Metal 3D Printing Market Size, Share, Growth Analysis, By Component(Hardware, Software, and Services), By Technology(Selective Laser Sintering, Direct Metal Laser Sintering, Inkjet printing, Electron Beam Melting), By Software(Design Software, Inspection Software, Printer Software, and Scanning Software), By Application(Prototyping, Tooling, and Functional Parts), By Printer Type(Desktop Metal 3D Printer, and Industrial Metal 3D Printer), By Vertical(Desktop Vertical, and Industrial Vertical), By Region - Industry Forecast 2024-2031

Metal 3D Printing Market size was valued at USD 5.12 Billion in 2021 and is poised to grow from 6.36 billion in 2022 to 35.33 billion by 2030, growing at a CAGR of 24.2% during the forecast period (2023-2030).

The players in the market are constantly improving the technology in response to the increasing demand for metal 3D printing uses from the manufacturing sectors of aerospace & defense, healthcare, and automotive. One of the prominent participants in the market are Materialize NV, along with 3D Systems, Inc., GE Additive, Autodesk Inc., and Optomec, Inc. 'EOS GmbH', 'GE Additive', 'SLM Solutions Group AG', 'Concept Laser GmbH', 'Renishaw plc', 'Stratasys Ltd.', '3D Systems Corporation', 'HP Inc.', 'Materialize NV', 'Trumpf GmbH + Co. KG', 'DMG Mori Aktiengesellschaft', 'Velo3D', 'Desktop Metal Inc.', 'Markforged Inc.', 'Additive Industries', 'Xact Metal', 'ExOne Company', 'Nano Dimension Ltd.', 'Optomec Inc.', 'Prodways Group'

Metal 3D printing enables the production of complex geometries and intricate designs that are difficult or impossible to achieve through traditional manufacturing methods. This design freedom attracts industries such as aerospace, automotive, and healthcare, driving the market's growth.

Increased Adoption in Aerospace and Defense: The aerospace and defense sectors have been early adopters of metal 3D printing due to its ability to produce lightweight, complex, and customized components. The trend of using metal 3D printing for aerospace applications is expected to continue to grow.

North America held the most revenue share, 34.33% in 2022 due to the region's substantial use of additive manufacturing. In a number of manufacturing processes, the U.S. & Canada have been among the most famous and pioneering users of this technology. The local market offers lucrative opportunities for metal 3D printing for a range of applications.