The North America Isostatic Pressing Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030).
The demand for intricate components is growing, and advances in material science, the emphasis on precision and quality, the push for cost-effectiveness and efficiency, the expansion of industrial applications, technological advancements, and the need to adhere to strict quality and performance standards all contribute to this growth. These variables work together to fuel the market’s expansion as it strives to suit the changing needs of diverse sectors.
Due to the necessity for low-penetrability materials in 3D printed parts, isostatic pressing is widely used in the aerospace and defense, healthcare, and automotive industries. As a result, there will be a greater need for isostatic pressing as these businesses develop. The sector will have a tremendous upsurge with additional policies and infrastructural development. The demand for affordable titanium as well as its alloys in the automobile sector has grown along with the regional automotive industry's expansion.
The electric grid in the US is a technical wonder, connecting more than 9,200 power plants with a combined production capacity of more than 1 million megawatts over a distance of more than 600,000 miles. The Office of Electricity (OE) is working with public and private partners to strengthen, develop, and improve the nation's energy infrastructure to guarantee that customers can access reliable, secure, and environmentally friendly energy sources. Considering that all of these use isostatic pressing techniques to meet design and sustainability demands, the market will grow in the region by expanding the energy and power sector.
The US market dominated the North America Isostatic Pressing Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,005.3 million by 2030. The Canada market is exhibiting a CAGR of 8.6% during (2023 - 2030). Additionally, The Mexico market would showcase a CAGR of 7.7% during (2023 - 2030).
Based on Type, the market is segmented into Hot (Large-Sized Pressing, Medium-Sized Pressing, and Small-Sized Pressing), and Cold (Dry-Bag Pressing, and Wet-Bag Pressing). Based on Offering, the market is segmented into Solution, and Services. Based on Industry, the market is segmented into Precision Machine Manufacturing, Automotive, Aerospace & Defense, Electronics & Semiconductor, Energy & Power, Research & Development, Medical, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Isostatic Pressing Market is Projected to reach USD 13.1 Billion by 2030, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kobe Steel, Ltd., Bodycote plc, Kennametal Inc., Nikkiso Co., Ltd, Dorst Technologies GmbH & Co. KG, American Isostatic Presses, Inc., EPSI International, Pressure Technology, Inc., Shanxi Golden Kaiyuan Co., Ltd., and MTC Powder Solutions AB (Metal Technology Co. Ltd.)
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