AM Research notes year-over-year industry growth of 8.4% in second quarter data report
September 26, 2024
Market research and industry analysis provider Additive Manufacturing Research has published its Q2 2024 AM data and forecast, along with its Markets Insights report which analyses the reported data.
Year over year growth was noted at 8.4%, though a small decline ($3.47B in Q1 vs $3.45B in Q2) was seen in total market activity. A continuing slow-down in hardware sales was offset by growth in AM services, which, as a whole, totalled $1.87B in Q2 2024 (+12% year over year.)
The metal AM market (consisting of the actual machines, as well as materials and services) totalled $1.4B in Q2 2024. This represents 10.0% year over year growth despite a 2.2% decline in machine sales.
DED (Directed Energy Deposition) was the only metal Additive Manufacturing technology to see year-over-year growth in Q2 2024. This was attributed to traction from wire-based DED and increased application of powder DED for coating components such as brake rotors.
“Most publicly traded AM companies have struggled since early 2023, especially on the hardware side in a period amidst increased interest rates,” stated Scott Dunham, EVP, AM Research. “This has persisted for long enough now that it has started to impact the sale of AM materials, even while utilisation of installed AM equipment is higher than ever. There are still positive results and optimistic sentiments outside of the visible public markets from the likes of EOS, DMG Mori, Nikon SLM Solutions, and some Chinese providers such as Farsoon and BLT.”
For the total hardware segment, AM Research stated that achieving 30% market growth in 2025 in AM hardware is not unrealistic on the two-part basis of easy comps from depressed levels this year, and likely decreases in interest rates through 2025.
Companies included in AMR’s Core Metals and Core Polymers tracking data and 3DP/AM Market Insights report include: 3D Systems, Stratasys, Markforged, Desktop Metal, Velo3D, Nikon SLM Solutions, EOS, GE Additive, Trumpf, Farsoon, BLT, HBD, Eplus, Optomec, BeAM, HP, Formlabs, Prodways, DWS, and Carbon.
The full report is available for purchase here.
www.addivemanufacturingresearch.com
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