The electric vehicle (EV) market continues its upward trajectory, with 2023 witnessing a 16% increase in global sales, according to projections by IDTechEx. Despite facing some constraints, such as subsidy reductions in Europe, EVs are widely acknowledged as the future of the automotive industry, presenting a lucrative revenue opportunity estimated at US$3.5 trillion by 2044.
With this burgeoning market in mind, the additive manufacturing (AM) industry is turning its attention to electric vehicle production. In their new report, “3D Printing and Additive Manufacturing 2024-2034: Technology and Market Outlook,” IDTechEx explores the intersection of 3D printing and EV manufacturing, shedding light on both the opportunities and barriers facing AM in this domain.
AM players recognize several opportunities for innovation in EV production, including lightweighting, simplification of manufacturing processes, and improvements in speed to market. However, challenges abound, ranging from the high cost of AM and limited materials portfolio to OEM bias towards established methods and supply chains.
Despite these hurdles, the AM industry is making strides in penetrating the electric vehicle market. Notably, Tesla’s adoption of “gigacasting” for large individual parts in their EV underbodies has garnered significant attention. This innovative approach, which involves sand binder jetting for producing casting cores, underscores the potential for 3D printing to revolutionize EV manufacturing.
IDTechEx’s comprehensive report provides detailed insights into the 3D printing market, offering forecasts across various technology categories and materials. With 150 interview-based profiles, technology comparison studies, and granular 10-year market forecasts, the report serves as a valuable resource for industry stakeholders seeking to navigate the evolving landscape of 3D printing and additive manufacturing.
As the EV market continues to expand, the convergence of 3D printing and electric vehicle production presents both challenges and opportunities for innovation. With ongoing advancements and investments in AM technology, the future holds immense potential for reshaping the automotive industry towards greater sustainability and efficiency.
