Additive printing technology or 3D printing allows manufacturers to build models using a variety of printing materials. Though 3D printing technology is in its nascent stage in automotive sector, the automotive 3D printing Market is expected to gain traction in the coming years. The reduction in lead time as well as costs would drive the adoption of automotive 3D printing for prototyping and manufacturing complex parts.
The materials used for automotive 3D printing include various types of polymers, metals, ceramics, and others. The selection of printing material depends on the traits expected from printed object. There are certain 3D printers that print models using multiple materials simultaneously according to requirements, thereby making the manufacturing process easier. The applications of 3D printing have increased rapidly, since it offers greater speed with higher precision and finer resolution.
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The automotive 3D printing market is primarily driven by increase in need to manufacture complex designs within a short span of time accompanied with the desire to utilize resources efficiently. The use of 3D printing during initial stages of production is beneficial, as designers can identify errors or defects from built prototype; thereby ultimately reducing the production time and operational cost. Other factors that fuel the automotive 3D printing market include manufacturing of customized parts, reduction in human error, depletion in cost and time of production, and higher resolution. However, high printing cost and unavailability of skilled labor are some important factors that restrict the growth of the automotive 3D printing market.
Currently, North America holds a major chunk in the automotive 3D printing market share, followed by Europe and Asia-Pacific.
Key players profiled in the report include 3D Systems, Inc., Autodesk, Inc., Stratasys Ltd., Arcam AB, The ExOne Company, Hoganas AB, Optomec, Inc., Voxeljet AG, Ponoko Limited, and Envisiontec, Inc.
Segment Overview
Automotive 3D printing market is segmented based on components, applications, and region. The components segment is further classified into technology, materials, and services. Based on technology, the automotive 3D printing market is segmented into stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing, and others. These technologies follow additive manufacturing process in which a model is built by adding successive layers of material. Among these technologies, stereolithography is expected to play the most prominent role since it has revolutionized the speed and techniques of designing and manufacturing objects, thereby benefiting various industries significantly. Based on input materials, the 3D printing material market is segmented into polymers, metals and alloys, ceramic and others. Polymers are most extensively used 3D printing material in the current scenario. Based on applications, the automotive 3D printing market is segmented into prototyping and tooling, R&D, and innovation and manufacturing of complex parts. Geographically, the automotive 3D printing market is divided into North America, Europe, Asia-Pacific and Latin America, Middle East and Africa (LAMEA).
Top Impacting Factors
The automotive 3D printing market is expected to grow at a dynamic rate, owing to factors such as proficient use of raw materials, substantial reduction in development cost & time, added advantage over traditional manufacturing techniques and ease of customization.
Reduction of Wastage
The adoption of 3D printers has increased among professional users owing to its accuracy in printing objects. The use of 3D printing in the initial stages of production is beneficial as designers can identify the errors or defects in the built, thereby reducing the production time and operational cost. Additive manufacturing provides facility to integrate complex design and optimize operational resources. Thus, the automotive 3D printing market size is expected to witness a dynamic growth during the analysis period.
The utilization of materials is done in an efficient manner and no excess material is used in unwanted spaces. Earlier, large amount of material was wasted during the manufacturing process as subtractive techniques were followed to build parts. However, 3D printing is based on additive manufacturing process, involving layer-by-layer deposition of materials. Efficient use of material and reduction in wastage are key driving forces responsible for the adoption of 3D printing technique across various industries.
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Lack of Skilled Labor
Requirement of skilled labor or expertise to operate 3D printer has an impact on the market, since there is a demand-supply gap between skilled labors and industry requirement. There is a growth in need to impart special training skills to operate 3D printers, thereby affecting the deployment of 3D printing across various industries.
Technological Advancements
Manufacturing complex designs using conventional techniques is a difficult task. The 3D printers provide a platform for creation along with freedom of manufacturing objects and designing them as per the user specifications. The feasibility and implementation of a design can be assessed using 3D printing. Innovation in in-house additive printing facility is a major driving force for adoption of 3D printing in the automotive industry.
Key Benefits
- This study comprises analytical depiction of the global automotive 3D printing market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
- Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers in the automotive 3D printing market.
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