3D printing process comprises manufacturing of part or object, layer by layer from a computer aided design (CAD) model. Automotive 3D printing is based on additive manufacturing process, involving layer-by-layer deposition of materials. Different types of materials such as polymers, metals, and ceramics are utilized in 3D printing process. The ease of printing complex parts with high degree of precision drives the adoption of 3D printing in the automotive industry.
The utilization of materials such as polymers and metals is done in an efficient manner with no excess material wastage. 3D printing is utilized to produce smaller and more complex products. With the emergence of electric vehicle, the demand for lighter, stronger, smaller, and more complex automotive parts has been rising. 3D printing technologies are capable of fulfilling such demand with reduction in production time and cost.
Growth in need to reduce vehicle weight, increase in use of 3D printing for quick prototyping & development of complex parts, and greater demand for customized automotive parts are the factors that drive the growth of the market. However, high initial cost and lack of expertise & skilled labors are factors that hamper the growth of the market. Increased investments on R&D and technological advancements are expected to accelerate the growth of this market.
The report segments the automotive 3D printing market on the basis of component, application, propulsion, and region. The component segment provides insights into technology, material, and services. The technology segment is further divided into material extrusion, powder bed fusion, vat photopolymerization, material jetting, direct energy deposition, and binder jetting. The material segment is further categorized into polymers, metals, and others. The application segment included in the report covers prototyping, tooling, jigs & fixtures, end-use parts, and others. The propulsion segment has been divided into ICE vehicles, electric vehicles. Moreover, it summarizes the details about revenue generated across regions such as North America, Europe, Asia-Pacific, and LAMEA.
The utilization of materials such as polymers and metals is done in an efficient manner with no excess material wastage. 3D printing is utilized to produce smaller and more complex products. With the emergence of electric vehicle, the demand for lighter, stronger, smaller, and more complex automotive parts has been rising. 3D printing technologies are capable of fulfilling such demand with reduction in production time and cost.
Growth in need to reduce vehicle weight, increase in use of 3D printing for quick prototyping & development of complex parts, and greater demand for customized automotive parts are the factors that drive the growth of the market. However, high initial cost and lack of expertise & skilled labors are factors that hamper the growth of the market. Increased investments on R&D and technological advancements are expected to accelerate the growth of this market.
The report segments the automotive 3D printing market on the basis of component, application, propulsion, and region. The component segment provides insights into technology, material, and services. The technology segment is further divided into material extrusion, powder bed fusion, vat photopolymerization, material jetting, direct energy deposition, and binder jetting. The material segment is further categorized into polymers, metals, and others. The application segment included in the report covers prototyping, tooling, jigs & fixtures, end-use parts, and others. The propulsion segment has been divided into ICE vehicles, electric vehicles. Moreover, it summarizes the details about revenue generated across regions such as North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the global automotive 3D printing market analysis along with the current trends and future estimations to depict imminent investment pockets
- The overall automotive 3D printing market opportunity is determined by understanding profitable trends to gain a stronger foothold
- The report presents information related to the key drivers, restraints, and opportunities ofthe global automotive 3D printing market with a detailed impact analysis
- The current automotive 3D printing market is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry
KEY MARKET SEGMENTS
By Component
- Technology
- Material Extrusion
- Powder Bed Fusion
- Vat Photopolymerization
- Material Jetting
- Direct Energy Deposition
- Binder Jetting
- Material
- Polymers
- Metals
- Others
- Services
By Application
- Prototyping
- Tooling, Jigs & Fixtures
- End-Use Parts
- Others
By Propulsion
- ICE Vehicles
- Electrical Vehicles
By Region
- North America
- Europe
- Asia-Pacific
- LAMEA
- KEY PLAYERS
- 3D Systems Corporation
- Autodesk, Inc
- Desktop Metal, Inc
- EOS GmbH
- General Electric Company
- Hoganas AB
- Materialise NV
- Stratasys, Ltd
- Ultimaker BV
- Voxeljet AG
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Automotive 3D Printing Market, by Component
Chapter 5: Automotive 3D Printing Market, by Application
Chapter 6: Automotive 3D Printing Market, by Propulsion
Chapter 7: Automotive 3D Printing Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a recent report titled, “Automotive 3D Printing Market by Component, Application, and Propulsion: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global automotive 3D printing market was valued at $1,664.0 million in 2020, and is projected to reach $13,022.4 million by 2030, registering a CAGR of 23.7% from 2021 to 2030.Europe is expected to dominate the automotive 3D printing market during the forecast period owing to presence of established automotive industry, rising demand for passenger vehicles, and investments in R&D associated with automotive 3D printing. In addition, CECIMO (European association of machine tool industries and related manufacturing technologies) has reported positive results for additive manufacturing market in Europe resulting in increased import & exports activities.
