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Each year, 3D printing experts and followers eagerly await the Wohlers Report to get their finger on the pulse of the industry. The Wohlers Report 2019 forecasts for 2020 is $15.8 billion for all AM products and services worldwide. The company expects that revenue forecast to climb to $23.9 billion in 2022, and $35.6 billion in 2024.
Tweet This: Wohlers Report 2019 Forecasts $35.6 Billion In 3D Printing Industry Growth By 2024.
Note: To be clear, the 2019 report is analyzing data from 2018. The 2018 report is analyzing data from 2017 showing revenue at $7.34 billion, so it's expected to more than double by 2020. My 2018 is linked at the end of this post.
The 24th annual Wohlers Report mirrors the general state of the industry: Their report grows in page count as does the industry revenue. This year the report is at 369 pages. It is filled with insights and data (lots and lots of data), such as,
- Benefits and challenges of designing for AM
- Listing of 107 early-stage investments valued at nearly $1.3 billion
- The overall materials segment of the industry saw record growth in 2018.
- Revenue from metals grew an estimated 41.9%, continuing a five-year streak of more than 40% growth each year.
One of the more significant developments to me is that last year reported there were 135 system manufacturers (as in the companies that make the actual printers and systems). This year, in the 2019 report, Wohlers Associates tracked growth and sales of 177 producers of industrial AM systems (which are those priced at $5,000 or more). 42 more 3D printer system manufacturers in existence over data reported last year. Again, this is for industrial systems.
Unfortunately, desktop 3D printing systems (those that sell for under $5,000) saw a significant decline in annual growth as well as several complete shutdowns.
The overall AM market continues to trend upward, with many new players, hundreds of millions of dollars invested, and innovative new products designed for AM that few envisioned years ago.
The report highlights notable AM-related activities in many industries, including aerospace. The company collected insights from the likes of Airbus, Boeing, Honeywell Aerospace, and United Technologies Corp., to gain perspective on using AM to produce end-use parts. These companies, along with BMW, Deutsche Bahn, FIT, Jabil, Oerlikon, UPS, the U.S. Marine Corps, and others shared emerging trends from their vantage points. Among the trends are knowledge and skills development, cybersecurity, post-process automation, materials development, partnerships, and industry standards.
Wohlers Report 2019 draws upon the expertise of 80 authors and contributors located in 32 countries. Wohlers Associates also received input from 127 service providers, 71 manufacturers of industrial systems, and 30 producers of desktop 3D printers and third-party materials around the world.
Based on last year’s report and post, this 2019 report data represents healthy, significant upswings: From that post: “Wohlers Associates is recognized as one of the preeminent 3D printer experts in the world. Their detailed annual report on the state of the 3D printing industry the eponymous Wohlers Report 2018 reveals significant increases in metal additive manufacturing (AM) this year. Investors will appreciate the solid 21 percent growth as the industry exceeds $7.3 billion.” -- Source: Wohlers Report 2018: 3D Printer Industry Rises 21 Percent To Over $7 Billion.
