Global Metal Fabrication Equipment Market is expected to reach $28.3 Bn by 2031 growing at a CAGR of 4.1% between 2021 and 2031.
Global Metal Fabrication Equipment Market report from Global Insight Services is the single authoritative source of intelligence on Metal Fabrication Equipment Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. 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 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.
Restraints and Challenges:
- Lack of competent personnel and advancements in additive construction technology have hampered the market’s growth. Advancements in the realms of automation tools and robotics are predicted to generate opportunities for manufacturers during the forecasted period.
- The need for raw materials such as copper, aluminum, and iron for the production of final metal products is declining, while the use of plastics, composite materials, and other non-metal alternatives is increasing.
Segmentation:
By Equipment Type
- Machining
- Cutting
- Forming
- Welding
- Others
Key Players:
- Jet Edge, Inc.
- Jenoptik AG
- Defiance Metal Products
- Interplex Holdings Pte.
- Watson Engineering, Inc.
- Lancer Fab Tech Pvt. Ltd.
- Fabtech Pvt Ltd.
- Atlas Copco
- Komaspect
- Colfax
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