3D Printing
in the Automotive Market Overview
The study
documents by MRFR state that the 3D
Printing in Automotive Market Research Report Information by Technology,
Region, and Application - Forecast Till 2030, the 3D Printing in the Automotive
market is predicted to expand substantially during the evaluation era from 2022
to 2030 at a sizable CAGR of closely 15.94%. The study documents suggest
projections related to the global market's mounting revenue data, which will
likely attain a market of USD 9.7 Billion by the end of 2030. As per the
reports, the market was priced at almost USD 2.97 Billion in 2022. 3D Printing
in Automotive has flourished rapidly in the past few years, ascribing to
several vital aspects.
The main
parameter causing a rise in the performance of the global market is the
increasing research and development activities and innovations empowering the
automotive industry worldwide. Furthermore, the growing focus on lightweight
vehicles to decrease fuel consumption and low emissions, giving rise to huge
capital investment in automotive technology by several manufacturers across the
globe, is also projected to positively impact the growth of the global market
over the coming years. In addition, the R&D activities, 3D Printing in
automotive, has gained a fast pace and gaining attention in the automotive
industry.
Competitive
Analysis
·
Autodesk
·
EnvisionTEC,
Inc
·
3D
Systems, Inc,
·
Exone
·
Stratasys
Ltd
·
Voxeljet
AG
·
Arcam
AB
·
Ponoko
Ltd
·
Local
Motors
3D Printing in
Automotive has flourished rapidly in the past few years, ascribing to several
vital aspects. The main parameter causing a rise in the performance of the
global market is the increasing research and development activities and
innovations empowering the automotive industry worldwide. Furthermore, the
growing focus on lightweight vehicles to decrease fuel consumption and low
emissions, giving rise to huge capital investment in automotive technology by
several manufacturers across the globe, is also projected to positively impact
the growth of the global market over the coming years. In addition, the R&D
activities, 3D Printing in automotive, has gained a fast pace and gaining
attention in the automotive industry.
On the contrary, various aspects may have a
hostile effect on expanding the global market for 3D Printing in Automotive.
One of the main restraints in advancing the market's growth is the elevated
prices allied with raw materials.
Segment Analysis
The global 3D Printing in the Automotive
market is divided into Technology, Region, and Application segments.
The global 3D Printing in the Automotive
market is divided into Laminated Object Manufacturing, Electron Beam Melting,
Laser Sintering, Stereolithography (SLA), and Others based on technology.
Based on Application, global 3D Printing in the
Automotive market is divided into R&D Activities, Manufacturing,
Prototyping & Tooling, and Others.
The study documents by MRFR entail that The North American Region ensured the prime position
across 3D Printing in the Automotive market in 2022. The area is recognized for
dynamic development contributors such as Mexico, Canada, and the U.S. The
primary aspect boosting the development of regional 3D Printing in the Automotive
market is the large number of OEM manufacturers who invest a considerable
portion of their revenue in research & development.
The European Region is estimated to hold the second
position across 3D Printing in the Automotive market over the assessment era.
The area is recognized for dynamic development contributors such as Germany,
France, and the U.K. The primary aspect boosting the development of regional 3D
Printing in the Automotive market is the growing investment in 3D Printing
to manufacture customized automotive parts to achieve lower manufacturing
costs, shortened turnaround time, enhanced production rate, reduced material
waste, and shorter overall times for quick prototyping of automotive parts. In
addition, given the lowering price of 3D printers, the vital manufacturing
regions of Europe are still in the early stages of automotive 3D printing
adoption.
The Asia-Pacific
region will grow at the maximum CAGR across 3D Printing in the Automotive
market from 2023 to 2032. The area is recognized for dynamic development
contributors such as China, India, and Indonesia. The primary aspect boosting
the development of regional 3D Printing in the Automotive market is the launch
of many start-ups' entrance into the market. Furthermore, factors such as
low-cost raw materials, skilled labor availability, government efforts, and a
developed chemical industry are also likely to boost the regional market's
growth over the coming years.
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