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Advanced Manufacturing - Industry - North America Market, Share and Trends 2023-2028

Report ID:

AMIND1N

|

Industry:

Summary of Advanced Manufacturing

To increase production output and quality, companies are increasingly turning to advanced manufacturing techniques. The term “advanced manufacturing” is used to describe a wide range of processes, such as robots, automation and additive manufacturing.

Businesses have placed a greater emphasis on advanced manufacturing in recent years as a means to boost productivity, save expenses and increase product quality. In this booming space, according to our own estimate – we can say that the advanced manufacturing industry in North America is forecasted to be a $ 175.41 Billion industry in 2029 from $93.00 billion in 2023 with a CAGR of 13.44%.

Hence– rapid growth was driven by increasing automation across various industries as well as rising demand for customized and flexible manufacturing processes. Considering the growth pace of all other attributes within this wide topic of ‘Advanced Manufacturing’ causes the market to bloom exponentially.

In North America there are 4 key advanced manufacturing sectors – high-tech /digitalization, automotive/transportation, energy and biomanufacturing – are driving the greatest volumes of investment since 2020.

At a glance, the initial investment in the sector has been a minimum of $ 100 million since 2020 revealing approximately $ 400 billion in advanced manufacturing investments pledged, 210,000+ new jobs and a minimum of 250 million square feet of new industrial projects.

Recent Trends and Insights

Increased focus on human-robot collaboration which are new and upcoming within this domain. Industries like – automotive and food processing are increasingly adopting collaborative robotics solutions that allow humans and robots to work safely alongside each other. This brings more flexibility in production line integration.

Advances in additive manufacturing– The use of 3D printing for metals like titanium and aluminum alloys is growing in aerospace, medical implants and high-performance automotive parts due to new design possibilities for lightweighting and performance. Government support for innovation led to upscaling the manufacturing process.

Programs like – Ontario’s Regional Development initiative are investing over $100 million during 2019-23 to foster innovative manufacturing practices. This will help companies boost production capacity– diversify product portfolios and automate processes to improve competitiveness. Focus on efficiency and customer centricity- Manufacturers are using technologies to reduce costs, streamline operations and better serve evolving customer needs.

Automation is allowing the retention of skilled labor by taking over repetitive tasks. The confluence of these trends is transforming manufacturing globally to be more collaborative, adaptive and responsive to market demands.

Product Insights

Industry 4.0 adoption is being driven by the need for advanced technologies that enable flexible, customized mass production to address dynamic customer demands. Integrating IoT, AI, cloud and other digital technologies allows industry players to remotely monitor equipment– predict maintenance needs and optimize processes for higher efficiency.

The pandemic further accelerated digital transformation efforts as manufacturers looked to leverage Industry 4.0 solutions to maintain operations amid disruptions. Major industry sectors like automotive, electronics, manufacturing are heavily investing in smart factories to gain competitive edge through superior quality, reduced downtime and waste.

Government initiatives in various countries promote Industry 4.0 adoption through incentives, skill development programs and funding for technology infrastructure. This is expected to boost market growth rates.

While initial investments are high – Industry 4.0 enables long-term savings through automation, data-driven insights and enhanced collaboration across value chains.

Key Companies

Some major players within this vast domain of industry are

  • 3D Systems
  • Stratasys
  • Siemens
  • Mitsubishi Electric
  • General Electric
  • JAKKS Pacific, Inc.
  • Mahindra and Mahindra LTD.
  • ABB LTD.
  • Cisco Systems
  • Advanced Metallurgical Group

Regional Analysis

Trade tension between the U.S. and China and the increase in the cost of Chinese labor were already a reason why the manufacturing sector intended to move closer to home. The two years of the pandemic revealed the fragility of the global supply chain and thus became the trigger for ensuing intention. This has been propelled by the Infrastructure Investment and Jobs Act (IIJA) signed in November 2021, the Inflation Reduction Act (IRA) and the CHIPS and Science Act signed in August 2022.

