The latest study collated and published by Nova one advisor analyzes the historical and present-day scenario of the global Additive Manufacturing industry to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, future scopes, cost analysis and key trends during the forecast timeframe 2022 to 2030.

According to Nova one advisor, the global Additive Manufacturing industry was valued at USD 13.89 billion in 2021 and it is expected to hit around USD 76.20 billion by 2030 with a CAGR of 20.9% during the forecast period 2022 to 2030.

Key Takeaways:

• By Technology, the North America Additive Manufacturing market was valued at USD 3.7 Billion in 2021 and expected to witness growth at a CAGR of 19.8% from 2022 to 2030.


• AM is gaining traction owing to the ability of the technology to offer accurate and rapid prototyping and optimize time to market


• Increasing adoption of 3D printers in the healthcare, automotive, and consumer electronics industry verticals is expected to drive the growth of the market


• Demand for desktop 3D printers is expected to increase over the forecast period as AM continues to gain popularity among hobbyists for domestic, household, and personal purposes and in the education industry for training purposes


• The prototyping segment dominated the market in 2021 and is expected to expand its revenue share to over 56% by 2030


• Although the polymer segment accounted for a revenue share of over 50.10% in 2021, the metal segment is expected to increase its revenue share and emerge as the dominant segment over the forecast period


• The growth of Asia Pacific is attributed to continued urbanization, which is prompting incumbents of industries such as automotive, consumer electronics, and healthcare, particularly in countries such as China, Japan, and South Korea, to opt for AM

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The growth of the market can be attributed to the growing adoption of Additive Manufacturing (AM) in industrial applications for enhancing production and shortening the time to market. The growing adoption of three-dimensional printers by the incumbents of automotive, healthcare, and aerospace & defense, among other industries and industry verticals, is also expected to drive the growth of the market over the forecast period.

AM, also referred to as 3D printing, envisages adding successive layers of materials in various 2D shapes and layering these 2D shapes upon one another to form a three-dimensional object. The process is totally different from the subtractive method of production, which envisages grinding out the unnecessary material from a block of material to obtain the desired object. As AM continues to evolve, incumbents of several industries and industry verticals are opting for the process to enhance product design, ensure accuracy and reliability, and shorten the time to market.

Addictive manufacturing is increasingly gaining popularity among hobbyists and innovators. Individuals are using AM for domestic and personal purposes. On the other hand, universities and educational institutes are using AM for conducting technical training. Particularly in developing economies, such as Brazil, South Africa, and India, among others, machining shops are aggressively installing 3D printers, using additive manufacturing materials and filaments, utilizing 3D printer software, and offering related services, such as 3D modeling, as part of their efforts to adopt alternative business models.

North America accounted for the largest revenue share of around 35% in 2021 as a result of the extensive adoption of 3D printers for 3D designing, 3D modeling, and 3D manufacturing across several industries and industry verticals across North America. On the other hand, Asia Pacific is expected to witness remarkable growth over the forecast period. Asia Pacific has been gradually emerging as a manufacturing hub owing to the easy availability of all the necessary resources. Apart from an expanding consumer base, the region has also been receiving foreign investments continuously.

However, AM happens to be a capital-intensive technology. At the same time, manufacturers are holding to their misconception about prototyping rather than realizing the advantages associated with AM. The market also lacks the standard process controls and is facing a shortage of skilled workers required for AM. Nevertheless, the initiatives being pursued by various governments to increase awareness and promote the benefits of adopting 3D printers are expected to play a vital role in countering these restraints and driving the growth of the market over the forecast period.

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Printer Type Insights

The industrial 3D printer segment dominated the market in 2021 and accounted for a revenue share of more than 64%. Industrial 3D printers are being adopted extensively across various industries and industry verticals, including automotive, electronics, aerospace & defense, and healthcare, among others, for some of the common applications, such as prototyping, designing, and tooling. Given the extensive adoption of additive manufacturing for prototyping, designing, and tooling, the industrial 3D printer segment is expected to continue dominating the market over the forecast period.

Desktop 3D printers were initially limited to hobbyists and small enterprises. However, desktop 3D printers are increasingly being used for household and domestic purposes. Schools, educational institutes, and universities are also adopting desktop 3D printers for technical training and research purposes. Smaller businesses are typically adopting desktop 3D printers and diversifying their business operations to offer additive manufacturing and other related services. Hence, the demand for desktop printers is expected to rise significantly over the forecast period.

Technology Insights

The stereolithography segment dominated the market in 2021 and accounted for a revenue share of more than 9%. Stereolithography happens to be one of the oldest and most conventional printing technologies. Apart from ease of operations, there are several other advantages associated with stereolithography, which are encouraging the adoption of the technology. However, advances in technology and aggressive research & development activities being pursued by industry experts and researchers are opening opportunities for several other efficient and reliable technologies.

Apart from stereolithography, there are several other additive manufacturing technologies used in the market. They include fuse deposition modeling (FDM), direct metal laser sintering (DMLS), selective laser sintering (SLS), inkjet printing, polyjet printing, laser metal deposition, and electron beam melting (EBM), digital light processing (DLP), laminated object manufacturing, and others. While FDM is also adopted significantly; DLP, EBM, inkjet printing, and DMLS are also gaining significant traction as these technologies are applicable in specialized additive manufacturing processes.

