DUBLIN, Sept. 2, 2022 /PRNewswire/ — The ‘Automotive 3D Printing Market by Vehicle Type (ICE & Electric Vehicles), Offering (Hardware & Software), Component, Material (Metals, Plastics, Resin & Composites), Technology (SLA, SLS, EBM, FDM, LOM, 3DIP), Application, & Region – Global Forecast to 2027’ report has been added to ResearchAndMarkets.com’s offering.
The automotive 3D printing market is projected to grow from USD 2.9 billion in 2022 to USD 7.9 billion by 2027, at a CAGR of 21.7%.
Increasing initiatives & investments by major OEMs to drive the growth in automotive 3D printing
3D printing in the automotive sector helps OEMs reduce cost and produce cost-effective auto parts in reduced production time. Even though the implementation of this new technology is challenging at the beginning, OEMs have experienced positive impact on their production process and end products. Thus, OEMs have intensified their investments in 3D printing and made it a vital part of their manufacturing process.
Companies are investing heavily in R&D, which would supplement the growth of the 3D printing market. Various technological advancements in 3D printing techniques and materials in the past two decades have paved the way for new technologies that facilitate the production of various custom products. Industry leaders such as Stratasys (Israel) and 3D Systems (US) have invested significantly in 3D printing technology, which gives them a competitive advantage.
Material availability, cost, and standardization to slow down the automotive 3D printing market
A key factor restricting the adoption of 3D printing is the high cost associated with 3D printing materials; the cost of 3D printing materials is generally higher than bulk resin or powder counterparts. This high cost is attributed to factors such as the high level of purity and the need for uniformity in composition and size for specific 3D printing processes. The limited availability of 3D printing material suppliers compels customers to buy proprietary material from big players, which results in high costs.
Untapped adjacent markets for 3D printing applications
The progression of 3D printing applications from rapid prototyping to direct digital manufacturing (DDM) of products has generated interest in the future applications of 3D printing technologies in diverse fields such as healthcare, consumer products, and automotive. 3D printing possesses substantial commercial potential and will likely have a significant impact on various industries, including aerospace and medical, with more customized and sophisticated applications expected soon.
With the increasing industrialization of technologies, the 3D printing market is also booming in various sectors. The most notable growth is Desktop Metal, which went from a startup to one of the leading players in the 3D printing market. In 2017, the most common application of 3D printing was rapid prototyping. However, now the trend is shifting to R&D. In 2021, R&D applications surpassed prototyping as the most popular 3D printing application. The percentage of companies leveraging 3D printing to build production parts and jigs, fixtures, and tooling has roughly doubled since 2017 and use for production parts has nearly tripled.
The hardware segment is expected to be the leading during the forecast period
The 3D printing market offers software and hardware for various applications in the automotive industry. The hardware offering has the leading share on the offerings landscape and is estimated to lead the market in the forecast period. The growing sales and the wide adoption of the hardware such as 3D printers by the manufacturers are the driving factors for the offering to lead the market globally.
The advancements have helped automakers increase their production volume and reduce production costs. Automotive manufacturers are also using 3D printing for structurally complex and critical components, improving the components’ efficiency, life, and performance. The evolution of electric vehicles is resulting in more hardware used by the automotive industry. The low-volume production in the initial phase of electric vehicles can easily be handled using additive manufacturing economically and efficiently.
