Global 3D Printing in Automotive Market is valued at USD 1980.8 Million in 2021 and is expected to reach USD 9334.o Million by 2028 with a CAGR of 24.8% over the forecast period.
3D printing in automotive is an ability to create or customize automotive parts that are perfect for one-off productions. 3D printing technology in the 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 help manufacturers in order to boost the efficiency, cost reduction, and prototyping that have resulted to be the most popular technology. 3D printers are used to create complex parts, speed up tooling cycles, enhance measurement and provide 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 a working prototype in optimum turnaround time. 3D printing in automotive design enabled the new innovation, creativity, and limitless possibilities that bring the transportation landscape to 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 an automotive market report is segmented on the component, application, and regional & country level. Based upon components, global 3D printing in the automotive market is segmented into technology (stereolithography, SLS, EBM, FDM, LOM, others), material (polymers, metals & alloys, others), and services. Furthermore, based upon application, global 3D printing in the 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 the Rest of the World. On the basis of country level, the market of Global 3D Printing in Automotive market is subdivided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key players profiled in the report include 3D Printing in Automotive Market are,
3D printing in automotive is anticipated to experience a huge demand with the rapid increase of the automotive industry. The automotive industry has always been finding ways for faster prototyping and efficient solutions that can able to reduce automotive part weight coupled with structural strength. 3D printing has gained the 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 organizations to attempt the best alternative that derives the most ideal and effective design features.
The 3D printing market is set to achieve double size with an 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 new doors to reproduce aftermarket parts for restoring classic cars.
North America holds the largest share for 3D printing in automotive and is expected to continue the same during the forecast period. North American auto industry increasingly focuses on deriving the new capabilities in advanced technologies coupled with the government support for vehicle weight reduction. This has lifted the growth of entire 3D printing technology in the automotive industry in this region.
European automotive manufacturers reconsider the significance of 3D printing as a key technology to build the manufacturing competitive advantages in the automotive industry. For example; Volkswagen, a German-based leading automotive manufacturer focusing on enhancing operations with 3-D printing for creating tooling, jigs, fixtures, larger machines.
On 3D Printing In Automotive Market Report is also available for the below Regions and Country:
The Middle East and Africa
|2015 - 2020
|2021 - 2028
|Market Size in 2021:
|USD 1980.8 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 9334.o Million
|Tables, Charts & Figures:
|3D Printing in Automotive Manufacturers
|Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc, Others
|By Component, By Application
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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