3D Printing in North America Market is Expected to Garner $5.01 billion by 2022 | CAGR of 20.1%

Today, 3D printing is used across various industries, including consumer products, aerospace, automotive, healthcare, defense, and education and research. It enables efficient management of resources and increases production output while minimizing wastage and operating costs. 3D printing is implemented for various applications that include development of prototypes, functional models, presentation models, artistic products, and custom parts.

3D Printing Market Report, published by Allied Market Research, forecasts that the North American market is expected to garner $5.01 billion by 2022, registering a CAGR of 20.1% to 2022. The development of customized complex products using a wide range of materials drives this market. Higher accuracy, reduction in production cost and time coupled with minimized human error supplement its growth.

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A wide variety of 3D printers are available in the market based on different technologies. Stereolithography, fused deposition modeling, selective laser sintering, laminated object manufacturing, and electron beam melting are some of the technologies used for 3D printing. Stereolithography-based 3D printers accounted for a major share in the North American 3D printing market, constituting 33.2% of the total market revenue in 2015. The use of these printers for designing models and molding patterns has increased owing to its high accuracy and better surface finish.

Stereolithography is an additive manufacturing technology that implements layer-by-layer production technique using photopolymerization for the development of prototypes and functional models. Electron beam melting technology-based 3D printers are likely to register the highest CAGR from 2016 to 2022.

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3D printing uses diverse materials such as polymers, ceramics, and metal & alloys among others. Polymers occupied a major share in the North American 3D printing materials segment, accounting for over 40% of the total materials market revenue in 2015. Metals & alloys is expected to be the fastest growing material segment during the forecast period.

The major players in this market include 3D Systems, Stratasys Ltd., The ExOne Company, Autodesk Inc., Optomec, Inc., Organovo Holdings, Inc., and Arevo Labs. These players consistently launch new products and enhance their existing portfolios to expand their customer base and strengthen their market position. Partnerships and collaborations provide growth opportunities to these players for geographic expansion.

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Key findings of North America 3D Printing Market:

The North America 3D printing market is likely to grow at a high rate in the future owing to high need of efficient manufacturing with high accuracy and reduced costs.

The 3D printing services segment accounts for a major share in this market.

The application of 3D printing in defense sector is anticipated to register the highest CAGR of 24.7% from 2016 to 2022.

The U.S. is the highest revenue-generating country in this market.

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CHAPTER 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segment
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1 CXO perspective

CHAPTER 3 MARKET OVERVIEW

3.1 Market definition and scope
3.2 Conventional versus 3D printing technology
3.3 Key findings

3.3.1 Top factors impacting 3D printing market
3.3.2 Top winning strategies in the 3D printing market, 2010-2015
3.3.3 Top Investment Pockets

3.4 Porters five force analysis

3.4.1 Limited suppliers and low switching cost to consumers lead to moderate bargaining power of suppliers

3.4.2 Low switching cost, availability of substitute products and price- sensitive consumers lead to high bargaining power of buyers

3.4.3 Superior manufacturing quality as compared to the conventional technology would lead to lower threat of substitutes

3.4.4 Presence of dominant market players and high investment cost lead to moderate threat of new entrants

3.4.5 Insignificant brand loyalty increases the intensity of rivalry within industry

3.5 Value chain analysis
3.6 Market share analysis, 2015
3.7 Drivers

3.7.1 Efficient use of materials
3.7.2 Use of multiple materials for printing
3.7.3 Reduction in human error
3.7.4 Customization of products
3.7.5 More competitive advantage
3.7.6 Delivering various innovation opportunities
3.7.7 Reduces development cost and time
3.7.8 Efficient logistic management
3.7.9 Higher resolution

3.8 Restraints

3.8.1 Higher cost for individual user
3.8.2 Software required for 3D printing are expensive
3.8.3 Lack of channel partner assistance
3.8.4 Lack of skilled labour

3.9 Opportunities

3.9.1 Applications in various industries and improved manufacturing process
3.9.2 Increasing applications in medical science
3.9.3 Additional choice of materials

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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