Metal Fabrication Equipment Market
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
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $91.05 BN |
|
Projected Year Value (2028) |
US $128.42 BN |
|
CAGR (2022 - 2028) |
5.9% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Europe |
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
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o 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
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Metal Fabrication Equipment Market, By Service Type
5.1 Introduction
5.2 Machining
5.3 Welding
5.4 Cutting
5.5 Forming
5.6 Other Service Types
6 Global Metal Fabrication Equipment Market, By End User
6.1 Introduction
6.2 Automotive
6.3 Aerospace
6.4 Construction
6.5 Electrical & Electronics
6.6 Other End Users
7 Global Metal Fabrication Equipment Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Cardinal matrix
9.2 Bystronic Laser AG
9.3 TRUMPF GmbH
9.4 IPG Photonics Corporation
9.5 Amanda Holdings Co
9.6 Jenoptik AG
9.7 OMAX Corporation
9.8 Colfax Corporation
9.9 Messer Cutting Systems GmbH
9.10 Shenyang Machine Tool
9.11 Okuma
9.12 DMG MORI
9.13 FANUC Corp
9.14 Atlas Copco
9.15 BTD Manufacturing
List of Tables
1 Global Metal Fabrication Equipment Market Outlook, By Region (2020-2028) ($MN)
2 Global Metal Fabrication Equipment Market Outlook, By Service Type (2020-2028) ($MN)
3 Global Metal Fabrication Equipment Market Outlook, By Machining (2020-2028) ($MN)
4 Global Metal Fabrication Equipment Market Outlook, By Welding (2020-2028) ($MN)
5 Global Metal Fabrication Equipment Market Outlook, By Cutting (2020-2028) ($MN)
6 Global Metal Fabrication Equipment Market Outlook, By Forming (2020-2028) ($MN)
7 Global Metal Fabrication Equipment Market Outlook, By Other Service Types (2020-2028) ($MN)
8 Global Metal Fabrication Equipment Market Outlook, By End User (2020-2028) ($MN)
9 Global Metal Fabrication Equipment Market Outlook, By Automotive (2020-2028) ($MN)
10 Global Metal Fabrication Equipment Market Outlook, By Aerospace (2020-2028) ($MN)
11 Global Metal Fabrication Equipment Market Outlook, By Construction (2020-2028) ($MN)
12 Global Metal Fabrication Equipment Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
13 Global Metal Fabrication Equipment Market Outlook, By Other End Users (2020-2028) ($MN)
14 North America Metal Fabrication Equipment Market Outlook, By Country (2020-2028) ($MN)
15 North America Metal Fabrication Equipment Market Outlook, By Service Type (2020-2028) ($MN)
16 North America Metal Fabrication Equipment Market Outlook, By Machining (2020-2028) ($MN)
17 North America Metal Fabrication Equipment Market Outlook, By Welding (2020-2028) ($MN)
18 North America Metal Fabrication Equipment Market Outlook, By Cutting (2020-2028) ($MN)
19 North America Metal Fabrication Equipment Market Outlook, By Forming (2020-2028) ($MN)
20 North America Metal Fabrication Equipment Market Outlook, By Other Service Types (2020-2028) ($MN)
21 North America Metal Fabrication Equipment Market Outlook, By End User (2020-2028) ($MN)
22 North America Metal Fabrication Equipment Market Outlook, By Automotive (2020-2028) ($MN)
23 North America Metal Fabrication Equipment Market Outlook, By Aerospace (2020-2028) ($MN)
24 North America Metal Fabrication Equipment Market Outlook, By Construction (2020-2028) ($MN)
25 North America Metal Fabrication Equipment Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
26 North America Metal Fabrication Equipment Market Outlook, By Other End Users (2020-2028) ($MN)
27 Europe Metal Fabrication Equipment Market Outlook, By Country (2020-2028) ($MN)
28 Europe Metal Fabrication Equipment Market Outlook, By Service Type (2020-2028) ($MN)
29 Europe Metal Fabrication Equipment Market Outlook, By Machining (2020-2028) ($MN)
30 Europe Metal Fabrication Equipment Market Outlook, By Welding (2020-2028) ($MN)
31 Europe Metal Fabrication Equipment Market Outlook, By Cutting (2020-2028) ($MN)
32 Europe Metal Fabrication Equipment Market Outlook, By Forming (2020-2028) ($MN)
33 Europe Metal Fabrication Equipment Market Outlook, By Other Service Types (2020-2028) ($MN)
