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The Automotive 3D Printing Market Is Forecasted To Be Worth $7.9 Billion by 2027

The automotive 3D printing market is currently estimated at around $2.9 billion. A new report by researchandmarkets forecasts that the market will be worth $7.9 billion by 2027, with a CAGR of 21.7%. There are several reasons automotive manufacturers are turning to 3D printing; we’ll explore them below.
General Motors Additive Industrialization Center 3D printing announcement 16 photos
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First, 3D printing helps reduce costs and production time. With a more significant initial investment, it can prove itself worthwhile in the long run, drastically decreasing part of the production costs. Even though implementation might prove a bit tricky initially, OEMs have registered a positive impact on the manufacturing process. Consequently, some OEMs have intensified investments in this sector, and 3D printing has become a major part of their production process.

With many companies investing heavily in the research and development of 3D printing techniques and materials, the technology has significantly advanced since it emerged, with customization options at an all-time high. This is another driving factor for its adoption.

A restricting factor is a high cost associated with the required printing materials, as they are pricier than bulk resin or powder counterparts. Because 3D printing is not widely adopted, there aren’t many material suppliers. That means that big players distributing the proprietary materials can charge high costs.

Interest has also been generated by the 3D printing application of rapid prototyping to DDM (direct digital manufacturing). With fields such as healthcare, consumer products, and automotive paving the way, more and more sectors will realize its commercial potential.

Rapid prototyping was the most common application of 3D printing in 2017, but the trend shifted a few years later. In 2021, R&D surpassed it and became the most popular application.

During the forecasting period, the hardware segment is expected to take the lead and drive the adoption of 3D printing. By decreasing costs and increasing volume, automotive manufacturers mostly use the technology for structurally complex and critical components, improving their efficiency and performance.

Electric and autonomous vehicles are clearly on a skyrocketing path, with notable growth in demand, adoption, and production. This will increase the use of 3D printing, further boosting its development, as more hardware is needed and used by the automotive industry.

Automotive component manufacturers, 3D printing machine manufacturers, software developers, and material suppliers will have the most to gain from this market trend.

 

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