GAITHERSBURG, Md., July 25, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Hybrid Additive Manufacturing Market is accounted for $80.50 million in 2019 and is expected to reach $278.83 million by 2027 growing at a CAGR of 16.8% during the forecast period.
Some of the key players profiled in the Hybrid Additive Manufacturing Market include 3D Systems Corporation, Arcam AB, GKN PLC, Hoganas AB, Materialise NV, Renishaw PLC and Sandvik AB.
Expansion of healthcare facilities and rising penetration in aerospace applications are the major factors driving the market growth. However, high cost of the manufacturing machines is restraining the market growth.
Hybrid additive manufacturing technology offers advantages of both additive and subtractive processes on a single machine. This technology helps to overcome different issues in traditional manufacturing methods, such as low production rate, inaccurate dimensions, and limited maximum build size of components.
Based on end user, the aerospace segment is likely to have a huge demand due to the early adoption of 3D printing by the aerospace sector and low volume manufacturing and prototyping of complex parts. These components are manufactured professionally by including hybrid printing technologies over the conventional procedures.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to growing penetration of 3D printing in China and Japan, expansion of the aerospace sector and increasing investments.
We offer a wide spectrum of research and consulting services with in-depth knowledge of different industries. We are known for customized research services, consulting services, and Full-Time Equivalent (FTE) services in the research world. We explore market trends and draw our insights with valid assessments and analytical views. We use advanced techniques and tools among the quantitative and qualitative methodologies to identify the market trends.
Our research reports and publications are routed to help our clients to design their business models and enhance their business growth in the competitive market scenario. We have a strong team with hand-picked consultants including project managers, implementers, industry experts, researchers, research evaluators and analysts with years of experience in delivering the complex projects.