3D Printing in Automotive Market: Increasing at a rapid pace with a surge in demand is expected to augment the market at a healthy CAGR of ~ 28.72% during the forecast period of 2022 to 2030

PRESS RELEASE

Published January 30, 2023

Market Research Future Insights

According to MRFR analysis, global 3D Printing in Automotive Market is expected to register a CAGR of ~ 28.72% from 2022 to 2030 and hold a value of over USD 4.90 billion by 2030.

Growth in the need to decrease vehicle weight, production cost & development time, upsurge in the use of 3D printing for quick prototyping & development of complex parts, and superior demand for modified automotive parts drive the growth of the market

The COVID-19 crisis has formed uncertainty in the market, massive slowdown of the supply chain, and temporary shutdown of industries. Automotive markets knowledgeable weak demand in Europe and Asia after weak printer shipments. Most 3D printing companies shifted their focus on services to contribute to the printing of medical equipment during the pandemic. However, some automotive manufacturers accepted additive manufacturing to overcome supply chain issues, and offer localized & decentralized production. Numerous market players adopted in-house 3D printing for the on-demand production of tools, jigs, and fixtures.

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Regional Analysis

Europe and Asia Pacific dominated the market for 3D Printing in Automotive and accounted for the largest revenue share. The existence of developing countries such as China, India, and Japan is expected to boost market growth in the region.

Market Segmentation

The Global 3D Printing in Automotive Market has been segmented into the Component, Material, and Application

Based on the Component, The Global 3D Printing in Automotive Market has been segmented into Material Extrusion, Powder Bed Fusion, Vat Photopolymerization, Material Jetting, Direct Energy Deposition, Binder Jetting

Based on the Material, The Global 3D Printing in Automotive Market has been segmented into Polymers, Metal, Others

Based on the Application, The Global 3D Printing in Automotive Market has been segmented into Prototyping, Tooling, Jigs & Fixtures

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Key Players

Some of the key market players are Autodesk, 3D Systems In, Stratasys Ltd, Arcam AB, Ponoko Ltd, Optomec, EnvisionTEC Inc, Exone, Voxeljet AG, and Local Motors