The North America Additive Manufacturing Market would witness market growth of 18.1% CAGR during the forecast period (2022-2028).
Complex interlocking moving parts in ready-made functioning assemblies can likewise be manufactured via additive manufacturing. While two components may be permanently linked, they are manufactured as a single unit and emerge from the machine complete and ready to use. For example, a tie-down clamp made of aluminum-filled polyamide material on an EOS laser sintering system is made up of four separate components that allow the clamp to function properly. The entire clamp, on the other hand, is made in a single operation without the requirement for assembly. If the clamp were made using standard manufacturing methods, it would necessitate a minimum of 12 components and an assembly procedure to connect all of the individual parts. This is a major benefit of the modern additive manufacturing technique.
Manufacturing a product like that with traditional manufacturing is extremely difficult. Some objects are too small or have an unusual angle to remove materials in the desired way with subtractive manufacture. This barrier is removed using additive manufacturing. This also means that designers can make an object lighter. This is especially essential in the aircraft and automotive sectors, where weight can have an impact on the end product's functionality.
The manufacturing industry of this region is one of the most significant manufacturing industries all over the world. According to figures from the United Nations Statistics Division (UNSD), the world created $10.2 trillion in industrial value-added in 2010. The United States produced over 18% of these commodities, making it the world's second-largest manufacturing nation. Many of the industry's goods and parts are created by cutting away sections of raw material to construct the required part. However, a relatively new process, known as additive manufacturing, is gaining traction, in which material is accumulated together rather than chopped away. In contrast to subtractive processes, which remove material, additive manufacturing involves layering materials to create products from three-dimensional (3D) models.
In addition, according to the government of Canada, the manufacturing and processing sectors account for 1.7% of the overall economy of the country and are major contributors to the Canadian economy. Therefore, the utilization of additive manufacturing practices is estimated to surge in the region. This factor would drive the growth of the regional market.
The US market dominated the North America Additive Manufacturing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $10,806.4 million by 2028. The Canada market is anticipated to grow at a CAGR of 20.8% during (2022 - 2028). Additionally, The Mexico market would showcase a CAGR of 19.7% during (2022 - 2028).
Based on Printer Type, the market is segmented into Industrial 3D Printer and Desktop 3D Printer. Based on Technology, the market is segmented into Stereolithography, Fuse Deposition Modeling, Selective Laser Sintering & Direct Metal Laser Sintering, Polyjet Printing & Inkjet Printing, Electron Beam Melting & Laser Metal Deposition, Digital Light Processing, and Laminated Object Manufacturing & Others. Based on Component, the market is segmented into Hardware, Software (Design, Printer, and Scanning & Inspection), and Services. Based on Application, the market is segmented into Prototyping and Tooling & Functional Parts. Based on Material, the market is segmented into Metal, and Polymer & Ceramic. Based on Vertical, the market is segmented into Automotive, Consumer Electronics, Aerospace & Defense, Educational Purpose, Healthcare & Dental, Fashion & Jewelry, Power & Energy, Food, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Additive Manufacturing Market is Estimated to reach $44.6 Billion by 2028, at a CAGR of 18.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3D Systems Corporation, Autodesk, Inc., Canon, Inc., Materialise NV, EnvisionTec, Inc., General Electric (GE) Co., Voxeljet AG, Redwire Corporation, and Stratasys, Ltd.
By Printer Type
By Technology
By Component
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By Material
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By Country
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