Automotive 3D Printing Market
The Automotive 3D Printing Market is estimated to expand at a CAGR of 21.7% over the forecast period (2021-2028).
The factors driving the growth of Automotive 3D Printing Market includes are emerging need to reduce vehicle’s weight and production cost, growing demand for customized automotive parts, strict regulations imposed by Governments to reduce the carbon emissions and increasing use of 3D printed components in the premium vehicles. According to the report published by Statista, the Global Luxury Cars Market is anticipated to reach USD 19,260 million by the end of 2022, expanding at a CAGR of 1.81% over the forecast period (2022-2026), which will boost the Automotive 3D Printing Market share in the approaching years. Moreover, the Government initiatives to boost the manufacturing of automobiles, increasing investments by the leading players on research and development, growing popularity of electric cars and autonomous vehicles and rising use of 3D printing for quick prototyping, are further contributing to the market growth.
The prominent players operating in the market are Hoganas AB, Optomec, Inc, Ponoko Inc, General Electric, Autodesk Inc., Envisiontec,Inc., 3d Systems, Inc., Stratasys Ltd., ExOne. and Voxeljet AG, among others.
However, the growth of Automotive 3D printing is hindered attributed to issues to related to material availability and high cost of printing.
Technology Type – Segment Analysis
Based on Technology, the Stereolithography segment is predicted to expand at a remarkable CAGR during the forecast period attributed to its increasing application in making car interior and car body parts.
Material Type – Segment Analysis
Based on Material Type, the Polymers segment is anticipated to grow at a significant CAGR over the forecast period. The polymers flexible and comparatively lighter than some metals along with is high mechanical and thermal resistance properties, are some of the factors responsible for the growth of the segment.
Regional – Segment Analysis
Based on Region, the North American region is expected to capture the largest market share during the forecast period. The growing adoption of 3D printing technologies by the leading car manufacturers in the United States, rise in additive manufacturing, Government polies to boost the car manufacturing, high per capita incomes, and improved living standards, are some of the important factors augmenting the Automotive 3D Printing Market size in North America.
Global Automotive 3D Printing Market by Technology Type
Global Automotive 3D Printing Market by Material Type
Global Automotive 3D Printing Market by Application
Global Automotive 3D Printing Market by Region
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