Automotive 3D Printing Market 2022 Segment Overview, Company Profiles, Regional Analysis and Forecast 2030 – FortBendNow

2022-04-02 07:03:46 By : Mr. Jack Lu

The global automotive 3D printing market size was US$ 2060.03 million in 2021. The global automotive 3D printing market size is forecast to reach US$ 14,022.4 million in 2030, growing at a compound annual growth rate (CAGR) of 23.8% during the forecast period from 2022 to 2030.

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3D printing, also known as additive manufacturing, involves printing layers on top of each other from 3D CAD models. A 3D printer can reduce lead time as well as costs when it comes to prototyping and manufacturing complex parts. The automotive industry uses 3D printing for a multitude of applications, including design and concept development, prototyping validation, and preproduction sampling and tooling. Materials used for automotive 3D printing include polymers, metals, ceramics, and others. Choosing the printing material depends on what traits the printed object will have.

The need to reduce vehicle weight, production costs, development time, increasing use of 3D printing for rapid prototyping and development, and increased demand for customized auto parts drive the global market growth.

High initial costs and a lack of expertise and skilled labor may slow down the overall automotive 3D printing market growth.

Increasing investments in R&D and technological advances are forecast to offer lucrative opportunities for the global automotive RD printing market during the forecast period.

In light of the COVID-19 crisis, the automotive 3D printing market has faced uncertainty, a dramatic slowdown in the supply chain, and a drop in business confidence. In different regions, governments have declared a total lockdown and temporary shutdown of industries, which has adversely affected production and sales. Weak demand in Europe and Asia impacted shipments of printers in the automotive industry. During the pandemic, many 3D printing companies focused on providing services to help with the printing of medical equipment. Nevertheless, some auto manufacturers use additive manufacturing to solve supply chain issues and provide localized & decentralized production. A number of market players have adopted in-house 3D printing for the production of tools, fixtures, and jigs.

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Europe is forecast to have the largest market share for automotive 3D printing during the forecast period. Due to the established automotive industry, increasing demand for passenger vehicles, and investments in research and development related to automobile 3D printing. Also, CECIMO (European association of machine tool industries and related manufacturing technologies) has reported that additive manufacturing has experienced increased import and export activities in Europe.

The leading prominent companies profiled in the global automotive 3D printing market are:

The global automotive 3D printing market segmentation focuses on Component, Application, Propulsion, and Region.

ICE (Internal combustion engine) Vehicles

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Middle East & Africa (MEA)

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