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Future of the Automotive 3D Printing Market: Trends, Innovations, and Key Forecasts Through 2034
Automotive 3D Printing Market
Automotive 3D Printing Market Size Growth Forecast: What to Expect by 2025?
In the recent past, the size of the automotive 3D printing market has experienced substantial growth. Forecasts predict an increase from $3.56 billion in 2024 to $4.35 billion in 2025, signifying a compound annual growth rate (CAGR) of 22.2%. The historic period's growth was driven by factors such as customization and personalization, rapid prototyping, complex geometries, reduction in material waste, and supply chain optimization.
How Will the Automotive 3D Printing Market Size Evolve and Grow by 2029?
The car manufacturing 3D printing industry is predicted to undergo a dramatic surge in the upcoming years, reaching a value of $9.69 billion in 2029 with a compound annual growth rate (CAGR) of 22.1%. This increase during the forecast period is linked to factors like decreased costs in spare parts production, environmentally friendly production, adherence to regulations, and metal 3D printing. The notable trends expected in the forecast period involve mass customization, production of lighter components, intricate geometries, efficiencies in the supply chain, and manufacturing of spare parts.
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What Drivers Are Propelling the Growth of Automotive 3D Printing Market Forward?
The expansion of the automotive 3D printing market has been catalyzed by the remarkable surge in electric vehicles. Identified as a device propelled by an electric motor rather than a traditional internal-combustion engine that generates power by the combustion of fuel and gases, an electric vehicle (EV) is a key factor influencing the market. For example, a report by Kelley Blue Book, a United States Cox Automotive company, revealed in January 2024 that a record-breaking number of 1.2 million car purchasers in the United States opted for electric vehicles in the previous year, equating to a 7.6% portion of the entire U.S. vehicle market. This was a leap from 5.9% in 2022. Hence, the escalated demand for electric vehicles is powering the growth of the automotive 3D printing field.
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What Are the Key Trends Driving Automotive 3D Printing Market Growth?
The progression of technology in the sector of automotive 3D printing is a prominent trend that's experiencing heightened recognition. An abundance of firms are allocating investments into 3D printing for aspects such as additive manufacturing, clip optimization and the production of tooling for assembly lines. As a case in point, in May 2022, Digital Metal, a metal additive manufacturing organization based in Sweden, introduced the DMP/PRO binder jet 3D printer. This metal additive manufacturing system employs binder jetting technology to manufacture intricate, high-precision metal parts layer by layer. It selectively uses a binder to a bed of powder, enabling the crafting of complex geometries and components that match the needs of industries such as automotive, aerospace, and medical. The printer has been designed to yield high throughput and be scalable - making it the perfect choice for both the creation of prototypes and large-scale production runs.
What Are the Key Segments in the Automotive 3D Printing Market?
The automotive 3d printingmarket 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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Who Are the Key Players Shaping the Automotive 3D Printing Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Automotive 3D Printing Market?
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.
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