Metal Additive Manufacturing market 2024

Metal Additive Manufacturing market

Growth in metal Additive Manufacturing well in the double digit range

In 2023, the global metal Additive Manufacturing market is estimated at EUR xx billion including equipment, material and part manufacturing supplier sales. After years of growth beyond xx %, the market increased only by xx % in 2023. Major driver of the growth in 2023 was the metal feedstock consumption that grew by xx % in revenue, while metal equipment market faced a challenging year.
Despite reaching record highs in revenues of EUR xx billion, the metal equipment market growth cooled down to xx % from xx % in the previous period. The sales from part manufacturing services increased resulted in revenues of EUR xx billion, a xx % increase.

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Metal market by region

Growth accross the world

In 2023, metal AM sales were highest in XXX region grossing total of EUR xxx billion. Surprisingly, the growth in XXX slowed down significantly from xxx % in 2022 to xxx % in 2023. One factor is that part manufacturing suppliers reported an average increase in revenue of only xxx % from customers, well below previous growth years with annual growth of xxx % or more.

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Market by technology

Crossing the threshold of xx units per year

Despite the strong focus on Powder Bed Fusion technology, DED technologies are considered by more and more players as they delve into the technology to understand the pros and cons.

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Additive Manufacturing market by industry

Strong growth in selected verticals

The total metal AM equipment sales revenue was at EUR xxx billion in 2023. Space generated more than xx % with EUR xx million in revenue, Aviation and the Defense sector at EUR xx and xx million respectively.


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Metal market by materials

Metal Additive Manufacturing material consumption grows with increasing degree of industrialization

The metal feedstock consumption grew by xx % from xx tons to xx tons during last year. The suppliers and users expect that the growth will significantly increase in the coming years to about xx %. In five years, the users are expected to use xx tons of material.
High throughput systems such as Binder Jetting and DED technologies but also new generation of multi-laser L-PBF machines will push the use of material.

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Industrialization

Medical industry with machine utilization above xx %

The utilization is calculated from the actual runtime of the machine and the total available hours, i.e. 8,760 hours per year. Typical reasons for unproductive downtime of a machine can be preventive maintenance and planned services, machine defects, unavailability of personnel to setup a machine or simply lack of production orders.

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