How is the Automotive 3D Printing Market Poised for Growth: Trends and Opportunities Through 2034
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How has the automotive 3d printing market size evolved in recent years?
In recent times, the size of the automotive 3D printing market has expanded dramatically. The market, which is projected to swell from $3.56 billion in 2024 to $4.4 billion in 2025, is expected to have a compound annual growth rate (CAGR) of 23.6%. The expansion during the historical period can be credited to factors like customization and personalization, rapid prototyping, complex geometric capabilities, decreased waste of materials, and improved supply chain management.
What are the predictions for the automotive 3d printing market size in the coming years?
The size of the automotive 3D printing market is anticipated to experience noteworthy expansion in the coming years. It is projected to escalate to $10.04 billion by 2029 with a compound annual growth rate (CAGR) of 22.9%. The surge in size during the projected period can be ascribed to factors such as reduced costs of spare parts production, eco-friendly manufacturing, regulatory adherence, and advancement in metal 3D printing. Prominent trends expected for the forecast period involve mass customization, reduction in weight, intricately shaped designs, improvement in supply chain, and production of spare parts.
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What key factors are fueling the growth of the automotive 3d printing market?
The surge in electric vehicles has been a key driver in spurring the growth of the automotive 3D printing market. The definition for an electric vehicle (EV) is any machine powered by an electric motor and not by an internal combustion engine, which creates power by the combustion of fuel and gases. In a report by Kelley Blue Book, a Cox Automotive company based in the US, it was noted that 1.2 million car buyers in the country opted for electric vehicles in 2023. This represented 7.6% of the entire U.S. vehicle market, an increase from the 5.9% seen in the previous year, 2022. As such, the expanding demand for electric vehicles is fueling the expansion of the automotive 3D printing market.
How is the global automotive 3d printing market divided into key segments?
The automotive 3D printing market covered in this report is segmented – _x000D_
_x000D_
1) By Component: Interior components, Exterior components_x000D_
2) By Vehicle Type: ICE vehicles, Electric vehicles_x000D_
3) By Material: Metals, Plastic, Composites and Resins_x000D_
4) By Application: Prototyping And Tooling, Research, Development And Innovation, Manufacturing Complex Components_x000D_
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_x000D_
_x000D_
Subsegments:_x000D_
1) By Interior Components: Dashboard Components, Seating Components, Trim and Paneling, Console Parts, HVAC Ducts _x000D_
2) By Exterior Components: Body Panels, Bumpers, Grilles, Mirror Housings, Lighting Fixtures
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Who are the key firms paving the way for growth in the automotive 3d printing market?
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
Which trends are expected to transform the automotive 3d printing market?
The trend of technological evolution within the sphere of automotive 3D printing is gaining significant traction. Numerous firms are pouring investments into the domain for additive manufacturing, enhancing brackets, and the production of tooling for assembly lines. To illustrate, Digital Metal, a metal additive manufacturing company based in Sweden, launched the DMP/PRO binder jet 3D printer in May 2022. This system for metal additive manufacturing employs binder jetting technology to construct intricate, high-precision metal part layers. By selectively applying a binding agent to a powder bed, the production of complex geometries and components suitable for various industries such as automotive, aerospace, and medical becomes practicable. Besides, the printer is apt for high throughput and scalability, which makes it perfect for both prototype development and full-scale production runs.
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What regions are contributing significantly to the growth of 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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