Strategic Analysis to Understand the Competitive Outlook of the Industry, 2027
OEMs have begun adopting new technologies to manufacture components and parts of vehicles, and the latest technique is known as additive manufacturing (AM) or 3D printing. This process of manufacturing utilizes the 3D printer to develop the design constructed file or CAD file into a fully functional object. This manufacturing technique enables the manufacture of diverse products of varying complexity, shape, size, and material. In the process of manufacturing, the computer operated machine or printer forms a three dimensional object.
The printer uses a combination of different materials such as powdered grains fused with different liquid molecules and projected the material layer by layer to form the desired structure. 3D printed components are highly durable, strong, and can resist higher temperatures. These benefits have prompted automobile manufacturers to shift from conventional manufacturing process to 3D printed manufacturing process.
3D Printed Automotive Components Market – Competitive Landscape
Automakers such as BMW have widely accepted the 3D printed automotive component. In 2018, the company announced plans to produce more than 200,000 components using 3D printing. The window guide rail for BMW i8 Roadster was developed by 3D printing and the company took only five days to develop it. In 2018, BMW Group built a new additive manufacturing campus to increase the production of 3D printed automotive components.
Founded in 2013, 3D Hubs has production facilities in over 140 countries globally. The company, with headquarters in Amsterdam, Netherlands, has manufactured more than 2 million parts since 2013. The company’s business vertical include 3D printing, CNC machining, and injection molding.
Rising adoption of advanced technologies
The global 3D printed automotive components market is expected to expand owing to a rise in adoption of advanced technologies for manufacturing components in the automobile industry. Increased demand for light weight, durable, safe, highly tensile, high temperature-resistant, and less expensive components is anticipated to boost the demand for 3D printed automotive components, as these products can be seamlessly integrated in all types of automobiles.
Rise in sales of premium & luxury vehicles and growing stringency in emission norms to drive the 3D printed automotive component market.
Increasing demand and sales of premium and new vehicles, stringent government norms and regulations regarding emission, higher fuel efficiency, and low emission, emerging economies, and technological enhancements are key factors that are projected to boost the global 3D printed automotive components market.