SmarTech Analysis, an industry Analysis firm, just released its latest report suggesting that the metal additive manufacturing industry is emerging from the challenges of 2018 to generate nearly $3.3 billion in revenue, including 3D printers, materials and services. The company sees 2019 as a strong rebound year and expects the metal additive manufacturing market to reach $11 billion in revenue by 2024.
The SmarTech report estimates that the metal 3D printing market will reach $11 billion by 2024
The latest issue of SmarTech's industry-leading metal additive manufacturing technologies and materials market report identifies how the metal 3D printing market will evolve in three unique technical areas to unlock the world's familiar and emerging global digital manufacturing needs.
The report provides resources to track new manufacturing applications for metal 3D printing over the last year and details the top companies in each segment of the market, while highlighting SmarTech's own long-term analysis of the future of metal 3D printing.
The companies named in the report include AP&C, Carpenter, Coherent, Desktop Metal, EOS, ExOne, GE Additive, Heraeus, Hoganas, HP, Markforged, Oerlikon, Praxair Surface Technologies, Sandvik, SLM Solutions, Stratasys, Tekna, Trumpf pass and Velo3D.
The metal 3D printing market will grow rapidly in 2019
Desktop Metal, HP, Stratasys, GE Additive and other upcoming 3D printing technologies allow customers to stay away and wait for the Additive. At the same time, the rapid development and innovation of laser powder bed fusion technology SLM have put this kind of technology in a better position for industrial manufacturing in general.
Overall, powder bed fusion technology SLM still plays the largest role in metal 3D printing, accounting for 80% of the world's metal 3D printer installations. Although SLM metal 3D printer hardware revenue declined slightly in 2018, sales of metal 3D printing equipment increased significantly, and sales of metal 3D printing category of the new hot melt deposition MDM technology soared.
In the long run, the growth of the metal 3D printing market also seems to depend on users' in-depth understanding of it at a very detailed and professional level. It's here that SmarTech believes the three S will help customers improve their long-term usage and purchasing power: software, services, and standardization.