3D Printing in Automotive Market 2023: Future Growth and Market Insights of Leading Key Players Like 3D Systems, Arcam, Autodesk, Exone, FlashForge, Hoganas, HP Development Company, Monoprice, Optomec, Ponoko, Prusa Research, Stratasys, Voxeljet, WANHAO 3

The latest 3D Printing in Automotive Market Research Report 2024 contains complete Industry outlook, market manufacturers and key statistics analysis. The industry sales & Share, industry’s trends are all discussed, explained and analyzed. It provides marketing strategy analysis, distributors/traders list, raw materials analysis, import and export analysis, Key success factors and Supply Chain Analysis.

Owing to the increasing demand for light weight automobiles that are more cost and energy efficient, the 3D printing in automotive market has been gaining major traction, a trend that is expected to continue over the forthcoming years. In the past 3D printing in automotive market was primarily characterized by the development of prototypes and for the ascertaining of their form and fit. But with the advent of more robust technologies like fused filament fabrication, 3D printing in automobiles has graduated from the formation of aesthetically pleasant but weak parts to end-use parts.

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For instance, recently, a pivotal manufacturer of high-performance automobiles, Bugatti, released its 3D-printed brake caliper, a product it has been working on for a year. The 3D-printed brake caliper would be installed it Bugatti’s high-speed models such as the Chiron and Divo. 3D printing can be an essential game changer in the automotive industry when it will come to be implemented on a much larger scale. As of now the technology is consolidated among a few leading OEMs but large scale and smaller players are rapidly entering the market for automobile parts and accessories.

3D printing offers a lot of flexibility to designers which results in rapid prototyping in the pre-manufacturing stage which leads to efficient Intellectual Property managements and saves time to drastically bring down turnaround time in the manufacturing stage. With the decreasing cost of 3D printing technology and lower turn around time, a reduction in overall production cost is expected which in turn leads to lower automobile costs. With such varied advantages as well as lower consumption and wastage of raw materials, it is predictable that the 3D printing in automotive market will register an extensive growth rate in the ensuing years.

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.

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.

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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.

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 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.

Report Content

Chapter 1. Methodology & Scope
Chapter 2. Executive Summary
Chapter 3. 3D Printing in Automotive Industry Insights
Chapter 4. Competitive Landscape
Chapter 5. 3D Printing in Automotive Market, By Component
Chapter 6. 3D Printing in Automotive Market, By Technology
Chapter 7. 3D Printing in Automotive Market, By Application
Chapter 8. 3D Printing in Automotive Market, By Region
Chapter 9. Company Profiles

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