SmarTech report predicts $5.3 billion market for AM in automotive production in 2023

Industry analyst firm SmarTech Publishing, Crozet, Va., has issued a new report that examines the current market for additive manufacturing (AM) applications in the global automotive segment, including all prototyping and tooling applications, while focusing specifically on production of final parts. “Additive Manufacturing in Automotive 2018” 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.

The report predicts the overall market for AM in automotive to reach $5.3 billion in 2023 and then grow to $12.4 billion 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 parts produced internally by automotive OEMs and in outsourcing, are expected to be the primary revenue opportunity driving the entire segment, totaling nearly $4.3 billion by the end of the forecast period.

For more information, visit www.smartechpublishing.com/reports/automotive-additive-manufacturing/.