The global 3D printing in automotive market is expected to reach over USD 3.9 Billion by 2026 and is expected to grow at a CAGR of 24.6% during the forecast period 2019–2026.
In recent years, there is a significant increase in the demand for the better products which will be cost effective, cheap, and light weight. Continuously increasing concern towards, the fuel efficiency many companies are focusing on the development of the new and advanced method for the development of the products. 3D printing is a new technology used in the manufacturing of the automotive parts. Increase in the number of the automotive vehicles across the globe which has boosted the demand for the 3D printing in automotive across the globe. According to Automotive Production Statistics by International Organization of Motor Vehicle Manufacturers (OICA) in 2017, a total number of automotive produced was 97,302,534 units which include which cars and commercial vehicles; Whereas in 2016, it was 94,976,569. Moreover, reducing prices for the machinery and increasing adoption of the technology have supported the growth of the market.
On the other hand, lack of awareness in the other developing countries, and less adopting in this region will slow there growth of the market.
The market research study on “3D printing in automotive Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global 3D printing in automotive market. The report also analyzes the key players operating in 3D printing in automotive market and identifies the key strategies deployed by them along with the market share of leading players.
The global 3D printing in automotive market is segmented as below:
3D printing in automotive Market by Component
3D printing in automotive Market by Technology
3D printing in automotive Market by Application
3D printing in automotive Market by Geography
Global 3D printing in automotive market is segmented by component, technology, and application.
Based on the component, the 3D printing in automotive market is segmented into hardware, software, and services. Hardware is further segmented into material and printers. Material is further bifurcated into plastic, metal, and ceramic. Printer are further segmented into desktop, and industrial.
Based on the technology, the 3D printing in automotive market is segmented into Selective Laser Sintering (SLS), Fused Deposition Modeling (FDM), Stereolithography (SLA), Electron Beam Melting (EBM), Selective Laser Melting (SLM)/Direct Metal Laser Sintering (DMLS).
On the basis of application, the 3D printing in automotive market is segmented into manufacturing, prototyping & tooling, research & development, and others.
Geographically, the 3D printing in automotive market has been segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
North America dominates the global 3D printing in automotive market owing to the growing adoption of automotive vehicles and increased investment in the countries such as the U.S. and Mexico are driving the market growth in North America. U.S. holds the major share in the North America 3D printing in automotive market owing to well developed automotive sectors, increasing demand for the commercial vehicles, and presence of leading players in the market. The manufacturing is considered as the largest industry in U.S. employing over 12 million workers over different states. In addition the overall manufacturing sector contributed around $2.18 trillion to U.S. economy in 2016. These all factors has led to the increasing in the production of the various headlamps reflectors. Additionally, availability of skilled workforce and favorable government policies are major factors supporting the growth of the market.
Europe is a growing market for the 3D printing in automotive market. Though the automotive industries are well developed in Europe still it holds a nominal share in the 3D printing in automotive market. The major market share in hold by the eastern western countries due to use of advanced technology, and availability of huge funds. A huge number of automotive industries are present in the Europe however, the minors requirement required for the vehicles are imported from Asian countries like China and India.
Asia Pacific is expected to have the fastest growth for the market owing to the presence of developing economies in this region. China, Japan and India are the major share holder in this region. China dominates the Asia Pacific 3D printing in automotive market owing to the presence of huge manufacturing companies. The major driving factor for the market in China is increasing demand for the various types of technology from the European countries. The factors favoring the market growth are cheap cost of raw materials, low labor cost, and presence of abundant raw material. Japan 3D printing in automotive market is expecting the steady growth during the forecasted period. The major factors for the steady growth are the saturation in the market. Automobile industries in Japan is highly saturated which is the major reason the market is growing at a steady pace.
Some of the major players in the market are AI Design, Autodesk, 3D systems, Materialise, Ponoko Ltd., Voxeljet AG, Arcam, Startasys, Hoganus AB, Exone, Nano Dimension, Proto Labs, Concept Laser, SLM Solutions Group, Electro Optical Systems, and Renishaw Plc.
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