The Growing Demand From The Aerospace Industry And The Growth Of The Healthcare Industry Are Driving Market Growth.
The Global Hybrid Additive Manufacturing Market Is Forecasted To Reach USD 243.2 Million By 2027, According To A New Report By Reports And Data. The Market Is Witnessing A High Growth Rate Due To The Increasing Demand For Complex Design And Low Volume Automotive Parts. The Automotive Industry Has Played A Major Part In Increasing The Adoption Of Additive Manufacturing Techniques. Many Companies Have Replaced The Traditional Manufacturing Processes With Additive Manufacturing As It Is Faster And A Cost-Effective Process.
Hybrid Additive Manufacturing Or Hybrid 3D Provides A Key Benefit Of Reducing Wastage, Due To Which Many Players Are Continuously Adopting It. This Process Enables Manufacturers To Use Only The Necessary Material For Production. The Development Of 3D Printing Technology And New Products In The Market Is A Key Factor For The Growth Of The Market.
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Key Companies In The Market Include: Equispheres, Carpenter Technology Corporation, Voxeljet AG, Hoganas AB, Renishaw PLC, Materialise NV, 3D Systems Corporation, GKN PLC, Exone Gmbh, And Arcam AB, Among Others.
In Terms Of Material, Nickel Is Forecasted To Grow At A CAGR Of 14.9% In The Forecast Period. It Exhibits Properties, Such As Minimizing Corrosion, Which Allows It To Be Used For A Long Time Without Replacement. The Product Finds Extensive Applications In The Aerospace Industry.
The Tooling And Mold Segment Is Forecasted To Grow At A CAGR Of 14.4% In The Forecast Period. Hybrid Additive Manufacturing Is Used In Making Molds As It Speeds Up The Process Of Production, Along With Leading To The Production Of Better-Quality Parts.
In Terms Of Application, Prototype Is Forecasted To Grow At A CAGR Of 14.7% In The Forecast Period. This Is Because Newer Products Are Being Tried And Tested To Be Produced Through Hybrid Additive Manufacturing.
The Middle East And African Region Are Forecasted To Grow At A CAGR Of 14.6% In The Forecast Period. This Is Due To The Presence Of Countries, Such As The UAE And Saudi Arabia In The Region, Which Are Witnessing High Growth Rates In The Aerospace And Automotive Industries.
China Is One Of The Fastest-Growing Countries In Terms Of The Adoption Of Hybrid Additive Manufacturing. The High Growth Comes From The Increased Number Of Manufacturing Industries In The Region, Along With The Growth Of The Automotive Industry.
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Market Segmentation:
Material Outlook (Revenue, USD Million; 2017-2027)
- Titanium
- Aluminum
- Steel
- Nickel
- Others
End-Use Outlook (Revenue, USD Million; 2017-2027)
- Aerospace
- Tooling And Mold
- Medical
- Others
Application Outlook (Revenue, USD Million; 2017-2027)
- Repair
- Production
- Prototype
Regional Outlook:
Key Regional Markets Covered In The Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest Of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest Of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest Of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest Of Middle East Africa)
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Key Questions Covered In The Global Hybrid Additive Manufacturing Market Report:
- What Is The Expected Market Size Of The Global Hybrid Additive Manufacturing Market During The Forecast Period?
- What Factors Are Expected To Hamper Global Hybrid Additive Manufacturing Market Growth Over The Forecast Period?
- What Key Factors Are Expected To Drive Global Revenue Growth Between 2021 And 2028?
- Which Application Segment Is Expected To Dominate Other Application Segments Over The Forecast Period?
- Which Region Is Expected To Dominate In Terms Of Revenue During The Forecast Period?
- What Are The Key Outcomes Of Porter’s Five Forces Analysis And SWOT Analysis?
- Which Leading Players Are Operating In The Global Hybrid Additive Manufacturing Market?
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