a CAGR of 18.01% to reach a value of US$159.519 million by 2025

Additive Manufacturing Market is estimated to grow at a CAGR of 18.01% to reach a value of US$159.519 million by 2025

By Gaurav Singh Press Releases

Knowledge Sourcing Intelligence announces the publication of a new report on “Additive Manufacturing Market – Forecast from 2020 to 2025” to their offering.

The particular term additive manufacturing translates to a procedure of creating objects from 3D models array with the means of additive material. The systems, procedures technologies, and applications are encompassed within this term.

According to the report, the Additive Manufacturing Market is projected to increase at a CAGR of 16.53% over the forecast period 2019-2025. Globally this market is poised to be influenced by various technological advancements as well as the continuous developments of the materials that are being used in the process. Further, the growing interest in more lightweight material too is going to drive the market for the same. Moroever, certain major players in this markethave adhered to certain competitive strategies, a few and set them inmotion. They are as follows:

Railways – one of the most important lifelines of any economy has quite a lot of mobbing parts associated with it. One of them is that of maintenance operations. To this end,Siemens Mobility GmbHin February 2020, has purchased two Stratasys Fortus 450mc systems to order to produce spare parts for its Russian business to which it is set to expand, especially after Siemens has been awarded a contract to build 13 high-speed Velaro trains for RZD, which is a Russian train company. Through this contract, Siemens will not only build the vehicles but also service and maintain the aforementioned for the next 30 years.  The previous implementation of 3D printing has allowed the organization operations in Russia to exhibit a feet availability record of over 99 %. Stratasys is the world’s leading 3D printing company that uses industrial-grade materials that can operate in extreme temperatures.

On the other side of the spectrum, in 2020, MakerOS, Inc.a web-based software platform for product development companies who, among others offer 3D printing service, has launched an automatic self-serve online program for additive manufacturing and product development companies to enable them to better quote and estimate the project costs. It’s called Public Autoquoter. The system can be integrated with any website builder.

The aforesaid two developments certainly aren’t the length and the breadth of the additive manufacturing market however it certainly sheds light on the growing importance of the segment and the resultant initiatives taken place in two different sectors of the entire additive manufacturing spectrum. Besides, there have been certain agreements on research and development, like the one in March 2020. A Cooperative Research and Development Agreement (CRADA) was agreed upon by  nTopology and Oak Ridge National Laboratory (ORNL) to advance the capabilities of additive manufacturing through integrated software toolkits and embed ORNL expertise into nTop software. Thisintegration is poised to lead to an improved design and modeling controls as well as the production of reusable, configurable templates for end-users of the Department of Energy’s Manufacturing Demonstration Facility at ORNL

The major players covered as part of the report are General Electric, DSM, EOS GmbH, Optomec, Inc., Renishaw Plc, Sciaky, Inc., Formlabs and Stratasys Ltd., among others.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/additive-manufacturing-market

In this report the Additive Manufacturing Market has been segmented based on the following:

  • By Material Type

o    Metals

o    Thermoplastics

o    Ceramics

o    Glass

  • By Industry Vertical

o    Aerospace and Defense

o    Healthcare

o    Automotive

o    Manufacturing

o    Others

  • By Geography

o    North America

  • USA
  • Canada
  • Mexico

o    South America

  • Brazil
  • Argentina
  • Others

o    Europe

  • UK
  • Germany
  • France
  • Others

o    Middle East and Africa

  • Saudi Arabia
  •  Israel
  • Others

o    Asia Pacific

  • Japan
  • China
  • India
  • South Korea
  • Others