Software Insights

The design software segment dominated the market in 2021 and accounted for a revenue share of more than 31%. The segment is also expected to continue dominating the market over the forecast period. Design software is used for constructing the designs of the object to be printed, particularly in the automotive, aerospace & defense, and construction & engineering industries. There are several advantages associated with design software. One of the advantages is the capability of design software to serve as a bridge between the object to be printed and the printer's hardware.

Apart from design software, there are other different types of software used in the market. They include scanning software, printer software, and inspection software. The demand for scanning software is poised for significant growth over the forecast period in line with the growing trend of scanning objects and storing scanned documents. The ability to store the scanned images of the objects irrespective of their sizes and dimensions for 3-dimensional printing is expected to drive the demand for scanning software. The scanning software segment is expected to grow at the highest CAGR of 21.7% from 2022 to 2030.

Application Insights

The prototyping segment dominated the market in 2021 and accounted for a revenue share of more than 56%. The prototyping process is used extensively across several industries and industry verticals. Incumbents of the automotive and aerospace & defense industries particularly use prototyping to precisely design and develop parts, components, and complex systems. Prototyping allows manufacturers to achieve higher accuracy and develop reliable end products. Hence, the prototyping segment is expected to continue dominating the market over the forecast period.

Other applications considered as part of the study include tooling and functional parts. Functional parts include smaller joints and other metallic hardware required for connecting components. The accuracy and precise sizing of these functional parts are of paramount importance while developing machinery and systems. As a result, incumbents of several industries and industry verticals are putting a strong emphasis on designing and building functional parts with utmost precision. Hence, the functional parts segment is expected to grow at a significant CAGR of 21.9% from 2022 to 2030.

Vertical Insights

The automotive segment dominated the market in 2021 and accounted for a revenue share of more than 19.8%. Based on vertical, the market has been further segmented into industrial additive manufacturing and desktop additive manufacturing. The automotive segment falls under industrial additive manufacturing along with aerospace & defense and healthcare, among others. The healthcare segment is poised for significant growth in line with the growing adoption of additive manufacturing to develop artificial tissues and muscles replicating natural tissues for use in replacement surgeries.

The desktop additive manufacturing segment has been further segmented into educational purposes, fashion & jewelry, objects, dental, food, and others. The dental, fashion & jewelry, and food segments are anticipated to contribute significantly to the growth of the desktop additive manufacturing segment over the forecast period. The dental segment accounted for the largest revenue share in 2021 and is expected to continue dominating the segment over the forecast period. Additive manufacturing is also gaining traction in imitation jewelry, miniatures, art & craft, and clothing & apparel.

Component Insights

The hardware segment dominated the market in 2021 and accounted for a revenue share of more than 60.10%. The strong emphasis manufacturing entities continued to put on pursuing advanced manufacturing practices and rapid prototyping allowed the hardware segment to dominate the market. The hardware segment is poised for significant growth over the forecast period owing to various factors, such as rapid industrialization, the growing demand for consumer electronics products, the continued development of civil infrastructure, rapid urbanization, and optimized labor costs.

Based on component, the market has been further segmented into hardware, software, and services. Technology proliferation, the growing adoption of rapid manufacturing processes, such as rapid prototyping, and the widening application portfolio of additive manufacturing across various industries and industry verticals are expected to propel the demand for all the components associated with additive manufacturing. The technology allows layer-by-layer procedural manufacturing of three-dimensional objects that are connected through a system comprising applicable digital files.

Material Insights

The metal segment dominated the market in 2021 and accounted for a revenue share of more than 50.10%. Looking forward, the metal segment is anticipated to continue dominating the market and expand at the highest CAGR of more than 21% over the forecast period. Based on material, the market has been further segmented into polymer, metal, and ceramic. The polymer segment accounted for the second-largest revenue share in 2021. On the other hand, the ceramic segment is poised for significant growth over the forecast period.

Although additive manufacturing using ceramic is a relatively newer technique, the R&D initiatives market players are pursuing for AM technologies, such as FDM and inkjet printing, are driving the demand for ceramic AM. Opting for the AM methodology can allow manufacturers to produce complicated, delicate parts at greater ease and with high precision and accuracy. Moreover, enhanced material usage is also allowing manufacturers to reduce their production expenditures significantly. All these benefits and advantages associated with the technology are driving the adoption of AM.

Regional Insights

North America dominated the additive manufacturing market in 2021 and accounted for a revenue share of more than 34.10%. North America is home to developed economies, such as the U.S. and Canada. These economies are considered among the prominent and early adopters of the latest technologies. On the other hand, Europe emerged as the second-largest regional market. Europe happens to be the largest region in terms of geographical footprint. Europe is also home to several companies holding strong technological expertise in additive manufacturing.

Asia Pacific is poised for remarkable growth. The regional market is expected to grow at the highest CAGR over the forecast period. The growth of the regional market can be attributed particularly to the continued developments and upgrades being pursued by the incumbents of the manufacturing industry across the region. Asia Pacific is emerging as a manufacturing hub for the automotive, healthcare, and consumer electronics industries. Rapid urbanization is also expected to play a vital role in driving the adoption of three-dimensional printing across the region over the forecast period.

Some of the prominent players in the Additive Manufacturing market include: Stratasys, Ltd.; Materialise NV; EnvisionTec, Inc.; 3D Systems, Inc.; GE Additive; Autodesk Inc.; Made In Space; Canon Inc.; Voxeljet AG

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