Canada is projected to be a hub for advanced manufacturing in North America. It is the 1st tariff-free foreign trade zone in G20 for industrial manufacturers. The support government policy in Canada is pushing for more manufacturing activity in the country. NGen is the industry-led, non-profit organization leading Canada’s Global Innovation Cluster for Advanced Manufacturing. One of five national networks supported by Canada’s ambitious Global Innovation Clusters Initiative.

Mexico is among the world’s five largest importers of AM technology. This section includes Mexican trade statistics for robotics, sensors, and associated equipment. Mexico consistently runs a trade deficit with the world in robots and sensors, totaling (USD 30 million in 2021), which means that Mexican firms interested in utilizing these technologies must depend on imports (USD 157 million in 2021). Approximately 10 percent of this total was supplied by the United States, indicating room for growth.

Market Segmentation

By Type:

  • Additive manufacturing/3D printing
  • Automation/robotics
  • Industrial internet of things (IIoT) and industrial analytics
  • Plant asset management (PAM)
  • Manufacturing execution systems (MES)
  • Industrial controls

By End user:

  • Manufacturer and Retailer
  • Distinct industries like automotive, aerospace, electronics
  • Process industries like oil & gas, chemicals, pharmaceuticals
  • Energy and utilities
  • Food and beverage

By Enterprise Size:

  • Large Industries
  • Small & Medium Industries

By Countries:

  • The U.S.
  • Canada
  • Mexico

Our Methodology

We have offered a well-founded review of the North America’s advanced manufacturing market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The North America Size of the Advanced Manufacturing Industry is USD 93 Billion in 2023 and is expected to grow to USD 199.37 Billion by 2029

The CAGR of the Advanced Manufacturing Industry Market in North America is 13.44%

The U.S region accounts for 67% of the total market share of the Advanced Manufacturing Industry Market

The key players in the Advanced Manufacturing Industry Market in North America are Tesla, Lockheed Martin, General Electriv, 3M and Intel. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Advanced Manufacturing Industry Market in North America are Automation/Robotic, Additive Manufacturing (3D-Priniting, Industrial Internet of Things(IIOT), Advanced Materials and Sustainability. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Advanced Manufacturing

To increase production output and quality, companies are increasingly turning to advanced manufacturing techniques. The term “advanced manufacturing” is used to describe a wide range of processes, such as robots, automation and additive manufacturing.

Businesses have placed a greater emphasis on advanced manufacturing in recent years as a means to boost productivity, save expenses and increase product quality. In this booming space, according to our own estimate – we can say that the advanced manufacturing industry in North America is forecasted to be a $ 175.41 Billion industry in 2029 from $93.00 billion in 2023 with a CAGR of 13.44%.

Hence– rapid growth was driven by increasing automation across various industries as well as rising demand for customized and flexible manufacturing processes. Considering the growth pace of all other attributes within this wide topic of ‘Advanced Manufacturing’ causes the market to bloom exponentially.

In North America there are 4 key advanced manufacturing sectors – high-tech /digitalization, automotive/transportation, energy and biomanufacturing – are driving the greatest volumes of investment since 2020.

At a glance, the initial investment in the sector has been a minimum of $ 100 million since 2020 revealing approximately $ 400 billion in advanced manufacturing investments pledged, 210,000+ new jobs and a minimum of 250 million square feet of new industrial projects.

Recent Trends and Insights

Increased focus on human-robot collaboration which are new and upcoming within this domain. Industries like – automotive and food processing are increasingly adopting collaborative robotics solutions that allow humans and robots to work safely alongside each other. This brings more flexibility in production line integration.

Advances in additive manufacturing– The use of 3D printing for metals like titanium and aluminum alloys is growing in aerospace, medical implants and high-performance automotive parts due to new design possibilities for lightweighting and performance. Government support for innovation led to upscaling the manufacturing process.

Programs like – Ontario’s Regional Development initiative are investing over $100 million during 2019-23 to foster innovative manufacturing practices. This will help companies boost production capacity– diversify product portfolios and automate processes to improve competitiveness. Focus on efficiency and customer centricity- Manufacturers are using technologies to reduce costs, streamline operations and better serve evolving customer needs.

