3D Printing In Automotive Market Is Predicted To Reach USD 2,512.3 Million By 2023

Market Highlights:
Growing investment on research and development activities and innovations is reinforcing the automotive industry worldwide. With an enormous capital investment in automotive technology, a number of manufacturers are aiming on light weight vehicles to decrease the fuel consumption and low emission. Among all the R&D activities, 3D printing in automotive has come up with a rapid pace and gaining attention in the global automotive industry. Moreover, the automotive companies are adopting new technology to reduce vehicle weight and control emission. Additionally, the low manufacturing cost, reduced wastage and increased production rate are driving the global 3D printing market. Furthermore, the income levels of individuals in the emerging countries have been gradually increasing due to the emerging economies and the government initiatives.

Due to these influencing factors, the market has witnessed a mounting demand for 3D printing in automotive which is likely to rise during the forecasted period. As per the analysis, the global 3D printing in automotive market is expected to reach USD 2,512.3 million with a CAGR of 26.2% during the forecast period.

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Key Players:
• Autodesk
• 3D Systems, Inc,
• Stratasys Ltd,
• Arcam AB
• EnvisionTEC, Inc,
• Exone
• Voxeljet AG
• Local Motors
• Ponoko Ltd.
• Optomec, Inc

Market Research Analysis:
As per MRFR analysis, the global 3D printing in automotive market is likely to grow at a CAGR of 26.2% during the forecast period, where the market value is expected to reach USD 2,512.3 million by 2023. Over the years, it has been analyzed that the automotive industry has come up with numerous technological advancements which has reduced the manufacturing and production cost as well as low maintenance cost have boosted up the demand.

Scope of the Report:
This study provides an overview of the global 3D printing in automotive market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global 3D printing in automotive market by its technology, material, application, and regions.

By Technology
• Stereolithography (SLA)
• Laser Sintering
• Electron Beam Melting
• Laminated Object Manufacturing
• Others

By Material
• Metal
• Alloys
• Others

By Application
• Prototyping and Tooling
• Manufacturing
• R&D Activities
• Others

By Region
• North America
• Asia Pacific
• Europe
• Rest of the World

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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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This release was published on openPR.