Overview
and Scope
Automotive 3D printing refers to a process through which automotive designers
can quickly fabricate a three-dimensional prototype of a physical part or
assembly, from a simple interior element to a dashboard or even a scale model
of an entire car using a printing machine. Rapid prototyping enables companies
to turn ideas into convincing proofs of concept. The automotive 3D printing is
used to make molds and thermoforming tools, rapid manufacturing of grips, jigs,
and fixtures, and exterior and interior components of vehicles as well as to
produce samples and tools at low costs and to eliminate future losses in
production when investing in high-cost tooling.
Sizing and Forecast
The automotive 3d printing market size has grown exponentially in recent years.
It will grow from $2.91 billion in 2023
to $3.62 billion in 2024 at a compound
annual growth rate (CAGR) of 24.4%. The
growth in the historic period can be attributed to customization and
personalization, rapid prototyping, complex geometries, reduced material waste,
supply chain optimization.
The automotive 3d printing market size is expected to see exponential growth in
the next few years. It will grow to $8.37
billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be
attributed to cost reduction spare parts production, sustainable manufacturing,
regulatory compliance, metal 3d priniting. Major trends in the forecast period
include mass customization, lightweighting, complex geometries, supply chain
optimization, spare parts production.
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Segmentation & Regional Insights
The automotive 3d printing market covered in this report is segmented –
1) By Component: Interior components, Exterior components
2) By Vehicle Type: ICE vehicles, Electric vehicles
3) By Material: Metals, Plastic, Composites and Resins
4) By Application: Prototyping And Tooling, Research, Development And
Innovation, Manufacturing Complex Components
5) By Technology: Stereolithography (SLA), Selective Laser Sintering (SLS),
Electron Beam Melting (EBM), Fused Deposition Modeling (FDM), Laminated Object
Manufacturing (LOM), Three-Dimensional Inject Printing
North America was the largest region in
the automotive 3D printing market in 2023 and North America is expected to be the fastest-growing region
in the automotive 3D printing market share forecast period. The regions covered
in the automotive 3d printing market report include Asia-Pacific, Western
Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The impressive growth of electric vehicles had propelled the growth of the
automotive 3d printing market. An electric vehicle (EV) is defined as a machine
that operates on an electric motor, instead of an internal-combustion engine
that generates power by burning a mix of fuel and gases. For instance, in July
2022, according to the most recent car statistics, the market for electric
vehicles (EVs) is booming. Sales of electric passenger cars grew by 186% in
2020, and in 2021, EV sales set a record against a market that was 28.7% below
pre-COVID-19 levels. In all, 1.65 million new cars were registered in 2021, an
increase of 1% over 2020, as a result of the pandemic's continuing effects and
the global shortage of semiconductor chips. In spite of this, plug-in hybrid
electric vehicles (PHEVs), which made up 7% of total new car sales with 114,554
vehicles, and battery electric vehicles (BEV), which had 190,727 registrations,
sold more than they had over the previous five years combined (2016–2020).
Therefore, the rising demand for electric vehicles is driving the growth of the
automotive 3d printing market.
Key Industry Players
Major companies operating in the automotive 3d printing market include 3D Systems Corporation, Autodesk Inc., Desktop
Metal Inc., Electro Optical Systems (EOS) GmbH, General Electric Company,
EnvisionTEC GmbH, Stratasys Ltd., Materialise NV, Ultimaker BV, Voxeljet AG,
Hoganas AB, SLM Solutions Group AG, Renishaw plc, Arcam AB, Optomec Inc.,
XYZprinting Inc., Carbon Inc., Hewlett-Packard Incorporated, Markforged Inc.,
Nano Dimension Ltd., Prodways Group, Tiertime Corporation, Beijing Long Yuan
Automated Fabrication System Co. Ltd., Concept Laser GmbH, Cookson Precious
Metals Ltd., CRP Technology S.r.l., DWS Systems S.r.l., ExOne Company
The automotive 3d printing market report
table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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