On the basis of propulsion, the automotive 3D printing market is segmented into ICE vehicles, and electric vehicles. With the introduction of electric vehicle & autonomous vehicle, surge in the demand for smaller and complex automotive parts is observed. 3D printing can aid in manufacturing complex products at a faster pace with greater accuracy through its layer by layer manufacturing process. Few automobile manufacturers have already started utilizing 3D printing technology to produce electric vehicle. For instance, in 2020, XponentialWorks collaborated with Arcimoto to design and fabricate lightweighted components using 3D printing technology to enhance performance of electric vehicles.
Based on application type, the automotive 3D printing market is segregated into prototyping, tooling, jigs & fixtures, end-use parts, and others. The application of 3D printing for manufacturing of end-use parts is expected to increase during the forecast period owing to significant time and cost reduction as compared to traditional methods. The auto manufacturers have started using 3D printing technology for developing components with complex and unusual geometries. The application of 3D printing in automotive industry is anticipated to increase in the future owing to its ability to manufacture light weight and cost effective end-use parts. Volkswagen has been utilizing 3D printing technologies for past 25 years to produce automotive parts for its vehicles.
The significant factors that impact the growth of the automotive 3D printing market include growth in need to reduce vehicle weight, production cost & development time, increase in use of 3D printing for quick prototyping & development of complex parts, and greater demand for customized automotive parts. Moreover, high initial cost and lack of expertise & skilled labors hinder the market growth. Rise in investments on R&D and technological advancements are expected to offer growth opportunities during the forecast period.
COVID-19 Impact Analysis
The COVID-19 crisis has created uncertainty in the automotive 3D printing market, massive slowdown of supply chain, falling business confidence, and increased panic among the customer segments. Governments of different regions announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.
Automotive markets experienced weak demand in Europe and Asia resulting in weak printer shipments. Most 3D printing companies shifted their focus on services to assist in printing of medical equipment during the pandemic. However, some automotive manufacturers adopted additive manufacturing to overcome supply chain issues, and offer localized & decentralized production. Several market players adopted in-house 3D printing for on-demand production of tools, jigs, and fixtures.
Surge in sale of electric vehicles during the pandemic is expected to increase the demand for automotive 3D printing. 3D printing offers greater level of customization in manufacturing of electric vehicles with lighter parts to extend battery life, greater material options, improved thermal capabilities, and superior value in low-volume production with quicker speed to market.
Key Findings Of The Study
- By component, the technology segment is anticipated to exhibit significant growth in the near future
- By application, the end-use parts segment is anticipated to exhibit significant growth in the near future
- By propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future
- By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period
Key players operating in the global automotive 3D printing market include 3D Systems Corporation, Autodesk, Inc., Desktop Metal, Inc., EOS GmbH, General Electric Company, Hoganas AB, Materialise NV, Stratasys, Ltd, Ultimaker BV and Voxeljet AG
Companies Mentioned
- 3D Systems Corporation
- Autodesk, Inc.
- Desktop Metal, Inc.,
- EOS GmbH
- General Electric Company
- Hoganas AB
- Materialise NV
- Stratasys, Ltd.
- Ultimaker BV and Voxeljet AG.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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