3D Printing Automotive Market to Surpass USD4079.76 Million by 2026
Upsurging demand for customization using 3D printing
and increased demand for vehicle production using 3D printer across the world
to drive global 3D printing automotive market.
According to
TechSci Research report “3D Printing Automotive Market - Global Industry Size, Share,
Trends, Competition, Opportunity, and Forecast, 2016-2026”, Global
3D printing automotive market is anticipated to grow at a CAGR of 19.55% in
value terms, in the next five years to reach USD4079.76 million by 2026. 3D
printing, also known as additive manufacturing, is gaining prominence in the
automotive industry due to its application in the manufacturing of automotive
components. The technology can be used for manufacturing prototypes of
automotive seats, and components of the exhaust system, among others. In
comparison to the traditional process of manufacturing components, 3D printing
process is quick with reduced overall product development time, and improved
efficiency. Technologies used for 3D printing include Stereolithography (SLA),
Selective Laser Sintering (SLS), PolyJet, Digital Light Processing (DLP), Multi
Jet Fusion (MJF), Fused Deposition Modeling (FDM), Direct Metal Laser Sintering
(DMLS), Electron Beam Melting (EBM), etc.
By utilizing 3D
printing to make models a long time before the final production, automakers can
test for quality prior to the actual production plan. Given the design
adaptability of 3D printing, organizations can construct and test a huge
variety of models. General Motors, for instance, utilizes the 3D printing
technologies of specific laser sintering (SLS) and stereolithography (SLA)
widely in its preproduction and configuration processes across its functional
areas—design, engineering and production with its fast-prototyping department
delivering test models of more than 20,000 parts. Thus, 3D printing is
expediting production in the automotive sector.
Browse more
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3D Printing Automotive Market."
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Global 3D
Printing Automotive market can be segmented based on material, technology,
application, company and region. In terms of material, the market can be
segmented into polymer, metal and others. The polymer segment led the market in
2020 with a share of 47% and the segment is expected to grow at the highest
CAGR through 2026. Due to flexibility and high strength, polymers are preferred
over metal, thereby, driving the market through 2026. Automobiles consist of a
broad range of plastic 3D printed parts and also plastic materials are used
more as compared to any other materials in 3D printing methods inside the
automotive industry. Additionally, materials like Acrylonitrile butadiene
Styrene (ABS) filaments are one of the most frequently used plastics for 3D
printing car components and are frequently used within the bodywork of
vehicles. Following polymer, metal segment is anticipated to account for the
largest share in 2026. Metal can withstand high temperature and pressure,
making them the perfect choice for the 3D printing process.
Some of
the major players operating globally in 3D printing automotive market are:
- 3D Systems, Inc.
- Voxeljet AG
- Stratasys Ltd.
- Höganäs AB
- EOS GmbH Electro Optical Systems
- GE Additive
- Autodesk, Inc.
- 3DGence
- Optomec, Inc.
- Ultimaker B.V.
- Materialise NV
Companies
operating in the 3D printing automotive market are focusing on material and
software advancement so that 3D printing process is more efficient and can be
used for producing high quality material. In the similar front, 3D systems
announced in 2021 an agreement to acquire Oqton, a software company, with
USD180 million that is a leader in the creation of new breed of intelligent,
cloud-based manufacturing operating system platform. In the same year, 3D
systems advanced production application by introducing high-throughput 3D
printing technologies, a new partnership to provide industry-leading
post-processing, improved additive manufacturing software, and new
production-grade photopolymer.
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“North
America region holds the major share in the 3D printing automotive market with
36.90% share in 2020, led by the United States, as the country holds the major
share in the North America region with 76.04% share. North America is the key
market in manufacturing automobiles and auto parts using 3D printing
technology. The US automotive industry frequently uses 3D printing technologies
for rapid prototyping. It is also commonly used for complex, high-value, or
custom parts for antique cars. Luxury and customized vehicle business is more
prominent in North America. Motorsports such as NASCAR and Formula 1 have also
been a field for the application of this technology due to the high demand for
performance and weight reduction in the automotive industry.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“3D Printing Automotive Market - Global Industry
Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026, Segmented By Material (Metals, Polymer and Others), By
Technology (Stereolithography,
Fused Disposition Modelling, Selective Laser Sintering, Laminated Object
Manufacturing, Three Dimensional Inject Printing and Others), By Application (Prototyping & Tooling,
Manufacturing Complex Components, Research, Development & Innovation and
Others), By Region”, has evaluated the
future growth potential of global 3D printing automotive market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global 3D printing automotive market.
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