Additive Manufacturing Research (AM Research) has released its Q3 2024 market data and insights, revealing significant growth in the 3D printing and additive manufacturing (AM) sector.
The total market for 3D printing in Q3 2024 reached $3.47 billion, marking a 9 per cent year-over-year increase and a slight sequential rise from $3.45 billion in Q2 2024.
While hardware sales experienced a slowdown, robust growth in AM services offset the decline, ensuring continued market expansion, AM Research said in a news release.
The metal AM market, comprising 3D printers, materials, and services, totalled $1.4 billion for the quarter, reflecting a 9.5 per cent year-over-year growth.
However, the sector saw an 8 per cent decline in printer sales, signalling challenges in hardware investments amidst broader economic pressures.
The polymer AM segment reported a market total of $2.0 billion, also achieving 9.5 per cent year-over-year growth.
Printer sales in this category remained flat, but material and service demands fueled overall market performance.
The AM services market emerged as the most dynamic segment, totalling $1.9 billion in Q3 2024—a 14 per cent year-over-year increase.
This growth highlights the rising demand for outsourced expertise in design, validation, and qualification, as companies leverage third-party providers to overcome the complexities of AM adoption.
Scott Dunham, Executive Vice President at AM Research, provided critical analysis in the firm’s “3DP/AM Market Insights: Q3 2024” report.
Dunham emphasised the financial and technical challenges impacting hardware adoption:
“The financial backdrop has hurt hardware investment, but adoption also continues to be impacted by the complexity of AM design, validation, and qualifications. Certain service providers should stand to benefit in the short to medium term. What hardware sales growth the market may achieve in the next two years, may therefore shift more to service providers.”
AM Research’s data covers key companies driving the industry, including major players in both metal and polymer segments.
Notable names tracked 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.
For more detailed insights, the full “3DP/AM Market Insights: Q3 2024” report is available through AM Research.
