Market Research Future (MRFR) has published a cooked research report on the “Global 3D Printing in Automotive Market” that contains information from 2022 to 2030. The Global 3D Printing in Automotive Market is estimated to register a CAGR of 15.94% during the forecast period of 2022 to 2030.
MRFR recognizes the following companies as the key players in the Global 3D Printing in Automotive Market— Autodesk, 3D Systems Inc, Stratasys Ltd, Arcam AB, EnvisionTEC Inc, Exone, Voxeljet AG, Local Motors, and Ponoko Ltd.
Global 3D Printing in Automotive Market is accounted to register a CAGR of 15.94% during the forecast period and is estimated to reach USD 9.7 Billion by 2030.
3D printing in the automotive context refers to the process of creating three-dimensional objects or components by layering materials, typically in an additive manner, based on a digital model or design. Also known as additive manufacturing, 3D printing has gained prominence within the automotive industry as a cutting-edge technology for producing various vehicle parts and components. In this process, a digital 3D model of the desired object is created using computer-aided design (CAD) software. The 3D printer then follows the design specifications by adding material layer by layer, which could be plastic, metal, composite, or even specialized materials, such as carbon fiber-reinforced polymers. This layer-by-layer approach enables intricate and complex shapes that might be challenging or impossible to achieve with traditional manufacturing methods.
Global 3D Printing in Automotive Market has been segmented based on Technology, and Application.
Based on Product Type, the market is segmented into Stereolithography (SLA), Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, and Others. The dominance of Stereolithography (SLA) in the 3D Printing Automotive market is attributed to its precision, speed, and ability to produce intricate prototypes and functional parts with high accuracy.
Based on Application, the market is segmented into Prototyping and Tooling, Manufacturing, R&D Activities, and Others. The Prototyping and Tooling category's market dominance is owed to its capacity to accelerate product development, enhance design validation, and streamline manufacturing processes within various industries.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of 3D Printing in Automotive Market Analysis Report
The Global 3D Printing in Automotive Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global 3D Printing in Automotive Market comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global 3D Printing in Automotive Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World's Global 3D Printing in Automotive Market comprises of Middle East, Africa, and Latin America.
Currently holding the greatest market share, North America is trailed by Europe and Asia-Pacific in succession. North America and Europe's prevalence in the field is driven by the substantial investment in research and development by a significant number of OEM manufacturers. Numerous automotive companies are embracing 3D printing to create tailor-made vehicle components, leading to reduced turnaround times, minimized material wastage, decreased production costs, heightened manufacturing efficiency, and expedited prototyping processes for automotive parts.
The anticipated surge in the Automotive 3D printing market across the Asia-Pacific region is the result of a synergistic convergence of various influential elements. First and foremost, the entry of a multitude of startups into this domain brings a dynamic and innovative force, invigorating the landscape and driving technological advancements. Furthermore, the well-established chemical industry in the region synergizes with this growth, facilitating the accessibility of high-quality materials that are vital for the 3D printing process. These materials are integral to ensuring the precision, durability, and performance of the printed components.
Key Findings of the Study