Automotive 3D Printing Market - Forecasts from 2019 to 2024

The automotive 3D printing market is projected to grow at a CAGR of 29.07% to reach the market size of US$10.364 billion by 2024 from US$2.241 billion in 2018. The rising adoption of 3D printing technology in the automotive sector for prototyping and tooling applications in order to reduce the costs and turnaround times for making the prototypes is one of the major factors driving the demand of 3D printing in the automotive sector. The use of 3D printing by the OEMs at reduced cost with better flexibility and strength is further allowing the manufacturers to increase their profits, which were earlier done through outsourcing which further increased the manufacturing costs of the automotive. Similarly, the manufacturing of customized parts, reduction of human error and higher precision is also the key driver which are expected to augment the use of 3D printing in the automotive industry. However, the unavailability of skilled personnel can hamper the growth of the market to some extent during the forecast period.

The Automotive 3D Printing Market - Forecasts from 2019 to 2024 is an exhaustive study that presents the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by component, technology, and geography.

The automotive 3D printing market has been segemented by component, technology, and geography. Based on component the market has been segmented into hardware, software, services, and material. By technology, the market has been classified into vat photopolymerization, metal extrusion, material jetting, binder jetting, direct energy deposition, powder bed fusion, and sheet lamination.

By component, hardware is expected to hold a significant share in the market owing to rising adoption of 3D printing in this industry. By geography, Asia Pacific region is projected to grow at a substantial rate owing to the growth in automotive industry in this region which is further leading to the growth in the automotive production, especially in the emerging economies of China, India, Malaysia, and other developing economies of Southeast Asia.

Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these regions present for the manufacturers and the service providers.

Major players in the automotive 3D printing market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the automotive 3D printing market.

Segmentation

The automotive 3D printing market has been analyzed through the following segments:

By Component

Hardware
Software
Services
Material

By Technology

Vat Photopolymerization
Metal Extrusion
Material Jetting
Binder Jetting
Direct Energy Deposition
Powder Bed Fusion
Sheet Lamination

By Geography

North America
South America
Europe
Middle East and Africa
Asia Pacific