The 3D printing automotive market is estimated to be USD 482.27 Million in 2015, and is projected to reach USD 1.56 Billion by 2020, growing at a CAGR of 26.58%.
Pune, India -- (SBWIRE) -- 01/20/2016 -- The report "3D Printing Automotive Market - Global Trends and Forecast to 2020",defines and segments the 3D printing market for automotive with an analysis and forecast of the market size, in terms of volume and value.
Browse 71 tables and 71 figures spread through 166 pages and in-depth TOC on "3D Printing Automotive Market - Global Trends and Forecast to 2020"
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The 3D printing market for automotive is estimated to be USD 482.27 Million in 2015, and is projected to reach USD 1.56 Billion by 2020, growing at a CAGR of 26.58%.
Europe: Largest 3D printing market for automotive by 2020
North America has the highest penetration rate of 3D printing technology. Europe and Asia-pacific are in the early stages of adopting 3D printing technology. This lag in adoption is attributed to a lack of awareness regarding 3D printing and reluctance towards new technology. However, Europe is projected to account for the largest share, in terms of value (2020), followed by Asia-Pacific, North America, and the rest of the world. The expiration of key patents has prompted several manufacturers to enter the 3D printing market. The prices of 3D printers are also declining, which could lead to a sudden spike in demand from the consumer segment. The 3D printing market for automotive in Europe is estimated to grow at the highest CAGR, by value, of 30.29% from 2015 to 2020.
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Key market drivers and restraints
Some of the major drivers of the 3D printing in automotive market are innovation in new printing materials and technologies, product development at low costs, and expiration of key patents. However, certain factors, such as the high initial investment, lack of standards in process control, and lack of high quality raw material, could inhibit market growth.
The report covers the 3D printing market for automotive, in terms of volume ('000 Kilograms) and value (USD Million), across the regions of Asia-Pacific, Europe, North America, and Rest of the World (RoW). It outlines the qualitative and quantitative aspects of the 3D printing market for automotive on the basis of materials, which comprise polymers, metals/alloys, and others (glass, ceramics, wood, and composites), application, which includes prototyping and tooling, R&D and innovation, manufacturing complex components, and others (customization, personalization, and aftermarket), technology, which comprises stereolithography (SLA), laser sintering, electron beam melting (EBM), fused disposition modeling (FDM), laminated object manufacturing (LOM), three dimensional inkjet printing (3IDP), and other technologies, and the 3D printer market from 2013 to 2020. It also includes a value chain analysis, Porter's Five Forces analysis, a competitive landscape, case studies, product mapping and technology overview, and company profiles of 10 key players in the 3D printing market.
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