Market Research Future Insights
According to MRFR analysis, global 3D Printing in the Automotive market is expected to register a CAGR of ~ 28.72% from 2022 to 2030 and hold a value of over ~USD 7 Billion by 2030.
Increasing research and development activities and innovations are strengthening the automotive industry worldwide. Among all the R&D activities, 3D printing in automotive has come up at a rapid pace and gaining attention in the global automotive industry. The COVID-19 pandemic has caused a lot of uncertainty in the automotive 3D printing market. Supply chains have been disrupted, business confidence is falling, and customers are panicking. Governments have announced lockdowns and shutdowns of industries, which has hurt production and sales.
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Regional Analysis
The European automotive 3D printing market is expected to grow in the coming years, driven by the increasing production of electric and autonomous vehicles. Europe’s strong R&D landscape and technological excellence create an ideal environment for the use of additive manufacturing for the development of prototypes, tooling, and production components. Additionally, the advent of autonomous cars and the development of an electric transportation system for buses and trucks will further contribute to market growth.
Market Segmentation
The global 3D Printing in the Automotive market has been segmented into technology and application.
Based on technology, the market has been segmented into Stereolithography (SLA), Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, and Others. The stereolithography (SLA) segment is expected to witness significant growth in 3D printing in the automotive market. This technology uses a laser to cure photopolymer resin and create 3D objects. SLA offers high accuracy and resolution, which makes it ideal for creating prototypes and small batches of parts. Moreover, it is a relatively fast process, which is expected to drive its adoption in the automotive industry.
Based on application, the market has been segmented into Prototyping and Tooling, Manufacturing, R&D Activities, and Others. The prototyping and tooling are growing due to the quick production of the prototype, cost reduction, and reduced wastage.
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Key Players
Some of the key market players are Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec.
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