Global 3D Printing Automotive Market Size By Technology (Stereolithography, Electronic Beam Melting, Fused Deposition Modeling), By Material Type (Metal, Polymer), By Application (Production, Prototyping), By Geographic Scope And Forecast

3D Printing Automotive Market Size And Forecast

3D Printing Automotive Market size was valued at USD 19.18 Billion in 2020 and is projected to reach USD 65.57 Billion by 2028, growing at a CAGR of 19.2% from 2021 to 2028.

The 3D printing technology adopted by the automotive industries to lower the turnaround time, manufacturing costs, reduction of material wastage, and increase the production rate. This technology is used for applications that range from manufacturing complex automotive parts in a shorter period in comparison with conventional printers to printing these parts and other accessories. Automotive 3D printing is made of materials that include various types of metals, polymers, ceramics, and many others. The Global 3D Printing Automotive Market report provides a detailed evaluation of the market. The report offers a complete analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing an important role in the market.

Global 3D Printing Automotive Market Definition

3D printing in the automotive market is propelled by the growing requirements in the automotive sector for cost-effective and efficient technology that develops high-quality and complex products. The technology has now enabled the development of products, that was technically not possible earlier with the traditional methods. The building mechanism of the additive manufacturing technology allows the freedom of design and enables the integration of internal components under previously inaccessible surfaces and other parts. It enables the manufacturers to combine parts for integrated functionality that will improve the performance and durability of the product while keeping the costs low.

The benefits of 3D printing include innovative conception, high adjustability levels, the minimum time is taken to manufacture, and the capability to fabricate parts without high-priced tooling. With 3D printing, OEMs are currently in positions to print a prototype overnight at a minimal expense, this is because 3D printers drastically reduce the time taken to create a prototype. Industry giants such as General Motors have a number of the foremost extensive 3D printing capabilities, they operate more than 50 rapid prototyping machines, which have created over 250,000 parts in the last decade.

However, 3D printing is now more than just prototyping, it is about additive manufacturing which is a term that describes the process in which 3D printers construct an object in layers of material to produce parts that are available for immediate application. The adoption of additive manufacturing is increasingly becoming attractive in the automotive industry due to its capability to print in alloys and metals, besides traditional models that work with plastic resins. Construction of customized parts, reduction in time and cost of production, decreasing human errors, and greater resolution are a few factors that fuel the growth of the global market. Nevertheless, huge printing costs and scarcity of skilled labor are some factors that limit the market growth.

Global 3D Printing Automotive Market Overview

Growing technological advancements, increasing need to manufacture complex designs within a short period, and growing demand for reduction of cost & time in product development are the major factors contributing to the market growth. Moreover, increasing government investments in research & development projects related to 3D printing is also expected to boost market growth. However, the standardization issues, limited availability, and high cost of 3D printers coupled with lack of skilled labor are some of the factors restraining the market growth. Advancements in new techniques and materials employed in additive manufacturing create new frontiers for 3D printing in the automotive sector.

Local Motors is one of the first manufacturers to commercialize 3D printing in the automotive industry by manufacturing chassis and body parts using these printers. Ford Motor Company employs 3D printers to produce prototypes of resin, silica powder, sand, and even metal vehicle parts. Peugeot created its interior, i-Cabin for its Fractal concept car using 3d printing technology. For effective production, optimization and adoption of additive manufacturing techniques such as 3D printing are inevitable for automakers. Using this technology for prototyping has proved to be a highly cost-efficient and time-saving achievement in the sector.

The FDM is one of the most commonly used methods of 3D printing in the automotive industry. The flexibility of the method used for manufacturing the prototypes, concept model parts, and final products helps it helps in the maintenance of a significant share in the 3D Printing Automotive Market. This computer-aided methodology derives inputs from a processing unit for the model, which it has to print and starts the printing process bottom-up. Materials like thermoplastics are used in the process, which results in ultra-light final products. Advanced high-performance engineering-grade thermoplastics are used in the process to produce tough, strong, and incredibly light products.

Global 3D Printing Automotive Market Segmentation Analysis

The Global 3D Printing Automotive Market is segmented on the basis of Technology, Material Type, Application, And Geography.

3D Printing Automotive Market, By Technology

• Stereolithography
• Electronic Beam Melting
• Fused Deposition Modeling
• Others

Based on Technology, The market is segmented into Stereolithography, Electronic Beam Melting, Fused Deposition Modeling, and Others. The Fused Deposition Modeling (FDM) technology accounts for more than 50% stake in 3D Printing Automotive Market. The market is attributed to advancements in the composite materials used in FDM processes. Its ability to print larger parts at higher deposition rates has encouraged multiple companies to conduct R&D activities to improve the mechanical attributes.

3D Printing Automotive Market, By Material Type

• Metal
• Polymer
• Others

Based on Material Type, The market is segmented into Metal, Polymer, and Others.

3D Printing Automotive Market, By Application

• Production
• Prototyping
• Others

Based on Application, The market is segmented into Production, Prototyping, and Others.

3D Printing Automotive Market, By Geography

• North America
• Europe
• The Asia Pacific
• Rest of the world

Based on Regional Analysis, The Global 3D Printing Automotive Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America is dominating the 3D Printing Automotive Market with a share of more than 45% in 2017. The growth is attributed to the high R&D spending by public and private sector organizations. The government in the region is also working with private establishments & academic institutions to promote the use of additive manufacturing technologies among manufacturers. In addition, the technology was predominantly developed in the region due to the existence of numerous providers of 3D printing services such as 3D Systems and Stratasys.

Key Players

The "Global 3D Printing Automotive Market" study report provides valuable insight with an emphasis on the global market. The major players in the market are 3D Systems Corporation, ARCAM AB, Autodesk Inc, EnvisionTEC, Optomec Inc., Ponoko Ltd, Stratasys Ltd, The Exone Company, Voxeljet AG, Materialise NV.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.