Industry analyst firm SmarTech Publishing has issued a new report that examines the current market for automotive additive manufacturing (AM) market including prototyping and tooling applications while focusing specifically on production of final parts. In the new report, SmarTech expects the overall automotive additive manufacturing market to reach $5.3 billion in revenues in 2023 and then grow to an impressive $12.4 billion by 2028.
Automotive industry stakeholders worldwide are now racing toward full industrialization and integration of the AM process within their end-to-end production workflow, beginning with software and materials, passing through the actual AM hardware, and ending with services and a growing number of possible applications. 3D printing is thus well positioned to expand its use as the primary technology for automotive prototyping as well as tooling, while also establishing a stronger than ever opportunity for serial and mass customized part production.
The company’s third dedicated study of automotive AM expands coverage to consider the greater long term potential for additive manufacturing as a key production technology for the massive global automotive industry, paving the way to widespread adoption of both metal and polymer AM technologies. This comprehensive report includes:
- Ten-year 3D printing opportunity and market data forecasts in volume and value terms for automotive additive manufacturing. These cover hardware, materials, software, services and overall printed parts value.
- Expanded market data to include key metrics at a country level, better capturing the regional attitudes towards introducing AM in the production workflow for prototyping, tooling and final parts.
- 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.
- Complete analysis of software used in the end-to-end automotive production cycle, in light of recent advanced in generative design software and PLM software solutions.
- The latest trailing twenty-four months activity and competitive analysis to reflect the rapidly evolving landscape in which major automakers, automotive tier 1 and tier 2 suppliers and “application agnostic” 3D printing service are finding new cost-effective solutions through AM adoption.
- Complete and detailed analysis and forecast of the potential for final parts production through AM