Global 3D Printing Automotive Market is expected to grow at CAGR of 21.8% during the forecast period of 2016-2024. The share of various industries in the 3-D printing market is as given in the below table.
Global 3D Printing Automotive Market
While automotive original equipment manufacturers (OEMs) and suppliers predominantly use Additive Manufacturing (AM) for rapid prototyping, the technical course of AM makes a solid case for its usage in product innovation and mass production in the future. As compared to traditional manufacturing processes AM can produce components with fewer design restrictions making it flexible enough to manufacture products with custom features and complex geometries. Furthermore lower handling cost, as well as lower inventory cost, decentralized production, a wider range of amenable materials, improved product quality and reduced post-processing, are some other compelling driving forces to opt for this technology over traditional ones.
Looking at the restraints for the growth of Global 3D Printing Automotive Market one cannot ignore the inability of AM when it comes to mass production. Also manufacturing large parts, standardization issues, high cost, low availability of 3-D printers and lack of skilled labors are the present hindrances in the path of this flourishing technology. In spite of all these constraints, with the current advances, AM has been instrumental in bringing newer designs; cleaner, lighter, and safer products; shorter lead times and lower costs.
Major leading automakers e.g. Ford, Mercedes-Benz is adopting AM technology to produce essential machine parts, which is a key factor behind the growth of Global 3D Printing Automotive Market. A fully 3-D printed car has become a reality today. Say, If the world is on the verge of the next industrial revolution, then, for sure, AM has a decisive and pivotal role to play.
As per our research analyzing numerous data sources, it can be confidently concluded that global automotive 3D printing market is expected to reach $3547 million by 2024, from 2016 value of $732 million, growing at a rate of 21.8%. The growth trajectory of Global 3D Printing Automotive Market is as shown in the following graph.
The scope of the Report:
Global 3D Printing Automotive Market, By Technology:
Stereolithography,
Selective laser sintering
Melting
Fused deposition modeling.
Laminated object manufacturing
Electron beam melting
Three-dimensional inkjet printing
Fused disposition modeling
Others.
Global 3D Printing Automotive Market, By Input Materials:
Polymers
Metals and alloys
Ceramic
Others
Polymers are most extensively used 3D printing material in the current scenario
Global 3D Printing Automotive Market, By Applications:
Prototyping and tooling
R&D
Innovation
Manufacturing of complex
Customized Designs
Complex Geometries
Global 3D Printing Automotive Market, By Geography:
North America.
Europe.
Asia-Pacific.
Latin America.
Middle East and Africa.
Research Methodology:
Bloomberg, Deloitte are some of the sites in addition to International Journal of Mechanical and Production Engineering, 2017 that are being referred to gain insights about global additive manufacturing in automotive. Data triangulation techniques in addition to other comparative analysis were carried out between various secondary sources. The data points have been obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. While taking interviews, KOLs from both demand and supply side were taken into consideration to minimize the bias. The bottom-up approach was used during collecting and analyzing the data points thus to comprehend micro-level as well as macro-level scenario vividly.
Key players of the Global 3D Printing Automotive Market:
Arcam Ab
Autodesk
Chizel Prints Manufacturing Pvt. Ltd
Concept Laser
Envisiontec Inc.
Eos GmbH
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