Market Synopsis:
3D printing technology is aidingthe automotive industry by providing functional prototype phases, designs, partmanufacturing and tools production. As per the report published by MarketResearch Future (MRFR), the global 3D printing in automotive market isanticipated to expand remarkably at a striking CAGR of 26.2% during theforecast period of 2017-2023.
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Market Drivers and Restraints:
The expeditious development in 3Dprinting technology for widening the application range of 3D printed materialsis creating large opportunities for the expansion of the global 3D printing inautomotive market. The use of 3D printing technology in automotive industry hasaided the production of more complex designs which was inconvenient through theconventional methods. The short time span required for production of 3D printedparts as compared to the conventional production methods has cut down themanufacturing cost and fastened the production process in the automotiveindustry.
The increasing focus onintroducing innovative and efficient printing materials to provide lightweightspare parts, reducing material wastage and lowering the turnaround time isdriving the expansion of the global 3D printing in automotive market. Theincreasing government support for research and development in 3D printingtechnology is likely to impact positively on the growth of the global 3Dprinting in automotive market.
On the flip side, the high costand low availability of 3D printers in the market are likely to act as arestraint on the growth of the global 3D printing in automotive market.
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Market Segmentation:
The global 3D printing inautomotive market has been segmented on the basis of technology, material andapplication. Based on technology, the 3D printing in automotive market issegmented into stereolithography (SLA), laser sintering, electron beam melting,laminated object manufacturing and others. Among these, the stereolithography(SLA) accounts for the largest market share in the global 3D printing inautomotive market.
Based on material, the 3Dprinting in automotive market is segmented into metal, alloys and others. Basedon application, the 3Dprinting in automotive market is segmented into prototyping and tooling, manufacturing,research and development activities, and others.
Regional Analysis:
Geographically, the global 3Dprinting in automotive market is segmented into four major regions such asNorth America, Asia Pacific, Europe and the rest of the world. Among these, theEurope region accounts for the largest market share in the global 3D printingin automotive market owing to the presence of large number of automotivemanufacturers that are inclining towards the incorporation of 3D printingtechnology in the manufacturing process in this region.
The 3D printing in automotivemarket in the North America and Asia Pacific regions is growing significantly,owing to the rapid technological advancement in the field on 3D technology andbrisk development in the automotive industry in these regions.
The constant development in the3D printing technology for widening the application range of 3D printingtechnology is fueling the expansion of the 3D printing in automotive market inthe rest of the world.
Competitive Analysis:
The increased investments inresearch and development for introduction of innovative printing materials andcost-effective printers has strengthened the competition among the players ofthe global 3D printing in automotive market. The major focus of players onexpansion of their businesses through strategic mergers and acquisitions isaiding the growth of the global 3D printing in automotive market.
In July 2018, BASF, a leadingprovider of automotive solutions, has announced its partnership withMaterialise, a major supplier of 3D printing technology. These companies areworking together in an open business model to provide improved materials andsoftware for various 3D printing technologies.
The leading players of the global3D printing in automotive market that are profiled in the report published byMRFR are Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc,Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc and others.
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
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About Market Research Future:
Market Research Future (MRFR) isa global market research firm that takes great pleasure in its services,providing a detailed and reliable study of diverse industries and consumersworldwide. MRFR's methodology integrates proprietary information with differentdata sources to provide the client with a comprehensive understanding of thecurrent key trends, upcoming events, and the steps to be taken based on thoseaspects.
Our rapidly expanding marketresearch company is assisted by a competent team of research analysts whoprovide useful analytics and data on technological and economic developments.Our deemed analysts make industrial visits and collect valuable informationfrom influential market players. Our main goal is to keep our clients informedof new opportunities and challenges in various markets. We offer step-by-stepassistance to our valued clients through strategic and consulting services toreach managerial and actionable decisions.
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