Market Overview: –
The 3D printing market in automotive is propelled by the rise in the number of government and industry initiatives to sponsor the additive manufacturing technology. Several countries have developed national programs to support the university level research. For instance, the Canadian government has launched the Industrial Research Assistance Program (IRAP) to drive the use of 3D printing among small- and medium-sized organizations. 3D Printing in Automotive Market is anticipated to be over USD 8 billion by 2024. The growing need for developing complex and high-quality components while keeping the manufacturing costs low is a primary factor driving the demand for the 3D printing solutions in the automotive sector.
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Top Key Players:
The key players in the 3D printing market in automotive, Arcam, Autodesk, Exone, FlashForge, Hoganas, HP Development Company, Monoprice, Optomec, Ponoko, Prusa Research, Stratasys, Voxeljet, WANHAO 3D PRINTER, XYZ Printing, Materialise, Nano Dimension, Proto Labs, SLM Solutions Group, Electro-Optical Systems, Concept Laser, and Renishaw.
Market share calculation in this report is not done based on companies covered in it. The calculation of 3D printing market in automotive market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
Regional Segmentations: –
North America holds the major share in the 3D printing in automotive market. It held more than 40% share of the total revenue in 2017. The presence of major market players, such as Stratasys and 3D Systems, in the region is a primary factor supporting the market growth. The region has also witnessed higher R&D investments than other regions, which has further fostered the advancements in the 3D printing technology. Furthermore, supportive government initiatives will also foster the market growth. For instance, the U.S. government is constantly working with various private institutions and academic establishments to promote the use of additive manufacturing technologies in the region.
The Asia Pacific automotive 3D printing market is anticipated to achieve a growth rate of over 29% over the forecast timespan. The growth in the market is driven by the increasing investment by public & private establishments. The industrialized economies along with emerging nations in the region are exploring various opportunities for the advancement of the 3D printing technology in the automotive sector to strengthen the productivity & competitiveness.
Countries including India and China have invested heavily to commercialize the technology in the automotive sector. China has been investing in the additive manufacturing technology for over a decade and the Chinese authorities have committed millions of dollars to a seven-year project aimed at advancing the technology in the vertical.
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Partial Chapter of the Table of Content
Chapter 1. Methodology & Scope
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.6. Methodology & forecast parameters
1.2. Data Sources
22.214.171.124. Paid sources
126.96.36.199. Public sources
Chapter 2. Executive Summary
2.1. 3D printing in automotive industry 360º synopsis, 2013 – 2024
2.1.1. Regional trends
2.1.2. Hardware trends
188.8.131.52. Printer trends
184.108.40.206. Material trends
2.1.3. Service trends
2.1.4. Software trends
2.1.5. Technology trends
2.1.6. Application trends
Chapter 3. 3D Printing in Automotive Industry Insights
3.2. Industry segmentation
3.3. Industry landscape, 2013 – 2024
3.3.1. 3D Printing Market
3.4. Industry ecosystem analysis
3.5. 3D printing market evolution
3.6. Market news
3.7. Technology and innovation landscape
3.7.1. Hybrid printing
3.7.2. Multi-material printing
3.7.3. Direct metal printing (DMP)
3.8. Use cases
3.8.1. Fluid handling
3.8.2. Exterior interior trim
3.8.3. Manufacturing process
3.8.5. Powertrain & drivetrain
3.8.6. Frame, body, doors
3.8.7. OEM Components
3.8.9. Wheels, tires & suspension
3.8.10. Interior & seating
3.9. Industry impact forces
3.9.1. Growth drivers
220.127.116.11. Abiltiy to develop more complex and higher quality products
18.104.22.168. Cost effetive, fast custoization and faster time to market
22.214.171.124. Supportive government initiatives
126.96.36.199. Decline in the price of desktop printers
3.9.2. Industry pitfalls & challenges
188.8.131.52. Inabilty to manufacture larger parts and components
184.108.40.206. Lack of skilled professionals
220.127.116.11. Intellectual property concerns
3.10. Growth potential analysis
3.11. Porter’s analysis
3.12. PESTEL analysis
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The software market will grow at a CAGR of over 25% due to the growing demand for the third-party developers. These third-party developers are developing open-source 3D CAD software compatible with a wide range of printers and technology. Furthermore, they are also collaborating with key 3D printing hardware and OEM manufacturers to eliminate the intricate software solutions that design hardware components based on software components.
The Electron Beam Melting (EBM) technology in 3D printing market in automotive is expected to grow at a CAGR of over 28% during the forecast period. The technology utilizes high-power electron laser to melt & fuse metal alloy powders used for the fabrication of automotive components in accordance with the electronic data. The electronic laser managed by the electronic foils provides extremely fast & accurate beam control, enabling the manufacturers to maintain numerous melting points simultaneously. Furthermore, the electron laser heats the powder bed to optimal ambient temperatures specific to the material. Thus, the parts produced through the technology are free from residual stress.
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