North America 3D Printing Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
Report on North America 3D Printing Market – Industry Analysis, Forecasts and Opportunity Assessment (2016-2023)
3D printing, technically known as additive manufacturing, is a process through which an object is made by building layers upon layers of infinitesimal width to form the full object. The adding up of layers to layer gives the name additive manufacturing. In conventional manufacturing techniques, the material is removed from the machining process. Here, only the required material is added up through computer-aided design (CAD). 3D printing has taken the manufacturing process by storm has resulted in a paradigm shift due to its many advantages. The method is faster, more accurate and has less wastage compared to previous techniques. It is also easier to make spare parts of the main product. This process opens up opportunities for the production of complex shapes using less material in comparison to traditional methods. These benefits, over the long run, can reduce the cost significantly.
The global market is slated to cross $50 billion in the next seven years. Currently, North America is the largest market for 3D Printing, raking in more than a third of market share last year. The consumer products sector accounted for a major revenue share of the North American 3D printing market, followed by the automotive sector. The U.S is the highest revenue-generating country in this market, followed by Canada and then by Mexico. Favorable trade agreements have allowed the latter to be a global contender for import and export business. Companies operating in this industry are investing in R&D to the tune of billions to enhance the capabilities of existing printers in a number of areas, including materials, printing mechanisms, and integrating additive and conventional techniques of manufacturing. Emerging multi-material capabilities are likely to be key to the growth of the 3D printing market since most products are made from more than one material.
Based on components, the 3D printing market is categorized into the printer, material, software, and service, where the printer has the largest revenue share of over 45% in the 3D printing market last year. Polymers, ceramics, and metal are some of the materials used in 3D printing. Of them, polymer-based 3D printing was the largest revenue contributor accounting for almost half of 3D printing materials last year.
3D printing technique is majorly applied in industrial sectors such as education, automotive, aerospace & defence, healthcare, consumer goods, manufacturing, construction, and others. Healthcare sector has emerged as one of the target industries, as various prosthetic parts and medical instruments are prepared using 3D printing technology, has a wide. In the automobile industry, 3D printing has introduced new shapes into the industry, allowing it to produce lighter and complex structures at affordable price ranges. It also allows for customization in industries where standard structures aren’t used much. 3D printing has a very high ceiling in terms of profitability and the scope for changes in supply chain and innovation are boundless. Organizations are wise to tap in the lucrative market and transform the manufacturing landscape as we see it.
The few prominent players operating in the 3D Printing market are 3D Systems (U.S), Arcam AB (Sweden), Royal DSM N.V. (Dutch), ExOne (U.S), Autodesk (U.S), Stratasys (U.S), Hoganas (Sweden), Ponoko (New Zealand), Mcor (Ireland) and Optomec (U.S).
The report contains a comprehensive analysis on:
- North America 3D Printing Market Segments
- North America 3D Printing Market Drivers, Restraints and Opportunities
- North America 3D Printing Market Size & Forecast 2016 to 2023
- Supply & Demand Value Chain
- North America 3D Printing Market Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for North America 3D Printing Market includes:
- North America
- US and Canada
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides in-depth market segmentation that is derived from extensive product mapping exercises, macroeconomic factors, and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- In-depth Market Segmentation
- Historical and Projected Market Sizing in terms of volume and value
- Recent market trends and Impact Factors
- R&D Status and Technology Overview
- Extensive Industry Structure Coverage