Automotive 3D printing market is expected to reach $1.8 billion by 2026 – IndustryARC
Automotive 3D printing market is expected to reach $1.8 billion by 2026 at a CAGR of 11.1% during the forecast period 2021-2026, owing to increasing research and development activities and innovations which is strengthening the automotive industry worldwide. Similarly, with a huge capital investment in automotive technology, several manufacturers are focusing on light weight vehicles to decrease the fuel consumption and low emission.
Competitive Landscape:
The top 5 players in the Automotive 3D printing industry are –
1. Stratasys
2. 3D System
3. Materialise
4. Renishaw PLC
5. Envisiontec
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Segmental Analysis:
1. Manufacturing complex components is growing at a highest CAGR of 12.1% in the forecast period. Complex components with internal cavities require multiple subcomponents held together by a variety of processes in the standard subtractive manufacturing process.
2. Selective Laser Sintering is an additive manufacturing or 3d printing technology that can be used for processing many types of materials such as polymers, metals, ceramics, and composites to create complex parts. It’s areas of applications include automotive, aerospace tooling, biomedical as well as architecture.
3. Automotive 3D printing in North America is growing at significant rate of 12.2% CAGR through 2026 owing to the stringent governmental regulations regarding automobiles and auto parts are regulated through the National Highway Traffic Safety Administration (NHTSA) and the U.S Environmental Protection Agency (EPA).
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Report Coverage |
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Report Attributes |
Details |
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By Material |
Metals, Polymer, Others (Ceramic and Glass)
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By Application |
Prototyping & Tooling, Manufacturing Complex Components, Research, Development & Innovation, Others
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By Technology |
Stereolithography, Selective Laser Sintering, Electron Beam Melting (EBM), Fused Disposition Modeling, Laminated Object Manufacturing, Three Dimensional Inject Printing, Others |
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By Geography |
North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa)
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Market Drivers and Challenges:
1. The market for electric vehicles is growing all across the globe, however, the electric vehicle market growth in China is quite significant. The exceptional growth prospects of the electric vehicles market is a major growth factor for the 3D printing automotive market owing to its growing importance in electric vehicles.
2. Going forward, it plans to integrate additive manufacturing more fully into the local production structure of China and allow small production runs for customizable components. The HP and Guangdong companies have disclosed a new production-grade Additive Manufacturing centre in Dali, Foshan China.
3. Additive manufacturing is facing speed of production challenges, which limits mass production potential. Advances are being made in additive manufacturing processes such that companies can create reliably unique parts and mass produce them and create custom parts for individual markets.
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Related Reports:
A. China Automotive Additive Manufacturing Market
https://www.industryarc.com/Report/19255/china-automotive-additive-manufacturing-market.html
B. 3D Printing Market
https://www.industryarc.com/Report/18389/3d-printing-market-research-report-analysis.html
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