New report from Smartech Publishing predicts AM market to hit $5.3 billion by 2023
Final parts production is expected to pass prototyping, tooling, hardware and materials in overall revenue.
In a new report from industry analyst SmarTech Publishing, the automotive additive manufacturing market is expected to hit $5.3 billion in revenues in 2023 reaching $12.4 billion US by 2028.
The report, aptly titled Additive Manufacturing Automotive Forecast, is meant analyze hardware adoption and material consumption based on the most recent advancements in AM. It also gives a detailed description of recent case studies and major industry partnerships that are shaping and defining AM adoption for the next 10 years to come.
A major focus of the report is based on the notion that despite focusing on prototyping and tooling, parts production will become a giant revenue opportunity by the end of the forecasting period surpassing the aforementioned prototyping, tooling, hardware and materials.
Through interviewing major players and adopters within the automotive AM markets, Smartech goes on to break down major revenue opportunities by 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.
This 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.
Within parts production sits metal and polymer as well as everything produced internally by automotive OEMs. This combined with outsourcing are expected to be the main revenue focusing totalling roughly $4.3 billion US by the end of the forecast period.
The full report includes everything from a 10 year AM market forecast to Complete lists and descriptions of key AM hardware and AM materials (both polymer and metal alloys) used in automotive AM, including upcoming production-ready technologies.
You can find the full report at www.smartechpublishing.com