Automotive 3D Printing Market to Reach USD 2280 Million by 2023

Market Study Report recently published a report projecting that the global automotive 3D printing market will reach USD 2280 million by 2023. One of the main factors that the organization attributed this to was the introduction of low-cost entry level 3D printers. It is expected that the availability of entry-level printers will prompt tier-2 and tier-3 plastic parts manufacturers and automotive suppliers to take to 3D printing technology for making small components like dampers and bearings. Entry-level 3D printing technology has become more available leading to greater levels of adoption and this is expected to eventually reduce the cost of the high-capability 3D printers that are currently being used only for industrial applications.

When it comes to specific markets, it is expected that the Americas will be the major revenue contributor to the market throughout the next few years. 3D printing of automotive parts offers many benefits like the ability to build complex shapes using fewer parts, less wastage of material and the ability to build lightweight products. There will also be less use of energy during the production process. Thus, many of the leading automotive manufacturers in the Americas are expected to adopt 3D printing.

The report predicts that over the next five years, Automotive 3D Printing will register a 20.1 percent CAGR in terms of revenue, and will reach USD 2280 million by 2023, from USD 910 million in 2017.

The report presents a comprehensive overview, market shares, and growth opportunities of Automotive 3D Printing market by product type, application, key manufacturers and key regions.

The report also presents details of the key players in the market like Arcam AB, Autodesk Inc, 3D Systems Corporation, EnvisionTEC, Hoganas AB, Optomec, Inc., Ponoko Limited and Stratasys Ltd while providing an overview of the competitive landscape.

The report covers the key factors which affect market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.