3D
printing is significantly transforming the way automobiles are
designed and developed. This technology is being adopted by the
automotive industry in order to lower turnaround time, reduce
material wastage, lower manufacturing costs and increase the
production rate. 3D printing not only helps to give an aesthetic
design to the automobile, but it also delivers working prototype in a
record turnaround time. 3D printing technology is useful for
applications that range from manufacturing complex automotive parts
in a shorter span of time in comparison to conventional printers to
printing these parts and other accessories. The global automotive 3D
printing market is primarily being driven by reduction in overall
time of rapid prototyping of automotive parts, innovation in new
printing materials for 3D printing and increasing government
investments in the research & development project related to 3D
printing. However standardization issues, high cost and limited
availability of 3D printers coupled with lack of skilled labor are
the factors that are restraining the widespread adoption of this
technology in the automotive industry.
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The global automotive 3D printing market can be segmented on the
basis of technology, material, application and region. Based on
technology the global market can be segregated into
stereolithography, electron beam melting, three dimensional inkjet
printing, fused disposition modeling, laser sintering and laminated
object manufacturing. Stereolithography is expected to hold the
dominant share of the global market throughout the forecast period,
owing to the superior techniques and enhanced speed offered by this
technology to design and manufacture automotive parts. However, laser
sintering and fused disposition modeling are also expected to gain
popularity in the coming years. By material, the market can be
trifurcated into metal & alloy, polymer and others. The most
preferred material for 3D printing is polymer because of its strength
and flexibility. However, the demand for metals for automotive 3D
printing is expected to gain traction in the coming years, as the
components which need to withstand high pressure and temperature can
be developed deploying 3D printers which use metals at the printing
material.
The global automotive 3D printing market can be additionally
segregated by application into prototyping and tooling, R&D and
innovation and manufacturing complex parts. In the automotive
industry, the primary function of 3D printing is prototyping and
tooling, owing to which this application area is west to acquire the
largest market share. 3D prototyping and tooling helps to reduce
additional costs associated with outsourcing tasks and overall
product manufacturing time. Furthermore, the market can be classified
geographically into North America, Europe, Asia Pacific, South
America and Middle East and Africa. North America represents the
largest market for automotive 3D printing globally, primarily due to
the early adoption of this technology. However, the major automotive
producing regions of Europe and Asia Pacific markets which are still
at the nascent stage in automotive 3D printing adoption are expected
to record higher growth rates than North America during the period of
forecast, driven by the declining price of 3D printers.
The global automotive 3D printing market report provides the market
share analysis of the key industry participants operating in the
industry. These players have been exhaustively profiled and their
business overview, financial overview, business strategies and recent
developments have been covered under the purview of the report. The
global market is dominated by a few major players and the key
strategies adopted by them include expansion, mergers &
collaborations and new product development. Some of the major players
operating in the global automotive 3D printing market include Optomec
Inc.,3D Systems Corporation, Ex One, Arcam AB and Stratasys, Ltd.,.
Other players operating in this market are Autodesk, Inc., Hoganas
AB, Ponoko Ltd, Voxeljet AG and Local Motors among others.
The report offers a comprehensive evaluation of the market. It does
so via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
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