Automation is allowing the retention of skilled labor by taking over repetitive tasks. The confluence of these trends is transforming manufacturing globally to be more collaborative, adaptive and responsive to market demands.

Product Insights

Industry 4.0 adoption is being driven by the need for advanced technologies that enable flexible, customized mass production to address dynamic customer demands. Integrating IoT, AI, cloud and other digital technologies allows industry players to remotely monitor equipment– predict maintenance needs and optimize processes for higher efficiency.

The pandemic further accelerated digital transformation efforts as manufacturers looked to leverage Industry 4.0 solutions to maintain operations amid disruptions. Major industry sectors like automotive, electronics, manufacturing are heavily investing in smart factories to gain competitive edge through superior quality, reduced downtime and waste.

Government initiatives in various countries promote Industry 4.0 adoption through incentives, skill development programs and funding for technology infrastructure. This is expected to boost market growth rates.

While initial investments are high – Industry 4.0 enables long-term savings through automation, data-driven insights and enhanced collaboration across value chains.

Key Companies

Some major players within this vast domain of industry are

  • 3D Systems
  • Stratasys
  • Siemens
  • Mitsubishi Electric
  • General Electric
  • JAKKS Pacific, Inc.
  • Mahindra and Mahindra LTD.
  • ABB LTD.
  • Cisco Systems
  • Advanced Metallurgical Group

Regional Analysis

Trade tension between the U.S. and China and the increase in the cost of Chinese labor were already a reason why the manufacturing sector intended to move closer to home. The two years of the pandemic revealed the fragility of the global supply chain and thus became the trigger for ensuing intention. This has been propelled by the Infrastructure Investment and Jobs Act (IIJA) signed in November 2021, the Inflation Reduction Act (IRA) and the CHIPS and Science Act signed in August 2022.

Canada is projected to be a hub for advanced manufacturing in North America. It is the 1st tariff-free foreign trade zone in G20 for industrial manufacturers. The support government policy in Canada is pushing for more manufacturing activity in the country. NGen is the industry-led, non-profit organization leading Canada’s Global Innovation Cluster for Advanced Manufacturing. One of five national networks supported by Canada’s ambitious Global Innovation Clusters Initiative.

Mexico is among the world’s five largest importers of AM technology. This section includes Mexican trade statistics for robotics, sensors, and associated equipment. Mexico consistently runs a trade deficit with the world in robots and sensors, totaling (USD 30 million in 2021), which means that Mexican firms interested in utilizing these technologies must depend on imports (USD 157 million in 2021). Approximately 10 percent of this total was supplied by the United States, indicating room for growth.

Market Segmentation

By Type:

  • Additive manufacturing/3D printing
  • Automation/robotics
  • Industrial internet of things (IIoT) and industrial analytics
  • Plant asset management (PAM)
  • Manufacturing execution systems (MES)
  • Industrial controls

By End user:

  • Manufacturer and Retailer
  • Distinct industries like automotive, aerospace, electronics
  • Process industries like oil & gas, chemicals, pharmaceuticals
  • Energy and utilities
  • Food and beverage

By Enterprise Size:

  • Large Industries
  • Small & Medium Industries

By Countries:

  • The U.S.
  • Canada
  • Mexico

Our Methodology

We have offered a well-founded review of the North America’s advanced manufacturing market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The North America Size of the Advanced Manufacturing Industry is USD 93 Billion in 2023 and is expected to grow to USD 199.37 Billion by 2029

The CAGR of the Advanced Manufacturing Industry Market in North America is 13.44%

The U.S region accounts for 67% of the total market share of the Advanced Manufacturing Industry Market

The key players in the Advanced Manufacturing Industry Market in North America are Tesla, Lockheed Martin, General Electriv, 3M and Intel. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Advanced Manufacturing Industry Market in North America are Automation/Robotic, Additive Manufacturing (3D-Priniting, Industrial Internet of Things(IIOT), Advanced Materials and Sustainability. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

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Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.