Global Metal Fabrication Equipment Market Worth Around USD 94.51 Billion by 2026: Acumen Research and Consulting
Global metal fabrication equipment market is projected to grow at CAGR around 3.9% over the forecast period and reach US$ 94.51 Bn by 2026.
According to the report, the global market will continue to be influenced by a range of macroeconomic and regulatory factors. Growth in the metal and manufacturing industry, growth in aviation and automobiles, increasing demand for aluminium, and rapid industrialization in developing economies across the globe have boosted the growth of the global metal fabrication equipment market. The market in the Asia Pacific is likely to expand at highest CAGR due to numerous technological advancements, growth in automotive and aviation industries and increasing government spending in the region.
Automotive segment to remain highly lucrative followed by mechanical component segment
Automotive is expected to be the leading segment of the global metal fabrication equipment market during the forecast period, owing to the growth in adoption of Electric Vehicle (EV) and increasing technological advancements. Automotive segment is anticipated to expand at considerable CAGR throughout the forecast period from 2018 to 2026. Moreover, emergence of friction stir welding technology and increasing investments in R&D activities in the automotive industry are some of the factors driving the growth of the automotive segment growth globally. Introduction of furthermore, the introduction of 3-D metrology equipment is expected to spur the overall growth the segment. The adoption of 3-D metrology equipment like advanced laser scanners is increasing in automotive industry in order to deal with the ever-increasing need for greater optical accuracy and measurement objectives. On the other hand, the growing use of metal fabrication equipment in aerospace and defence sectors is fueling the growth of the aerospace and defence segment. Mechanical component is anticipated to grow at highest CAGR above 4.2% throughout the forecast time frame due to the growing penetration of metal fabrication equipment in various machining processes.
Asia Pacific to continue to hold largest share in the overall market
Geographically, the global metal fabrication equipment market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific accounted for largest market share in 2017 due to the numerous technological innovations and growing awareness towards enhanced products. Asia Pacific is anticipated to grow at highest CAGR over the forecast period owing to the factors such as growth in automotive and aviation industry, increase in the economic activities and expansion of manufacturing sector in the region. Various metal fabrication equipment providers from the region are entering into strategic collaborations to make considerable investments and introduce enhanced products, resulting in the growth of the market. Growing industrialization is playing major role in the growth of the regional market.
Due to the introduction of numerous technological advancements in various industries and large number of machine consumption are boosting the metal fabrication equipment market growth in Asia Pacific. North America is anticipated to show significant growth throughout the forecast period owing to the high economies and increasing deployment of electric vehicles. Factors such as early adoption of 3-D metrology equipment and presence of large number of prominent market players in the region are supplementing the growth of the regional metal fabrication equipment market. On the other side, European countries are also focusing on investing in metal fabrication technology. Growth in the European automotive and machine tools industries is positively affecting the growth of the market in the region. Market players from developing regions such as Middle East and Africa and Latin America are also making initiatives towards the development of metal fabrication technology.
The Amada, Matcor Matsu Group Inc., Atlas Copco and BTD Manufacturing, are likely to continue to lead the global Metal Fabrication Equipment market
The company profiling of key players in the global Metal Fabrication Equipment market includes company overview, major business strategies and revenues. The key players of the market are Defiance Metal Products, Amada, Matcor Matsu Group Inc., Komaspect, Atlas Copco, Colfax, Kapco, DMG Mori, Fabtech Pvt Ltd., Hindustan Machine Tools, Interplex Holdings Pvt. Ltd., Standard Iron and Wire Works and Lancer Sandvik. Industry participant battle on the basis of price, new innovated product launch, and expanding market presence. Some of the prominent players are entering into strategic partnership in order to expand their product portfolio.
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