Automotive 3D printing Market by Component (Technology, Material, and Services) and Application (Prototyping & Tooling, R&D and Innovation, and Manufacturing Complex Products) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Additive manufacturing or 3D printing allows manufacturers to produce objects using a digital file and wide array of printing materials. Automotive sector, besides aerospace & defense, healthcare, and manufacturing industries, exhibits growth in adoption of the technology. The technology is useful for applications ranging from printing car parts and accessories to manufacturing complex parts in less time as compared to traditional printers. The automotive companies adopt this technology at a remarkable rate in an effort to reduce the manufacturing costs, increase production rate, and lower the material wastage. The 3D printing technology has redefined the process of designing, developing, and manufacturing products in the automotive industry. The technology is being used for producing lighter and complex parts & accessories at reduced costs. Automotive part manufacturers are using 3D printers for effective usage of materials, reducing the lead time, and efficient logistics management. However, lack of skilled labors and high cost of 3D printers restrict the demand for 3D printers to some extent.
The automotive 3D printing market is segmented based on components, applications, and region. The components segment is further classified into technology, materials, and services. Based on technology, the automotive 3D printing market is divided into stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing, and others. These technologies follow additive manufacturing process in which a model is built by adding successive layers of material. Among these technologies, stereolithography is expected to play the most prominent role since it has revolutionized the speed and techniques of designing and manufacturing objects, thereby benefiting various industries significantly. Based on input materials, the 3D printing material market is segmented into polymers, metals and alloys, ceramic, and others. Polymers are most extensively used 3D printing materials in the current scenario. Based on applications, the automotive 3D printing market is segmented into prototyping and tooling, R&D, and innovation and manufacturing of complex parts. Based on geography, the market is divided into North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). Currently, North America is leading the global market followed by Europe and Asia-Pacific. Key players profiled in the report include 3D Systems, Inc., Autodesk, Inc., Stratasys Ltd., Arcam AB, The ExOne Company, Hoganas AB, Optomec, Inc., Voxeljet AG, Ponoko Limited, and Envisiontec, Inc.
KEY BENEFITS FOR STAKEHOLDERS
This study includes the analytical depiction of the global automotive 3D printing market along with current trends and future estimations to determine the imminent investment pockets.
The report presents information regarding key drivers, restraints, and opportunities.
The current market is quantitatively analyzed from 2016 to 2023 to highlight the financial competency of the industry.
Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the automotive 3D printing industry.
KEY MARKET SEGMENTS
Metals & Alloys
Prototyping & tooling
R&D and innovation
Manufacturing complex products
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