The hardware segment is growing as 3D printer manufacturers are consistently developing and updating their 3D printers and machines to suit the requirements of consumers and their applications. Hardware’s leading segment in the offering is driven by the growing sales globally. The advancements have helped automakers increase their production volume and reduce production costs
Europe is expected to witness significant growth during the forecast period
The European market is expected to exhibit growth in electric and autonomous vehicle production in the coming years, resulting in an increase in demand for 3D printing. Europe’s vibrant R&D landscape and technological excellence aid the usage of additive manufacturing for the development of prototypes, tooling, and production components. Additionally, the advent of autonomous cars and development of an electric transportation system for buses and trucks would drive the European automotive 3D printing market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Introduction
3.2 Pre- Vs Post-COVID-19 Scenario
3.3 Report Summary
4 Premium Insights
4.1 Attractive Opportunities in Automotive 3D Printing Market
4.2 Automotive 3D Printing Market, by Technology
4.3 Automotive 3D Printing Market, by Application
4.4 Automotive 3D Printing Market, by Material
4.5 Automotive 3D Printing Market, by Offering
4.6 Automotive 3D Printing Market, by Component
4.7 Automotive 3D Printing Market, by Vehicle Type
4.8 Automotive 3D Printing Market, by Region
5 Market Overview
5.1 Introduction
5.1.1 3D Printing Process
5.2 Drivers
5.2.1 Increase in Demand to Reduce Vehicle Weight, Production Cost, and Development Time
5.2.2 Increasing Initiatives and Investments by Major Oems
5.3 Restraints
5.3.1 Material Availability, Cost, and Standardization
5.4 Opportunities
5.4.1 Untapped Adjacent Markets for 3D Printing Applications
5.4.2 Growing Trends and Advancements in Automotive 3D Printing
5.4.3 Reduction in Supply Chain Cost and Make-On-Demand Using 3D Printing
5.5 Challenges
5.5.1 Manufacturers Vs. Copyright Issues
5.5.2 High Cost and Time Investment in Post-Processing of 3D-Printed Auto Components
5.6 Porter’s Five Forces Analysis
5.7 Trade Analysis
5.8 Trends/Disruptions Impacting Customer Business
5.9 Case Studies
5.9.1 Porsche’s 3D-Printed Custom Seats
5.9.2 Ford 3D Prints Parts for High-Performance Mustang Shelby Gt500
5.9.3 3D Printing Spare Parts for Classic Cars
5.9.4 Bmw Opts for Additive Manufacturing
5.9.5 Bugatti Bolide is Lighter and Faster Thanks to 3D Printing
5.9.6 Dallara and Its 3D-Printed Heat Exchangers
5.9.7 Ferrari and Metal Additive Manufacturing
5.9.8 Ford’s 3D Printing Projects
5.9.9 Lamborghini Uses Additive Manufacturing to Personalize Sian Roadster
5.9.10 Mclaren’s New Artura Hybrid Supercar
5.9.11 Toyota Corolla
5.9.12 Volkswagen
5.10 Patent Analysis
5.11 Value Chain Analysis
5.12 Automotive 3D Printing Market Ecosystem
5.13 Regulatory Analysis
5.14 Average Selling Price (ASP) Analysis
5.15 Automotive 3D Printing Market: Technology Trends
5.16 Automotive 3D Printing Market Scenario
5.17 Impact of Case (Connected, Autonomous, Shared & Service, Electric) on Automotive 3D Printing Market
5.18 Initiatives by Oems and Tier-1 Players
6 Current and Future Applications of 3D Printing in Automotive Industry
6.1 Introduction
6.2 Impact of 3D Printing on Automotive Industry
6.3 Current and Future Applications of 3D Printing in Automotive Components
6.3.1 Current Components
6.3.1.1 Exterior/Exterior Trim
6.3.1.2 Fluid Handling
6.3.1.3 Manufacturing Process
6.3.1.4 Exhaust/Emissions
6.3.1.5 Electronics
6.3.1.6 Wheels, Brakes, Tires, and Suspensions
6.3.1.7 Interior and Seating
6.3.1.8 Engine Components
6.3.2 Future Components
6.3.2.1 Frame, Body, and Doors
6.3.2.2 Oem Components
6.3.2.3 Ev Motors and Cooling Systems
7 Automotive 3D Printing Market, by Application
7.1 Introduction
7.1.1 Research Methodology
7.1.2 Assumptions
7.1.3 Industry Insights
7.2 Prototyping and Tooling
