The motor vehicle manufacturing industry relies heavily on other industries such as metal, plastic, rubber, leather, textile and chemical manufacturing industries for raw materials. Steel, aluminum, iron, glass, petroleum products, rubber and special fibers are procured from manufacturers. Stamping, welding, painting, assembly and inspection are major processes in an automobile manufacturing facility. Parts that are sequentially assembled on an assembly line include the engine, front and rear suspension, fuel tank, rear-end and half shafts, transmission, drive shaft, gear box, wheel drums and the brake system. Interior components of a vehicle such as instrumentation, wiring systems, dash panels, interior lights, steering column and brake and gas pedals are then integrated to complete the assembling process of the vehicle.
The global motor vehicles market has shown growth in the past years with a CAGR of over 7%. The year 2017 recorded high growth in the market with a net value of $3450 billion as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global motor vehicles market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
Additive manufacturing is continuously evolving and automobile manufacturers are now using 3D printing technology to reduce production time and costs. 3D printing creates a three-dimensional physical object using a digital design. It is being used to build prototypes of cars, concept models, design verification and functional parts used in test vehicles and engines. Automobile manufacturers are also using 3D printing to build a variety of tools, jigs and fixtures used in assembly and manufacturing processes. 3D printing helps in rapid prototyping, increases assembly line efficiency, lowers turnaround time, improves flexibility in design and reduces wastage of materials. For instance, in 2014, Local Motors, an American motor vehicles manufacturing company, developed the first 3D-printed car from an ABS carbon fiber blend. In
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October 2016, Honda released a single seater micro commuter in Japan, with its body and majority of panels being 3D-printed. The revenue from 3D printing automotive market is expected to reach $2.3 billion by 2021, thus indicating high potential for this technology in the forecast period.
Companies included in the report are Toyota Motor, Volkswagen Group, General Motors, Daimler AG, and Ford Motor.
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