Automotive 3D printing market expected to reach $1,450 million by 2025
The exceptional growth prospects of the electric vehicle market are a major growth factor for the automotive 3D printing market
HYDERABAD, TELANGANA, INDIA, Aug. 26, 2022 /EINPresswire.com/ — Automotive 3D printing market is expected to reach $1,450 million by 2025 at a CAGR of 11.84% during the forecast period 2020-2025. The report offers a comprehensive analysis of the market, its main segments, growth factors, trends, drivers and challengers, key players and more. The automotive 3D printing market is growing at a significant rate during the forecast period owing to the increase in research and development activities and innovations that are strengthening the automotive industry globally.
Key points to remember:
This IndustryARC report on the automotive 3D printing market highlights the following areas:
1. Automotive 3D printing in North America is experiencing significant growth due to strict government regulations regarding automobiles and auto parts which are regulated by the National Highway Traffic Safety Administration (NHTSA) and the Environmental Protection Agency (EPA) the United States.
2. The exceptional growth prospects of the electric vehicle market is a major growth driver for the automotive 3D printing market due to its importance in electric vehicles.
3. Automotive OEMs partner with leading 3D printing companies such as Stratatsys, Shining 3D, SLM Solutions largely focus on technologies such as stereolithography, fusion deposition modeling and laser sintering.
4. Top 10 automotive 3D printing companies include Stratasys Inc., 3D System, Materialize NV, Renishaw PLC, SLM Solutions, ExOne, Envisiontec Inc., EOS, Arcam AB, Autodesk, Inc., among others.
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1. Automotive 3D printing in North America is growing at a significant rate of 12.2% CAGR through 2026 due to strict government regulations regarding automobiles and auto parts are regulated by the National Highway Traffic Safety Administration (NHTSA ) and the US Environmental Protection Agency (EPA).
2. Since 3D printing is additive in nature, it can create identical parts as single objects, which can reduce the number of inspections and improve workflow efficiency. With additive manufacturing, designs with complex geometries only distribute building materials where compliance with automotive performance standards is strategically needed.
3. 3D printing technology in the automotive industry has helped reduce the operating overhead while speeding up the design iteration process, thus boosting its demands in the automotive sector during the forecast period 2021 -2026.
4. In April 2018, BMW invested $12 million in a new additive manufacturing campus, located in Munich, Germany. BMW says it is already using additive manufacturing to manufacture prototype components in Shenyang (China) and Rayong (Thailand).
The Top 5 Automotive 3D Printing Market Key Players are:
• Stratasys Inc.
• 3D system
• Materialize NV
• Renishaw APIs
• TDM solutions
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A. 3D printing market