In a study released by Additive Manufacturing Research, the report titled “Additive Manufacturing in the Energy Sector: Market Analysis & Forecast” has forecasted a surge in market activity, from $2.6 billion in 2023 to a projected $17 billion by 2032.
The analysis delved into the opportunities and potential of additive manufacturing (AM) technologies across the oil & gas, nuclear, and renewable energy landscapes.
Authored by industry consultant Oliver Smith, of ReThink Additive, the report highlighted the impact of 3D printing on conceptualising, developing, deploying, and maintaining crucial assets and equipment.
This comes at a time as the global energy landscape navigates the challenges of decarbonisation and geopolitical uncertainties, Additive Manufacturing Research said in a press release.
The study suggested that energy providers, technology firms, investors, and policymakers must adopt proactive measures to fully leverage the potential of additive manufacturing.
Noteworthy companies and organisations profiled in the report include Shell, GE Power & Renewable Energy, ExxonMobil, Baker Hughes, ConocoPhillips, Westinghouse, American Petroleum Institute, DNV GL, Lloyd’s Register, Stratasys, 3D Systems, EOS, Desktop Metal, and Markforged.
Authored by Oliver Smith, a seasoned 3D printing industry consultant with over a decade of experience, the report draws on insights from Smith’s tenure at Stratasys’ consulting division, showcasing a deep understanding of the energy sector’s evolving needs.
Moreover, according to the study, AM is expected to play a pivotal role in streamlining operations, reducing downtime, and pushing the boundaries of innovation for next-generation energy sources.
The report also addressed challenges such as material limitations, regulatory compliance, and industry-specific certifications and standards, all of which are already under consideration.
Since 2013, Additive Manufacturing Research, previously known as SmarTech Analysis, has been releasing comprehensive reports that cover significant revenue opportunities within the 3D printing and additive manufacturing industry.
