Automotive Additive Manufacturing Market Revenue, Growth Factors, Trends, Key Companies, Forecast To 2028
The Automotive Additive Manufacturing Market 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 Automotive Additive Manufacturing Market 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 automotive additive manufacturing market 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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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)
- Others
Material-Type (Units, Thousands: 2020-2028; and Revenue, USD Million: 2020-2028)
- Metal
- Polymers
- Ceramics
- Others
Application-Type (Units, Thousands: 2020-2028; and Revenue, USD Million: 2020-2028)
- Prototyping
- Tooling
- R&D & Innovation
- Manufacturing Complex Parts
- Others
The report explains the market share and sales volume of each company, along with the key details of the operations of these companies. The report further offers extensive coverage of their product portfolio, business expansion plans, gross profit margins, revenue contribution, investment plans, and financial standings. The report also covers the strategic alliances observed within these key companies such as mergers and acquisitions, joint ventures, corporate and government deals, partnerships and agreements, and brand promotions and product launches.
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Furthermore, the research study gives additional insights into the companies’ regional presence through extensive regional analysis. The regional analysis covers the key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The regional analysis segment covers details about the market share held by each region along with the prospective growth opportunities and revenue generation. The report also offers a projection of the growth rate for each region in the entirety of the forecast timeline. It also offers a country-wise analysis to impart a better understanding of the industry.
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