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Exceptional growth prospects of the electric vehicles market is a major growth factor for the 3D printing automotive market
HYDERABAD, TELANGANA, INDIA, August 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 complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more. Automotive 3D Printing market is growing at a significant rate in the forecast period owing to increasing research and development activities and innovations is strengthening the automotive industry worldwide.
This IndustryARC report on the Automotive 3D Printing Market highlights the following areas:
1. Automotive 3D printing in North America is growing at significant rate owing to the stringent governmental regulations regarding automobiles and auto parts are regulated through the National Highway Traffic Safety Administration (NHTSA) and the U.S Environmental Protection Agency (EPA).
2. The exceptional growth prospects of the electric vehicles market is a major growth factor for the 3D printing automotive market owing to its importance in electric vehicles.
3. The automotive OEMs are partnering with the leading 3D printing companies like Stratatsys, Shining 3D, SLM Solutions are largely concentrating on the technologies like stereo lithography, fused deposition modeling, and Laser sintering.
4. Automotive 3D Printing top 10 companies include Stratasys Inc., 3D System, Materialise 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 significant rate of 12.2% CAGR through 2026 owing to the stringent governmental regulations regarding automobiles and auto parts are regulated through the National Highway Traffic Safety Administration (NHTSA) and the U.S Environmental Protection Agency (EPA).
2. As 3D printing is in nature an additive, it can create identical parts as single objects, allowing for less inspections and improved efficiency in the workflow. With Additive Manufacturing, designs with complex geometries only distribute build material where conformity with automotive performance standards is strategically necessary.
3. 3d printing technology across the automotive industry helped in reducing the overhead operational costs along with speeding up the design iteration process, thus driving its demands in the automotive sector in the forecast period 2021-2026.
4. In April 2018, BMW invested $12m in a new additive manufacturing campus, Located Munich, Germany. BMW states that it is already using additive manufacturing to make prototype components in Shenyang (China) and Rayong (Thailand).
Top 5 Key Players in the Automotive 3D Printing market are:
• Stratasys Inc
• 3D System
• Materialise NV
• Renishaw PLC
• SLM Solutions
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