34 Europe Metal Fabrication Equipment Market Outlook, By End User (2020-2028) ($MN)
35 Europe Metal Fabrication Equipment Market Outlook, By Automotive (2020-2028) ($MN)
36 Europe Metal Fabrication Equipment Market Outlook, By Aerospace (2020-2028) ($MN)
37 Europe Metal Fabrication Equipment Market Outlook, By Construction (2020-2028) ($MN)
38 Europe Metal Fabrication Equipment Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
39 Europe Metal Fabrication Equipment Market Outlook, By Other End Users (2020-2028) ($MN)
40 Asia Pacific Metal Fabrication Equipment Market Outlook, By Country (2020-2028) ($MN)
41 Asia Pacific Metal Fabrication Equipment Market Outlook, By Service Type (2020-2028) ($MN)
42 Asia Pacific Metal Fabrication Equipment Market Outlook, By Machining (2020-2028) ($MN)
43 Asia Pacific Metal Fabrication Equipment Market Outlook, By Welding (2020-2028) ($MN)
44 Asia Pacific Metal Fabrication Equipment Market Outlook, By Cutting (2020-2028) ($MN)
45 Asia Pacific Metal Fabrication Equipment Market Outlook, By Forming (2020-2028) ($MN)
46 Asia Pacific Metal Fabrication Equipment Market Outlook, By Other Service Types (2020-2028) ($MN)
47 Asia Pacific Metal Fabrication Equipment Market Outlook, By End User (2020-2028) ($MN)
48 Asia Pacific Metal Fabrication Equipment Market Outlook, By Automotive (2020-2028) ($MN)
49 Asia Pacific Metal Fabrication Equipment Market Outlook, By Aerospace (2020-2028) ($MN)
50 Asia Pacific Metal Fabrication Equipment Market Outlook, By Construction (2020-2028) ($MN)
51 Asia Pacific Metal Fabrication Equipment Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
52 Asia Pacific Metal Fabrication Equipment Market Outlook, By Other End Users (2020-2028) ($MN)
53 South America Metal Fabrication Equipment Market Outlook, By Country (2020-2028) ($MN)
54 South America Metal Fabrication Equipment Market Outlook, By Service Type (2020-2028) ($MN)
55 South America Metal Fabrication Equipment Market Outlook, By Machining (2020-2028) ($MN)
56 South America Metal Fabrication Equipment Market Outlook, By Welding (2020-2028) ($MN)
57 South America Metal Fabrication Equipment Market Outlook, By Cutting (2020-2028) ($MN)
58 South America Metal Fabrication Equipment Market Outlook, By Forming (2020-2028) ($MN)
59 South America Metal Fabrication Equipment Market Outlook, By Other Service Types (2020-2028) ($MN)
60 South America Metal Fabrication Equipment Market Outlook, By End User (2020-2028) ($MN)
61 South America Metal Fabrication Equipment Market Outlook, By Automotive (2020-2028) ($MN)
62 South America Metal Fabrication Equipment Market Outlook, By Aerospace (2020-2028) ($MN)
63 South America Metal Fabrication Equipment Market Outlook, By Construction (2020-2028) ($MN)
64 South America Metal Fabrication Equipment Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
65 South America Metal Fabrication Equipment Market Outlook, By Other End Users (2020-2028) ($MN)
66 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Country (2020-2028) ($MN)
67 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Service Type (2020-2028) ($MN)
68 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Machining (2020-2028) ($MN)
69 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Welding (2020-2028) ($MN)
70 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Cutting (2020-2028) ($MN)
71 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Forming (2020-2028) ($MN)
72 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Other Service Types (2020-2028) ($MN)
73 Middle East & Africa Metal Fabrication Equipment Market Outlook, By End User (2020-2028) ($MN)
74 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Automotive (2020-2028) ($MN)
75 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Aerospace (2020-2028) ($MN)
76 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Construction (2020-2028) ($MN)
77 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Electrical & Electronics (2020-2028) ($MN)
78 Middle East & Africa Metal Fabrication Equipment Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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