Norway Additive Manufacturing Market

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Norway Additive Manufacturing Market by Type (Desktop 3D Printer and Industrial 3D Printer), by Technology (Stereolithography, Fused Deposition Modeling, Selective Laser Sintering, Direct Metal Laser Sintering, Polyjet Printing, Inkjet Printing, Electron Beam Melting, Laser Metal Deposition, Digital Light Processing, Laminated Object Manufacturing, and Other Technology), by Component (Hardware, Software, and Services), by Application (Prototyping, Tooling, and Functional Parts), and by End User (Desktop Additive Manufacturing and Industrial Additive Manufacturing) – Opportunity Analysis and Industry Forecast, 2024–2030

Industry: Construction & Manufacturing | Publish Date: 13-Nov-2024 | No of Pages: 138 | No. of Tables: 102 | No. of Figures: 67 | Format: PDF | Report Code : CM658

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Norway Additive Manufacturing Market Overview

Norway Additive Manufacturing Market size was valued at USD 68.9 million in 2023, and is predicted to reach USD 310.2 million by 2030, at a CAGR of 22.4% from 2024 to 2030. In terms of volume, the market size was 4 thousand units in 2023, and is projected to reach 22 thousand units by 2030, with a CAGR of 25.3% from 2024 to 2030.

The additive manufacturing (AM) market, also known as additive layer manufacturing (ALM) or three-dimensional (3D) printing, is a global industry focused on developing, manufacturing, and distributing technologies and materials to create three-dimensional objects layer by layer from digital models. This market caters to diverse sectors such as aerospace, automotive, healthcare, and consumer goods, offering advanced solutions for prototyping, production, and customized manufacturing.

AM is highly regarded for its ability to produce intricate and personalized components while minimizing material waste, leading to significant cost savings and environmental benefits. A key feature of this market is its wide range of printing technologies including stereolithography (SLA), selective laser sintering (SLS), and fused deposition modeling (FDM), each tailored to specific industry needs and applications. Furthermore, AM's capability for rapid prototyping accelerates product development cycles, enabling businesses to innovate and bring products to market more swiftly compared to traditional manufacturing methods.

Surge in Defense Budget Propels the Growth of the Market

The expansion in defense budget is driving a growth in Norway additive manufacturing market demand for advanced, customizable, and cost-effective solutions to meet the complex requirements of modern defense systems. Additive manufacturing (AM) plays a crucial role by offering rapid prototyping, customized production capabilities, and lightweight yet durable components essential for modern defense systems.

According to the ITA report 2024, Norway allocates approximately 30% of its defense budget to investments, exceeding the NATO guideline of 20%. In 2023, the defense spending budget amounted to around USD 8.3 billion. This significant increase in defense expenditure enhances the country's defense sector capabilities and fosters the adoption of advanced technologies such as AM for rapid prototyping and manufacturing of resilient parts.

 

Rising Government Initiatives Towards Additive Manufacturing Boosts the Market Growth

Government initiatives aimed at promoting 3D printing drives in Norway additive manufacturing market growth, offering funding opportunities, grants, and tax incentives. These targeted programs and policies incentivize research institutions, universities, and businesses to invest in AM technologies and expertise. Government support also facilitates collaboration and knowledge-sharing among stakeholders, creating a conducive ecosystem for AM development.

For example, the Norwegian Additive Manufacturing Cluster (NAMC), established in 2022, aims to build an ecosystem and knowledge base around AM, connecting relevant stakeholders across industries to stimulate market growth and innovation in the country.

 

High Initial Investment Restrains Market Growth

The significant initial investment required for AM equipment, materials, and training poses a substantial barrier to Norway additive manufacturing market trends. This financial commitment represents a significant challenge for businesses, especially smaller ones, restricting their ability to enter or scale operations within the market. Moreover, ongoing costs associated with materials and training compound the overall financial burden. As a result, many businesses are cautious about adopting AM technology due to these initial financial hurdles, thus hindering the growth potential of the AM market.

Integration of Artificial Intelligence (AI) in Additive Manufacturing Presents Lucrative Opportunity for Market Expansion

Integrating artificial intelligence (AI) into additive manufacturing (AM) is anticipated to expand the 3D printing market by enhancing production processes, advancing product design capabilities, and facilitating the creation of intricate and personalized objects. AI integration enables businesses to analyze extensive data gathered during printing, encompassing material properties, printing parameters, and environmental conditions. This analysis helps identify patterns, optimize settings, and predict potential defects, ultimately improving printing precision and reducing material waste.

 

Competitive Landscape

The prominent key players operating in Norway additive manufacturing industry include Nordic 3D, Promet, Norsk Titanium, Imerso, Visitech, Ludenso, Sloyd, Ludvigsen 3d Printing, Digible, Stratasys and others.

Norway Additive Manufacturing Market Key Segments

By Type

  • Desktop 3D Printer

  • Industrial 3D Printer

By Technology 

  • Stereolithography

  • Fused Deposition Modeling

  • Selective Laser Sintering

  • Direct Metal Laser Sintering

  • Polyjet Printing

  • Inkjet Printing

  • Electron Beam Melting

  • Laser Metal Deposition

  • Digital Light Processing

  • Laminated Object Manufacturing

  • Other Technology

By Component 

  • Hardware

  • Software

    • Design Software

    • Inspection Software

    • Printer Software

    • Scanning Software

  • Services

By Application 

  • Prototyping

  • Tooling

  • Functional Parts

By End User 

  • Desktop Additive Manufacturing

    • Educational Purpose

    • Fashion & Jewellery

    • Objects

    • Dental

    • Food 

    • Other Desktop Additive Manufacturing

  • Industrial Additive Manufacturing

    • Automotive

    • Aerospace & Defense

    • Healthcare

    • Consumer Electronics

    • Power & Energy

    • Other Industrial Additive Manufacturing

Key Players

  • Nordic 3D

  • Promet

  • Norsk Titanium

  • Imerso

  • Visitech

  • Ludenso

  • Sloyd

  • Ludvigsen 3d Printing

  • Digible

  • Stratasys

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size Value in 2023

USD 68.9 million

Revenue Forecast in 2030

USD 310.2 million

Growth Rate

CAGR 22.4% from 2024 to 2030

Market Volume in 2023

4 thousand units

Market Forecast in 2030

22 thousand units

Volume Growth Rate

CAGR of 25.3% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Million (USD)

Growth Factors

  • Surge in defense budgets drives the market growth.

  • Rise in implementation of government initiatives promoting additive manufacturing boosts the market growth.

Companies Profiled

10

Market Share

Available for 10 companies

Customization Scope

Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs.

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Frequently Asked Questions

The key market players operating in Norway additive manufacturing market are Nordic 3D, Promet, Norsk Titanium, Imerso, Visitech, Ludenso, Sloyd, Ludvigsen 3d Printing, Digible, Stratasys, and others.

According to the Next Move Strategy Consulting, the size of Norway additive manufacturing market is estimated to be at USD 310.2 million in 2030.

The integration of artificial intelligence in 3D printing is expected to create opportunities for Norway additive manufacturing market.

High upfront cost acts as restraining factor to the growth of market.

According to the Next Move Strategy Consulting, the size of market is estimated at USD 68.9 million in 2023.

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