3D printing refers to manufacturing process which builds or forms 3D parts in layers from CAD data. 3D printing starts with a digital file derived from computer aided design (CAD) software.
Major factor driving growth of the global automotive 3D printing market is increasing adoption of 3D printers in automobile sector due to its high accuracy. In addition, in order to reduce the operational cost and time frame required to make complex automotive part is expected to support growth of the market.
The global automotive 3D printing market is segmented on the basis of component, application, and region.
The component segment of global automotive 3D printing market is segmented on the basis of technology, material, and services. The technology segment is estimated to account for major share in the global automotive 3D printing market in terms of revenue. In addition, technology segment is also projected to register fastest growth over the forecast period.
The application segment of global automotive 3D printing market is segmented on the basis of prototyping & tooling, R&D and innovation and manufacturing complex products.
On the basis of region, the global automotive 3D printing market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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The market in North America is expected to account for largest share in the global market in terms of revenue, owing to presence of prominent players operating in countries in the region.The market in Asia Pacific is expected to account for significant revenue share in the global market. The market in Asia Pacific is projected to register lucrative CAGR in terms of revenue over the forecast period, owing to increasing investment in automotive R&D in emerging economies such as China and Japan in this region.
Key players operating in the global automotive 3D printing market include 3D Systems Corporation, Arcam AB, Autodesk, Inc., envisionTEC GmbH, Hoganas AB, Optomec, Inc., Ponoko Limited, Stratasys Ltd., The ExOne Company, and Voxeljet AG.