CROZET, Va., June 20, 2018 (GLOBE NEWSWIRE) — Industry analyst firm SmarTech Publishing has just issued a new report that examines the current market for additive manufacturing applications in the global automotive segment, including all prototyping and tooling applications while focusing specifically on production of final parts. In the new report, SmarTech expects the overall market for AM in automotive to reach $5.3 billion in revenues in 2023 and then grow to an impressive $12.4 billion US by 2028.
Additional details of the report titled, “Additive Manufacturing in Automotive 2018” are available at: https://www.smartechpublishing.com/reports/automotive-additive-manufacturing/
From the Report:
With over $12 billion in expected annual global revenues by 2028, adoption of AM by the automotive segment for production purposes is going to mark an inflection point for the additive manufacturing.
While the market remains focused on prototyping and tooling, parts production will become the primary revenue opportunity by the end of the forecast period, surpassing prototyping, tooling, hardware and materials.
Parts production including metal and polymer parts, as well as both parts produced internally by automotive OEM’s and in outsourcing, are expected to be the primary revenue opportunity driving the entire segment, totaling nearly $4.3 billion US by the end of the forecast period.
Major new hardware from leading vendor is now focusing on automotive part production: multi-jet fusion (HP), digital light synthesis (Carbon) as well as metal binder jetting projects from Desktop Metal, GE, HP and Stratasys
Major automotive OEMs have formed partnership with AM hardware OEM focusing on part production given the value they see from integrating additive manufacturing into their processes
Next generation software is enabling both optimized part design for AM and AM integration into the end-to-end production workflow.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7631da2a-7e21-4743-a142-c2125c4a5516
About the Report:
In this new report, SmarTech Publishing maps and quantifies the use of additive manufacturing hardware and materials (polymers, metals, composites and ceramics) in the automotive segment, already one of the first and largest adopter of AM technologies for prototyping and tooling applications.
The report analyzes hardware adoption and material consumption based on the most recent advancements in AM adoption. It also provides a detailed description of the recent case histories and major industry partnerships that are shaping and defining AM adoption for the next decade.
SmarTech’s analyses also provides and accurate and updated description of major software used in automotive AM, including recent advances in generative CAD software as well as CAE and CAM tools, simulation and process monitoring software, from both first party and third party suppliers.
By conducting interviews with major stakeholders and adopters in the automotive AM markets, the report goes on to break down major revenue opportunity segment for specific part types while conducting further analysis into the value of external AM services provided by both application agnostic AM service bureaus and tier 1/tier 2 automotive suppliers.
The full report includes:
About SmarTech Publishing:
Since 2013 SmarTech Publishing has published reports on all the important revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading industry analyst firm providing coverage of this sector.
Our company has a client roster that includes the largest 3D printer firms, materials firms and investors. We have also published reports on most of the important revenue opportunities in the 3D printing sector including personal printers, low-volume manufacturing, 3D printing materials, medical/dental applications, aerospace, automotive, and other promising 3D market segments. Visit us at www.smartechpublishing.com.