Custom Manufacturing Market to Reach $1.35 Trillion, Globally, by 2031 at 4.6% CAGR: Allied Market Research

Rhea-AI Summary

The global custom manufacturing market, valued at $858.8 billion in 2021, is projected to reach $1.35 trillion by 2031, with a CAGR of 4.6% from 2022 to 2031, according to a recent report by Allied Market Research. Key growth drivers include increasing government spending in developing countries like India and Brazil, along with the cost-saving potential of machine customization. The built-to-order products segment dominated the market in 2021 and is expected to continue leading, while the industrial segment accounted for two-thirds of market revenue. Asia-Pacific held the largest market share in 2021, driven by manufacturing growth in China and India.

Positive

• Global custom manufacturing market expected to grow from $858.8 billion in 2021 to $1.35 trillion by 2031.
• CAGR of 4.6% projected from 2022 to 2031.
• Strong growth driven by government spending in developing nations like India and Brazil.
• Built-to-order products segment contributed to nearly 60% of the market share in 2021.
• Industrial segment generated two-thirds of the global custom manufacturing market revenue in 2021.
• Asia-Pacific region held nearly 40% of the market share in 2021.

Negative

• Pandemic adversely affected demand for customized products during lockdowns.
• Manufacturing and production activities were heavily disrupted due to COVID-19.

Growing awareness in different developing countries and increasing expenditure by government bodies in different countries such as India and Brazil are giving way to the adoption of new solutions for manufacturing which in turn is fueling the growth of the global custom manufacturing market.

PORTLAND, Ore., Feb. 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Custom Manufacturing Market by Type (Built-To-Order Products, Custom Products), by Product (Industrial, Non-Industrial), by End user (Automotive, Aerospace, Manufacturing, Retail, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global custom manufacturing industry was estimated at $858.8 billion in 2021, and is anticipated to hit $1.35 trillion by 2031, registering a CAGR of 4.6% from 2022 to 2031. The report offers an explicit analysis of the changing market trends, top segments, key investment pockets, value chain, competitive scenario, and regional landscape.

Download Free Sample Report (214 Pages PDF with Insights, Charts, Tables, Figures):  https://www.alliedmarketresearch.com/request-sample/16900

Determinants of growth-

Growing awareness in different developing countries and increasing expenditure by government bodies in different countries such as India and Brazil are giving way to the adoption of new solutions for manufacturing which in turn is fueling the growth of the global custom manufacturing market. Moreover, the fact that the custom manufacturing process helps in saving the labor cost due to introduction of machines for customizing products is expected to create lucrative opportunities for the key players in the industry.

Covid-19 Scenario-

• The outbreak of the pandemic had a negative impact on the global custom manufacturing market, as demand for customized products experienced a sharp decline during the lockdown.
• The manufacturing and production activities were also hampered, which aggravated the market condition even more. However, the market is getting back on track at a fast pace.

The built-to-order products segment to dominate by 2031-

By type, the built-to-order products segment contributed to nearly three-fifths of the global custom manufacturing market share in 2021, and is expected to lead the trail by 2031, due to growing inclination toward desired customization. The custom products segment, however, is expected to exhibit the fastest CAGR of 4.9% from 2022 to 2031, owing to increase in restrictions on use of plastic.

Buy This Research Report @ https://bit.ly/3YveaLx

The industrial segment to maintain the lion's share-

Based on product, the industrial segment generated nearly two-thirds of the global custom manufacturing market revenue in 2021, and is expected to lead the trail by 2031. This is because custom manufacturing has become a preferred choice in heavy industries. The non-industrial segment, simultaneously, would manifest the fastest CAGR of 4.9% from 2022 to 2031, due to increase in manufacturing of customized products for the open market.

The manufacturing segment to rule the roost-

By end-user, the manufacturing segment garnered more than one-fourth of the global custom manufacturing market share in 2021, and is expected to retain its dominance by 2031. This is due to surge in demand for custom manufacturing in manufacturing and production. The others segment, on the other hand, is expected to exhibit the fastest CAGR of 6.4% from 2022 to 2031, owing to rise in demand for custom made products.

Asia-Pacific garnered the major share in 2021-

Based on region, Asia-Pacific held the major share in 2021, generating nearly two-fifths of the global custom manufacturing market. This is attributed to extensive manufacturing across China and India. LAMEA, on the other hand, would garner the fastest CAGR of 7.4% by 2031. Rapid industrialization and urbanization in the developing countries of the region fuel the market growth.

Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/16900

Key players in the industry-

• Con-Tech International
• ARAS Corporation
• Hexagon AB
• Promega Corporation
• Thomas Swan
• Custom Manufacturing & Engineering
• AVEFLOR
• Parametric Technology Corporation Inc
• Siemens AG
• Custom Manufacturing Corporation
• Custom Mfg. Corp.
• Dassault Systemes
• DB Custom Manufacturing
• DM&E
• MetalTek
• Micro-Mechanics
• Monroe Engineering Products

The report analyzes these key players in the global custom manufacturing market. These players have incorporated various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in assessing the operating segments, their business performance & product portfolio, and so on.

Trending Reports in Custom Manufacturing Industry (Book Now with 10% Discount):

Global digital manufacturing market is expected to reach $1,370.3 billion by 2030

Global semiconductor assembly equipment market is projected to reach $8,162.3 million by 2030

Global semiconductor production equipment market is projected to reach $209.9 billion by 2031

Global CNC metal cutting machine market is projected to reach $83,364.4 million by 2030

Global waterjet cutting machines market is projected to reach $1,986.40 million by 2030

Plasma Cutting Machine Market Global Opportunity Analysis and Industry Forecast, 2021-2030

Hybrid Additive Manufacturing Machines Market: Global Opportunity Analysis and Industry Forecast, 2021-2031

Die Cutting Machine Market Global Opportunity Analysis and Industry Forecast, 2021-2031

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact Us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com/reports-store/construction-and-manufacturing

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

 

View original content:https://www.prnewswire.com/news-releases/custom-manufacturing-market-to-reach-1-35-trillion-globally-by-2031-at-4-6-cagr-allied-market-research-301746376.html

SOURCE Allied Market Research

FAQ

What is the current value of the global custom manufacturing market?

The global custom manufacturing market was valued at $858.8 billion in 2021.

What is the projected growth rate of the custom manufacturing market?

The market is expected to grow at a CAGR of 4.6% from 2022 to 2031.

Which regions are driving growth in the custom manufacturing market?

Growth is driven by increasing government expenditure in countries like India and Brazil.

What segment dominated the custom manufacturing market in 2021?

The built-to-order products segment contributed to nearly three-fifths of the market share in 2021.

How did COVID-19 affect the custom manufacturing market?

The pandemic led to a sharp decline in demand for customized products and hampered manufacturing activities.