The “Chart of the Week” from Additive Manufacturing Research (AMR) is a weekly segment that offers readers a dive into the additive manufacturing (AM) landscape, showcasing pivotal statistics and trends derived from AMR’s exhaustive research. The latest chart demonstrates AMR’s flexibility in describing the sector, as the market research firm has adjusted its overall estimates after taking into account the actual financial numbers reported by firms in 2023.
AMR’s current Q3’23 forecast illustrates a refined outlook on the market growth. The recalibrated forecast, while more conservative, remains a strong indicator of healthy market progression, with a promising revenue expectation of $15.03 billion in 2023. This adjustment in AMR’s projections is not merely a reflection of the market’s current state but also a strategic response to the complex interplay of technological and economic factors that influence the sector. The narrowed forecast gap between 2021 and 2023 suggests a meticulous analysis of short-term market conditions, incorporating the impact of the macroeconomic environment.
What stands out in AMR’s updated forecast is the widened divergence from 2024 onwards, hinting at a confident outlook on the industry’s long-term prospects. There is no doubt that adoption of the technology is only going to increase going forward. The question is just how much. Given that the U.S. Department of Defense is galvanizing a nationwide use of advanced manufacturing as a part of supply chain resilience initiatives, the rest of the world will necessarily follow suit.
Due to the recent economic recession, AMR adjusted its overall projections. The previous year’s forecast by AMR had painted an even more bullish future, with an anticipated market size of $52.11 billion by 2030. Now, the market research firm has modified this figure to $47.18 billion by 2030.