26-Aug-2019: The global metal
fabrication equipment market size is projected to reach
USD 92.84 billion by 2025, expanding at CAGR of 3.90%, according to a new
report by Grand View Research, Inc. The market is fueled by rapid
industrialization in developing economies from the Asia Pacific amid increasing
population and the need for advanced infrastructure.
The demand for
metal fabrication equipment is dominated by applications such as job shops,
automotive, and ancillary industries among others. The automotive industry, under
continuous evolution in terms of technology and materials used, is a major
application segment for the advanced state-of-the-art equipment. Changing
technological and raw material requirements are a result of increased the stringency of emission and safety norms imposed by governments across the
globe.
The Asia Pacific leads
the metal fabrication equipment market with the majority of machines consumed
in China followed by Japan and South Korea. The Chinese fabrication equipment
manufacturing base is huge and still imports most of the advanced machinery
from the European manufacturers based in countries such as Germany and
Switzerland. Other emerging economies such as India, Indonesia, and Vietnam are
expected to further drive the regional demand for fabrication equipment.
The metal
fabrication equipment market has experienced stagnation in demand over the last
few years owing to the global economic slowdown. Europe and North America
experienced the excessive downfall in terms of sales from 2009 to 2015, due to the recession.
However, the European automotive industry has regained momentum and the market
is expected to continue surging over the forecast period. North America is
anticipated to be driven by the exponential growth in automotive manufacturing
in Mexico coupled with the growth of the Electric Vehicle (EV) segment in the U.S. The surge in electric vehicle manufacturing has compelled the use of advanced
fabrication equipment capable of operating across a variety of metals and
composites.
In
depth research report on Metal Fabrication Equipment Market
Further key findings from the study suggest:
·
Mechanical component is expected to be the fastest growing
application segment with an estimated CAGR of 4.26% from 2018 to 2025
·
Aerospace and defense manufacturing industry is one of the
most significant emerging application segments
·
U.S. metal fabrication equipment market is estimated to be
the fastest growing in North American region, registering a CAGR of 3.81% over
the forecast period
·
The South Korea job shops segment is expected to reach USD
1.56 billion, registering a CAGR of 4.31% from 2018 to 2025
·
Key market players are Amada Corporation, TRUMPF, and
Bystronic Laser AG.
Grand View Research
has segmented the global metal fabrication equipment market on the basis of
type, application, and region:
Metal Fabrication Equipment Type Outlook (Revenue, USD
Billion, 2015 - 2025)
·
Cutting
·
Machining
·
Welding
·
Bending
·
Others
Metal Fabrication Equipment Application Outlook (Revenue, USD
Billion, 2015 - 2025)
·
Job Shops
·
Automotive
·
Aerospace & Defense
·
Mechanical Application
·
Others
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About
Grand View Research
Grand View Research, Inc. in the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
