Press release
Global Automotive 3D Printing Market Industry Trends, Estimation & Forecast, 2018 - 2025
3D printing or AM helps produce prototypes and models from 3D computer-aided design (CAD). This helps several companies to reduce wastage during prototype transitions in traditional manufacturing and also helps them to bring down their operational costs. 3D printing also enables the quick production of cost-efficient prototypes based on the customers’ requirements regarding the geometry of the structure, accuracy, and well-defined smoothness of the products used in any industry.
Global 3D Printing in Automotive Market is valued at USD 1.97 Billion in 2018 and expected to reach USD 7.22 Billion by 2025 with a CAGR of 20.37% over the forecast period.
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3D printing market is segmented into stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing, and others. These technologies follow the additive manufacturing process in which a model is built by adding successive layers of material. Among these technologies, stereolithography is expected to play the most prominent role since it has revolutionized the speed and techniques of designing and manufacturing objects, thereby benefiting various industries significantly. Based on input materials, the 3D printing material market is segmented into polymers, metals and alloys, ceramic and others. Polymers are the most extensively used 3D printing material in the current scenario. Based on applications, the automotive 3D printing market is segmented into prototyping and tooling, R&D, and innovation and manufacturing of complex parts.
The US held the largest share of the 3D printing market in North America in 2017. Continuous investments in research and development have broadened the applications of 3D printing in the academics and other industries, such as aerospace & defense, automotive, healthcare, industrial, consumer products, jewelry, and energy, where 3D printing is used for developing prototypes and manufacturing end products.
Key players in the global 3D printing market include Stratasys (US), 3D Systems (US), EOS GmbH(Germany), GE Additive (US), and Materialise (Belgium), among others. Stratasys and 3D Systems dominated the 3D printing industry, in terms of revenues. These two players have been relying on their strong research and development (R&D) capabilities, diversified product portfolio, global reach, strategic partnerships, and mergers and acquisitions to hold a large share of the 3D printing market. The market also has many small players that together hold the remaining share.
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