NEW YORK, Nov. 04, 2020 (GLOBE NEWSWIRE) -- SmarTech Analysis has just issued its latest report that analyzes and forecasts metal additive manufacturing service bureau revenues titled, “The Market for Metal Additive Manufacturing Services: 2021-2029”. In this new report, SmarTech Analysis has pegged revenues for Metal AM Services at $6.95 Billion by the year 2025, rising to 15.5 Billion by 2029.
These projections include revenues from core manufacturing and prototyping services as well newer value-added services such as design services, training and non-AM manufacturing. SmarTech’s revenues projections in this report are lower than our equivalent numbers for the services sector published in 2019, primarily because of the COVID-19 pandemic.
Additional details of the study including a TOC and excerpt are available https://www.smartechanalysis.com/reports/the-market-for-metal-additive-manufacturing-services-2021-2029/ This subject and many more AM topics will be addressed at the upcoming Additive Manufacturing Strategies 2020 event taking place online on February 9-12th 2021. See www.additivemanufacturingstrategies.com for more details.
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 leading service bureaus that have a significant proportion of their business in the metals space.
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.
Companies profiled in the report include: 3D Systems, BeamIT, Burloak Technologies, Carpenter, DM3D, ExOne, Falcontech, FIT, GE Additive, GKN, Henkel, Hoganas, HP, i3DMFG, Jabil, Metal Point Advanced Manufacturing, Materialise, MTI, Oerlikon, Protolabs, Renishaw, Sculpteo, Shining3D, Sintavia, Siemens, Solid Concepts, Stratasys, Thyssenkrupp, voestalpine, Wipro 3D3D Hubs, Hitch3DPrint and Xometry.
From the Report
- Although COVID-19 has hurt revenue prospects for the metal service bureaus business, we believe it has also created opportunities. Corporations will now make contingency planning for supply chain crises a top strategic priority. Supply chain stability and diversification supplied through metal AM technologies will help meet their needs. In addition, the impact of reshoring from China will also boost the use of AM services.
- More than 40 percent of metal printing services revenues will come from the healthcare (medical and dental combined). Doctors and hospitals often see the benefits in 3D printing, but 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. In some cases, medical bureaus are able to focus on very high value-added parts in this space. Thus, consider FIT which has made a specialty in printing medical implants made from biocompatible titanium alloys (Grade 2 and Grade 5) using EBM designed for bone replacement. Meanwhile, 3D printing is already a widely accepted approach used in the dental sector which can only continue to grow.
- Service bureaus with considerable in-house expertise can also sell that expertise in the form of training services and consulting, pushing their daily involvement with practical additive manufacturing as an advantage. Successful training and consulting services that may emerge will be oriented towards improving part quality and part consistency, certification and environmental education. We also expect an increase in consultancy services offered by the bureaus designed to help end-users better implement AM.
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. Our company has a client roster that includes the largest 3D printer firms, materials firms and investors in the 3DP/AM sector.
For more details on our company go to www.smartechanalysis.com.
Contact:
info@smartechpublishing.com
A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/29f94cd2-203e-44a4-a30e-eb8500e68e3f
