How will 3D Printing Play Crucial Role in COVID-19 Pandemic? Market Scope in 2020 and Beyond

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.

The major players in this market include 3D Systems, Stratasys Ltd., The ExOne Company, Autodesk Inc., Optomec, Inc., Organovo Holdings, Inc., and Arevo Labs.

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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.

North America 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% during the period 2016-2022.

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).

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Key findings of North America 3D Printing Market:

o 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.

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

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

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

North America 3D Printing Market Key Segments:

The North America 3D printing market is segmented on the basis of components, applications, and countries.

By Component

o Technology-based printers

o Stereolithography
o Selective Laser Sintering
o Electron Beam Melting
o Fused Deposition Modeling
o Laminated Object Manufacturing
o Others

o 3D printing materials

o Polymers
o Metal and Alloys
o Ceramic
o Others

o Services

By Application

o Consumer products
o Industrial
o Aerospace
o Automotive
o Healthcare
o Defense
o Education and research
o Others

By Country

o U.S.
o Canada
o Mexico

Key Players

o 3D Systems
o Autodesk, Inc.
o Stratasys Ltd.
o The ExOne Company
o Optomec, Inc.
o Organovo Holdings, Inc.
o Arevo Labs
o Arcam AB
o EnvisionTEC
o E. I. duPont de Nemours and Company

North America 3D Printing Market Is Expected to Reach $5.01 Billion by 2022 @ http://hitechnewsdaily.com/2020/03/3d-printing-market-in-north-america-is-expected-to-reach-5-01-billion-by-2022-cagr-of-20-1/

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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