3D Printer HardwareAdditive ManufacturingIndustry AnalysisMetal Additive ManufacturingMoney & Funding

The top 10 metal AM companies by revenue

EOS leads a group of key players in metal AM, according to the latest VoxelMatters Metal AM Market Report 2023 that was released on December 4th

Stay up to date with everything that is happening in the wonderful world of AM via our LinkedIn community.

If we combine revenues from all core AM segments (hardware, materials, and services), all of the top 10 metal AM companies by revenue in 2023 are hardware manufacturers. This is one of the key findings from VoxelMatters Research’s latest Metal AM Market 2023 report, which was released last week. Most of these hardware companies are also first-party metal AM material suppliers to their customers (and sometimes third-party suppliers of materials for other types of hardware as well). Three out of ten of them are also leading metal AM service providers (using mainly their own technologies). Out of these top ten companies, nine offer hardware based on metal L-PBF technology.

Desktop Metal is the only company out of the top 10 that does not offer PBF hardware. The company founded by Ric Fulop is also one of two companies on the list offering metal binder jetting (and the only one generating significant revenues with this technology today). Two companies on this list, DMG Mori and TRUMPF, offer DED (powder-based L-DED) technology, along with metal L-PBF, while one company, GE Additive, offers EB-PBF and binder jetting technologies, also along with L-PBF. Some of the revenue data that has been collected by VoxelMatters includes both estimates and confidential information provided by the companies so it cannot be disclosed in detail. However, some of the data is also available from public sources so we can say with a high degree of confidence that the order of magnitude and the companies’ positioning in this list is highly accurate.

From EOS on down

EOS, a provider of both metal L-PBF AM hardware and metal AM powder materials for L-PBF, is the largest company in the world, generating approximately $150 million from its metal AM-related activities according to VoxelMatters’ own estimates and sources. The other top three contenders in this space include SLM Solutions and 3D Systems, both of which have risen to the top of the list because they can complement their hardware offering with sales of materials and – in the case of 3D Systems – services. While 3D Systems sold its industrial part manufacturing business to Quickparts, the company can also count on revenues generated by its Belgium-based metal AM service business for healthcare (implants) from the Layerwise acquisition almost a decade ago.

The top 10 metal AM companies by revenue: EOS leads, according to the latest VoxelMatters Metal AM Market Report 2023
The new EOS M 300-4

The next group of three companies sees a more varied range of companies. The fourth largest company by revenue is Desktop Metal. Even though the company has been struggling since going public, its business foundation is solid as it combines revenues generated by its hardware business, including various metal binder jetting technologies (some inherited from the acquisition of ExOne) as well as proprietary bound metal printing hardware solutions. Desktop Metal revenue also comes from services offered via ExOne’s service centers and smaller acquisitions such as Aidro. The fifth company by overall revenue, GE Additive, is the only one offering three different hardware technologies: L-PBF (through the acquisition of Concept Laser), EB-PBF (through the acquisition of Arcam), and metal binder jetting via internal development. GE also offers metal AM powders via AP&C (acquired via Arcam). GE’s additive operations have so far obtained mixed results. The company made a huge investment ($1.4 billion) to acquire Concept Laser and Arcam and it encountered many difficulties in expanding the market for these technologies, especially Concept Laser’s L-PBF. Now the company’s binder jetting technology has been several years in the making but only a handful of systems have so far been installed globally. The overall GE group also went through some challenging times but is now back on the upswing and AM activities may benefit from this. The sixth company, Bright Laser Technologies (or BLT), is the largest Chinese company and the only major Chinese company to offer metal AM hardware (L-PBF), metal AM powders, and metal AM services.

The top 10 metal AM companies by revenue: EOS leads, according to the latest VoxelMatters Metal AM Market Report 2023
Velo3D’s Sapphire XC.

Next up is Velo3D, a company that has recently entered the market but has already achieved top 10 status in the metal AM market. It has done so exclusively through the sale of its Sapphire L-PBF hardware solutions. Velo3D’s policy is to qualify third-party materials and to establish a network of contract manufacturers to offer production services around the world. As such the company does not generate revenues from materials and services but remains among the top 10 companies via its solid hardware solutions business. The final group also includes two very similar companies, DMG Mori and TRUMPF, both of which, as we saw earlier, offer L-PBF and L-DED (powder bed and powder-fed) technologies. Both companies came from the machine tool industry and developed their DED technology. Both added L-PBF technology through acquisitions of pre-existing companies. DMG Mori acquired German L-PBF pioneering company Realizer, while TRUMPF (after developing and then abandoning its L-PBF technologies in the early 2000s) co-developed its industrial LMF (L-PBF) technology with Italian Jewelry technology specialist Simsa via a joint venture that was later acquired by the German company.

The core metal AM market

Four types of operators and stakeholders make up the metal AM market. Three of these are considered in the data included in VoxelMatters’ Metal AM Market 2023 study.

The leading manufacturers of metal AM hardware were instrumental in establishing the metal AM market and, for the most part, continue to drive its growth today. However, they are now facing competition from a new generation of players. Traditional industry leaders such as EOS, SLM Solutions, GE Additive, 3D Systems, and Renishaw are active in the metal powder bed fusion segment, which is dominated by German firms. Market share is being gained by new entrants like Velo3D from the US, AddUp from France, and Chinese companies such as BLT, HBD, Eplus3D and Farsoon.

