The global Automotive 3D Printing Market size is 2.9 billion USD in 2022 and is projected to reach a CAGR of 22.9% from 2023-2030.
3D printing, also referred to as additive manufacturing, comprises printing layer by layer from a 3D CAD model. 3D printing aids in the reduction of lead time as well as cost for prototyping and manufacturing complex parts. 3D printing is used in the automotive sector for applications such as design & concept of communication, prototyping validation, preproduction sampling & tooling, and customization of parts. The materials utilized for automotive 3D printing include several types of polymers, metals, ceramics, and others. The selection of printing material depends on traits expected from printed objects.
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Growth in the need to reduce vehicle weight, production cost & development time, increase in the use of 3D printing for quick prototyping & development of complex parts, and greater demand for customized automotive parts drive the growth of the market. Furthermore, increased investments in R&D and technological advancements are expected to offer growth opportunities during the forecast period.
The Prominent Players in the Automotive 3D Printing Market are:
· 3D Systems Corporation
· Autodesk, Inc.
· Desktop Metal, Inc.
· EOS GmbH
· General Electric Company
· Hoganas AB
· Materialise NV
· Stratasys, Ltd.
· Ultimaker BV
· Voxeljet AG and More
Recent Developments
In May 2022, Renishaw launched a new range of RenAM 500 3D printing machinery. The RenAM 500S Flex which is a single laser 3D printing machine and the RenAM 500Q Flex, which is a four-laser 3D printing machine. Both the systems featured a simplified powder handling system, which is suited for research and development (R&D), pre-production or bureau environments.
In February 2022, 3D Systems added extrusion technology to its solution portfolio with the acquisition of Titan Additive LLC, a market leader in polymer extrusion technology. This will broaden the range for its customers.
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North America to Dominate the Market
· North America is estimated to hold the largest share of the global 3D printing market; this can be attributed to the continuous technological advancements in this field and hundreds of carmakers in the region.
· The major reason for this is the usage of additive manufacturing by leading automotive manufacturers extensively for their R&D, such as prototyping and fixtures. The main factor for using 3D printing in R&D is the cost-effectiveness of the technology. The polymers printed by 3D printers can be recycled for optimum usage.
Automotive 3D Printing Market is segmented into various segments such as application, technology, material, offering, component, vehicle type, and region:
On the basis of application
· Prototyping & Tooling
· Research, Development & Innovation
· Manufacturing Complex Components
· Others
On the basis of technology
· Stereolithography (SLA)
· Selective Laser Sintering (SLS)
· Electron Beam Melting (EBM)
· Fused Deposition Modeling (FDM)
· Laminated Object Manufacturing (LOM)
· Three-Dimensional Inject Printing
· Others
On the basis of material
· Metals
· Plastic
· Composites and resins
· others
On the basis of the offering
· Hardware
· Software.
On the basis of component
· Interior components
· Exterior components
On the basis of vehicle type
· ICE vehicles
· Electric vehicles
On the basis of region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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