Automotive 3D printing market worth $7.9 billion by 2027

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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.

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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.

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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.

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