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Metal 3D Printing Market Size Worth $15.28 Billion By 2028 | CAGR: 22.9%: Grand View Research, Inc.

SAN FRANCISCO, July 27, 2021 /PRNewswire/ -- The globalA metal 3D printing marketA is estimated to reach USD 15.28 billion by 2028, according to the new report by Grand View Research, Inc. The market is expected to register a CAGR of 22.9% from 2021 to 2028. Metal 3D printing is also referred to as Additive Manufacturing (AM) as it involves the successive addition of layers of materials in various 2D shapes using an additive process. These layered 2D shapes are built upon one another to form a three-dimensional object. The process is different from the subtractive method of production, which begins with a block of metal and the unnecessary metal is ground out to obtain the desired object.
Metal 3D Printing Market Size Worth $15.28 Billion By 2028 | CAGR: 22.9%: Grand View Research, Inc.
Key Insights & Findings:

North America accounted for the largest market share in 2019 owing to the early adoption of the technologies



The U.S. being the highest revenue generating country in 2019 in the North America regional market, the region is predicted to exhibit steady growth over the forecast period



Increasing adoption of metal 3D printers in the healthcare, automotive, and consumer electronics verticals is likely to drive the market growth significantly



The Asia Pacific regional market, which is emerging as a manufacturing hub for several industry verticals, is forecast to grow significantly in future as the continued urbanization triggers the need for infrastructure and prompts the automotive, consumer electronics, aerospace and defense, and healthcare verticals to adopt metal 3D printing, particularly in countries, including China, Japan, and South Korea.

Read 250 page market research report, "Metal 3D Printing Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Technology, By Software, By Application, By Vertical, By Region, And Segment Forecasts, 2021 - 2028", by Grand View ResearchThe metal 3D printing industry is estimated to exhibit significant growth throughout the forecast period owing to a combination of numerous factors such as growing demand for rapid prototyping, which allows the manufacturers to design and develop better products and systems. Additionally, the ease of manufacturing and added benefits offered by the 3D printing technology are the major factors behind the greater adoption of the technology across various industry verticals.Metal 3D printing is widely adopted in the industrial sector owing to the growing need for enhanced product manufacturing and a shorter time to market. The automotive vertical happens to be the most significant adopter of the metal 3D printing technology and eventually leading to the largest market share of metal 3D printers for industrial applications over the forecast period. Additive manufacturing is anticipated to evolve over the forecast period.
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