According to an Market Research Future report titled, “3D Printing in Automotive Market by Technology, Material, Application, Region: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global 3D Printing in Automotive Market is projected to reach at US$ 2512.3 million by 2023, growing at a CAGR of 26.02% from 2017 to 2023.
Increasing research and development activities and innovations is strengthening the automotive industry worldwide. With a huge capital investment in automotive technology, several manufacturers are focusing on light weight vehicles to decrease the fuel consumption and low emission. Among all the R&D activities, 3D printing in automotive has come up with a rapid pace and gaining attention in the global automotive industry.
Over the past few years, the precedence of 3D printing in automotive has gained a positive impression among the manufacturers due to its several driving factors such as light weight body material, increasing investment, huge spending on research and development and technological innovations. Due to these driving factors, the global market for 3D printing in automotive industry is increasing at a rapid pace with a surge in demand. Moreover, the manufacturers such as Local Motors, Honda and others have released several 3D printed cars and those cars had gained a much attention in the global market. This types of moves in the automotive industry boost the value in the market. As per MRFR analysis, the global market for 3D printing in automotive is expected to reach USD 2,512.3 million by 2023 with a CAGR of 26.2%.
The prominent players in the 3D printing in automotive market include Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc and among others.
Market Research Analysis:
As per MRFR analysis, the global 3D printing in automotive market is likely to grow at a CAGR of 26.2% during the forecast period, where the market value is expected to reach USD 2,512.3 million by 2023. Over the years, it has been analyzed that the automotive industry has come up with numerous technological advancements which has reduced the manufacturing and production cost as well as low maintenance cost have boosted up the demand.
Scope of the Report:
This study provides an overview of the global 3D printing in automotive market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global 3D printing in automotive market by its technology, material, application, and regions.