New York, US, June 15, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “3D Printing in Automotive Market Information By Technology, By Application, and Region - Forecast till 2030”, The 3D printing in automotive market will touch USD 9.7 billion in 2030 after having reached USD 2.97 billion in 2022, at a rate of 15.94% from 2022 to 2030.
3D Printing in Automotive Market Overview
The ability to quickly prototype products has been one of the most impressive uses of 3D printing technology in the automotive sector, which has also led to an increase in the manufacture of finished auto parts on a larger scale and the 3D fabrication of practically entire vehicles.
FFF (Fused Filament Fabrication) is currently one of the most well-liked and often utilized 3D printing technologies in the automotive industry. Its benefit is the ability to use a variety of materials with qualities similar to plastics. The required components and details may be produced using a 3D printer, allowing businesses to not only maintain production continuity—which is crucial in today's market—but also to eliminate the need for outside suppliers and streamline their manufacturing procedures.
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3D Printing in Automotive Market Competitive Landscape:
The major vendors part of 3D printing in the automotive industry are
- Autodesk
- 3D Systems Inc
- Stratasys Ltd
- Arcam AB
- EnvisionTEC Inc
- Exone
- Voxeljet AG
- Local Motors
- Ponoko Ltd
- Optomec
- Among others.
These businesses are renowned for using a variety of tactics and monitoring every market development and trend that might assist them improve their commercial standings. The best tactics include joint ventures, contracts, mergers, and new product introductions.
Market USP Covered:
3D Printing in Automotive Market Restraints:
Significant initial costs as well as a lack of knowledge and experienced labor are predicted to impede industry expansion. Having said that, it is anticipated that during the projection period, higher R&D investments and technological developments will present growth prospects.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 9.7 billion |
| CAGR during 2022-2030 | 15.94% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Technology, Application, and Region |
| Key Market Opportunities | Increasing at a rapid pace with a surge in demand |
| Key Market Dynamics | Lightweight body material Increasing investment |
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3D Printing in Automotive Market Drivers:
Iron and steel alloys, which are both tough but heavy materials, were traditionally used to make a number of vehicle parts. However, improvements in manufacturing techniques have allowed automakers to switch out old metal parts for new ones made of aluminum, carbon fiber, and other composite materials. These lightweight materials lessen the weight of the vehicle, which enhances its fuel efficiency. Additionally, by reducing lead times, printing costs, and development times, additive manufacturing, also known as 3D printing, helps with the production of automotive parts. For instance, in order to lower the overall weight of the car, Bugatti has included some 3D printed components in its "Divo Supercar." The new Bugatti model is lighter than the previous model thanks to printed fin rear lights.
Automotive parts may be produced more quickly with the help of 3D printing. To cut down on production time and costs, automakers are concentrating on prototypes to meet high-performance demands including greater aerodynamics, connectivity, and fuel efficiency. More and more complicated parts are being developed via 3D printing. In order to reduce costs and labor hours, Ford has 3D printed approximately 500,000 parts over the previous few years. Additionally, the development of electric vehicles and driverless vehicles has increased the demand for smaller, more sophisticated structures, which is fueling the expansion of automotive 3D printing.
3D Printing in Automotive Market COVID 19 Analysis
The COVID-19 outbreak caused market anxiety, a significant slowdown in the supply chain, and temporary industry shutdowns. sluggish demand for automotive products in Europe and Asia led to sluggish printer shipments. The majority of 3D printing businesses have changed their emphasis to providing services to aid in the manufacture of medical supplies during the pandemic. However, some automakers have embraced additive manufacturing to provide localized and decentralized production while resolving supply chain difficulties. A number of industry participants have embraced internal 3D printing for the creation of tools, jigs, and fixtures as needed.
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3D Printing in Automotive Market Segmentation
By Technology
Stereolithography (SLA), Laser Sintering, Electron Beam Melting, Laminated Object Manufacturing, and Others are among the technologies included in the 3D Printing in Automotive market segmentation. In the 3D printing market, stereolithography had a substantial market share and is predicted to continue to do so during the projected period. SLA 3D printing, sometimes referred to as stereolithography, is one of the most well-liked and frequently employed additive manufacturing processes. The necessary 3D shape can be produced by hardening liquid resin that is kept in a reservoir using laser energy. In photosensitive liquid layers, solid plastic layers are formed using photopolymerization with a low-power laser. Due to its capacity to produce exact prototypes, parts, and components from a variety of cutting-edge materials with smooth surfaces, this type of 3D printing, also known as resin 3D printing, has gained popularity. SLA 3D printing is used by businesses like Gillette, for instance, to create consumer goods like 3D-printed razor handles as part of their Razor Maker platform.
By Application
3D Printing in the automotive sector has many applications, such as R&D Activities, Manufacturing, Prototyping and Tooling, and Others. The prototyping and tooling segment is in the lead and will maintain the same momentum in the future as well. The key drivers behind this are the prototype's rapid production, relatively straightforward procedure, cost-reduction, filament alternatives, design modification flexibility, and reduced waste. Prototypes currently demand the quickest lead times, the least amount of money, and the least amount of waste compared to old methods. Design revisions are always feasible since only the final CAD design is transmitted for printing. Since there are more filament options available, prototypes may now be manufactured from a variety of materials and tested in a variety of settings.
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3D Printing in Automotive Market Regional Insights
North America now holds the greatest market share, followed by Europe and Asia-Pacific, mostly due to the region's early adoption of the technology. Due to the huge number of OEM firms who devote a sizeable amount of their revenue to R&D, North America, and Europe dominate the business. To minimize turnaround times, material waste, and manufacturing costs, increase production rates, and shorten overall durations for quick prototyping of automotive parts, several automakers are investing in 3D printing to create customized car parts.
Weak printer shipments are being caused by weak demand in the European and Asian automotive markets. The majority of 3D printing businesses have changed their emphasis to providing services to aid in the manufacture of medical supplies during the pandemic. However, some automakers have embraced additive manufacturing to provide localized and decentralized production while resolving supply chain difficulties. A number of industry participants have embraced internal 3D printing for the creation of tools, jigs, and fixtures as needed. The market for automotive 3D printing is anticipated to rise because of an increase in electric vehicle sales during the epidemic.
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