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Strong Growth Ahead: Automotive 3D Printing Market Size To Grow At Arecord 22.9% Cagr By 2029
Automotive 3D Printing Market
How Big Is the Automotive 3D Printing Market Size Expected to Be by 2034?
In recent times, the size of the automotive 3D printing market has witnessed a significant increase. The market is projected to expand from $3.56 billion in 2024 to $4.4 billion in 2025, with a compound annual growth rate (CAGR) of 23.6%. The surge in the historical period can be ascribed to factors such as customization and personalization, swift prototyping, intricate geometries, decreased material waste, and the optimization of the supply chain.
The market size for 3D printing in the automotive sector is predicted to experience remarkable expansion in the coming years. It is anticipated to escalate to $10.04 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 22.9%. The elevation during this prediction period can be ascribed to factors such as the reduction in the cost of producing spare parts, adherence to regulatory norms, sustainable production methods, and the advent of metal 3D printing. Notable trends projected for this period encompass mass customization, weight reduction, intricate structures, supply chain enhancement, and the creation of spare parts.
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What Are the Emerging Segments Within the Automotive 3D Printing Market?
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
Subsegments:
1) By Interior Components: Dashboard Components, Seating Components, Trim and Paneling, Console Parts, HVAC Ducts
2) By Exterior Components: Body Panels, Bumpers, Grilles, Mirror Housings, Lighting Fixtures
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What Long-Term Drivers Are Shaping Automotive 3D Printing Market Trends?
The surge in electric vehicle adoption has significantly spurred the expansion of the automotive 3D printing industry. An electric vehicle (EV), distinctively powered by an electric motor, discards the use of an internal combustion engine which typically burns a combination of fuel and gases to produce power. For instance, a report from Kelley Blue Book, a subsidiary of Cox Automotive company based in the U.S, revealed that in January 2024, a record of 1.2 million US car purchasers opted for electric vehicles in 2023. This figure represented 7.6% of the total U.S. vehicle market, a substantial rise from 5.9% in 2022. Consequently, the burgeoning demand for electric vehicles is fuelling the growth of the automotive 3D printing industry.
Who Are the Top Competitors in Key Automotive 3D Printing Market Segments?
Major companies operating in the automotive 3D printing market include 3D Systems Corporation, 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., Carbon Inc., Hewlett-Packard Incorporated, Markforged Inc., Prodways Group, Beijing Long Yuan Automated Fabrication System Co. Ltd., Concept Laser GmbH, CRP Technology S.r.l., DWS Systems S.r.l., ExOne Company
What Automotive 3D Printing Market Trends Are Gaining Traction Across Different Segments?
The increasing technological progression in the automotive 3D printing market is a contemporary trend gaining traction. Numerous firms are channeling funds into 3D printing for the enhancement of additive manufacturing, improved brackets, and the production of tools for assembly lines. For example, in May 2022, Digital Metal, a metal additive manufacturing firm based in Sweden, introduced the DMP/PRO binder jet 3D printer. This metal additive manufacturing system leverages binder jetting technology to fabricate complex, highly precise metal parts in a layer-by-layer process. The system selectively utilizes a binding agent on a powder bed, enabling the creation of intricate geometries and components suitable for various sectors such as automotive, aerospace, and medical. The printer's design allows for high throughput and scalability, making it perfectly suited for both prototype creation and full-scale manufacturing runs.
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Which Regions Are Becoming Hubs for Automotive 3D Printing Market Innovation?
North America was the largest region in the automotive 3D printing market in 2024 and North America is expected to be the fastest-growing region in the automotive 3D printing market share forecast period. The regions covered in the automotive 3D printing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automotive 3D Printing Market?
2. What is the CAGR expected in the Automotive 3D Printing Market?
3. What Are the Key Innovations Transforming the Automotive 3D Printing Industry?
4. Which Region Is Leading the Automotive 3D Printing Market?
Why This Report Matters:
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