3D Printing in Automotive Market Recent Trends,Market Growth,Top Manufacturers Analysis,Business Opportunities and Demand
Category: #business  By Rahul Varpe  Date: 2021-08-09
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3D Printing in Automotive Market Recent Trends,Market Growth,Top Manufacturers Analysis,Business Opportunities and Demand

3D Printing in Automotive Market is anticipated to be over USD 8 billion by 2024. The growing need for developing complex and high-quality components while keeping the manufacturing costs low is a primary factor driving the demand for the 3D printing solutions in the automotive sector. The technology has allowed manufacturers to produce components, which were not feasible through traditional manufacturing methodologies. The traditional manufacturing technology produced numerous components separately & then assembled these components into a single entity. Whereas, the 3D printing technology provides designers the freedom to produce various components in a single entity.

The hardware market accounted for over 75% of the 3D printing in automotive market. The hardware market includes 3D printers and materials. The growth of the market is attributed to the falling prices of 3D desktop printers. The price of the desktop printer is declining at an annual rate of 2-3% over the past five years and is estimated to resonate the trend during the forecast period.

The software market will grow at a CAGR of over 25% due to the growing demand for the third-party developers. These third-party developers are developing open-source 3D CAD software' compatible with a wide range of printers and technology. Furthermore, they are also collaborating with key 3D printing hardware and OEM manufacturers to eliminate the intricate software solutions that design hardware components based on software components.

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The Fused Deposition Modelling technology held over 50% market share in the 3D printing in automotive market in 2017. This growth is credited to technological advancements in composite materials used across FDM processes and its ability to print larger components.

The prototyping is expected to account for approximately 60% of the market share in the 3D printing in automotive market. The additive manufacturing technology enables faster development of prototypes and consumes less resources as compared to the conventional manufacturing technologies. Moreover, it also reduces the tooling costs as it allows manufacturers to use the same tooling equipment to develop a wide variety of models.

North America holds the major share in the 3D printing in automotive market. It held more than 40% share of the total revenue in 2017. The presence of major market players, such as Stratasys and 3D Systems, in the region is a primary factor supporting the market growth. The region has also witnessed higher R&D investments than other regions, which has further fostered the advancements in the 3D printing technology. Furthermore, supportive government initiatives will also foster the market growth. For instance, the U.S. government is constantly working with various private institutions and academic establishments to promote the use of additive manufacturing technologies in the region.

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Asia Pacific 3D printing in the automotive market is expected to grow substantially at a CAGR of over 30% during the forecast timespan. The industrialized countries, as well as emerging nations in the region, have introduced numerous initiatives to strengthen the productivity and competitiveness across the automotive manufacturing sector. In addition, countries including Singapore & China have allocated millions of dollars to commercialize the technology.

The 3D printing in automotive has portrayed a rapid growth over the last decade as the companies operating in the market have attracted investments to capitalize and commercialize the technology. The players in the market are introducing various strategic initiatives to expand their market share and strengthen their product portfolio. For instance, 2018 EOS & SLM Solutions collaborated with Audi to incorporate 3D printing technology across its manufacturing facility. This collaboration is aimed at developing new product offerings to gain an advantage over its competitors.

The key players in the market are 3D Systems, Arcam, Autodesk, Exone, FlashForge, Hoganas, HP Development Company, Monoprice, Optomec, Ponoko, Prusa Research, Stratasys, Voxeljet, WANHAO 3D PRINTER, XYZ Printing, Materialise, Nano Dimension, Proto Labs, SLM Solutions Group, Electro-Optical Systems, Concept Laser, and Renishaw.

Table of Contents

Chapter 1. Methodology & Scope

  • 1.1. Methodology
    • 1.1.1. Initial data exploration
    • 1.1.2. Statistical model and forecast
    • 1.1.3. Industry insights and validation
    • 1.1.4. Scope
    • 1.1.5. Definitions
    • 1.1.6. Methodology & forecast parameters
  • 1.2. Data Sources
    • 1.2.1. Secondary
      • 1.2.1.1. Paid sources
      • 1.2.1.2. Public sources
    • 1.2.2. Primary

Chapter 2. Executive Summary

  • 2.1. 3D printing in automotive industry 360 degree synopsis, 2013 - 2024
    • 2.1.1. Regional trends
    • 2.1.2. Hardware trends
      • 2.1.2.1. Printer trends
      • 2.1.2.2. Material trends
    • 2.1.3. Service trends
    • 2.1.4. Software trends
    • 2.1.5. Technology trends
    • 2.1.6. Application trends

Chapter 3. 3D Printing in Automotive Industry Insights

  • 3.1. Introduction
  • 3.2. Industry segmentation
  • 3.3. Industry landscape, 2013 - 2024
    • 3.3.1. 3D Printing Market
  • 3.4. Industry ecosystem analysis
  • 3.5. 3D printing market evolution
  • 3.6. Market news
  • 3.7. Technology and innovation landscape
    • 3.7.1. Hybrid printing
    • 3.7.2. Multi-material printing
    • 3.7.3. Direct metal printing (DMP)
  • 3.8. Use cases
    • 3.8.1. Fluid handling
    • 3.8.2. Exterior interior trim
    • 3.8.3. Manufacturing process
    • 3.8.4. Exhaust/emissions
    • 3.8.5. Powertrain & drivetrain
    • 3.8.6. Frame, body, doors
    • 3.8.7. OEM Components
    • 3.8.8. Electronics
    • 3.8.9. Wheels, tires & suspension
    • 3.8.10. Interior & seating
  • 3.9. Industry impact forces
    • 3.9.1. Growth drivers
      • 3.9.1.1. Abiltiy to develop more complex and higher quality products
      • 3.9.1.2. Cost effetive, fast custoization and faster time to market
      • 3.9.1.3. Supportive government initiatives
      • 3.9.1.4. Decline in the price of desktop printers
    • 3.9.2. Industry pitfalls & challenges
      • 3.9.2.1. Scalability
      • 3.9.2.2. Inabilty to manufacture larger parts and components
      • 3.9.2.3. Lack of skilled professionals
      • 3.9.2.4. Intellectual property concerns
  • 3.10. Growth potential analysis
  • 3.11. Porter's analysis
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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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