ALBANY, New York, April 05, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research entitled “Hybrid Additive-Manufacturing Machines Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026”, the global hybrid additive-manufacturing machines market was valued at US$ 1169.9 Mn in 2017 and is expected to reach US$ 6,757.1 Mn by the end of the forecast period, expanding at a CAGR of 21.69% from 2018 to 2026.
Increasing adoption of hybrid additive-manufacturing machines across a wide range of industry verticals such as heavy industry, automotive, aerospace, and medical
The hybrid additive-manufacturing machines (HAM) market is primarily driven by the increasing adoption of hybrid additive-manufacturing machines across a wide range of industry verticals such as heavy industry, automotive, aerospace, and medical. HAM machines utilize additive and subtractive manufacturing in tandem for the manufacturing of complex components that have complex geometries, which are difficult to manufacture by traditional manufacturing. Additionally, HAM machines combine the advantages of both laser cladding as well as CNC milling for the manufacturing of functional products. The manufacturing of components by HAM machines results into savings of the material being used for the manufacturing, reduced lead time, and reduced time to market for the product being manufactured.
Download PDF Brochure for Research Insights at https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=41759
Rising awareness among the OEMs of various industry verticals regarding the advantages associated with HAM machines is further driving the hybrid additive-manufacturing machines market. HAM machines can be utilized for manufacturing of various automotive components such as axles, engine pistons, shafts, and automotive body parts. The aerospace sector requires precision manufacturing of complex components that are light in weight and robust in nature. Various components can be manufactured for this sector with the help of HAM machines. The aerospace sector is regarded as a major adopter of additive manufacturing for manufacturing of its functional components. HAM machines can be used for the manufacturing of orthopedic implants, dental fixtures, and prosthetic limbs for the amputees, in the medical sector. Additionally, they can also be employed for manufacturing tools and industry components that are utilized by medical professionals. However, the high cost of HAM machines is expected to hamper the market. However, the production of components by means of HAM machines is likely to bring down the prices of HAM machines in the near future.
Get PDF Sample at https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=41759
Launching of new product models by key players operating in the hybrid additive-manufacturing machines market is a prevalent trend across the regions
The key trends prevalent in the hybrid additive-manufacturing machines market is the launching of new product models into the market in a bid to gain a competitive edge over competitors. For instance, in June 2016, Matsuura Machinery Corporation Ltd launched its HAM model LUMEX Avance-25. This new model is expected to take Matsuura’s hybrid 3D metal printing and milling technology into new markets. Moreover, major players in the additive manufacturing space are focusing on innovation and development of technologically advanced products and cost-effective products so that the machines are affordable to a majority of industries and not just large industries.
Production segment is expected to expand at a rapid pace during the forecast period
Based on the application, the global hybrid additive-manufacturing machines market has been segmented into repair, production, and prototype. In terms of revenue, the repair segment is expected to hold a major share of the market in 2018. Hybrid additive-manufacturing machines are increasingly being utilized for the production of fully functional parts that are complex in design and are difficult to manufacture by conventional manufacturing methods. However, production is yet to be the mainstream application, as HAM machines are expensive. The production segment is expected to expand at a significant CAGR of around 24% during the forecast period.
Get Complete Report TOC at https://www.transparencymarketresearch.com/report-toc/41759
Aerospace segment is expected to hold a major share of the market, in terms of revenue, by 2026
Based on the verticals, the market has been divided into heavy industry, automotive, aerospace, medical, electronics, energy, and others. The others segment includes consumer goods, education and research, food, architecture, and construction. In 2017, aerospace was the leading segment of the market, in terms of revenue. The aerospace sector involves the manufacturing of customized and components with complex geometries. The parts need to be robust in nature and light in weight. HAM machines can manufacture these parts economically with a high level of accuracy and in significantly less amount of time, as compared to the conventional manufacturing methods. Furthermore, the aerospace segment is expected to expand at a significant CAGR of 23.67% from 2018 to 2026.
Market in Asia Pacific to expand at a rapid pace owing to the increasing adoption of hybrid additive-manufacturing machines in the bolstering automotive industry
In terms of geography, the market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. In 2017, North America led the global market, in terms of revenue, followed by Europe. The market in Asia Pacific is expected to expand at a high CAGR from 2018 to 2026 owing to the expansion of the automotive industry in the region. HAM machines can be utilized for the manufacturing of complex engine components that are used in automobiles and various other components such as pistons, gears, shafts, and axles. The market in Asia Pacific is anticipated to expand at a CAGR of 24.16% during the forecast period.
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
Contact Us
Mr. Atil Chaudhari
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
Research Blog: http://www.techyounme.com/