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.
The desire to reduce vehicle weight, production costs, and development times is increasing. The use of 3D printing is increasing for speedy prototyping and development of complicated parts, and there is a high demand for modified automotive parts.
The COVID-19 situation has caused market anxiety, a significant slowdown in the supply chain, and temporary industry shutdowns. Automobile markets observed sluggish printer shipments in Europe and Asia, which led to weak demand. Most 3D printing businesses changed their emphasis from products to services to help with the manufacture of medical supplies during the pandemic. Nonetheless, several automakers have embraced additive manufacturing as a solution to supply chain problems and as a means of providing localised and decentralised production. Many industry participants have included internal 3D printing for the manufacturing of tools, jigs, and fixtures as needed.
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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
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