Significant increase in new aircraft deliveries, followed by mounting production of automotive and industrial equipment, will continue to drive the demand for additive manufacturing during forecast period (2019 – 2029). A new Persistence Market Research study suggests that global demand for additive manufacturing would account for stupendous revenue growth at nearly 21% CAGR over the projection period.
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Prominently driven by increasing demand for additive manufacturing products in medical, automotive, and consumer electronics industries, the global additive manufacturing market will also gain a prominent boost from the aerospace & defence industry.
Key Takeaways – Additive Manufacturing Market
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The bandwidth of additive manufacturing will increase with respect to scale and accuracy of finished product. Moreover, it is expected to be fast growing and a cost-efficient solution for next-generation production process. Furthermore, there has been remarkably growing inclination of industries towards additive manufacturing technology, as it tends to reduce the back log orders.
Competition Structure Will Remain Fragmented
The global additive manufacturing market is fragmented owing to the presence of a large number of international and domestic manufacturers. Moreover, numerous manufacturers are offering identical products. Providing product developments and aftersales services will be the key winning imperatives of market participants. Prominent market players based in emerging markets are projected to expand their business operations and increase value addition in their product offerings through rationalization of their existing portfolios. Some of the key participants that have been covered in PMR’s additive manufacturing market report include Materialise NV, Evonik Industries AG, and General Electric.
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