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Automotive 3D Printing Market to Grow at CAGR of 28% from 2015 to 2020

According to a research report by ReportsnReports.com, the 3D printing market for the automotive industry is forecasted to grow at a CAGR of 27.72% from 2015 to 2020.

Due to the focus of companies on the latest technology, environmental friendly and faster production as well as innovative designs, the global automotive 3D printing market was growing at a compound annual growth rate of 22.87% during 2010 to 2015. In 2015 a growth rate of 30.67% was recorded.

The increased growth rate is based on the general improvement of 3D printing technology and its performance, the growing number of 3D printed components as well as 3D printed cars. Additional advancements in software and technology are also contributing factors to the rise.

The report lists companies such as Stratasys, 3D Systems, Renishaw , Materialise and Arcam as major players in the automotive segment.