3D Printing Market in Automotive industry Exhibits 28.72% CAGR To Reach the worth of USD 4.89 billion by 2027 | Stratasys, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG

3D Printing in Automotive Market is projected to be worth USD 4.89 billion by 2027, registering a CAGR of 28.72% during the forecast period (2021 – 2027), The market was valued at USD 1.61 billion in 2020.

3D Printing in Automotive Market Overview

3D printing technology is aiding the automotive industry by providing functional prototype phases, designs, part manufacturing and tools production. The 3D Printing in Automotive Market expeditious development in 3D printing technology for widening the application range of 3D printed materials is creating large opportunities for the expansion of the global 3D printing in automotive market. The use of 3D printing technology in automotive industry has aided the production of more complex designs which was inconvenient through the conventional methods. The short time span required for production of 3D printed parts as compared to the conventional production methods has cut down the manufacturing cost and fastened the production process in the automotive industry.

The increasing focus on introducing innovative and efficient printing materials to provide lightweight spare parts, reducing material wastage and lowering the turnaround time is driving the expansion of the global 3D printing in automotive market. The increasing government support for research and development in 3D printing technology is likely to impact positively on the growth of the global 3D printing in automotive market.

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Globally Major key Players accelerates the 3D Printing in Automotive Market are,

• Autodesk
• 3D Systems Inc
• Stratasys Ltd
• Arcam AB
• EnvisionTEC Inc
• Exone
• Voxeljet AG
• Local Motors
• Ponoko Ltd
• Optomec

Most important Segments of 3D Printing in Automotive market covered in this report are,

The global 3D printing in automotive market has been segmented on the basis of technology, material and application. Based on technology, the 3D printing in automotive market is segmented into stereolithography (SLA), laser sintering, electron beam melting, laminated object manufacturing and others. Among these, the stereolithography (SLA) accounts for the largest market share in the global 3D printing in automotive market.

Based on material, the 3D printing in automotive market is segmented into metal, alloys and others. Based on application, the 3D printing in automotive market is segmented into prototyping and tooling, manufacturing, research and development activities, and others.

3D Printing in Automotive Industry Influence of the global market report:

• Comprehensive assessment of all opportunities and risks in the 3D Printing in Automotive Market.
• 3D Printing in Automotive Market recent innovations and major events.
• A detailed study of business strategies for the growth of the 3D Printing in Automotive Market market-leading players.
• Conclusive study about the growth plot of 3D Printing in Automotive Market for forthcoming years.
• In-depth understanding of 3D Printing in Automotive Market, market-particular drivers, constraints, and major micro markets.
• Favorable impression inside vital technological and market latest trends striking the 3D Printing in Automotive Market.

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The global 3D Printing in Automotive market during the period has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as CEOs VPs, directors, and executives. Finally, the global market breakdown and data triangulation procedures have been employed to complete the overall market engineering processes and functions and hence, arrive at the exact statistics for all segments and subsegments.

Regional Analysis

Geographically, the global 3D printing in automotive market is segmented into four major regions such as North America, Asia Pacific, Europe and the rest of the world. Among these, the Europe region accounts for the largest market share in the global 3D printing in automotive market owing to the presence of large number of automotive manufacturers that are inclining towards the incorporation of 3D printing technology in the manufacturing process in this region.

The 3D printing in automotive market in the North America and Asia Pacific regions is growing significantly, owing to the rapid technological advancement in the field on 3D technology and brisk development in the automotive industry in these regions.

The constant development in the 3D printing technology for widening the application range of 3D printing technology is fueling the expansion of the 3D printing in automotive market in the rest of the world.

3D Printing in Automotive market demonstrates a high growth potential which is likely to attract many entrants to the market resultantly, intensifying the competition further. Manufacturers strive to develop innovative materials, and best practices. Incorporating acquisition, collaboration, partnership, and expansion the well-established players gain the competitive advantage to maintain their market position. Also, they make substantial investments in manufacturing & expansion program. Expansions help in reducing logistic cost and increase production capacities and potential to fetch larger turnovers.

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