North America 3D printing Market Overview:
North America 3D Printing Market is expected to garner $5.01 billion by 2022, registering a CAGR of 20.1% during the forecast period 2016-2022.
3D manufacturing, also known as additive manufacturing, is used for the development of 3D objects utilizing a digital file. Additive processes involve successive layering of material for creation of objects. 3D printing gained acceptance in various industries for development of customized products owing to high accuracy, efficient use of materials, and reduced production time and cost. Earlier, 3D printing was limited to rapid production of prototypes; however, with technological advancements and growing applications, it is used increasingly for functional testing of prototypes under working conditions and development of final products. Major application of 3D printing technology is in industries such as consumer goods, healthcare, education and research, defense, aerospace, and automotive. The automotive and aerospace industries use this technology to manufacture affordable, complex, and lighter components. Healthcare and dental sectors implement 3D printing for the development of prosthetics, medical, and dental fixtures. The major driving factors of the North America 3D printing market include efficient use of materials, minimized human errors, customization of products, and reduced production time and cost. However, the high cost associated with 3D printing software and lack of skilled labor limit the North America 3D printing market growth. Application in diverse industries and additional choice of materials are likely to provide numerous growth opportunities. The initiatives of the American governments for the development of 3D printing and funding for R&D accelerate the adoption of this technology in this region.
A large number of companies present in the North America 3D printing market offer 3D printers, 3D printing materials, and 3D printing services. These companies have adopted acquisitions and collaborations to enhance their product portfolio. In May 2014, Autodesk acquired Within Technologies Limited, a U.K. design and simulation software developer company, which helped Autodesk develop tools and technologies for 3D printing. In February 2015, The ExOne Company introduced six new printable materials, which are used in the company's 3D printing systems. This launch enhanced the existing portfolio of the company, offering a wide variety of new materials. Other leading players in this North America 3D printing market include 3D Systems, Autodesk Inc., Stratasys Ltd., The ExOne Company, Optomec, Inc., Organovo Holdings, Inc., Arevo Labs, and EnvisionTEC.
The North America 3D printing market is segmented based on components, application, and country. The component segment is further categorized into technology-based printers, materials, and services. Based on the technology, the printers are segmented into stereolithography, selective laser sintering, electron beam melting, fused deposition modeling, laminated object manufacturing, and others. The market is segmented into polymers, metals & alloys, ceramic, and others based on the material. The various applications using 3D printing include consumer products, industrial products, aerospace, defense, automotive, healthcare, education & research and others.
Key Benefits:
- The study provides an in-depth analysis of the North America 3D printing market to elucidate the imminent investment pockets in the market.
- Current trends and future estimations are outlined to determine the overall North America 3D printing market potential and single out profitable trends to gain a stronger foothold.
- The report provides information regarding key drivers, restraints, and opportunities with a detailed impact analysis.
- A quantitative analysis of the current market and future estimations from 2015 to 2022 are provided to showcase the financial competency of the market.
- Porters five forces model and SWOT analysis of the industry illustrate the potency of the buyers and suppliers.
- Value chain analysis provides a clear understanding of the roles of stakeholders involved.
North America 3D Printing Market, by Component Report Highlights
| Aspects | Details |
 By Component |
|
 By Technology |
|
 By Material |
|
 By Application |
|
 By Country |
|
 Key Market Players | Autodesk, Inc., Stratasys Ltd, Optomec, Inc., EnvisionTEC, Arcam AB, The ExOne Company, E. I. duPont de Nemours and Company, 3D Systems, Arevo Labs, Organovo Holdings, Inc. |
Analyst Review
The North America 3D printing market is estimated to grow rapidly in the future. The U.S. occupies the largest share in this market, followed by Canada. Mexico and Canada are expected to register high growth rates over the forecast period. Adoption of 3D printing has increased over the years owing to customized designs, efficient resource management, reduced production time and cost, minimized human errors, and development of high-quality products.
There is a shift from basic applications of prototype production to advanced applications, including functional testing of prototypes and manufacturing of final products. Industries such as consumer products, industrial, healthcare, defense, aerospace, and education & research widely use 3D printing for manufacturing of complex design objects with the help of diverse 3D printing materials. Defense and aerospace sectors utilize 3D printing for development of affordable, lightweight, and complex components. The healthcare and medical industry has also recognized the advantages of 3D printing for prosthetics, and dental and medical fixtures.
Earlier, the adoption of 3D printing was restricted to large manufacturing firms; however, owing to advancement in technologies and increasing application areas, companies in the market are now developing specialized affordable and customized 3D printing solutions for use among small- and medium-sized businesses (SMBs). High initial investment, lack of awareness among consumers, and lack of skilled labor are factors that restrict the growth of 3D printing in the North American region. Governments in North America invest significantly in R&D of 3D printing technology to increase awareness about its diverse applications and maximize the production output across all industry verticals in this region.
Loading Table Of Content...
