SmarTech predicts that the oil and gas sector will generate $2 billion (USD) in additive manufacturing revenues by 2027.
The overall market for AM adoption in the Oil & Gas sector is expected to grow at 40% CAGR throughout the 11 year forecast period between 2016 and 2027. Growth rates are higher in the first part of the forecast and they slowdown in the second half of the forecast period, as the segment consolidates and yet continues to explore a very significant potential.
Overall SmarTech Publishing expects 3D printing hardware and 3D printing services to represent the most significant revenue opportunities, with AM software (not including CAD) only representing a minor revenue opportunity at this time.
Materials sales also represent a smaller opportunity than services at this time as the intrinsic value of finished 3D printed parts indicates that the technology will continue to be used – for the foreseeable future – for relatively small batches or small size high value parts.
SmarTech Publishing expects that the oil & gas sector will resort primarily to outsourcing for AM part production rather than internal production – at least for the duration of the period analyzed in this report.