3D Printing Automotive Market size was valued at USD 2.38 Bn. in 2021 and the total revenue is expected to grow at 21.7% of CAGR through 2022 to 2029, reaching USD 11.50 Bn.
Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- As per Maximize Market Research, a global Automotive and Transportation research firm, the total market opportunity for 3D Printing Automotive is USD 11.50 Bn in 2029 at a CAGR of 21.7 percent. The “3D Printing Automotive Market” report recently published by Maximize Market Research is available in the market, indicating immense growth for the companies during the forecast period.
Scope of the 3D Printing Automotive Market
Market Size in 2021
USD 2.38 Bn.
Market Size in 2029
USD 11.50 Bn.
CAGR
21.7% (2022-2029)
Forecast Period
2022-2029
Base Year
2021
Number of Pages
297
No. of Tables
118
No. of Charts and Figures
105
Segment Covered
Application and Technology
Regional Scope
North America, Europe, Asia Pacific, Middle East and Africa, South America
The market is majorly driven by the growing automotive market. Automotive 3D printing resolutions are majorly adopted for manufacturing various parts of vehicles while reducing lead time. The factors that are also contributing to the market growth are the increasing demand for lightweight materials to improve automobiles’ fuel efficiency and the introduction of fused deposition modeling (FDM) solutions that assist in manufacturing concept model parts and prototypes.
The market growth is majorly fuelled by the heavy investments by companies in R&D. Over the last few decades, various technological advances in 3D printing and techniques have paved a way for new technologies. Many industry leaders, start-ups and small businesses are investing in R&D for automotive 3D printing technologies in order to introduce innovative and new technologies. This factor is expected to have a significant impact during the forecast period.
Challenge ofthe 3D Printing Automotive Market
To avoid infringements and violations, the Digital Millennium Copyright Act (DMCA) limits 3D printing technology within a desired framework. These threatens both copyright/patent holders and makers/patent personal users.
Restraint ofthe 3D Printing Automotive Market
The high cost of printers and metal powder is the key factor that is limiting the market growth. The high cost associated with 3D printing materials is also a restraining factor for market growth.
Regional Analysis of the3D Printing Automotive Market
The North America region is expected to have the largest share of the global 3D Printing Automotive Market during the forecast period. This growth in the market is due to continuous technological advancements and the presence of key carmakers. The US is expected to dominate the regional market because it produces a large number of ICE vehicles, rapidly developing electric vehicles and high demand for 3D-printed parts.
The market in the Europe region is expected to grow at a fast CAGR during the forecast period. The main reason for the market growth is the usage of additive manufacturing extensively for R&D purposes such as prototyping and fixtures by the leading automotive manufacturers.
Competitive Landscape in the3D Printing Automotive Market
As per the research by Maximize Market Research, the market is dominated by a few global companies such as Stratasys (Israel), 3D Systems, Inc. (US), Arcam AB (Sweden), Renishaw plc. (UK), EOS (Germany), HP (US), Materialise (Belgium).
Key Companies in the 3D Printing Automotive Market:
Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022−2029
Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation – A detailed analysis by Application, Technology and Region
Competitive Landscape – Profiles of selected key players by region in a strategic perspective
Competitive landscape – Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
Maximize Market Research a leading Automotive and Transportation research firm, has also published the following reports:
Rapid Liquid Printing Market - The market size is expected to reach USD 284 million by 2027 at a CAGR of 55.2 percent during the forecast period. The market is expected to be driven by increasing demand for custom design and manufacturing and the growing number of companies offering 3D printing services.
3D Printing Materials Market- The market size is expected to reach USD 11.95 billion by 2029 at a CAGR of 21.2 percent during the forecast period. The market is expected to be driven by the demand for 3D printing materials from the aerospace and defense industries.
3D Printing Filament Market- The market size is expected to reach USD 4187.73 million by 2027 at a CAGR of 27.99 percent during the forecast period. The market is expected to be driven by the increasing demand for high-quality print in automotive and industrial applications.
Ceramic 3D Printing Market- The market size is expected to reach USD 290.96 million by 2029 at a CAGR of 29.45 percent during the forecast period. The market is expected to be driven by increasing demand for product modification and development and increasing demand for 3D printing in medical and pharmaceutical industry.
Specialty Printing Consumables Market- The market size is expected to reach USD 147.98 billion by 2029 at a CAGR of 4.30 percent during the forecast period. The market is expected to be driven by the increasing usage of printing consumables in organizations, educational institutes, and commercial sectors such as packaging and textile.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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