3D Printed Automotive Components Market Introduction
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.
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3D Printed Automotive Components Market Dynamics
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.
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3D Printed Automotive Components Market Segmentation
Based on material type, the 3D printed automotive components market can be segmented into
Based on process type, the 3D printed automotive components market can be classified into
Based on application, the 3D printed automotive components market can be divided into
- Interior Accessories
- Under the hood components
- Air ducts
- Full scale panel
- Cast metal bracket & handle
Based on sales channel, the 3D printed automotive components market can be bifurcated into
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.