SmarTech Publishing, industry analyst firm, has issued a new report examining the current market for automotive additive manufacturing, 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 (approximately £4 billion) in revenues in 2023 and then grow to an impressive $12.4 billion (approximately £9.3 billion) by 2028.
The report suggests adoption of AM by the automotive segment for production purposes is going to mark an inflection point for additive manufacturing, with over $12 billion (approximately £9 billion) in expected annual global revenues by 2028.
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 for the automotive additive manufacturing market driving the entire segment.
Multi-jet fusion (HP), digital light synthesis (Carbon) as well as metal binder jetting projects from Desktop Metal, GE, HP and Stratasys, displays that major new hardware from leading vendors is now focusing on automotive part production.
The report also highlights the next generation software is enabling both optimised part design for AM and AM integration into the end-to-end production workflow.
