NEW YORK, Dec. 28, 2022 /PRNewswire/ — Q3 2022 saw continuing year over year growth for the additive manufacturing market, coming in 20% higher compared to the same period in 2021 despite a rising number of entities reporting a challenging macroeconomic environment and changing customer behavior. The third quarter of 2022 was the fourth consecutive quarter that the total AM industry saw revenue exceeding $3B. SmarTech’s market totals include hardware, materials, software, and services.
Scott Dunham, SmarTech Analysis EVP Research, commented, “With the reported conditions in the market, the sequential growth in additive once again declined slightly on a quarter over quarter basis, but still Q3 2022 saw the largest industry activity level for a third quarter in history. We are being cautious about our outlook for AM going forward, but we are still seeing plenty of demand out there for additive technologies. It varies company to company and market to market, but on the whole SmarTech is still optimistic about the AM industry’s potential heading into 2023.”
SmarTech’s “Core Metals” and “Core Polymers” market data products include historical quarterly data and provide 10-year forward forecasts. Quarterly reports on the metal and polymer AM markets are available as a one-time or subscription purchase via SmarTech’s website and are customizable as needed. For more information on stand alone reports or ongoing subscription services for the additive market, go to: http://www.smartechanalysis.com/data-services
- Other than the COVID-related dip during 2020, the 3DP/AM market continues to grow steadily, having topped a $3B quarterly base in Q4 2021. In times of global market uncertainty, additive manufacturing represents a rather insulated pocket in terms of market activity.
- Supply chain disruptions have continued to impact revenue performance across industries and markets, in turn creating demand for additive manufacturing. Partially to this end, Services represents the largest portion of the whole 3DP/AM market. Materials and Hardware are similar in size at the moment, and Software is the smallest, but fastest growing segment.
- Companies covered in this report include but are not limited to: 3D Systems, HP, EOS, Farsoon, Prodways, Velo3D, SLM Solutions, Optomec, Trumpf, Markforged, Desktop Metal, GE Additive and ExOne.
Since 2013, SmarTech Analysis has tracked market data and published market reports on the 3D printing/additive manufacturing sector and is considered the leading industry analyst firm providing coverage of this sector. SmarTech analysis and data drives strategy development in the additive industry, and has been adopted and presented by many of the industry’s largest firms. SmarTech is a division of 3DR Holdings.
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SOURCE SmarTech Analysis