Market Research Report
Global 3D Printing Automotive Market Research Report, Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||619929|
|Published||Content info||190 Pages
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|Global 3D Printing Automotive Market Research Report, Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: March 13, 2018||Content info: 190 Pages||
Global 3D printing automotive market is expected to grow at CAGR of 26.6% during the forecast period of 2016-2023. 3D printing technology, also called as additive manufacturing (AM), is the process which is used to create a 3D object. In this, layers of material are formed through computer control to create an object. Use of multiple materials for printing, reduction of material wastage, and reduction in costs & time of rapid prototyping are the factors which are driving the market. However, limited availability, high cost, & standardization issues of 3d printing materials and lack of standardized process control are restraining the market growth. Furthermore, delivering various innovation opportunities and untapped markets for 3D printing applications are creating new opportunity for the market during the forecast period.
Geographically, North America dominates global 3D printing automotive market for the forecast period 2016-2023. Factors such as the declining price of 3D printers, early adoption of technology in the region is driving the market. Asia pacific in automotive 3D printing adoption is expected to record the fastest growing region for the market during the forecast period.
3D printing automotive market segments are classified as technology, material and application. On the basis of technology, 3D printing automotive market segment is divided into stereolithography (SLA), Laser Sintering, Electron Beam Melting (EBM), Fused Disposition Modelling (FDM), Laminated Object Manufacturing (LOM), Three-Dimensional Inkjet printing (3IDP) and others. Stereolithography (SLA) is dominating the market, whereas laser sintering and fused disposition modelling are expected to grow with the highest CAGR during the forecast period. On the basis of application, market is classified as prototyping and tooling, R&D and innovation, manufacturing complex products and other applications. Prototyping and tooling is dominating the market. On the basis of material, market is classified as metal & alloy, polymer and others. Polymer is dominating the market segment and metal is expected to grow with the highest CAGR during the forecast period.
The growth in global 3D printing automotive market is also influenced by the presence of major players, such as 3D Systems Corporation, Autodesk, Arcam AB, Stratasys Inc., Voxeljet AG and others. Product launches, merger & acquisition, partnership, joint venture are some crucial strategies adopted by the major players to gain competitive advantage. Moreover, the automakers such as Elan Motorsports Technologies, Daimler Trucks, EGR, Confederate Motors, Honda and Koenigsegg have fully adopted the 3D printing technology for their automotive production.