3D printing is on track to become a vital component within oil and gas, according to data and analytics company GlobalData.
In a new report, the company revealed that the technology is expected to gain “further market penetration” and noted that it has “tremendous potential in the oil and gas industry in delivering productivity gains”.
“Companies find themselves at a critical stage of replacing, retrofitting and maintaining large portions of their equipment and physical infrastructure. 3D printing technology can significantly improve these processes,” GlobalData states on its website.
“3D printing ability to manufacture spare parts would not only speed up processes, but make them much more cost-effective,” the company added. GlobalData’s website highlights that 3D printing has already made “significant impact” in the construction, aerospace and automotive industries. […]
3D printing is enabling many a small business the agility to pivot operations toward localizing their supply chains....