Global Automated 3D printing Market is projected to be valued $3.6 Billion by 2024; with a CAGR of 21.6% from 2017 to 2025. 3D printing technology is very versatile. It is often used for engineering prototypes and tools for manufacturing processes. The automotive industry has incorporated 3D printing throughout all processes and functions; from the design concept to near-end-of-life repairs. It enables faster production process of individual parts and prevents loss during a normal production process.3D printing also assists in customizing features including fancier geometries and light weight lattice structures and also offers much more variety to the ever-growing customer base.
Upsurge in the use of 3D printing technologies among industries such as government & automobile industries and rising demand for improved automotive designs with innovations are the factors supplementing the growth of the market. However, high implementation cost of this technology and lack of accuracy are the major hindrances for the growth of the market. Moreover, 3D printing also helps in customizing features including fancier geometries, light weight lattice structures, and others, and also offers much more variety for the growth of customer base to develop customized tools and reduce overall time which would provide several growth opportunities for the market in the coming years.
The global automotive 3D printing market is bifurcated on the basis of component, application, and geography. Component type is segmented as material (metals & alloys, polymers, and others), technology (fused deposition modeling, stereo lithography, laminated object manufacturing, selective laser sintering, electron beam melting, and others), and services. Furthermore, application is bifurcated as manufacturing complex parts, prototyping & tooling, and R&D & innovations.
Geographically the global automated 3D printing market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, India, Japan, South Korea, and others. RoW covers South America, Middle East and Africa.
Major Key players operating in the global market include Voxel jet AG, The ExOne Company, and StratasysInc, Arcam AB, 3D Systems Corporation, Hoganas AB, Autodesk, Inc., Optomec, Inc., Envision TEC, Inc. and Ponoko Limited, among others.
The key takeaways from the report
Scope of the Global Automotive 3D Printing Market