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The automotive 3D printing is a process that digitally produces three-dimensional objects using a printing machine. This process continuously lays down layers of material to make a complete object. 3D printing is transforming the world of the automotive industry. In recent times, the automotive sector is inclining more towards cost efficiency, ways to reduce manufacturing time, adopt new technology. Also, the OEMs are investing heavily in the research and development of materials used for printing and adopt high-resolution 3D printing machines. All these factors are leading to the growth of the automotive 3D printing market.
Globally, the rise in urbanization, high standard of living, and increased demand of customers are leading to an increase in the automotive industry. Furthermore, the adoption of advanced technology, less time required to manufacture intricate designs, low cost of raw materials, innovation in printing methods an also investment of government to develop new technology is driving the growth of the market. However, the lack of skilled laborers and high printing costs may hamper the growth of the market.
Key Market Driver -
Rising popularity of the 3D printing technology, time and cost efficiency and high accuracy are expected to drive the growth in the market during the forecast period
Key Market Restraint -
Lack of skilled labours, and high printing cost may hamper the growth of the market in the forecast period.
The global automotive 3D printing market has been segmented into technology type, material type, application type, and geography. By technology type, the market is further segmented into Electronic Beam Melting, Selective Laser Sintering, Digital Light Processing, Fused Disposition Modelling, Selective Laser Printing, and Stereo Lithography. Stereo Lithography holds the largest market share of the global automotive 3D printing market and is expected to dominate in the forecast period. This technology uses various types of materials, simultaneously if needed, and produces high-resolution three-dimensional objects with greater precision, superior techniques, and high speed. However, selective laser sintering and fused disposition modeling are also expected to gain a high market share in the forecast period. By material type, the polymer material type is widely used as compared to the other two materials owing to the flexibility and strength, lightweight, and low cost of the material. The metal alloys are also growing at a significant rate owing to its anti-corrosive property. By application type, the market is further divided into prototyping, production, innovation, and R&D. In the automotive industry, prototyping is a majorly used application owing to its time-efficient nature.
The major companies in the global 3D printing market include 3D Systems Corporation, Stratasys Ltd., Arcam AB, EnvisionTEC, Ponoko Limited, The ExOne Company, Autodesk Inc., Hoganas AB, Optomec, Inc., Voxeljet AG among others.
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Geographically, the automotive 3D printing market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America holds the largest market share of the global automotive 3D printing market. The rapid adoption of this technology, massive investment in the research and development by the manufacturers, the presence of top automotive players in this region are propelling the growth of this market. However, Asia Pacific is anticipated to rise rapidly in the automotive 3D printing market in the forecast period owing to high vehicle manufacturing rate, increased disposable income of the region, development in the chemical industry, low cost of raw materials, and cheap workforce available. All these factors are expected to boost the automotive 3D printing market in the coming years.
By Technology Type
By Material Type
By Application Type
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