U.S. Additive Manufacturing (AM) Market is expected to reach USD 22.26 billion by 2030
The presence of automotive manufacturing companies in US, along with pharmaceutical companies are driving up demand for the additive manufacturing (AM) market during the forecast period.
U.S. Additive Manufacturing (AM) Market is valued at USD 5.64 billion in 2022 and is expected to reach USD 22.26 billion by 2030, with a CAGR of 18.7% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
Prominent automotive manufacturing companies such as Tesla, Volkswagen, and General Motors have played a pivotal role in the expansion of the additive manufacturing market in the United States. These companies actively utilize 3D printing or additive manufacturing technologies to showcase groundbreaking vehicle designs and concepts. Prototyping holds paramount importance in the car production process, and the adoption of 3D printing enables swift prototyping during the pre-manufacturing stage. Additive manufacturing effectively facilitates the validation and testing of complex, large-scale components, establishing itself as the preferred method for prototype validation.
The presence of a large number of pharmaceutical companies that allows them to produce new surgical cutting and drill guides, prosthetics, and patient-specific copies of bones, organs, and blood arteries via 3D printing propels the growth of the additive manufacturing market. For instance, in November 2021, in Singapore, the National University Hospital (NUH) announced collaboration with Johnson & Johnson (J&J) in hospital to launch a 3D Printing Point of Care lab for improving patient care capability and enhancing personalized healthcare. The Singapore Economic Development Board (EDB) supported this initiative to accelerate healthcare innovation in Singapore.
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 U.S. additive manufacturing market include 3D Systems, Formlabs, Stratasys, Defiant3D, Desktop Metal, Ultimaker, Carbon, EOS, Nanoscribe, and Markforged.
Key Insights from the U.S. Additive manufacturing Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the U.S. 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 U.S. additive manufacturing market is provided in the report along with their competitive analysis.