India Additive Manufacturing (AM) Market is expected to reach USD 1.79 billion by 2030
Diverse materials and robust service ecosystem fuelling additive manufacturing growth in India is driving up demand for the Additive Manufacturing (AM) market during the forecast period.
India Additive Manufacturing (AM) Market is valued at USD 0.25 billion in 2022 and is expected to reach USD 1.79 billion by 2030, with a CAGR of 28.1% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The availability of a diverse variety of materials appropriate for additive manufacturing has fueled market expansion in India. Manufacturers now have access to a wider range of polymers, metals, ceramics, and composites, which broadens the uses and possibilities of 3D printing. Furthermore, the existence of 3D printing service providers and production bureaus provides enterprises with easy access to additive manufacturing capabilities. As a result, the market is expected to increase significantly.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment is relatively high compared to traditional manufacturing methods. This cost factor may limit the accessibility and adoption of additive manufacturing, particularly for small and medium-sized businesses, which is expected to restrain the growth of the market.
On the other hand, continuous advancements in additive manufacturing technologies, including improved printer capabilities, enhanced materials, and more efficient post-processing techniques, have fueled the growth of the market. These advancements enable higher quality, faster production, and expanded application possibilities, attracting more industries to adopt additive manufacturing. Thus, it is expected to create ample opportunities for the market.
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According to the report, leading players in the India additive manufacturing market include 3D Systems, FormLabs, Stratasys, HP, Desktop Metal, Ultimaker, Carbon, EOS, ReaLizer, and Fabheads.
Key Insights from the India Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the India additive manufacturing market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the India additive manufacturing market is provided in the report along with their competitive analysis.