3D Printing in Automotive Market Size
3D Printing in Automotive Market size was estimated to be over USD 1.4 billion in 2017 with the annual sales of over 110 thousand 3D printers. The market is anticipated to grow at a CAGR of more than 25% over the forecast timespan.
The automotive market for 3D printing is developing because the industry needs more and more cost-effective and efficient technologies to make high-quality and complicated goods. The technology has made it possible to make goods that weren't possible before using traditional procedures. The way additive manufacturing technology works lets you create freely and put internal parts together under surfaces or parts that were hard to reach before. It also lets manufacturers combine elements to make them work together, which will make the product last longer and work better while keeping costs down.
More and more people are buying 3D printers since they are getting cheaper. In the past, 3D printers cost a lot of money. Desktop printers cost more than $5,000, and industrial printers cost significantly more. But these days, you can get a desktop printer for as little as $700. The price decline is caused by a number of things, such as new technology and more competition. And it's making it easier for both corporations and people to have 3D printers.
| Report Attribute | Details |
|---|---|
| Base Year | 2017 |
| 3D Printing in Automotive Market Size in 2017 | 1.4 Billion (USD) |
| Forecast Period | 2018 to 2024 |
| Forecast Period 2018 to 2024 CAGR | 25% |
| 2024 Value Projection | 8 Billion (USD) |
| Historical Data for | 2013 to 2017 |
| No. of Pages | 280 |
| Tables, Charts & Figures | 477 |
| Segments covered | Component, Technology, Application and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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The main problem with 3D printing in the car business, meanwhile, is that the current additive manufacturing technology has a small build envelope. Because of the problems with the powder bed diffusion technology utilized in metal printing, the technology is mostly being employed to make smaller pieces. The market expansion is also being slowed down by the technology's cost and scalability problems.
3D Printing in Automotive Market Analysis
In the automobile 3D printing market, hardware has the largest share, accounting for more than 75% of the total. Sales of 3D printers are going up all around the world, which is driving the hardware market. The manufacturing companies are using the 3D printers' skills to speed up their production and lower the cost of making things. Materials also make up a large part of the market. The market structure is changing and sales are going up because there is a lot of demand for making useful products and prices for printers and materials are going down.
During the projection period, the software market is expected to increase a lot, with a CAGR of more than 30%. The rise of third-party developers in metal 3D printing software is what is driving the 3D printing in automobile sector. Third-party software developers are changing the game by making integrated technologies that shorten the current process chain. Also, the big businesses that make traditional 3D CAD software are now making open source software that cuts down on the need for extra tools to speed up the printing process.
The services industry is predicted to increase at a CAGR of 25% over the next several years since on-demand manufacturing services are becoming more popular. As more and more people want to customize their cars, on-demand manufacturing services have grown, and Manufacturing as a Service (MaaS) has also grown.
Fused Deposition Modeling (FDM) technology makes up more than 50% of the 3D printing market for cars. The market is due to improvements in the composite materials used in FDM procedures. Because it can print bigger components faster, several firms are doing research and development to make the mechanical properties of the FDM parts better.
It is expected that the Selective Laser Melting (SLM) and Direct Metal Laser Sintering (DMLS) technologies will grow at a rate of more than 32% per year over the next five years. As it uses thinner layers to get more detail and lets designers make parts with more complicated designs, the technology is expected to gain popularity. Also, the fact that the technology works with many different materials, like steel, bronze, aluminum, cobalt-chrome, and titanium, makes it even more appealing to producers.
In 2017, prototyping and tooling made up more than 60% of the automotive market for 3D printing. The technology lets car engineers and designers make more changes in less time, which speeds up the time it takes to get a product to market. In addition, it lowers the cost of prototype by getting rid of the prices of tools. This is because designers may print several models with the same equipment instead of having to buy unique tools and bits for subtractive manufacturing. It also makes it possible to make prototypes rapidly and with fewer resources than would be needed to make them using traditional methods.
The technology lets car makers and designers speed up the process of making new cars. It cuts down on the time it takes to make tools, which makes it easier to make quick changes with the tools you already have. It also lets car firms buy new tools more often. This allows the systems that develop equipment keep up with the cycles of product design.
In 2017, North America had more than 45% of the market for 3D printing in cars. The rise is due to the fact that both public and private sector entities spend a lot on research and development. The government in the area is also working with businesses and schools to get more manufacturers to embrace additive manufacturing technologies. Also, the technology was mostly developed in the area because there are a lot of companies that offer 3D printing services, like 3D Systems and Stratasys.
Get ready for a 3D printing revolution in the European automotive industry! Experts predict a huge growth spurt, with the market expected to grow by a whopping 25.8% each year. Why is 3D printing taking the automotive world by storm in Europe? Governments and businesses are teaming up to make it happen. For example, the European Union is investing in research to improve 3D printing technology for cars. Europe is a hub for 3D printing companies, making it a hot spot for innovation. These companies are experts in crafting 3D machines that can create metal parts for cars that are sold worldwide. As a result, Europe's a major player in the 3D printing game, attracting investments from all corners of the globe.
3D Printing in Automotive Market Share
The key vendors of 3D printing in the automotive market are
- 3D Systems
- Autodesk
- Stratasys
- Arcam
- Voxeljet AG
- Exone
- Hoganas AB
- Ponoko Ltd.
- Hanhook Tires
- AI Design
3D printing companies are teaming up to grow faster and grab a bigger slice of the market. For example, SLM Solutions and EOS joined forces with Audi in 2018 to bring 3D printing to Audi's car factory. They're working together to create new products and stay ahead of their rivals. This partnership also gives them an advantage over traditional 2D printer companies. The 3D printing industry is still pretty new, but it's growing rapidly. Companies in this market have attracted lots of investments from people looking to take advantage of the big opportunities that still haven't been tapped. However, compared to the traditional auto manufacturing market, the 3D printing market is still fairly fragmented, with no single company dominating the scene.
Industry Background
Hey there! Over the past ten years, 3D printing has totally transformed how we make, design, and even deliver products. For the auto industry, it's been a game-changer. First off, carmakers are using 3D printing to create designs that were simply impossible before. They're making cars lighter, cleaner, and safer. And because 3D printing speeds up the whole process, they can get new models to the market faster and for less money. Right now, 3D printing is mostly used by car companies and suppliers to make prototypes and tools. But it's got a ton of potential for so much more. We're talking new products, better innovations, and even direct production at a large scale. Plus, new advances in 3D printing and related fields like composite materials are about to make things even better for the automotive industry. It's an exciting time to be in the driver's seat!
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