North America 3D Printing Market Insights Forecasts to 2032
- The North America 3D Printing Market Size was valued at USD 4.46 Billion in 2022.
- The Market is Growing at a CAGR of 15.7% from 2022 to 2032.
- The North America 3D Printing Market Size is expected to reach USD 16.59 Billion by 2032.
- North America is expected To Grow the fastest during the forecast period.
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The North America 3D Printing Market Size is expected to reach USD 16.59 Billion by 2032, at a CAGR of 15.7% during the forecast period 2022 to 2032.
3D printing is a type of additive manufacturing that involves printing small layers of material onto a substrate and then fusing them to form a physical product from a digital model. The 3D printing method utilizes less material than traditional subtractive production methods like the drilling process, the welding process, injection molding, and others to build elaborate and complicated designs. 3D printing provides various advantages, such as manufacturing designs more quickly, easily, and less costly, allowing for greater invention, experimentation, and product-based enterprises.
Even though 3D printing technology is presently too slow for scale manufacturing operations, the technology has the likelihood to have a major impact on both the product development distribution and inventory control markets. A number of industries, for instance, hearing aid manufacturers, airplane manufacturers, and automobile manufacturers, employ 3D printing technology for building preliminary designs and manufacturing in large quantities their products using customized scanning. In the future, it has the potential to significantly disrupt the manufacturing, logistics, and administration of inventory industries, particularly if successfully integrated into manufacturing procedures. In addition, 3D printing has transcended typical manufacturing, with applications in energy-efficient systems.
In the North American 3D printing market, a vast number of companies provide 3D printers, 3D printing materials, and 3D printing services. Some of these businesses have expanded their product portfolios through acquisitions and collaborations. Furthermore, the Federal Aviation Administration (FAA) in the United States is foreseeing the need to adopt additive manufacturing technology and is researching how to effectively govern this method of manufacturing.
North America 3D Printing Market Report Coverage
|Market Size in 2022:||USD 4.46 Billion|
|Forecast Period 2022-2032 CAGR:||15.7%|
|2032 Value Projection:||USD 16.59 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Offering, By Technology, By Industry Vertical, and COVID-19 Impact Analysis|
|Companies Covered:||Arevo Labs, 3D Systems, Optomec, Inc., GE, Arcam AB, HP Inc., Protolabs, Carbon 3D, BigRep America Inc., Autodesk, Inc., Stratasys Ltd, EnvisionTEC, Sciaky, Inc., The ExOne Company|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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This research report categorizes the market for North America 3D Printing Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America 3D Printing Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the North America 3D Printing Market.
The North American 3D printing market is being driven by factors such as effective material utilization, decreased human errors, product customization, and a decrease in manufacturing delays and expenses. Furthermore, North American countries such as the United States and Canada have been major and the earliest users of these technologies in a variety of manufacturing industries. Furthermore, 3D printing technology is becoming more prevalent in the manufacturing sector, particularly in the automotive, aerospace, healthcare, and defense markets. Desktop Metal, for example, debuted Einstein Pro XL in February 2023, an economical, high-accuracy, high-throughput 3D printer suited for dentistry labs, orthodontists, and other medical equipment producers.
Rising government programs in the United States for the growth of 3D printing, as well as R&D financing, accelerate the use of this technology in North America. The United States and Canada have established several national initiatives to encourage university-level 3D printing research, technological improvement, and the establishment of start-ups. Also, there have been a series of new product launches, mergers, and acquisitions in North America to utilize the potential on offer through 3D printing. ExOne, for example, announced a collaboration with Maxxwell Motors in August 2021 to produce 3D-printed copper windings. Maxxwell Motors will be able to apply a freshly created, one-of-a-kind copper e-winding design in their novel axial flux electric motors for electric cars, heavy-duty vehicles, and industrial equipment as a result of this collaboration.
North America is also seeing a surge in development in the healthcare, aerospace and defense, industrial, and consumer products sectors, all of which are likely to rise significantly in the coming years. Various government agencies, such as NASA and CSA, have determined that significant expenditures in 3D printing technologies can significantly contribute to space applications and the development of zero-G technology, propelling the expansion of the North America 3D printing market.
