US 3D Printing in Automotive Market 2020: Potential Growth, Challenges 2025
Global 3D Printing in Automotive Market is valued at USD 1.97 Billion in 2018 and expected to reach USD 7.22 Billion by 2025 with the CAGR of 20.37% over the forecast period.
Increasing demand from the automakers to shorten their product development phase, reduce prototype costs, and improve efficiency is expected to drive the market growth.
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Key players profiled in the report include 3D Printing in Automotive Market are,
- 3D Systems, Inc
- Stratasys Ltd
- Arcam AB
- EnvisionTEC Inc
- Voxeljet AG
- Local Motors
- Ponoko Ltd
- Optomec, Inc
Scope of the Report:
3D printing in automotive is an ability to create or customize the automotive parts that are perfect for one-off productions. 3D printing technology in automotive sector has potentially decreased the cost of product development as well as it also strengthens the quick prototyping in the pre-manufacturing stage. All these major advantages of 3D printers in automotive design helps manufacturers in order to boost the efficiency, cost reduction and prototyping that have resulted to be most popular technology. 3D printers are used to create complex parts, speeding up tooling cycles, enhancing measurement and providing customization solutions during the vehicle development process. This technology not only helps to transform the aesthetic design of vehicles but also has the ability to deliver working prototype in optimum turnaround time. 3D printing in automotive design enabled the new innovation, creativity and limitless possibilities that bring transportation landscape into a remarkable level. It significantly reduces the cost and development time of prototyping and manufacturing of functional, durable and rigid parts by excluding the need for additional tooling and assembly.
Global 3D printing in automotive market report is segmented on the component, application and regional & country level. Based upon component, global 3D printing in automotive market is segmented into technology (stereo lithography, SLS, EBM, FDM, LOM, others), material (polymers, metals & alloys, others) and services. Furthermore, based upon application, global 3D printing in automotive market is segmented into prototyping & tooling, R&D and innovation and manufacturing complex products.
The regions covered in this Global 3D Printing in Automotive Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Global 3D Printing in Automotive market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Some major key players for global 3D Printing in Automotive market are Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc and others.
Increasing Need for Rapid Prototyping and Vehicle Weight Reduction across the Automotive Industry are Anticipated to Witness a High Growth of 3D Printing in Automotive Market.
3D printing in automotive is anticipated to experience a huge demand with the rapid increase of automotive industry. Automotive industry has always been finding the ways for faster prototyping and efficient solutions that can able to reduce automotive part weight coupled with structural strength. 3D printing has gaining a huge attention of worldwide customers, automakers and designers due to its robust functionality and drives lower consumption and wastage. For example; in 2018, leading German automobile manufacturer Audi announced that its pre series center and 3D Printing Center in Ingolstadt has adopted Stratasys 3D printing methods. According to Audi, by 3D printing it is possible to achieve prototyping lead time reductions by up to 50 % for certain parts with full-color, multi-material printing capabilities. In addition to this, the technological advancements in 3D printers enable the organizations to attempt the best alternative that derive the most ideal and effective design features.
The 3D printing market is set to achieve the double size with the annual growth rate between 18.2% and 27.2%. However, in automotive 3D printing the cost of materials is higher than the raw materials used by the traditional equipment, current speed cannot match the production volume requirements and lack of human capital can turn into major restraining factors of this market. Moreover, the consistent advancements in 3D printing have opened the new doors to reproduce aftermarket parts for restoring classic cars.
North America is Expected to Dominate the 3D Printing in Automotive Market.
North America holds largest share for 3D printing in automotive and is expected to continue the same during the forecast period. North American auto industry increasingly focusing on to derive the new capabilities in advanced technologies coupled with the government support for the vehicle weight reduction. This has lifted the growth of entire 3D printing technology in automotive industry in this region. European automotive manufactures reconsiders the significance of 3D printing as a key technology to build the manufacturing competitive advantages in automotive industry. For example; Volkswagen, German based leading automotive manufacture focusing on enhancing operations with 3-D printing for creating tooling, jigs and fixtures, larger machines.
Key Benefits for Market Report–
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
3D Printing in Automotive Market Segmentation:–
By Component: – (Technology, Stereo lithography (SLS, EBM, FDM, LOM, Others), Material (Polymers, Metals & Alloys, Others), Services)
By Application:- Prototyping & Tooling, R&D and Innovation, Manufacturing Complex Products
By Regional & Country Analysis
North America, US, Mexico, Chily, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, South Korea, Japan, India, Southeast Asia, Latin America, Brazil, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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