Hybrid Additive Manufacturing Machines Market Outlook - 2027
Hybrid manufacturing is a process in which both additive and subtractive manufacturing processes takes place. Hybrid additive manufacturing machines are used in the process of building up a structure, part, or component with another component. These machines have the capability to repair disfigured components with the aid of their advanced features. Also, these machines can significantly reduce the repair and maintenance costs. They can be classified into three types that are metal forming machines, biomaterial forming machines, and non-material forming machines. These are majorly used for the applications like repair, prototype, production, and more in various industries like aerospace, automotive, medical, energy, electronics, and others.
COVID-19 Scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the hybrid additive manufacturing machines industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of hybrid additive manufacturing machines market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Drivers, restraints, and opportunities
The rising demand for hybrid additive manufacturing systems due to their lightweight and robust nature in end-use industries like medical, aerospace, automotive, and others is one of the major factors driving the growth of the hybrid additive manufacturing machines market. Besides, manufacturing of dental fixtures, orthopedic implants, and prosthetic limbs for amputees essentially require hybrid additive manufacturing machines which can steer the demand for these machines in the market. Moreover, investments for effective productivity and improved performance of intelligent product solutions is expected to propel the growth of the hybrid additive manufacturing machines market. However, high installation costs associated with these machines is a restraining factor for the market growth. Conversely, notable growth in the end-use industries like automotive, aerospace, and others in countries such as China, Japan, U.S.A and others is anticipated to create lucrative growth opportunities for the hybrid additive manufacturing machines market during the forecast period.
Trends in hybrid additive manufacturing machines market
New technologies to flourish the market
Technological advancements and growth in automation are significantly affecting the industrial development in the form of automated robots. The adoption of production software enhances the overall production process and effectiveness of the machines that can result in increasing product demand. The hybrid 3D printing technology is trending lately in the hybrid additive manufacturing machines market. This technology offers less manual intervention, time-saving options, and low-cost solutions for manufacturing of products. Besides, the adoption of this technology in various equipment in different industries can minimize the adverse environmental impacts. Such emerging advanced technologies can positively impact the growth of the hybrid additive manufacturing machines market in the upcoming years.
New advanced featured products offered by market leaders
The key market players in the hybrid additive manufacturing machines market are adopting various growth strategies, like mergers, acquisitions, new product offerings, innovations, collaborations, and partnerships to prevail in the highly competitive market. To cite an instance, in 2019, DMG MORI, a Japanese manufacturing company launched its new hybrid additive manufacturing system, named LASERTEC 125 3D hybrid. This product offers an inbuilt 5-axis laser deposition welding system that is specially designed for repair, production, and maintenance of larger parts with dimensions up to 1250mm x 745mm and weight of the work pieces up to 2000kg. Such new product developments by key players can significantly boost the growth of the hybrid additive manufacturing machines market during the forecast period.
Key benefits of the report:
- This study represents the analytical representation of the global hybrid additive manufacturing machines market combined with the ongoing trends and future predictions to determine investment opportunities.
- The present market is thoroughly analyzed to enlighten the hybrid additive manufacturing machines market growth.
- The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global hybrid additive manufacturing machines market.
- Segmentation details of the global hybrid additive manufacturing machines market.
- The report gives a comprehensive global hybrid additive manufacturing machines market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years.
Hybrid Additive Manufacturing Machines Market Report Highlights
By End-use industry
Key Market Players
SLM SOLUTIONS GROUP AG, 3D Systems, Inc., DMG MORI, Siemens Industry Software Inc., Matsuura Machinery Corporation, Stratasys Ltd., Renishaw plc, GENERAL ELECTRIC, Optomec, Inc., Mazak Corporation