Jersey City, New Jersey, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Verified Market Research® recently published a report, “3D Printing Automotive Market” By Technology (Stereolithography, Electronic Beam Melting, Fused Deposition Modeling), By Material Type (Metal, Polymer), By Application (Production, Prototyping), and By Geography.
As per the deep research carried out by Verified Market Research®, the global 3D Printing Automotive Market size was valued at USD 19.18 Billion in 2020 and is projected to reach USD 65.57 Billion by 2028, growing at a CAGR of 19.2% from 2021 to 2028.
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Browse in-depth TOC on “3D Printing Automotive Market”
202 - Pages
126 – Tables
37 – Figures
Global 3D Printing Automotive Market Overview
The growing demand in the automobile industry for efficient, cost-effective technology that creates complex, high-quality products is driving the adoption of 3D printing in the automotive industry. Products that were previously technically impossible to build using conventional techniques are now technically possible because of technology. Internal components can be integrated under previously inaccessible surfaces and other elements thanks to the additive manufacturing technology's building process. It gives manufacturers the flexibility to combine components for integrated functionality that will increase the product's performance and durability while lowering costs.
The main drivers of market expansion are the expansion of technology, the growing requirement to produce intricate designs quickly, and the rising need for shorter product development cycles at lower costs. Additionally, rising government spending on 3D printing-related R&D initiatives is anticipated to promote market expansion. New materials and processes used in additive manufacturing are opening up new 3D printing possibilities in the automotive industry.
One of the most popular 3D printing techniques in the automotive sector is FDM. The adaptability of the process used to produce prototypes, concept model components, and finished goods contributes to the preservation of a sizable market share in the 3D printing automotive sector. This computer-assisted method begins the printing process bottom-up by receiving input from a processing unit for the model that it needs to produce. The utilization of materials like thermoplastics during the process yields extremely light final goods. Advanced high-performance thermoplastics are utilized in the manufacturing process to create items that are extraordinarily strong, durable, and light.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global 3D Printing Automotive Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Key Players
The “Global 3D Printing Automotive Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are 3D Systems Corporation, ARCAM AB, Autodesk Inc, EnvisionTEC, Optomec Inc., Ponoko Ltd, Stratasys Ltd, The Exone Company, Voxeljet AG, Materialise NV.
Based on the research, Verified Market Research® has segmented the global 3D Printing Automotive Market into Technology, Material Type, Application, and Geography.
- 3D Printing Automotive Market, by Technology
- Stereolithography
- Electronic Beam Melting
- Fused Deposition Modeling
- Others
- 3D Printing Automotive Market, by Material Type
- Metal
- Polymer
- Others
- 3D Printing Automotive Market, by Application
- Production
- Prototyping
- Others
- 3D Printing Automotive Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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