ID: MRFR/AM/2863-HCR | February 2021 | Region: Global | 135 pages
3D Printing Automotive Market Scenario:
3D Printing in Automotive Market is projected to be worth USD 4.89 billion by 2027, registering a CAGR of 28.72% during the forecast period (2021 - 2027), The market was valued at USD 1.61 billion in 2020.
Market Research Future has segmented the global 3D printing in automotive into technology, material, application and region. On the basis of technology, the market has been divided into stereolithography (SLA), laser sintering, electron beam melting, laminated object manufacturing and others. As per the market analysis, stereolithography (SLA) technology is expected to rule the market during forecasted period. Whereas on the basis of material, the market has been divided into metal, alloys and others. While the application of 3D printing in automotive market includes prototyping and tooling, manufacturing, R&D activities and others. Geographically, the market has been divided into for major regions such as North America, Asia-Pacific, Europe and Rest of the World. Among these regions, Europe has come up as the leading region in terms of revenue. Advanced technological innovations, skilled labor force huge automotive spending have boosted up the European market. However, North America and Asia-Pacific are considerably the second and third leading regions.
The prominent players in the 3D printing in automotive market include Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc and among others.
Increasing research and development activities and innovations is strengthening the automotive industry worldwide. With a huge capital investment in automotive technology, several manufacturers are focusing on light weight vehicles to decrease the fuel consumption and low emission. Among all the R&D activities, 3D printing in automotive has come up with a rapid pace and gaining attention in the global automotive industry.
Over the past few years, the precedence of 3D printing in automotive has gained a positive impression among the manufacturers due to its several driving factors such as light weight body material, increasing investment, huge spending on research and development and technological innovations. Due to these driving factors, the global market for 3D printing in automotive industry is increasing at a rapid pace with a surge in demand. Moreover, the manufacturers such as Local Motors, Honda and others have released several 3D printed cars and those cars had gained a much attention in the global market. This types of moves in the automotive industry boost the value in the market.
The report for Global 3D Printing in Automotive Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
|Market Size||2027: USD 4.89 billion|
|CAGR||26.2% CAGR (2018-2025)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Technology, Material and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec|
|Key Market Opportunities||Increasing at a rapid pace with a surge in demand|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The automotive 3D printing market is expected to record a substantial market valuation of up to USD 4.89 billion by 2027.
The global automotive 3D printing market is projected to register a moderate 28.72% CAGR in the forecast period.
The alloys segment is slated to expand as the fastest-growing segment.
The manufacturing segment is expected to witness substantial growth.
A few major market players operating in the global 3D PRINTING IN AUTOMOTIVE market are Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc and others.
3D printing has great power and enables the achievement of effects which would not be possible with the use of the traditional manufacturing methods. Car components produced with the FDM technology are lighter, which results in a reduction of the vehicle weight, better performance and lower energy consumption.
Here are few examples for it - Engineers at Sauber are able to print parts like front wings, brake ducts, suspension and engine covers much faster and with greater design flexibility than traditional manufacturing would allow. Another example comes from Volkswagen Motorsport, which used 3D printing for the development of its electric I.D. R Pikes Peak race car.