NEW YORK, June 6, 2023 /PRNewswire/ — SmarTech Analysis has issued its latest report that analyzes and forecasts metal additive manufacturing service bureau revenues titled, “The Market for Metal Additive Manufacturing Services: 2023-2031”. In this new report, SmarTech Analysis has pegged revenues for Metal AM Services at US$3.8 Billion for the year 2023, rising to US$16.1 Billion by 2031. In view of current economic and geopolitical conditions, SmarTech has revised its forecasts down by about 20 percent from its report on metal additive services almost three years ago.
These projections include forecasts for the revenues from core rapid manufacturing and prototyping services as well newer value-added services such as design services, training and non-AM manufacturing.
Additional details of the study including a TOC and excerpt are available at: https://www.smartechanalysis.com/reports/the-market-for-metal-additive-manufacturing-services-2023-2031/
About the Report
This report consists of four chapters and an Executive Summary. Chapter One provides a detailed business analysis of the metals service bureaus business and its players. Chapter Two is an analysis of where the demand for 3D metal printing services is coming from and what type of services are being demanded. Chapter Three provides detailed ten-year forecasts of that demand. Finally, in Chapter Four we provide strategic profiles of more than 30 leading service bureaus worldwide. Some of the companies profiled in this report include 3DEO, BLT, Burloak, Carpenter Additive, Digital Metal/Markforged, ExOne/Desktop Metal, FIT, GE Additive, GKN Forecast 3D, HP, Materialise, MTI, Oerlikon, Protolabs, Quickparts, Sandvik, Sculpteo, Shapeways, Shining3D, Seurat, Siemens, Sintavia, Stratasys, Thyssenkrupp, voestalpine and Xometry.
The metal printing services markets that are covered in this report include those targeted to the following industries aerospace, automotive, medical/healthcare, dental, jewelry, consumer goods, and oil& gas. In addition, to 3D printing services, the report also forecasts design services, training and non-AM manufacturing services sold by AM service bureaus. Breakouts include revenues by type of material and by geography. We also include forecasts of printers sold to AM service bureaus, with a breakout by printing technology used.
From the Report
- Medical opportunities going forward include metal implants using Ti64, pure titanium or cobalt chrome alloys. These provide the combined advantages of light weight, biological inertness, and their ability to function as a load bearing product. Doctors and hospitals do not have the knowledge to do medical 3D printing in house. Hence these end users turn to bureaus to build the 3D printed items that they need. There is considerable opportunity growth here since very few metal service providers which specialize in medical products.
- Another area of potential for metal service bureaus is the oil and gas industry. Many non-specialist metals-oriented service bureaus work for the oil and gas industry from time to time, but few of them mention it. SmarTech believes that specialized oil and gas 3D printing service bureaus are likely to become more common as demand for 3D printed components increases. If AM can speed up delivery times for spares and repairs, this will be highly valuable, since the cost of a rig being out of service is extremely high.
- In our previous report we reported on a major trend towards metal service bureaus selling expertise in the form of training services and consulting, pushing their daily involvement with practical additive manufacturing as an advantage in the value-added space. We note that at least some service providers are not as enthusiastic about the market for value-added. Nonetheless, one service area that does seem to be getting more attention by additive metal service bureaus is CNC and other subtractive manufacturing solutions, suggesting that in the future AM services will be only part of the strategy of so-called AM service bureaus.
About SmarTech Analysis:
Since 2013, SmarTech Analysis has published reports on all the important revenue opportunities in the 3D printing/additive manufacturing sector and is considered the leading industry analyst firm providing coverage of this sector. SmarTech analysis and data drives strategy development in the additive industry and has been adopted and presented by many of the industry’s largest firms.
For more details on our company: www.smartechanalysis.com
SOURCE SmarTech Analysis