Metal Fabrication Equipment Market Forecasts to 2028 – Global Analysis By Service Type (Machining, Welding, Cutting, Forming and Other Service Types), End User (Automotive, Aerospace, Construction, Electrical & Electronics and Other End Users) and By Geog

Metal Fabrication Equipment Market Forecasts to 2028 – Global Analysis By Service Type (Machining, Welding, Cutting, Forming and Other Service Types), End User (Automotive, Aerospace, Construction, Electrical & Electronics and Other End Users) and By Geography

According to Stratistics MRC, the Global Metal Fabrication Equipment Market is accounted for $91.05 billion in 2022 and is expected to reach $128.42 billion by 2028 growing at a CAGR of 5.9% during the forecast period. Metal fabrication refers to several processes that cuts, shapes or moulds metal into final product. It is used in the production of various metal goods or parts. The metals used in this process are aluminium, titanium, brass, copper, gold, iron, nickel, silver, magnesium, iron tin and various grades of steel. Metal fabrication services are employed by contractors, value added resellers and equipment manufacturers. This process is done by machines such as hydraulic pressers, rolling machine, cutting apparatus and welding machines. These manufacturing units have in-house fabrication workshops to cater their own needs. Sheet metal, metal rods, metal bars and metal billets are the raw materials used for fabrication. These metal fabrication equipment produces better results than conventional equipment.

According to the Fabricators & Manufacturers Association (FMA) survey, the metal fabrication sales growth screamed ahead from 13.7% in 2019 to 34.9% in 2021. Nearly 60% of respondent’s sales growth surpassed 25% impressively.

Market Dynamics:

Driver:

Expansion of industrial sector across the world

Due to capitalism, the industrial sector has been choosing to implement crucial tactics like rescaling their employees or recasting their employment. In order to get a competitive edge, manufacturers are enhancing the supply chain through the use of various cutting-edge solutions. The availability of several cutting-edge technology is assisting businesses and manufacturers in increasing the productivity of the manufacturing facilities which is propelling the growth of the market.

Restraint:

Chances of mechanical failures

There is a great likelihood that any machine, piece of equipment or tool employed throughout the manufacturing facilities will malfunction mechanically or technically. Companies must ensure that such equipment operates in the right conditions. To retain their high efficiency and produce better results, these machines need to be maintained and periodically inspected. These factors are hindering the market growth.

Opportunity:

Reduction of wastage due to customization

Metal fabrication equipment is produced by a wide variety of companies, many of which offer customization options based on customer demands. Based on the materials they utilise as raw materials in the production of their finished goods and the type of environment they operate in, many businesses have varied requirements and they work with delicate raw materials which needs machineries that are able to produce. These aspects are fuelling the market growth.

Threat:

Lack of professionals

The development market has been hampered by a shortage of competent workers and improvements in additive construction technologies. The market is declining because of shortage of qualified workers and less improvements in additive building technologies. The length of time needed to build a product is being shortened by additive technology. Along with this, raw material price variations restrict the market's expansion for metal manufacturing.

Covid-19 Impact

The market for metal manufacturing equipment has been adversely affected by the COVID-19 pandemic epidemic. The supply chain for raw materials across borders has been hampered by the implementation of complete lockdown, social distance norms and the ban on imports and exports. Governments have been forced to permit the production of beds, medical equipment and other products with a limited labour force due to public demand. The market started rising after the post pandemic.

The metal cutting equipment segment is expected to be the largest during the forecast period

The metal cutting equipment segment is estimated to have a lucrative growth, due to the increasing automobile and industrial sectors. Expanding demand for machine tools, small and medium-sized businesses and metal workshops are growing the demand for metal cutting equipment. Raise in these sectors are propelling the segment demand radically.
The automotive segment is expected to have the highest CAGR during the forecast period

The automotive segment is anticipated to witness the fastest CAGR growth during the forecast period, due to constantly changing designs and material combinations used in automobile manufacture. The automotive industry is one of the greatest demand generators for metal fabrication equipment. Long-term demand for this equipment across many industries has been fuelled by its ease of use and technological developments.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the demand for metal fabrication equipment in this region. This region has the extensive research and development due to the close proximity of automotive firms, architecture and automotives. Rise in investments in infrastructure developments are driving the market growth in this region.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, due to its massive automotive and related industries. It has the huge automotive and ancillary industries. This region has adopted automation of metal fabrication serviced. Rapid infrastructure development and low cost of automated metal fabrication services in this region are fuelling the demand of the market.

Key players in the market

Some of the key players profiled in the Metal Fabrication Equipment Market include Cardinal matrix, Bystronic Laser AG, TRUMPF GmbH, IPG Photonics Corporation, Amanda Holdings Co, Jenoptik AG, OMAX Corporation, Colfax Corporation, Messer Cutting Systems GmbH, Shenyang Machine Tool, Okuma, DMG MORI, FANUC Corp, Atlas Copco, BTD Manufacturing.

Key Developments:

In September 2021, TRUMPF entered into a partnership with Starmatik, the Italian expert for robot automation of sheet metal processing machines. This partnership aimed to increase the supply of particular modular solutions for Trumpf’s Smart Factory resolutions which consider the general trend toward automation. Through this partnership, customers can get the advantages of significant process acceleration.

In September 2021, AMADA extended its partnership with TotalEnergies, a French transnational unified oil, and gas company. This partnership aimed to provide original equipment oils and lubricants to Amada Europe’s factories plus an array of Amada's proprietary lubricants.

In August 2020, Trumpf partnered with Fraunhofer IPA, a prestigious research organization. This partnership aimed to launch artificial intelligence (AI) resolutions for interconnected production on an industrial magnitude. In addition, the companies are expected to extend AI leadership in sheet-metal fabrication.

Service Types Covered:
• Machining
• Welding
• Cutting
• Forming
• Other Service Types

End Users Covered:
• Automotive
• Aerospace
• Construction
• Electrical & Electronics
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements