Automotive 3D Printer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Automotive 3D Printer Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

The global automotive 3D printer market is anticipated to grow at a formidable CAGR in the forecast period, 2024-2028. High-end investments for the up gradation of existing infrastructure in the automotive industry and research and development activities, and the need to find technologies to eliminate the chances of error are expected to drive the global automotive 3D printer market demand.

The booming automotive industry worldwide due to the increased purchasing capacity of consumers and the improvements in the living standards is generating the need to adopt advanced technologies to stay ahead in the market. Global automotive 3D printer market is expected to witness sales of around 634.22 thousand units. Advent and implementation of 3D printing or additive manufacturing in automobile manufacturing are expected to revolutionize the automotive industry. Advancements in 3D printing technology led to the introduction of lighter, stronger, robust, and safer designs with lower lead times and costs. Automobile original equipment manufacturers and suppliers actively use the 3D printing technology for product innovations and rapid prototyping to eliminate the expenses incurred in production and testing processes.

Ongoing Technological Advancement Supports the Market Growth

Automobile manufacturers are making significant investments to improve the overall functioning of vehicles and integrate advanced components and features to enhance convenience and comfort while driving the vehicle. Manufacturing complex designs using conventional methods is a difficult task which is the main reason automobile manufacturers are constantly looking for solutions and technologies which could lower the cost and simplify the overall designing and manufacturing process. The 3D printers provide a platform for creating, manufacturing, and designing automobile parts per user specifications. The design's implementation and practicability can be tested using 3D printing technology. It helps analyze the expected shortcomings at the initial stage, allowing automobile manufacturers to save unnecessary costs in the production process. The rapid adoption of novel technologies by market players and in-house 3D printing technology innovations is expected to influence the automotive 3D printer market demand.

Growing Awareness of Using 3d Printing Technology

3D printers are highly accurate in producing results of desired objects.3D printing technology is adopted by automotive manufacturers as it helps realize the mistakes in the early stages of manufacturing. 3D printing technology helps to merge complex design and operational resources. The materials used in the process are effectively utilized, and it ensures not to waste materials in unwanted spaces. The traditional way of manufacturing utilizes large volumes of material as it uses the subtractive technique for product manufacturing. 3D printing makes the use of additive manufacturing process, which involves layer-by-layer deposition of the materials. The need to lower waste and effective material utilization is expected to drive the demand for the global automotive 3D printer market in the forecast period. The United States is expected to witness substantial growth in the global automotive 3D printer market. In United States alone, around 65.40 thousand units were sold in 2020. It witnesses huge automobile sales and tends to utilize advanced technologies to lower operational and maintenance costs during the automobile manufacturing process.

Market Segmentation

The global automotive 3D printer market is segmented on the basis of technology, application, regional distribution, and company. Based on the technology, the global automotive 3D printer market is divided into stereolithography, fused disposition modelling, selective laser sintering, laminated object manufacturing, three dimensional inject printing and others. Based on the application, the global automotive 3D printer market is divided into prototyping & tooling, manufacturing complex components, research, development & innovation, and others. To analyze the market based on the region, the global automotive 3D printer market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa.

Market Players

3D Systems Corp., Formlabs Inc., Markforged, Inc., Zortrax S.A., Ultimaker BV, are among the major market players in the global platform that lead the market growth of the global automotive 3D printer market.

Report Scope:

In this report, global automotive 3D printer market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Automotive 3D Printer Market, By Technology:
• Stereolithography
• Fused Disposition Modelling
• Selective Laser Sintering
• Laminated Object Manufacturing
• Three Dimensional Inject Printing
• Others
• Automotive 3D Printer Market, By Application:
• Prototyping & Tooling
• Manufacturing Complex Components
• Research, Development & Innovation
• Others
• Automotive 3D Printer Market, By Region:
• North America
• United States
• Canada
• Mexico
• Asia-Pacific
• China
• India
• Japan
• Malaysia
• Thailand
• Indonesia
• Vietnam
• South Korea
• Europe & CIS
• Germany
• France
• United Kingdom
• Spain
• Italy
• Belgium
• Russia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• UAE
• Saudi Arabia
• Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global automotive 3D printer market.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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