0

Automotive 3D Printing Market Expected to Reach $13.02 Billion by 2030-Allied Market Research

 
2022
Automotive 3D Printing Market

Report Code : A01210

quote By component, the technology segment dominated the global automotive 3D printing market in 2020, in terms of revenue, and is expected to lead the market throughout the forecast period. By application, the end-use parts segment is anticipated to witness lucrative growth over the forecast timeframe. Based on propulsion, the ICE vehicles segment accounted for a major share in 2020. At present, Europe is the highest revenue contributor, followed by North America. quote

Gunjan Malani
Lead Analyst, Automotive and Transportation at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a recent report published by Allied Market Research, titled, “Automotive 3D Printing Market by Component, Application, and Propulsion: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global automotive 3D printing market was valued at $1,664.0 million in 2020, and is projected to reach $13,022.4 million by 2030, registering a CAGR of 23.7% from 2021 to 2030.

Europe is expected to dominate the automotive 3D printing market during the forecast period owing to presence of established automotive industry, rising demand for passenger vehicles, and investments in R&D associated with automotive 3D printing. In addition, CECIMO (European association of machine tool industries and related manufacturing technologies) has reported positive results for additive manufacturing market in Europe resulting in increased import & exports activities.

On the basis of propulsion, the automotive 3D printing market is segmented into ICE vehicles, and electric vehicles. With the introduction of electric vehicle & autonomous vehicle, surge in the demand for smaller and complex automotive parts is observed. 3D printing can aid in manufacturing complex products at a faster pace with greater accuracy through its layer by layer manufacturing process. Few automobile manufacturers have already started utilizing 3D printing technology to produce electric vehicle. For instance, in 2020, XponentialWorks collaborated with Arcimoto to design and fabricate lightweighted components using 3D printing technology to enhance performance of electric vehicles.

Based on application type, the automotive 3D printing market is segregated into prototyping, tooling, jigs & fixtures, end-use parts, and others. The application of 3D printing for manufacturing of end-use parts is expected to increase during the forecast period owing to significant time and cost reduction as compared to traditional methods. The auto manufacturers have started using 3D printing technology for developing components with complex and unusual geometries. The application of 3D printing in automotive industry is anticipated to increase in the future owing to its ability to manufacture light weight and cost effective end-use parts. Volkswagen has been utilizing 3D printing technologies for past 25 years to produce automotive parts for its vehicles.

The significant factors that impact the growth of the automotive 3D printing market include growth in need to reduce vehicle weight, production cost & development time, increase in use of 3D printing for quick prototyping & development of complex parts, and greater demand for customized automotive parts. Moreover, high initial cost and lack of expertise & skilled labors hinder the market growth. Rise in investments on R&D and technological advancements are expected to offer growth opportunities during the forecast period.

COVID-19 Impact Analysis

The COVID-19 crisis has created uncertainty in the automotive 3D printing market, massive slowdown of supply chain, falling business confidence, and increased panic among the customer segments. Governments of different regions announced total lockdown and temporary shutdown of industries, thereby adversely affecting the overall production and sales.

Automotive markets experienced weak demand in Europe and Asia resulting in weak printer shipments. Most 3D printing companies shifted their focus on services to assist in printing of medical equipment during the pandemic. However, some automotive manufacturers adopted additive manufacturing to overcome supply chain issues, and offer localized & decentralized production. Several market players adopted in-house 3D printing for on-demand production of tools, jigs, and fixtures.

Surge in sale of electric vehicles during the pandemic is expected to increase the demand for automotive 3D printing. 3D printing offers greater level of customization in manufacturing of electric vehicles with lighter parts to extend battery life, greater material options, improved thermal capabilities, and superior value in low-volume production with quicker speed to market.

Key Findings Of The Study

  • By component, the technology segment is anticipated to exhibit significant growth in the near future.
  • By application, the end-use parts segment is anticipated to exhibit significant growth in the near future.
  • By propulsion, the electric vehicles segment is anticipated to exhibit significant growth in the near future.
  • By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

Key players operating in the global automotive 3D printing market include 3D Systems Corporation, Autodesk, Inc., Desktop Metal, Inc., EOS GmbH, General Electric Company, Hoganas AB, Materialise NV, Stratasys, Ltd., Ultimaker BV and Voxeljet AG.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Automotive 3D Printing Market by Component (Technology (Material Extrusion, Powder Bed Fusion, Vat Photopolymerization, Material Jetting, Direct Energy Deposition, Binder Jetting), Material (Polymers, Metal, Others), and Services), Application (Prototyping, Tooling, Jigs & Fixtures, End-Use Parts, Others), Propulsion (ICE Vehicles, Electric Vehicles): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Mar 2024

Hairbrush Market

Download Sample
rep-img

Published Date Mar 2024

Debt Security Market

Download Sample
rep-img

Published Date Mar 2024

Wood Adhesives Market

Download Sample

Buy Full Version
"Automotive 3D Printing Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers