North America 3D Printing Market: Current Analysis and Forecast (2018-2024)

Report Description

North America holds prominent share in 3D printing market as it is fast gaining preference over traditional manufacturing methods and growing awareness about the benefits of 3D printing technology. The region encompasses US, Canada and Mexico. Moreover, reduction in costs for mass customization has further accelerated the product development via additive manufacturing. In addition, US is also slated to exhibit highest growth owing to growth in IT spending and rapid growth in adoption rate among various industry verticals specifically consumer products, health care, automobile, defense and aerospace. Canada captures the second largest position in additive manufacturing as it has remarkably revolutionized the manufacturing industry of the country.

North America 3D printing market was valued at US 3,021.1 million in 2017 and was expected to register tremendous CAGR of XX% during the forecasted period . North America 3D printing has primarily driven owing to rising investments by major peers, falling printer prices and supportive regulatory framework.  Government in North America have realized the vast applications and huge benefits of 3D Printing and further facilitate the embracement of this innovative technology. However, legal issues faced by major 3D players while implementing such advanced technology in terms of restricting the production of 3D printed armaments pose a challenge to the potential of North America 3D printing market. In addition, technological advancement in 3D metal printing and in different end-user industries such as healthcare would provide ample growth opportunity for the adoption of 3D printing for various medical diagnoses.

Insights Presented in the Report:

• The report analyses 3D Printing market report majorly based on component, technology, applications and end users. Products, materials and services are the major components considered in the deep analysis of the 3D printing industry.
• Product segment is further classified into professional printers and desktop printers. Product segment is expected to register fastest growth, owing to increasing demand for desktop 3D printers over the period of time although industrial printers is projected to continue to display its dominance till 2024.
• North America 3D printing material market is further divided into different material types including polymer, plastic, metal and alloys, ceramics and others materials. In 2017, polymer segment dominated the North America 3D printing material market as they represent greatest penetration and user accessibility in 3D printing.
• Stereolithography, Selective Laser Sintering, Electron Beam Melting, Fused deposition modeling, Laminated object Manufacturing and Others are the major technologies considered while analyzing the regional 3D printing market. Fused Deposition Modelling, Selective Laser Sintering and Stereolithography constitute as the topmost technologies in 3D printing. Fused Deposition Modelling occupied the largest share in 2017 as it is one of the prominent and user friendly technology that is widely used to create 3D printed objects.
• Based on application type, North America 3D printing market is bifurcated into functional parts, fit and assembly, prototype modelling, education, metal casting, Visual Aids, Presentation Modelling and other applications. Functional parts captured maximum share during 2017 owing to its fast speed, quality and low cost of additive manufacturing.
• Furthermore, 3D printing techniques find its major application in verticals such as education, automotive, aerospace & defense, healthcare, consumer goods, manufacturing, construction and others. Manufacturing sector dominated 3D printing landscape during 2017 owing to bolstering digitalization wherein 3D printing solutions have paved way for manufacturing companies.
• For better understanding of the geographical penetration of 3D printing market in North America, the market is analyzed based on its outreach in the countries such as U.S., Canada, Mexico and rest of North America. The US continues to lead the global 3D printing market attributed to spur in IT spending of country and wide array of industries embracing 3D printing to manufacture high performing 3D customized products. The US constitutes to be one of the highest revenue generating country in North America attributed to surging acceptance of 3D printing in wide spectrum of industries.
• Key companies profiled in the report include 3D Systems Corporation, Arcam AB, Royal DSM N.V., Stratasys Ltd., Autodesk, Inc., The ExOne Company, Hoganas AB, Organovo Holdings, Inc, Mcor Technologies Limited and Voxeljet AG. Influx of numerous players into 3D printing and existing manufacturers adopting 3D printing to simplify production and enhance the quality of their products has resulted into generation of new paradigms in manufacturing in North America.

Reasons to buy the Report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
• Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
• Examination of industry attractiveness  with the help of Porter’s Five Forces analysis
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

Customization Options:

The North America 3D Printing Market can be customized to the regional country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team

Research Methodology

Analysing historical market, estimation of the current market and forecasting the future market for North America 3D Printing market were the three major steps undertaken to create and analyse the overall adoption of 3D Printing in different countries of North America region. Exhaustive secondary research was conducted to collect the historical market of the product/technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the North America 3D printing market. After all assumption, market engineering and validation of market numbers through primary interviews, top-down approach was employed to forecast the market size of 3D Printing in the North America region to 2024. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the market. Detailed research methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the North America 3D Printing market through company internal sources such as annual report & financial statements of top players, performance presentations, press releases, sales figures etc. and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database and other creditable publications.

Step 2: Market Segmentation:

After obtaining historical market size of the overall market, detailed secondary analysis was conducted to gather historical market insights and share for different segments & sub-segments for the North America 3D Printing market. Major segments included in the report are component, technology, application and end-user.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the North America 3D Printing market. Factor analysis was conducted using dependent and independent variable such as purchasing power, player initiatives, penetration of 3D printing, government regulations in major North American countries. Historical trends of the North America 3D Printing and their year-on-year impact on the market size and share in the recent past were analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in market, market share of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available in the market. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2024 for different segment in major countries of North American region. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size and rate of adoption of 3D Printing technology in North American region in terms of value (US$)
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players across different technologies and markets as well as market share of each player. Also, the growth strategies adopted by these players to compete in the rapidly growing North American 3D Printing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive at precise statistical numbers of each segment and sub-segment pertaining to the North America 3D Printing market. Data was split into several segments & sub-segments post studying several parameters and trends.

Main objective of the North America 3D Printing Market Study

The current & future market trends of the North America 3D Printing are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:

• Analyse the current and forecast market size of the North America 3D Printing market in terms of value (US$)
• Analyse the current and forecast market size of different segments and sub-segments of the North America 3D Printing market. Segments in the study include component, technology, application and end-user
• Define and describe the technologies and protocols used in the 3D Printing
• Anticipate potential risk present within the industry along with analysing the customer and competitor in the market
• Define and analysis of the government regulations for the 3D Printing in major countries in the North American region
• Analyse the current and forecast market size of 3D Printing, for countries including US, Canada, Mexico and Rest of North America

Define and analyse the competitive landscape for the North American 3D Printing market and the growth strategies adopted by the market players to sustain in the rapidly growing market