Hybrid Additive Manufacturing Market Growth & Trends | 2023-2028

Market Insights

The hybrid additive manufacturing market is estimated to grow from USD 223.53 million in 2023 and is likely to grow at a CAGR of 22.40% during 2023-2028 to reach USD 614.11 million by 2028.

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What is hybrid additive manufacturing?

Hybrid additive manufacturing is a technology that combines the advantages of additive and subtractive processes on a single machine. This technology helps to resolve several issues associated with traditional manufacturing methods, such as low production rates, inaccurate dimensions, and a limited maximum build size of components.

Market Dynamics

The hybrid additive manufacturing market is driven by a host of factors, some of which are noted below:

Increasing penetration of additive manufacturing in aerospace applications is expected to fuel the market. Short-run manufacturing is generally used to produce aircraft components, and additive manufacturing improves the production rate in such cases. It also aids in the production of complex parts that are lighter in weight and more resilient than products made using traditional techniques.

Furthermore, as hybrid additive manufacturing technology combines the benefits of both additive and subtractive processes on a single machine, it helps to resolve several issues associated with traditional manufacturing methods, such as low production rates, inaccurate dimensions, and a limited maximum build size of components. All of these factors are expected to drive the growth of the market over the forecast period.

Segmentation

This report studies the hybrid additive manufacturing market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market

The market is segmented into the following categories.

By Material Type:

• Titanium
• Aluminum
• Steel
• Nickel
• Others

By End-Use Industry Type:

• Aerospace
• Tooling and Mold
• Medical
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Segment Analysis

Material Trends

The market is segmented into titanium, aluminum, steel, nickel, and others. Among these material types, titanium accounted for the largest share of the market in 2022 and is expected to grow at the fastest CAGR during the forecast period. The growth of the segment can be attributed to the penetration of medical implants, which is likely to increase, opening up new sales channels for the titanium market vendors. In addition, the use of titanium in hybrid manufacturing can aid to reduce the long-term complications caused by implants in patients.

End-Use Industry Trends

The market is segmented as aerospace, tooling and mold, medical, and others. The aerospace segment accounted for the highest share in the market of more than 40% in 2022 and it is likely to maintain its mighty dominance throughout the forecast period. The growth of the segment is owing to the adoption of 3D printing technology for the production of complex parts, components, and prototypes.

Regional Insight

North America occupied a share of more than 35% in 2022 leading the market and is expected to maintain its command throughout the forecast period. The presence of various aerospace original equipment manufacturers in the region is expected to generate significant demand for additive manufactured parts in the coming years. Asia-Pacific, on the other hand, is estimated to be the fastest-growing market, due to the increasing penetration of 3D printing technology in countries such as China and Japan.

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Key Players

Some of the major key players operating in the hybrid additive manufacturing market are-

• 3D Systems Corporation
• DGM MORI
• Arcam AB
• GKN PLC
• Hoganas AB
• Materialise NV
• Matsuura Machinery Ltd.
• Mazak Corp.
• Renishaw PLC
• Sandvik AB.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation by any one of the material types by end-use industry type. 

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.