At 7.9% CAGR, North America Isostatic Pressing Market is Projected to be Worth US$ 3,920.87 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America isostatic pressing market was valued at US$ 2,134.38 million in 2022 and is projected to reach US$ 3,920.87 million by 2030, registering a CAGR of 7.9% from 2022 to 2030. Growing industrialization and green manufacturing are among the critical factors attributed to drive the North America isostatic pressing market growth.

Green manufacturing is the establishment of environmentally friendly operations and the renewal of production processes within the manufacturing field. Manufacturers across the spectrum are leveraging sustainable manufacturing practices to reduce costs and waste, gain competitive advantage, improve operational efficiency, and enhance regulatory compliance. Green manufacturing emphasizes material efficiency and waste reduction. Isostatic pressing allows for the precise shaping of materials, minimizing waste and optimizing material usage. Isostatic pressing contributes to green practices by efficiently shaping powders into components, reducing material waste compared to traditional machining methods. The adoption of energy-efficient processes aligns with green manufacturing goals. Advancements in isostatic pressing equipment allow for energy optimization during the shaping process. Modern isostatic pressing machines with improved energy management systems contribute to reducing overall energy consumption, making the process more environmentally friendly. Green manufacturing encourages the use of sustainable and recyclable materials. Isostatic pressing supports the shaping of various materials, including those that align with sustainable practices. Isostatic pressing can be applied to shape components from recyclable materials, promoting an economy and reducing the environmental impact of manufacturing processes. Thus, green manufacturing is a growing trend for the isostatic pressing market, emphasizing material efficiency, energy optimization, the use of sustainable materials, and reduced environmental impact.

On the contrary, high initial investment hampers the growth of North America isostatic pressing market.

Based on offering, the North America isostatic pressing market is bifurcated into systems and services. The systems segment held 76.2% market share in 2022, amassing US$ 1,626.40 million. It is projected to garner US$ 3,073.40 million by 2030 to register 8.3% CAGR during 2022-2030.

In terms of type, the North America isostatic pressing market is categorized into hot isostatic pressing (HIP), cold isostatic pressing (CIP), and warm isostatic pressing (WIP). The hot isostatic pressing (HIP) segment held 56.8% share of North America isostatic pressing market in 2022, amassing US$ 1,212.07 million. It is anticipated to garner US$ 2,326.43 million by 2030 to expand at 8.5% CAGR during 2022-2030. Furthermore, the hot isostatic pressing (HIP) segment is sub segmented into large sized, medium sized, and small sized. Additionally, the cold isostatic pressing (CIP) segment is bifurcated into dry bag pressing and wet bag pressing.

By application, the North America isostatic pressing market is segmented into automotive, aerospace and defense, precision machine manufacturing, medical, energy and power, and others. The automotive segment held 24.5% market share in 2022, amassing US$ 522.58 million. It is projected to garner US$ 1,153.39 million by 2030 to register 10.4% CAGR during 2022-2030.

Based on country, the North America isostatic pressing market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.3% share of North America isostatic pressing market in 2022. It was assessed at US$ 1,799.71 million in 2022 and is likely to hit US$ 3,383.45 million by 2030, registering a CAGR of 8.2% during 2022-2030.

Key players operating in the North America isostatic pressing market are American Isostatic Presses Inc; Bodycote Plc; EPSI Inc; Fluitron, Inc.; Hiperbaric USA Corp; Kennametal Inc.; Kobe Steel Ltd; Nikkiso Co Ltd; and Pressure Technology Inc, among others.

• In October 2023, Bodycote, a global leader in heat treatment and specialist thermal processing services, has recently undertaken strategic initiatives to bolster its Specialist Technologies business segment. These initiatives include the acquisition of two technology-focused businesses for a total investment of US$ 145 million. This move is aimed at expanding Bodycote's expertise and capabilities in specialized technologies. In addition to the acquisitions, Bodycote has announced plans to establish a new Hot Isostatic Pressing (HIP) facility in Southern California. This expansion is a strategic step to strengthen Bodycote's Presence and increase its scale in the US. HIP is a critical process in the thermal processing industry, and the establishment of a new facility in a key region allows the company to assist its customers better and meet the growing demand for its services.
  
  

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