Major players in the automotive 3d printing market are 3D Systems Corporation, Autodesk Inc., Desktop Metal Inc., EOS GmbH, General Electric Company, Hoganas AB, Materialise NV, Stratasys Ltd., Ultimaker BV and Voxeljet AG.
New York, March 21, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report « Automotive 3D Printing Global Market Report 2023 » – https://www.reportlinker.com/p06433779/?utm_source=GNW
, Farsoon Technologies, Sinterit, Protolabs, Nexa3D, EPlus3D, and Ultimaker.
The global automotive 3d printing market grew from $2.37 billion in 2022 to $3 billion in 2023 at a compound annual growth rate (CAGR) of 26.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive 3d printing market is expected to grow to $7.37 billion in 2027 at a CAGR of 25.2%.
The automotive 3D printing market consists of sales of digital light processing (DLP), and masked stereolithography (MSLA).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Automotive 3D printing refers to a process through which automotive designers can quickly fabricate a three-dimensional prototype of a physical part or assembly, from a simple interior element to a dashboard or even a scale model of an entire car using a printing machine.Rapid prototyping enables companies to turn ideas into convincing proofs of concept.
The automotive 3D printing is used to make molds and thermoforming tools, rapid manufacturing of grips, jigs, and fixtures, and exterior and interior components of vehicles as well as to produce samples and tools at low costs and to eliminate future losses in production when investing in high-cost tooling.
North America was the largest region in the automotive 3D printing market in 2022 and is expected to be the fastest-growing region in the forecast period. The regions covered in automotive 3D printing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of components in the automotive 3D printing market are interior components and exterior components.These are used in various vehicle types such as ice vehicles; electric vehicles.
The materials used are metals; plastic; composites and resins.Automotive 3D printing is applied to prototyping & tooling; research, development & innovation; manufacturing of complex components.
The technologies used are stereolithography (SLA); selective laser sintering (SLS); electron beam melting (EBM); fused deposition modeling (FDM); laminated object manufacturing (LOM); three-dimensional inject printing.
The impressive growth of electric vehicles had propelled the growth of the automotive 3d printing market.An electric vehicle (EV) is defined as a machine that operates on an electric motor, instead of an internal-combustion engine that generates power by burning a mix of fuel and gases.
For instance, in July 2022, according to the most recent car statistics, the market for electric vehicles (EVs) is booming. Sales of electric passenger cars grew by 186% in 2020, and in 2021, EV sales set a record against a market that was 28.7% below pre-COVID-19 levels. In all, 1.65 million new cars were registered in 2021, an increase of 1% over 2020, as a result of the pandemic’s continuing effects and the global shortage of semiconductor chips. In spite of this, plug-in hybrid electric vehicles (PHEVs), which made up 7% of total new car sales with 114,554 vehicles, and battery electric vehicles (BEV), which had 190,727 registrations, sold more than they had over the previous five years combined (2016–2020). Therefore, the rising demand for electric vehicles is driving the growth of the automotive 3d printing.
Technological advancement in the automotive 3d printing market is a key trend gaining popularity in the automotive 3d printing market.Many companies are investing in 3D printing for additive manufacturing, optimized brackets, and tooling production for assembly lines.
For instance, in May 2021, Renishaw UK—based specialists in measurement, motion control, healthcare, spectroscopy, and manufacturing company launched a new range of RenAM 500 3D printing machinery.The RenAM 500S Flex is a single laser 3D printing machine and the RenAM 500Q Flex is a four-laser 3D printing machine.
Both the systems featured a simplified powder handling system, which is suited for research and development (R&D), pre-production or bureau environments and will allow manufacturers to easily change between materials, without compromising on part quality or build capacity.
In February 2022, 3D Systems a US-based company that provides comprehensive products and services, including 3D printers, print materials, software, and on-demand manufacturing services acquired Titan Additive LLC, for an undisclosed amount.With this acquisition, 3D Systems will expand the strength and breadth of its polymer AM solutions portfolio to address new applications in markets such as Foundries, Consumer Goods, Service Bureaus, Transportation & Motorsports, Aerospace & Defense, and General Manufacturing.
Titan Robotics is a US-based manufacturer of large additive manufacturing systems and 3D printing technology.
The countries covered in the automotive 3D printing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The automotive 3D printing market research report is one of a series of new reports that provides automotive 3D printing market statistics, including automotive 3D printing industry global market size, regional shares, competitors with an automotive 3D printing market share, detailed automotive 3D printing market segments, market trends and opportunities, and any further data you may need to thrive in the automotive 3D printing industry. This automotive 3D printing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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