7.2.1 Growing Number of Electric Vehicles to Drive Segment
7.3 Research, Development, and Innovation
7.3.1 Investments in Ev Infrastructure to Drive Segment
7.4 Manufacturing Complex Components
7.4.1 Need to Maintain Material Availability and Compatibility to Drive Segment
7.5 Others
8 Automotive 3D Printing Market, by Technology
8.1 Introduction
8.1.1 Research Methodology
8.1.2 Assumptions
8.1.3 Industry Insights
8.2 Stereolithography (Sla)
8.2.1 Rising Usage of Plastic Components in Vehicles to Drive Segment
8.3 Selective Laser Sintering (Sls)
8.3.1 Compatibility with All Types of Materials to Drive Segment
8.4 Electron Beam Melting (Ebm)
8.4.1 Need for Dense and Void-Free Components to Drive Segment
8.5 Fused Deposition Modeling (Fdm)
8.5.1 Cost-Efficiency Benefits to Drive Segment
8.6 Laminated Object Manufacturing (Lom)
8.6.1 Ability to Offer Desired Design and Shape of Components to Drive Segment
8.7 Three-Dimensional Inject Printing
8.7.1 Technological Advancements to Drive Segment
8.8 Others
9 Automotive 3D Printing Market, by Material
9.1 Introduction
9.1.1 Research Methodology
9.1.2 Assumptions
9.1.3 Industry Insights
9.2 Metals
9.2.1 Stainless Steel
9.2.1.1 Demand for 3D Printing in Exterior Components to Drive Segment
9.2.2 Titanium
9.2.2.1 Need for Materials with High Temperature Resistance to Drive Segment
9.2.3 Aluminum
9.2.3.1 Demand for Lightweight Metallic Components to Drive Segment
9.2.4 Metal Alloys
9.2.4.1 Demand for High-Strength Components to Drive Segment
9.3 Plastics
9.3.1 Acrylonitrile Butadiene Styrene (Abs)
9.3.1.1 Demand for Cost-Effective Components to Drive Segment
9.3.2 Polylactic Acid (Pla)
9.3.2.1 Demand for Surface-Finished Components to Drive Segment
9.3.3 Nylon
9.3.3.1 Better Heat and Chemical Resistance Properties to Drive Segment
9.3.4 Resin & Composites
9.3.4.1 Unique Chemical and Physical Properties to Drive Segment
9.4 Others
10 Automotive 3D Printing Market, by Offering
10.1 Introduction
10.1.1 Research Methodology
10.1.2 Assumptions
10.1.3 Industry Insights
10.2 Hardware
10.2.1 Rising Demand for R&D, Prototyping, and Tooling to Drive Segment
10.3 Software
10.3.1 Technological Advancements in Automotive Component Designs to Drive Segment
11 Automotive 3D Printing Market, by Component
11.1 Introduction
11.1.1 Research Methodology
11.1.2 Assumptions
11.1.3 Industry Insights
11.2 Interior Components
11.2.1 Rising Demand for Lightweight Interior Components to Drive Segment
11.3 Exterior Components
11.3.1 Efficiency in Exterior Component Production with 3D Printing to Drive Segment
12 Automotive 3D Printing Market, by Vehicle Type
12.1 Introduction
12.1.1 Research Methodology
12.1.2 Assumptions
12.1.3 Industry Insights
12.2 Ice Vehicles
12.2.1 Advancement of 3D Printing from Prototypes to Critical Components to Drive Segment
12.3 Electric Vehicles
12.3.1 Allied Development of Electric Vehicles Using 3D Printing to Drive Segment
13 Automotive 3D Printing Market, by Region
14 Competitive Landscape
14.1 Overview
14.2 Automotive 3D Printing Market Share Analysis, 2021
14.3 Revenue Analysis of Top Listed/Public Players
14.4 Company Evaluation Quadrant: Automotive 3D Printing Suppliers
14.4.1 Stars
14.4.2 Emerging Leaders
14.4.3 Pervasive Companies
14.4.4 Participants
14.5 Competitive Scenario
14.5.1 New Product Developments
14.5.2 Deals
14.5.3 Other Developments, 2019-2022
14.6 Key Player Strategies/Right to Win, 2018-2021
14.7 Competitive Benchmarking
15 Company Profiles
15.1 Key Players
15.1.1 Stratasys
15.1.2 3D Systems
15.1.3 Eos
15.1.4 Arcam Ab
15.1.5 Renishaw plc
15.1.6 Hp Inc
15.1.7 Materialise
15.1.8 Desktop Metal
15.1.9 Voxeljet
15.1.10 Ultimaker
15.1.11 Carbon
15.1.12 Farsoon Technologies
15.1.13 Nexa3D
15.2 Other Key Players
15.2.1 Eplus3D
15.2.2 Protolabs
15.2.3 Slm Solutions Group Ag
15.2.4 Sinterit
16 Analyst’s Recommendations
17 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/i7a0d
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