Global Metal Fabrication Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Global Metal Fabrication Equipment Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The metal fabrication equipment market (henceforth, referred to as the “market studied”) is expected to register a CAGR of 3.9%, during the forecast period till 2024.

• Developing economies, such as India, China, and Indonesia, among others, along with industrialized countries, such as Japan and South Korea, have assisted the Asia-Pacific (APAC) region to dominate the manufacturing industry, in terms of demand, particularly with the demand for metal fabrication equipment.
• Europe is the second-largest market for metal fabrication equipment. Industrialized countries, such as Germany, France, and Italy, are expected to fuel the demand further in near future.
• Germany is the largest market in Europe, owing to the presence of huge automotive and ancillary industries, followed by Italy, and other markets, such as Switzerland and Russia.

• The growth of Industry 4.0, or the Internet of Things (IoT), which is a key trend, is expected to have a profound influence on tooling and fabricating equipment, as it relates to the flow of information to machine tools and engineers/operators. Smart tooling is expected to provide real-time feedback about problems, such as vibration, and send alerts to the engineer.
• The transition to Industry 4.0 starts with machining environments that are highly consistent in day-to-day operations. Tool presetting is vital to the beginning of this process. Once the tool holder assembly is preset, data can be sent directly to the machine tool (saving time and preventing potential machining mistakes) or it can be transferred to an RFID chip installed in the tool holder.
• Manufacturers find the presetting process to be a huge factor in reducing scrap during production. The demand for Industry 4.0 solutions is increasing as companies move toward consistent, highly productive machining.

• The metal cutting machine market, which was valued at USD 5.99 billion in 2016, is expected to record a CAGR of 5.7% between 2017 and 2025.
• Automotive was the largest application segment for the market studied in 2016, and it is expected to register a CAGR of 6.5% between 2018 and 2024.
• The metal fabrication market in Asia-Pacific is likely to experience a substantial growth over the next few years, owing to the robust growth in various application industries, especially in the automotive, and aerospace and defense markets.
• In terms of value, the Asia-Pacific market is expected to register a CAGR of 6.7% between 2018 and 2024. Moreover, the increasing demand for metal cutting equipment is expected to increase the demand for metal fabrication equipment over the next few years.

The report covers major international players operating in the metal fabrication equipment market. In terms of market share, a few of the major players currently dominate the market studied. However, they face stiff competition from regional players and mid-size and smaller companies that are focused on providing custom equipment in the market studied.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support