The top 10 metal AM companies by revenue: EOS leads, according to the latest VoxelMatters Metal AM Market Report 2023
SLM Solutions’ NXG XII 600E

EOS and SLM Solutions (which was acquired by Nikon) are both based in Germany. American companies GE Additive and 3D Systems entered the sector through acquisitions of European companies: GE Additive acquired German firm Concept Laser and Swedish firm Arcam AB in 2016, while 3D Systems acquired French firm Phoenix in 2012. The new generation of competitors in the metal AM market is focused on increasing production throughput.

Additionally, several companies are actively working on industrializing and bringing metal binder jetting technology to the market as a high-throughput alternative to metal PBF. This includes major companies like HP and GE, as well as smaller companies like Desktop Metal (which is developing its own technology and acquired metal binder jetting pioneer and current market leader ExOne) and Markforged (which acquired Swedish company Digital Metal from Höganäs).

The top 10 metal AM companies by revenue: EOS leads, according to the latest VoxelMatters Metal AM Market Report 2023
The X-Series metal binder jetting systems from Desktop Metal

Materials manufacturers have been developing and optimizing metal alloys for use in additive manufacturing, while also building the infrastructure for atomization of AM-compatible metal powders. A group of around 20 companies established significant leadership in this segment. These include large international companies like Carpenter Technologies, GKN, Oerlikon, Sandvik, ATI, Linde (Praxair), and several others. However, many more large materials groups – such as most recently Arcelor Mittal – have identified AM as a promising area for growth and are entering the market, leading to a rapid expansion of available materials.

Despite this, the demand for (and the supply of) metal AM materials remains relatively low in terms of volumes, prompting some of these companies to offer metal AM services in order to capitalize on their access to AM materials. New metal AM technologies that use wire as feedstock may affect these market dynamics in the years to come.

The top 10 metal AM companies by revenue: EOS leads, according to the latest VoxelMatters Metal AM Market Report 2023
Carpenter’s AM metal powder atomization facility.

Metal AM service providers offer their capabilities to companies that require AM parts but don’t want to invest a significant amount of money and resources upfront to establish their own AM production capabilities. Leading international AM service providers include Protolabs, Toolcraft, FIT, and Materialise, which also offer polymer AM capabilities.

Specialist metal AM service providers include companies like BEAMIT in Italy, Poly-Shape (now part of AddUp) in France, Siemens Materials Solutions in the UK, and Sintavia, Morf3D, KAM and many others in the US. Multiple Chinese companies (mainly operating in the domestic market) now also offer advanced metal AM capabilities, sometimes with well over 100 production-ready machines. This list, of which we provide a detailed analysis in Chapter 4 of VoxelMatters Metal AM Market 2023 report, includes several dozen smaller firms. Metal AM service providers often play a crucial role in developing, implementing, and occasionally patenting new end-to-end production workflows that integrate AM technology.


These service providers differ from AM adopters (which are the fourth major category of metal AM market operators and not part of the core AM market) as they offer application-agnostic 3D printing services that can meet various industrial requirements. On the other hand, AM adopters use AM technology to produce parts, specializing in specific segments. They can either be original equipment manufacturers (OEMs) in different industrial segments or serve as Tier 1 or Tier 2 suppliers of 3D printed parts to OEMs. They also use 3D printed parts internally as end-users.

Prominent metal AM adopters who have made significant investments in industrializing metal AM include major Tier 1 and Tier 2 suppliers in the aerospace, automotive, medical, maritime, and energy sectors. Companies such as Airbus, Boeing, BMW, Daimler Benz, Volkswagen, Stryker, Zimmer Biomet, Thyssenkrupp, and Wilhelmsen operate in these segments. The use of AM by adopting companies is analyzed by VoxelMatters Research in vertical-segment-specific studies. More information on vertical adoption of AM is available in our free VM Focus eBooks.

Composites AM 2024

746 composites AM companies individually surveyed and studied. Core composites AM market generated over $785 million in 2023. Market expected to grow to $7.8 billion by 2033 at 25.8% CAGR. This new...

Davide Sher

Since 2002, Davide has built up extensive experience as a technology journalist, market analyst and consultant for the additive manufacturing industry. Born in Milan, Italy, he spent 12 years in the United States, where he completed his studies at SUNY USB. As a journalist covering the tech and videogame industry for over 10 years, he began covering the AM industry in 2013, first as an international journalist and subsequently as a market analyst, focusing on the additive manufacturing industry and relative vertical markets. In 2016 he co-founded London-based VoxelMatters. Today the company publishes the leading news and insights websites VoxelMatters.com and Replicatore.it, as well as VoxelMatters Directory, the largest global directory of companies in the additive manufacturing industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close Popup
Privacy Settings saved!
Privacy Settings

When you visit any web site, it may store or retrieve information on your browser, mostly in the form of cookies. Control your personal Cookie Services here.

These cookies are necessary for the website to function and cannot be switched off in our systems.

Technical Cookies
In order to use this website we use the following technically required cookies
  • wordpress_test_cookie
  • wordpress_logged_in_
  • wordpress_sec

Decline all Services
Accept all Services


Join our 12,000+ Professional community and get weekly AM industry insights straight to your inbox. Our editor-curated newsletter equips executives, engineers, and end-users with crucial updates, helping you stay ahead.