Additive Manufacturing Opportunities In The Automotive Industry: A Ten-year Forecast
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Automotive manufacturers were among the earliest adopters of additive manufacturing/3D printing (3DP) technology, but for decades have relegated 3D printing technology to low volume prototyping applications, while other industries have taken additive manufacturing to new levels. But today, an explosion of growth in utilization of 3D printing from automotive manufacturers is powering an evolution in automobile design and production. In this latest report, SmarTech illustrates how 3D printing in the automotive industry will generate a combined $1.1 billion dollars by 2019.
SmarTech believes that the automotive industry is at inflection point in its adoption of 3D printing, driven by several key trends:
- Record print volumes for 3D printed prototype parts are being achieved by several automotive manufacturers, upwards of hundreds of thousands of parts per year.
- Use of 3D printing in automotive is evolving from relatively simple concept models for fit and finish checks and design verification, to functional parts that are used in test vehicles, engines, and platforms. This represents a shift in 3D printing adoption towards higher value applications and is an early step towards acceptance of 3D printed end-use parts in automobiles.
- Leading automotive manufacturers are expanding beyond prototyping and test part production with 3D printing, and now experimenting with utilizing the technology for production of tooling and other parts to enhance the overall manufacturing processes for automobiles.
With these advancements, SmarTech has developed a customer adoption model for 3D printing specific to participants in the automotive industry. A key feature of this report, the model is a template for illustrating the automotive industry’s current and potentially future adoption of 3D printing technology.
With these dramatic developments in mind, SmarTech is publishing this new report on the opportunities for 3D printing/additive manufacturing in the automotive industry over the next decade:
- This report looks at the new business opportunities generated from selling 3DP equipment into the automotive industry. This report also looks at the growing value of 3DP materials, software and services that the automotive sector will consume.
- In addition, the report also examines the limitations of 3DP in automotive industry, and how several key companies are overcoming them in order to broaden the use of 3D printing in automotive.
- As well as analysis, this report includes SmarTech’s ten-year forecast of 3DP equipment, software, services and materials consumed by the automotive industry. Projections of both sales value and unit sales are included, along with breakouts by geographical region. The report also includes discussions of how major 3DP firms are adapting their 3DP product market strategies specifically to meet the needs of the automotive industry.
SmarTech believes that this report will be essential reading for business development and marketing executives in both the automotive industry and at 3DP firms.