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Automotive 3D Printing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032
Market Report I 2024-09-04 I 180 Pages I Global Market Insights
The Global Automotive 3D Printing Market was valued at USD 4.7 billion in 2023 and is set to grow at a CAGR of 14.2% from 2024 to 2032, primarily driven by the surging demand for vehicle design customization.
The industry is rapidly evolving, propelled by the emergence of high-performance materials like carbon-fiber-reinforced composites, titanium, and aluminum alloys. Automotive manufacturers are increasingly seeking these materials for parts that promise enhanced strength, durability, and performance. The industry's emphasis on these advanced materials is pivotal for crafting essential components, including structural parts, engine components, and custom tooling. Such innovations not only bolster vehicle functionality but also align with the contemporary demands of automotive design and manufacturing. For instance, in March 2024, HP, in collaboration with Arkema, unveiled its latest 3D printing material, HP 3D HR PA 12. Tailored for HP's Multi Jet Fusion technology, this material boasts superior heat resistance and durability.
The automotive 3D printing industry is classified into offering, vehicle, component, material, and region.
The market is segmented based on offerings into hardware, software, and services. In 2023, the hardware segment led the market with a commanding 66% share, spurred by the growing adoption of cutting-edge 3D printers and printing technologies. This segment expansion is largely due to the surging demand for high-performance 3D printers, adept at crafting intricate and durable automotive parts. Furthermore, innovations in hardware ranging from enhanced printing capabilities and precision to the incorporation of advanced materials have significantly bolstered segment growth.
Segmented by vehicle type, the automotive 3D printing market distinguishes between ICT and EV. Dominating the landscape, the ICE segment commands an 84.1% share. This dominance stems from the entrenched and widespread utilization of ICE vehicles, overshadowing their electric or hybrid counterparts. Given that ICE vehicles constitute the bulk of today's automotive fleet, there is a pronounced demand for aftermarket parts, custom components, and related prototyping. Moreover, the intricate nature and diverse range of parts in ICE vehicles spanning engine components, exhaust systems, and interior fittings underscores the necessity for advanced 3D printing solutions that facilitate customization and swift prototyping.
In 2023, North America emerged as the front-runner, capturing a notable 38% market share. This dominance is attributed to the region's swift adoption of advanced technologies and its robust automotive industry. Housing major automotive manufacturers and suppliers, North America witnesses significant investments in 3D printing, spanning prototyping, production, and customization. This momentum is further amplified by the region's unwavering commitment to innovation, bolstered by substantial research and development endeavors in 3D printing technologies.
Report Content
Chapter 1 Methodology & Scope
1.1 Research design
1.1.1 Research approach
1.1.2 Data collection methods
1.2 Base estimates & calculations
1.2.1 Base year calculation
1.2.2 Key trends for market estimation
1.3 Forecast model
1.4 Primary research and validation
1.4.1 Primary sources
1.4.2 Data mining sources
1.5 Market scope & definitions
Chapter 2 Executive Summary
2.1 Industry 360 synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Material suppliers
3.2.2 3D printer manufacturers
3.2.3 Software providers
3.2.4 Technology developers
3.2.5 Service providers
3.2.6 End-user
3.3 Profit margin analysis
3.4 Pricing analysis
3.5 Cost breakdown analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news & initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising demand for automotive customization
3.10.1.2 Growing need for supply chain flexibility
3.10.1.3 Increasing integration of Artificial Intelligence (AI) and automation with 3D printing
3.10.1.4 Rising demand for lightweight components
3.10.2 Industry pitfalls & challenges
3.10.2.1 High upfront investment
3.10.2.2 Limited speed for large scale production
3.11 Growth potential analysis
3.12 Porter's analysis
3.12.1 Supplier power
3.12.2 Buyer power
3.12.3 Threat of new entrants
3.12.4 Threat of substitutes
3.12.5 Industry rivalry
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Offering 2021 - 2032 (USD Billion)
5.1 Key trends
5.2 Hardware
5.2.1 Fused deposition modeling (FDM)
5.2.2 Selective laser sintering (SLS)
5.2.3 Stereolithography (SLA)
5.2.4 Direct metal laser sintering (DMLS)
5.2.5 Electron beam melting (EBM)
5.2.6 Others
5.3 Software
5.4 Services
Chapter 6 Market Estimates & Forecast, By Component 2021 - 2032 (USD Billion)
6.1 Key trends
6.2 Engine
6.3 Transmission
6.4 Chassis
6.5 Exterior
6.6 Interior
6.7 Others
Chapter 7 Market Estimates & Forecast, By Vehicle, 2021 - 2032 (USD Billion)
7.1 Key trends
7.2 ICE
7.2.1 Passenger
7.2.2 Commercial
7.3 EV
7.3.1 Passenger
7.3.2 Commercial
Chapter 8 Market Estimates & Forecast, By Material, 2021 - 2032 (USD Billion)
8.1 Key trends
8.2 Metals
8.2.1 Stainless steel
8.2.2 Titanium
8.2.3 Aluminum
8.2.4 Metal alloys
8.3 Plastic
8.3.1 Acrylonitrile butadiene styrene (ABS)
8.3.2 Polylactic acid (PLA)
8.3.3 Nylon
8.4 Composites and resins
8.5 Others
Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Billion)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Russia
9.3.7 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Southeast Asia
9.4.7 Rest of Asia Pacific
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.5.4 Rest of Latin America
9.6 MEA
9.6.1 UAE
9.6.2 South Africa
9.6.3 Saudi Arabia
9.6.4 Rest of MEA
Chapter 10 Company Profiles
10.1 3D Systems
10.2 3Dgence
10.3 axtra3d
10.4 Carbon 3d
10.5 Desktop Metal
10.6 EnvisionTEC
10.7 EOS
10.8 Formlabs
10.9 GE Additive
10.10 HP
10.11 Materialise
10.12 Nano dimension
10.13 Nikon SLM
10.14 Proto Labs
10.15 Renishaw
10.16 Stratasys
10.17 Sybridge
10.18 Ultimaker
10.19 Voxeljet AG
10.20 Xometry
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