Press release
What’s Driving the Automotive 3D Printing Market Trends? | Key Players are Renishaw, Concept Laser, SLM Solutions Group AG, voxeljet AG, XYZprinting, Monoprice, Höganäs AB
Automotive 3D Printing Market
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The hardware market accounted for over 75% of the automotive 3D printing market. The hardware market includes 3D printers and materials. The growth of the market is attributed to the falling prices of 3D desktop printers. The price of the desktop printer is declining at an annual rate of 2-3% over the past five years and is estimated to resonate the trend during the forecast period.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Autodesk
2. HP
3. Stratasys
4. Materialise
5. Protolabs
6. Renishaw
7. Concept Laser
8. SLM Solutions Group AG
9. voxeljet AG
10. XYZprinting
11. Monoprice
12. Höganäs AB
13. Arcam AB
14. Optomec
Chapter 3. Automotive 3D Printing Market Industry Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Industry landscape, 2013 – 2024
3.3.1. 3D Printing Market
3.4. Industry ecosystem analysis
3.5. 3D printing market evolution
3.6. Market news
3.7. Technology and innovation landscape
3.7.1. Hybrid printing
3.7.2. Multi-material printing
3.7.3. Direct metal printing (DMP)
3.8. Use cases
3.8.1. Fluid handling
3.8.2. Exterior interior trim
3.8.3. Manufacturing process
3.8.4. Exhaust/emissions
3.8.5. Powertrain & drivetrain
3.8.6. Frame, body, doors
3.8.7. OEM Components
3.8.8. Electronics
3.8.9. Wheels, tires & suspension
3.8.10. Interior & seating
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.1.1. Abiltiy to develop more complex and higher quality products
3.9.1.2. Cost effetive, fast custoization and faster time to market
3.9.1.3. Supportive government initiatives
3.9.1.4. Decline in the price of desktop printers
3.9.2. Industry pitfalls & challenges
3.9.2.1. Scalability
3.9.2.2. Inabilty to manufacture larger parts and components
3.9.2.3. Lack of skilled professionals
3.9.2.4. Intellectual property concerns
3.10. Growth potential analysis
3.11. Porter’s analysis
3.12. PESTEL analysis
The prototyping is expected to account for approximately 60% of the market share in the automotive 3D printing market. The additive manufacturing technology enables faster development of prototypes and consumes less resources as compared to the conventional manufacturing technologies. Moreover, it also reduces the tooling costs as it allows manufacturers to use the same tooling equipment to develop a wide variety of models.
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North America holds the major share in the automotive 3D printing market. It held more than 40% share of the total revenue in 2017. The presence of major market players, such as Stratasys and 3D Systems, in the region is a primary factor supporting the market growth. The region has also witnessed higher R&D investments than other regions, which has further fostered the advancements in the 3D printing technology.
Furthermore, supportive government initiatives will also foster the market growth. For instance, the U.S. government is constantly working with various private institutions and academic establishments to promote the use of additive manufacturing technologies in the region.
Asia Pacific automotive 3D printing market is expected to grow substantially at a CAGR of over 30% during the forecast timespan. The industrialized countries, as well as emerging nations in the region, have introduced numerous initiatives to strengthen the productivity and competitiveness across the automotive manufacturing sector. In addition, countries including Singapore & China have allocated millions of dollars to commercialize the technology.
The automotive 3D printing market has portrayed a rapid growth over the last decade as the companies operating in the market have attracted investments to capitalize and commercialize the technology. The players in the market are introducing various strategic initiatives to expand their market share and strengthen their product portfolio. For instance, 2018 EOS & SLM Solutions collaborated with Audi to incorporate 3D printing technology across its manufacturing facility. This collaboration is aimed at developing new product offerings to gain an advantage over its competitors.
The major companies operating in the automotive 3D printing market are Arcam AB, Autodesk, ExOne (The ExOne Company), Flashforge Corporation®, Höganäs AB, HP, Monoprice, Optomec, Ponoko, Prusa Research s.r.o., Stratasys, voxeljet AG, XYZprinting, Materialise, Nano Dimension, Protolabs, SLM Solutions Group AG, Electro-Optics Technology, Inc., Concept Laser, and Renishaw.
Browse key industry insights spread across 280 pages with 450 market data tables & 27 figures & charts from the report, 3D Printing in Automotive Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/3d-printing-in-automotive-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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