Hybrid Additive Manufacturing Machines Market size is expected to increase considerably from 2023 to 2032. This is due to the myriad benefits of hybrid additive manufacturing techniques over standard 3D printing and CNC machines, such as high tolerance and reduced post-processing and tooling costs. In addition, the escalating usage of hybrid metal additive manufacturing machines in end-use industries like aerospace and defense to meet the strict surface integrity requirements will propel industry share by 2032.
A commendable rise in new car sales in the UK is also one of the leading factors proliferating the market trends between 2023 and 2032. For instance, as per the SMMT (Society of Motor Manufacturers and Traders) data, registrations of new vehicles stood at 141,583 in the country, an appreciable increase from 4,321 in April 2020. Likewise, the rise of revolutionary technology, such as 3D printing, for the development of complex designs and to ensure minimal wastage, as compared to traditional manufacturing, will also augment hybrid additive manufacturing machines market revenues by end of 2032.
However, the ongoing cross-border disturbances between Russia and Ukraine caused severe disruptions to global markets and hampered the overall industrial production in the two countries, along with several Eurozone and American economies. The value chain vulnerabilities caused due to bilateral dependencies, export restrictions, persistent market asymmetries, and lack of transparency deeply impacted the global trade flows. With the war seeming to continue in the near future and reach new dimensions, the hybrid additive manufacturing machines market may experience a significant setback in the coming years.
With respect to material, the Aluminum segment is slated to garner lucrative gains through 2032, owing to the increasing usage of aluminum in manufacturing several industrial components and complex, lightweight structures. Besides, the escalating technological advancements, along with a recognizable rise in strategic investments by leading players to develop new metal alloys with added functionalities, will streamline industry growth in the next ten years.
Based on end-use, the electronics segment will contribute significant industry revenues during 2023-2032. This can be credited to the emergence of additive manufacturing as an effective way to cater to the needs of high-end electronics manufacturers, given its greater design freedom, low tooling costs, and accelerated time to market. Additionally, a noticeable rise in the shipment of personal computers driven by the flourishing remote working and learning trends will escalate segment gains through 2032.
Europe hybrid additive manufacturing machines market is anticipated to record a sizeable valuation by 2032, owing to the positive outlook of the aerospace industry in the region. In April 2021, Magellan Aerospace gained the approval to expand its aerospace factory in Llay in Wrexham, North Wales, which could fuel the requirement for a hybrid AM process across this end-use industry in the region. Moreover, the growing number of routine operations and procedures in the medical sector will further stimulate the deployment of hybrid additive manufacturing technologies to develop medical devices.
Yamazaki Mazak Corporation, Okuma America Corporation, Matsuura Machinery Corporation, Siemens AG, Stratasys Ltd., DMG Mori Seiki Corporation Ltd., SLM Solutions Group AG, and Optomec are some of the key participants in the hybrid additive manufacturing machines market. These firms are implementing strategies such as new product launches, collaborations, and acquisitions to drive their business footprint in the global market. For instance, in September 2021, Burgmaier extended its partnership with SLM Solutions by launching case-hardening steel 16MnCr5 and developing a hybrid additive manufacturing process using the SLM280 3D printer.