Automotive 3D Printing Market Trends, Size, Industry Segments And Profit Growth By Forecast To 2033

The automotive 3d printing market size has grown exponentially in recent years. It will grow from $2.91 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 24.4%. The growth in the historic period can be attributed to customization and personalization, rapid prototyping, complex geometries, reduced material waste, supply chain optimization.

The automotive 3d printing market size is expected to see exponential growth in the next few years. It will grow to $8.37 billion in 2028 at a compound annual growth rate (CAGR) of 23.4%. The growth in the forecast period can be attributed to cost reduction spare parts production, sustainable manufacturing, regulatory compliance, metal 3d priniting. Major trends in the forecast period include mass customization, lightweighting, complex geometries, supply chain optimization, spare parts production.

Market Overview -
Automotive 3D printing refers to a process through which automotive designers can quickly fabricate a three-dimensional prototype of a physical part or assembly, from a simple interior element to a dashboard or even a scale model of an entire car using a printing machine. Rapid prototyping enables companies to turn ideas into convincing proofs of concept. The automotive 3D printing is used to make molds and thermoforming tools, rapid manufacturing of grips, jigs, and fixtures, and exterior and interior components of vehicles as well as to produce samples and tools at low costs and to eliminate future losses in production when investing in high-cost tooling.

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Electric Vehicle Boom Drives Growth In The Automotive 3D Printing Market
The impressive growth of electric vehicles had propelled the growth of the automotive 3d printing market. An electric vehicle (EV) is defined as a machine that operates on an electric motor, instead of an internal-combustion engine that generates power by burning a mix of fuel and gases. For instance, in July 2022, according to the most recent car statistics, the market for electric vehicles (EVs) is booming. Sales of electric passenger cars grew by 186% in 2020, and in 2021, EV sales set a record against a market that was 28.7% below pre-COVID-19 levels. In all, 1.65 million new cars were registered in 2021, an increase of 1% over 2020, as a result of the pandemic's continuing effects and the global shortage of semiconductor chips. In spite of this, plug-in hybrid electric vehicles (PHEVs), which made up 7% of total new car sales with 114,554 vehicles, and battery electric vehicles (BEV), which had 190,727 registrations, sold more than they had over the previous five years combined (2016-2020). Therefore, the rising demand for electric vehicles is driving the growth of the automotive 3d printing market.

Competitive Landscape -
Major companies operating in the automotive 3d printing market include 3D Systems Corporation, Autodesk Inc., Desktop Metal Inc., Electro Optical Systems (EOS) GmbH, General Electric Company, EnvisionTEC GmbH, Stratasys Ltd., Materialise NV, Ultimaker BV, Voxeljet AG, Hoganas AB, SLM Solutions Group AG, Renishaw plc, Arcam AB, Optomec Inc., XYZprinting Inc., Carbon Inc., Hewlett-Packard Incorporated, Markforged Inc., Nano Dimension Ltd., Prodways Group, Tiertime Corporation, Beijing Long Yuan Automated Fabrication System Co. Ltd., Concept Laser GmbH, Cookson Precious Metals Ltd., CRP Technology S.r.l., DWS Systems S.r.l., ExOne Company

Technological Advancements Transforming The Automotive 3D Printing Market
Technological advancement in the automotive 3d printing market is a key trend gaining popularity in the automotive 3d printing market. Many companies are investing in 3D printing for additive manufacturing, optimized brackets, and tooling production for assembly lines. For instance, in May 2021, Renishaw UK-based specialists in measurement, motion control, healthcare, spectroscopy, and manufacturing company launched a new range of RenAM 500 3D printing machinery. The RenAM 500S Flex is a single laser 3D printing machine and the RenAM 500Q Flex is a four-laser 3D printing machine. Both the systems featured a simplified powder handling system, which is suited for research and development (R&D), pre-production or bureau environments and will allow manufacturers to easily change between materials, without compromising on part quality or build capacity.

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Key Segments -
The automotive 3d printing market covered in this report is segmented -
1) By Component: Interior components, Exterior components
2) By Vehicle Type: ICE vehicles, Electric vehicles
3) By Material: Metals, Plastic, Composites and Resins
4) By Application: Prototyping And Tooling, Research, Development And Innovation, Manufacturing Complex Components
5) By Technology: Stereolithography (SLA), Selective Laser Sintering (SLS), Electron Beam Melting (EBM), Fused Deposition Modeling (FDM), Laminated Object Manufacturing (LOM), Three-Dimensional Inject Printing

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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