Additive Manufacturing in the Automotive Industry Forecast to 2028 | Global Industry Report
New and improved technologies, government financial support, large - scale application area is likely to stimulate demand.
The Additive Manufacturing in the Automotive Industry is expected to grow from USD 7.76 Billion in 2020 to USD 13.75 Billion by 2028, at a CAGR of 7.5%. New and improved technologies, government financial support, large - scale application area, rapid low - cost product development and easy custom product development are the main drivers intended to drive the automotive additive manufacturing market.
Automotive industry stakeholders around the world are now racing towards full industrialization and integration of the AM process in their end - to - end production workflow, starting with software and materials, going through the actual AM hardware and ending with services and a growing number of potential applications.
Thus, 3D printing is well positioned to expand its use as the primary technology for automotive prototyping and tooling, while at the same time creating a stronger than ever opportunity for serial and mass production of customized parts.
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The significant players in the market are Stratasys (US), Arcam AB (Sweden), 3D Systems (US), Proto Labs Inc. (US), SLM Solutions (Germany), Materialise (Belgium), ExOne GmbH (Germany), EOS GmbH (Germany), Concept Laser (Germany), Ultimaker (Netherlands) and others.
Further key findings from the report suggest
- The Additive Manufacturing in the Automotive Industry is expected to grow from USD 7.76 Billion in 2020 to USD 13.75 Billion by 2028, at a CAGR of 7.5%. New and improved technologies, government financial support, large - scale application area, rapid low - cost product development and easy custom product development are the main drivers intended to drive the automotive additive manufacturing market.
- On the basis of material-type, the metal segment is expected to hold the largest market share as 3D printing is easy to use in the manufacture of end products (engines, spare parts, other interior and exterior parts).
- While the market continues to focus on prototyping and tooling, by the end of the forecast period, parts production will become the primary revenue opportunity, surpassing prototyping, tooling, hardware and materials.
- Production of parts including metal and polymer parts produced by automotive OEMs internally as well as in outsourcing. These are expected to be the primary revenue opportunity for the Additive Manufacturing in the Automotive Industry that drives the whole segment, amounting to almost USD 13.75 Billion by the end of the forecast period.
- Europe is forecasted to grow the largest during the forecast year and is expected to maintain its dominance over the forecast period. Increasing expenditure, rising income levels, low manufacturing costs, rapid product development, and lower competition than mature countries have also amplified market players ' interest in emerging markets.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2020 to 2028. For the purpose of this study, Reports and Data have segmented the market on the basis of technology-type, application-type, material-type and regional analysis.
Technology-Type (Units, Thousands: 2020-2028; and Revenue, USD Million: 2020-2028)
- Multijet Printing (MJP)
- Direct Metal Laser Sintering (DMLS)
- Fused Deposition Modelling (FDM)
- Stereolithography (SLA)
- Selective Laser Melting (SLM)
- Electronic Beam Melting (EBM)
- Laser Metal Deposition (LMD)
- Selective Laser Sintering (SLS)
- Laminated Object Manufacturing (LOM)
Material-Type (Units, Thousands: 2020-2028; and Revenue, USD Million: 2020-2028)
Application-Type (Units, Thousands: 2020-2028; and Revenue, USD Million: 2020-2028)
- R&D & Innovation
- Manufacturing Complex Parts
The segmentation section covers detailed market share analysis for each product and application along with an accurate projection of the market growth during the forecast period. The report also explains in detail about the consumption rate of each product and application, along with an anticipated growth rate over the forecast period.
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The report offers a comprehensive overview of the competitive landscape of the market to provide an advantage to the reader. This segment focuses on the initiatives and innovations adopted by the key players to gain a strong foothold in the market. The report also sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others, to offer a better understanding of the market. The report also offers insights into revenue, gross profit margin, financial standing, market position, product portfolio, and other vital aspects of each player. The report also includes a thorough SWOT analysis and Porter’s Five Forces analysis.
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