- In 2022, the services segment is witnessing a higher growth rate over the forecast period.
On the basis of offering, the North America 3D Printing Market is segmented into hardware, software, and services. Among these, the services segment is witnessing a higher growth rate over the forecast period. In comparison to the gross revenue of printers and materials, the 3D printing service sector is growing significantly due to advancements in printing equipment and materials. As a result, over the forecast period, the market for North American 3D printing services is predicted to increase at the fastest rate.
- In 2022, the stereolithography segment is expected to hold the largest share of North America 3D printing market during the forecast period.
On the basis of technology, the North America 3D Printing Market is classified into inkjet printing, polyjet printing, stereolithography, electron beam melting, laser metal deposition, digital light processing, selective laser sintering, fuse deposition modeling, direct metal laser sintering, laminated object manufacturing, and others. Among these, the stereolithography segment is expected to hold the largest share of North America 3D printing market during the forecast period. Stereolithography is considered to be one of the simplest and most traditional printing procedures. Even though the potential benefits and simplicity to use resulting from stereolithography technology encourage its widespread usage, developments in technology and strong research and development activities initiated by industry researchers and academics are opening up possibilities for a number of additional cost-effective and dependable technologies.
- In 2022, The automotive segment accounted for the largest revenue share of more than 37.8% over the forecast period.
On the basis of industry vertical, the North America 3D Printing Market is segmented into aerospace & defense, industrial, healthcare, consumer products, automotive, jewelry, education, energy, architecture & construction, printed electronics, food & culinary, and others. Among these, the automotive segment is dominating the market with the largest revenue share of 37.8% over the forecast period. The automotive sector has likewise evolved from prototyping to making completed products and parts utilizing 3D printing. The market is growing because of the drive for higher, better-performing automobiles, as well as the need to improve manufacturing and optimize distribution networks and logistics.
The report offers the appropriate analysis of the key organizations/companies involved within the North America 3D Printing Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Arevo Labs
- 3D Systems
- Optomec, Inc.
- Arcam AB
- HP Inc.
- Carbon 3D
- BigRep America Inc.
- Autodesk, Inc.
- Stratasys Ltd
- Sciaky, Inc.
- The ExOne Company
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- On February 2023, 3D Systems has announced the release of the ProJet® MJP 2500W Plus. This revolutionary method is specifically developed to manufacture complicated, high-quality, pure wax 3D-printed jewelry patterns with exceptional speed and precision for use in the lost wax casting process. The ProJet MJP 2500W Plus, designed exclusively for the jewelry industry, can produce high-resolution 100% wax casting patterns in hours.
- In November 2022, Desktop Metal, Inc., a global leader in mass production additive manufacturing technologies, announced a three-year, multimillion-dollar contract with the Veterans Health Administration to develop, test, and manufacture a variety of 3D printed healthcare products using a revolutionary new FreeFoamTM material. FreeFoam is currently manufactured solely on the ETEC Xtreme 8K top-down DLP printing equipment, with commercial availability scheduled for 2023. ETEC is the industrial polymer trademark of Desktop Metal.
- In June 2022, Sciaky, Inc., a subsidiary of Phillips Service Industries, Inc. (PSI) and a leading provider of metal additive manufacturing (AM) solutions, announced that its Electron Beam Additive Manufacturing (EBAM®) technology process deposited 40 pounds (18.14 kilograms) of titanium per hour, making it the world's highest - and fastest - deposition rate for industrial metal 3D printing.
This study forecasts revenue at global, regional, and country levels from 2021 to 2032. Spherical Insights has segmented the North America 3D Printing Market based on the below-mentioned segments:
North America 3D Printing Market, By Offering
North America 3D Printing Market, By Technology
- Inkjet Printing
- Polyjet Printing
- Electron Beam Melting
- Laser Metal Deposition
- Digital Light Processing
- Selective Laser Sintering
- Fuse Deposition Modeling
- Direct Metal Laser Sintering
- Laminated Object Manufacturing
North America 3D Printing Market, By Industry Vertical
- Aerospace & Defense
- Consumer Products
- Architecture & Construction
- Printed Electronics
- Food & Culinary
North America 3D Printing Market, By Country
- United States
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