Norway Additive Manufacturing (AM) Market is expected to reach USD 422.56 million by 2030
The increasing R&D and innovation by key market players across industries in Norway are driving up demand for the additive manufacturing (AM) market during the forecast period.
Norway Additive Manufacturing (AM) Market is valued at USD 65.46 million in 2022 and is expected to reach USD 422.56 million by 2030, with a CAGR of 26.2% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
The increasing R&D and innovation strategies used by various leading market players in Norway are attributed to the rising demand for 3D printing in the future with the development of its use across industries such as aerospace and manufacturing, which pushes market growth further. For instance, in June 2021, a type of underwater 3D printing has been created by Kongsberg Ferrotech, which makes subsea robots for the oil and gas industry, to repair pipelines under the sea. The business collaborated with Equinor, SINTEF, and Gassco to create the procedure, which is known as ‘Subsea Additive Manufacturing for Lifetime Extension.
However, the cost of additive manufacturing technologies, including printers, materials, and post-processing equipment are 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 Norway additive manufacturing market include such as 3D-Components AS, AddUp Norway, Bjornstad Innovation, Norsk Titanium AS, SINTEF Manufacturing, Solidica, Sintef Digital, Zortrax, 3D Systems, Inc., and 3Dceram.
Key Insights from the Norway Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the Norway 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 Norway additive manufacturing market is provided in the report along with their competitive analysis.