3D Printing in Automotive Global Market – Overview
There has been significant advancement in the manufacturing technology majorly in additive commonly known as 3D printing. 3D printing has changed the way of producing the products majorly in design, development, and distribution. The advancement in technology have opened ways for automotive manufacturers to introduce new design, cleaner products, lighter, and safe products. The OEM’s and suppliers are primarily focusing on additive manufacturing for developing rapid prototype. The development of 3D priming will enable the automotive manufacturers to innovate their products in order to compete in the market.
There are various driving factors for the use of additive manufacturing which includes product innovation, supply chain transformation, and advancement in technology. The traditional method of designing automotive components often had some registration in manufacturing process. It is necessary to have flexibility in the manufacturing process which is provided by 3D printing. The additive manufacturing technologies increasing produces multimaterial printed parts with properties such as strength and electrical conductivity. The technology provides development of automotive component in faster and safer way. This will boost the demand for 3D printing in auto0motive market.
The most important aspect in automotive industry is to develop light weight component in order to increase the efficiency of the vehicles and reduce the fuel consumption. The automotive industry makes use of complex engineering techniques to be used in order to reduce the weight and improve the performance. The additive manufacturing makes use of lightweight polymers and metals to develop various automotive products.
3D printing offers various distinct benefits such as mass customization, new capabilities, shorter lead and speed time, simplifying supply chain, and waste reduction. This benefits will enable the automotive manufacturers to meet the specific standard as amended by the government. This will increase the demand for 3D printing in automotive.
3D printing technology has a great impact on supply chain side affecting manufacturing, inventory cost, and lead times. The 3D printing can help to meet the demand of the consumers when there is long lead time. They can be used in centralized as well as decentralized network.
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The prominent players in the 3D Printing in Automotive market are:
Autodesk, 3D Systems, Inc, Stratasys Ltd, Arcam AB, EnvisionTEC, Inc, Exone, Voxeljet AG, Local Motors, Ponoko Ltd, Optomec, Inc and among others, and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global 3D Printing in Automotive market.
Industry/ Innovation/ Related News:
The key strategies followed by most companies within the global 3D Printing in Automotive market are that of new product development.
In 2018, Autodesk launched Advanced Manufacturing Facility (AMF) in U.K to develop newest products.
In Oct 2017, 3D Systems unveiled Grid sink faucet, that produces 3rd Dimension products using 3D Systems’ 3D printing materials and technology
In 2017, 3D Systems launched ProX SLS 6100, a new generation printing platform that enables the customers develop prototyping for functional productions parts.
3D Printing in Automotive Market – Segmentation
The global 3D Printing in Automotive market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Brake Type: Comprises Disc and Drum
Segmentation by Brake System: Comprises ABS, TCS, ESC, and Others
Segmentation by Vehicle Type: Comprises Passenger Cars and Commercial Vehicles
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
3D Printing in Automotive Market: Regional Analysis
Asia Pacific region is expected to dominate the market during the forecast period due to increase in the increase in the production of vehicles in emerging countries. There is huge investment in the emerging countries for the development and innovation of the products. The automotive OEM’s are majorly focusing on the developing light weight components of the vehicles. The light weight component will result in reduce weight and increase the fuel efficiency of the vehicles. The major automotive manufacturers are focusing on using 3D printing for prototyping in order to develop and design unique products. There has been increase in production in Asia Pacific due to growing demand for passenger and commercial vehicles. According to OICA, The total vehicle production for the year 2015 was almost 90 million units and is expected to witness further boost and reach more than 100 million units by the year 2023. The increase in the disposable income in Asia Pacific will result in increased purchasing power among the consumer. The increased purchasing power will result in the growth of the market in this region. North America is expected to be the second largest market in 3D printing for automotive due to growing demand for customized products.
Scope of the Report:
This study provides an overview of the global 3D printing in automotive market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next 6 years for each region. The scope of the study segments the global 3D printing in automotive market by its technology, material, application, and regions.
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