What is 3D Printing Automotive Market?
3D printing, also known as additive manufacturing, is the process of creating three dimensional objects from a digital file using a printing machine. The growing adoption of 3D printing owing to its various advantages, such as innovative designing, high adaptability levels, less time to market, and the ability to manufacture parts without expensive tooling. The 3D printing automotive market is expected to witness a significant growth over the forecast period due to efficient logistic management and reduction of wastage.
Highlights from 3D Printing Automotive Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | 3D Systems (United States), Stratasys (United States), Optomec (United States), ExOne (United States), Arcam (Sweden), Voxeljet AG (Germany), Ponoko Limited (New Zealand), Hoganas AB (Sweden), Envisiontec (Denmark) and Autodesk, Inc. (United States) |
CAGR | 26.39% |
3D Printing Automotive market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA predicts that United States and German Manufacturers will contribute to the maximum growth of Global 3D Printing Automotive market throughout the forecasted period.
3D Systems (United States), Stratasys (United States), Optomec (United States), ExOne (United States), Arcam (Sweden), Voxeljet AG (Germany), Ponoko Limited (New Zealand), Hoganas AB (Sweden), Envisiontec (Denmark) and Autodesk, Inc. (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Ultimaker (Netherlands), SLM Solutions Group AG (Germany) and Concept Laser (Germany). 3D Printing Automotive Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Prototyping & Tooling, R&D and Innovation and Manufacturing Complex Products |
Technology | Selective Laser Sintering (SLS),Stereo Lithography,Digital Light Processing (DLP),Electronic Beam Melting (EBM),Selective Laser Melting (SLM),Fused Deposition Modeling (FDM) |
Material | Metals,Polymer,Ceramics |
On the basis of application, Prototyping & tooling segment is dominating the market in the year 2022 where as Manufacturing complex products segment stood as second largest market.
On the basis of geography, the market of 3D Printing Automotive has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, Sweden, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Innovation in New Printing Materials for 3D Printing
Market Growth Drivers:
Government Supports in 3D Printing-Related R&D projects and Reduction in Costs & Time of Rapid Prototyping
Challenges:
Limitations in Material Composition, Printing Speed & Prototyping
Restraints:
Standardization Issues of 3D Printing Materials and Limited Availability and High Cost
Opportunities:
Untapped Market for 3D Printing Applications in Asia Pacific Region
Key Target Audience
Manufacturers 3D Printing Automotive, Automotive OEM’s, Traders, Distributors and Suppliers of 3D Printing Automotive, Consulting Companies and Research Organizations, Research Institutes, Industry Associations and Research Firms
Market Leaders & Development Strategies
In 2021, Stratasys has launched a 3D printer that, combined with the company's Polyjet realism and precision technology, enables 3D printing efficiencies in dental labs. The J5 Denta Jet 3D Printer is a multi-material dental 3D printer that allows technicians to load a mixing tray of dental parts. The new 3D printer has only 4.6 sq ft (0.43 sq m) of floor space and can produce at least five times more dental parts than competing 3D printers on a single mixing tray. and On 10 Sep, 2018 - Stratasys announced collaboration with Team Penske and providing an up-close look at new carbon-fiber 3D printers for empowering customers to transform traditional manufacturing processes.
In 2021, Renishaw worked with DOMIN, a manufacturer of hydraulic systems and direct drive servovalves, to develop high-performance servovalves. Working together, DOMIN increased productivity and reduced cost per part with Renishaw's RENAM 500Q, a four-laser AM system designed for serial production applications. and On 13 Nov, 2018 - 3D Systems, the originator of 3D printing, announced the DMP Flex 350 and DMP Factory 350 the company’s latest additions to its proven DMP metal 3D printing platform which is designed for volume production of critical components for industrial applications like aerospace, healthcare and transportation