How Has The Automotive 3D Printing Market Size Evolved In Recent Years?
The Automotive 3D Printing Market has seen a dramatic rise in recent years, highlighting its increased requirement across various industries.
• In 2024, the market size stood at $3.56 billion and is projected to rise to $4.4 billion in 2025, with a potent Compound Annual Growth Rate (CAGR) of 23.6%.
This significant growth could be accredited to the surge in customization and personalization, rapid prototyping, and complex geometries. The ability to reduce material waste and optimize supply chains also contributed to this growth.
What Are The Estimated Market Size Expectations And Future Annual Growth Rates For The Automotive 3D Printing Market?
The automotive 3D printing market is slated for remarkable expansion in the coming years.
• This market is expected to escalate to a staggering $10.04 billion by 2029, sustaining an impressive Compound Annual Growth Rate (CAGR) of 22.9%.
Key growth drivers include cost reduction in spare parts production, sustainability in manufacturing, and compliance with regulations. Top trends include mass customization, lightweighting, complex geometries, supply chain optimization, and spare parts production.
What Are The Primary Factors Propelling The Growth Of The Automotive 3D Printing Market?
The notable rise of electric vehicles has fervently propelled the growth of the automotive 3D printing market. Electric vehicle adoption increased remarkably in the United States in 2023, with a record 1.2 million purchasers according to Kelley Blue Book, a US-based Cox Automotive company. This accounted for a remarkable 7.6% of the entire U.S automotive market, up from 5.9% in 2022. The data suggests a direct relationship between the rising demand for electric vehicles and the growth of the automotive 3D printing market.
What Segments Constitute The Automotive 3D Printing Market?
The automotive 3D printing market encompasses several sections, including -
1) By Component: Interior components, Exterior components
2) By Vehicle Type: ICE vehicles, Electric vehicles
3) By Material: Metals, Plastics, 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
Pre-Book The Automotive 3D Printing Market Report For Swift Delivery And Comprehensive Insights
Which Trends Are Significantly Shaping The Automotive 3D Printing Market?
Technological advancements in the automotive 3D printing market have emerged as a key trend. Many companies are investing in 3D printing for additive manufacturing, tooling production, and bracket optimization. For instance, Digital Metal, a Swedish-based metal additive manufacturing company, launched the DMP/PRO binder jet 3D printer in May 2022. This metal additive manufacturing system facilitates the creation of complex, high-precision, and intricate parts and geometries that are suitable for the automotive industry.
Who Are The Key Players In The 3D Printing Market?
Major contenders 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 Are The Dominant Regions In The Automotive 3D Printing Market?
In 2024, North America was the largest region in the automotive 3D printing market. Furthermore, North America is anticipated to remain the fastest-growing region in the future. This report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
