Selbyville, Delaware, Nov. 06, 2024 (GLOBE NEWSWIRE) --
The automotive 3D printing market valuation is predicted to exceed USD 15.4 billion by 2032, reported in a research analysis by Global Market Insights Inc.
The automotive 3D printing industry is rapidly evolving, propelled by the emergence of high-performance materials like carbon-fiber-reinforced composites, titanium, and aluminum alloys. Automotive manufacturers are increasingly seeking these materials for parts that promise enhanced strength, durability, and performance. The industry's emphasis on these advanced materials is pivotal for crafting essential components, including structural parts, engine components, and custom tooling. Such innovations not only bolster vehicle functionality but also align with the contemporary demands of automotive design and manufacturing.
For instance, in March 2024, HP, in collaboration with Arkema, unveiled its latest 3D printing material, HP 3D HR PA 12. Tailored for HP’s Multi Jet Fusion technology, this material boasts superior heat resistance and durability.
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The automotive 3D printing market distinguishes between ICT and EV. Dominating the landscape, the ICE segment commands an 84.1% share. This dominance stems from the entrenched and widespread utilization of ICE vehicles, overshadowing their electric or hybrid counterparts. Given that ICE vehicles constitute the bulk of today's automotive fleet, there is a pronounced demand for aftermarket parts, custom components, and related prototyping. Moreover, the intricate nature and diverse range of parts in ICE vehicles spanning engine components, exhaust systems, and interior fittings underscores the necessity for advanced 3D printing solutions that facilitate customization and swift prototyping.
The automotive 3D printing market is segmented based on offerings into hardware, software, and services. In 2023, the hardware segment led the market with a commanding 66% share, spurred by the growing adoption of cutting-edge 3D printers and printing technologies. This segment expansion is largely due to the surging demand for high-performance 3D printers, adept at crafting intricate and durable automotive parts. Furthermore, innovations in hardware ranging from enhanced printing capabilities and precision to the incorporation of advanced materials have significantly bolstered segment growth.
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North America emerged as the front runner, capturing a notable 38% automotive 3D printing market share. This dominance is attributed to the region's swift adoption of advanced technologies and its robust automotive industry. Housing major automotive manufacturers and suppliers, North America witnesses significant investments in 3D printing, spanning prototyping, production, and customization. This momentum is further amplified by the region's unwavering commitment to innovation, bolstered by substantial research and development endeavors in 3D printing technologies.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definitions
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis, 2021 - 2032
Chapter 3 Automotive 3D Printing Market Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Material suppliers
3.2.2 3D printer manufacturers
3.2.3 Software providers
3.2.4 Technology developers
3.2.5 Service providers
3.2.6 End-user
3.3 Profit margin analysis
3.4 Pricing analysis
3.5 Cost breakdown analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news & initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising demand for automotive customization
3.10.1.2 Growing need for supply chain flexibility
3.10.1.3 Increasing integration of Artificial Intelligence (AI) and automation with 3D printing
3.10.1.4 Rising demand for lightweight components
3.10.2 Industry pitfalls & challenges
3.10.2.1 High upfront investment
3.10.2.2 Limited speed for large scale production
3.11 Growth potential analysis
3.12 Porter’s analysis
3.12.1 Supplier power
3.12.2 Buyer power
3.12.3 Threat of new entrants
3.12.4 Threat of substitutes
3.12.5 Industry rivalry
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
