CHICAGO, July 11, 2022 /PRNewswire/ — According to new market research report “Automotive 3D printing market by vehicle type (ICE and electric vehicles), offering (hardware and software), component, material (metals, plastics, resin and composites), technology (SLA, SLS, EBM, FDM, LOM, 3DIP), application and region – Global Forecast to 2027“, published by MarketsandMarkets™, the automotive 3D printing market is expected to grow from $2.9 billion in 2022 at $7.9 billion by 2027, at a CAGR of 21.7%.
Growing demand for Connected, Autonomous, Shared, and Electric (CASE) vehicles, the need for low cost manufacturing, low volume parts production, complex structured components, and critical engine components that are difficult to produce with manufacturing methods conventional are driving the growth of automotive 3D printing.
Browse the in-depth table of contents at “Automotive 3D printing market”
176 – Tables
54 – Numbers
252 – Pages
Download the PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250218997
The ICE vehicle segment is expected to lead the vehicle type segment in the use of 3D printing technology due to high production volume.
The ICE vehicle segment is estimated to dominate the market during the forecast period. Increased demand for 3D printed automotive components in economy vehicles and advanced features in premium vehicles are the driving factor for ICE vehicle segment to dominate the market. Technological advancements in 3D printing and increasing production of vehicles in the industry are the key factor driving the overall growth of the automotive 3D printing market across all vehicle segments.
3D printing is estimated to be most widely used in ICE vehicles due to the high volume of ICE vehicles produced by the industry. The incorporation of additive manufacturing into ICE vehicles has grown rapidly with the wide choice of materials and the development of additive manufacturing technologies. Only simple research activities were carried out in the early stages, but developments have helped car manufacturers to use 3D printing for complex and critical components. Technology has helped automakers offer a wide range of finishes, textures, and even performance choices to their customers. Major automakers are even testing engine components such as pistons and engine heads with metal 3D printing to incorporate complex cooling channels to extend the efficiency, life and performance of their vehicles.
Plastics Segment is Expected to Hold the Largest Materials Segment Market Share in 2022
Plastic is expected to dominate the automotive 3D printing market as most interior and exterior automotive components are replaced by various plastic components. The main reasons for this change are the low cost and ease of manufacture associated with producing plastic components instead of metal components. Plastic 3D printing technologies are being incorporated for their production of plastic components by various major automobile manufacturers. These plastic components are easy to manufacture, offer a good surface finish and are compatible with many sub-components. The different types of plastic materials used for 3D printing are acrylonitrile butadiene styrene (ABS), nylon, polylactic acid and others. Applications of plastic printed parts in automotive include dashboard components, housings, brackets and several other interior and exterior components.
Request a FREE sample report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=250218997
North America is estimated to dominate the regional market
North America It is estimated to lead the automotive 3D printing market. The North American region includes the United States, Canadaand Mexico. Lower prototyping and R&D costs by the region’s leading automakers is a driving factor for North America to be a leader in the automotive 3D printing market. Traditionally, the development of physical prototypes is extremely expensive. It can vary from approx. $250,000 at $1 million per vehicle. Usually around 50-70 prototypes are built per development and automakers spend $10 billion per year on prototypes, cumulatively. These costs can be significantly reduced by integrating 3D printing technology for these applications. The increasing penetration of advanced and complex components in vehicles produced by the US automotive industry has also fueled the growth of 3D printed components. These goal-oriented materials that are produced with complex structural shapes cannot be produced using conventional manufacturing techniques. Leading 3D printing manufacturers such as 3D Systems, HP, Stratasys and others supply most of the major automotive manufacturers in the North America such as Ford, General Motors, Tesla and others. These automakers are integrating 3D printing for prototyping, R&D, and other production activities.
The Automotive 3D printing market is dominated by a few globally established companies such as Stratasys (Israel), 3D Systems (USA), EOS (Germany), Arcam AB (Sweden), Renishaw plc. (UK), HP (US), Materialize (Belgium). These companies have adopted several strategies to gain traction in the market.
Browse related reports:
Self-Driving/Autonomous Car Market by component (radar, LiDAR, ultrasonic and camera), vehicle (sedan, coupe and sports car, sedan, SUV), range level (L1, L2, L3, L4, L5), mobility type, EV and region – Global forecasts until 2030
Electric Vehicle (EV) Market by component, vehicle type, vehicle class, propulsion (BEV, PHEV, FCEV), vehicle drive type (FWD, RWD, AWD), maximum vehicle speed (125 mph), Charging Point Type, Vehicle Connectivity, End Use, Region – Global Forecast 2030
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats that will impact 70%-80% of global business revenue. Currently serving 7,500 customers worldwide, including 80% of global Fortune 1000 companies as customers. Nearly 75,000 senior executives from eight industries around the world approach MarketsandMarkets™ for their revenue decision issues.
Our 850 full-time analysts and MarketsandMarkets™ SMEs track global high-growth markets by following the “Growth Engagement Model – GEM”. The GEM aims for proactive collaboration with customers to identify new opportunities, identify most important customers, write “Attack, Avoid and Defend” strategies, identify additional sources of revenue for the company and its competitors. MarketsandMarkets™ now offers 1,500 MicroQuadrants (positioning top performers among Leaders, Emerging Companies, Innovators, Strategic Players) each year in high-growth emerging segments. MarketsandMarkets™ is determined to benefit over 10,000 companies this year for their revenue planning and help them bring their innovations/disruptions to market by providing research ahead of the curve.
MarketsandMarkets’ flagship competitive intelligence and market research platform, “Knowledge Store”, connects over 200,000 markets and entire value chains for a deeper understanding of unmet information, as well as market sizing and niche market forecasts.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
UNITED STATES: +1-888-600-6441
E-mail: [email protected]
Research overview: https://www.marketsandmarkets.com/ResearchInsight/automotive-3d-printing-market.asp
Visit our website: https://www.marketsandmarkets.com
Source of content: https://www.marketsandmarkets.com/PressReleases/automotive-3d-printing.asp
SOURCE Markets and Markets