According to a new market research report published by Global Insight Services “Metal Fabrication Equipment Market is expected to reach $28.3 Bn by 2031 growing at a CAGR of 4.1% between 2021 and 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Metal fabrication is essential in the majority of manufacturing processes. It has its significance in businesses where building metal components for various application is involved. Led by major technological advancements such as the implementation of IoT and automation, metal fabrication equipment can now deliver better results than conventional equipment. This is expected to boost the global metal fabrication equipment market soon.
Rising global population is driving the consumption and demand for energy. Rapid industrialization is anticipated to drive the demand for fabrication equipment. However, the high cost of raw materials is expected to be a major restraint for the market growth. Nevertheless, technological advancements and efforts to develop customized equipment are anticipated to create business avenues for the manufacturers in near future.
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Key Players:
- Jet Edge, Inc.
- Jenoptik AG
- Defiance Metal Products
- Interplex Holdings Pte.
- Watson Engineering, Inc.
Key Trends and Drivers:
- All automotive manufacturers must adhere to strict pollution regulations, and the easiest method to do so is to minimize their weight. Aluminum alloys, sophisticated high-strength steels, magnesium, composite materials, carbon fiber, and a variety of plastic materials are all employed in the production of automobiles.
- As it relates to the flow of information to machine tools and engineers/operators, the rise of Industry, or the Internet of Things (IoT), which is a crucial trend, is projected to have a profound impact on tooling and fabricating equipment. Smart tooling should provide real-time input on issues like vibration and transmit notifications to the engineer.
- Changes in the financial and manufacturing sectors, as well as the implementation of automated fabrication processes, are projected to move the market forward.
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Segmentation:
By Equipment Type
- Machining
- Cutting
- Forming
- Welding
- Others
By Application Outlook
- Job Shops
- Automotive
- Aerospace & Defense
- Mechanical Application
By Type
- Cutting
- Machining
- Welding
Reasons to buy Metal Fabrication Equipment Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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