Metal Fabrication Equipment Market Overview:
Metal Fabrication Equipment Market was estimated to be worth USD 68.36 Billion in 2021, accounting for a CAGR of 3.9% during the forecast period (2022-2030), and the market is expected to be worth USD 79.66 Billion by 2030.
Metal fabrication refers to the process of metal structure creation which involves sub processes like bending, cutting, assembling, and others. The equipments which aids fabrication process are known as Metal Fabrication Equipment Market. These equipments plays a significant role in all types of manufacturing processes which necessitate hard materials as input. Furthermore, Metal Fabrication Equipment Market have an array of applications in multiple end use industries such as defense, automotive, consumer durables and others. In recent times, Metal Fabrication Equipment Markets are also being integrated with modern technologies like IOT & automation.
The automotive industry is one of the biggest consumer for metal fabrication equipments in the world, additionally this industry is showcasing impressive growth due to soring disposable incomes and demand form developing economies in recent years. The growth of automotive industry is acting as a major driver for the demand for metal fabrication equipments further propelling the industry to new heights.
For instance, according to a report by Statista Asia pacific region have 29 million km of road network and also has 60% of the global population concentrated in this region. Moreover, several nations in this region are witnessing massive economic growth. These factors make this region suitable for the growth of automotive industry and with the growth of automotive industry the demand for metal fabrication equipment is set to rise.
Dynamics:
Driver:
- Demand for modern metal fabrication equipments with development of industry 4.0 :-
The incorporation of advanced technologies such as Internet of Things (IOT), cloud computing, analytics, AI, and machine learning is transforming the manufacturing process. Industry 4.0 is allowing companies to improve their production methods. The incorporation of Modern technologies into new age metal fabrication equipments is driving the demand from various end use industries. These new age metal equipments offers superior production rate with equally good quality. These properties have raised the demand for metal fabrication equipments multifold.
- Demand from construction industry :-
Metal fabrication plays a crucial role in construction industry. These equipments are helpful in shaping the materials like reinforcing bars, metal sheets, screws, nuts, bolts, anchors, windows, doors, metal tubing. Which are crucial for strengthening the architecture and framework of high-rise buildings, hospitals, and residential structures. APEC countries like China and India alone account for 40% of the total construction activity globally. These construction activities are estimated to drive the growth of this market in coming few years.
- Aerospace Metal Fabrication applications:-
Aerospace industry indulges itself in aspects like designing, building, testing, maintaining aircraft, aircraft parts, missiles, rockets and spacecraft. This industry has very crucial application of metal fabrication equipments as high quality and standards are must in order to ensure passengers safety. The growth of aerospace industry is directly linked to the growth of metal fabrication equipment market.
Restraint:
Metal fabrication industry is highly capital intensive with large sum of initial investments required to set up manufacturing units. This is one of the major constraint as it makes entry of new players extremely hard into this market restricting new product development which in turn restricts the market growth. Another major challenge which could disrupt the market is rise in new technology like 3D printing. The 3D printing technology does not welds metal sheets to build structures. Rather it builds structures layer by layer on top of one another. For now this technology is limited to plastics and ceramics but scientist are trying to develop this technology to be used with metals too. These are some challenges faced by this industry.
Covid-19 Impact:
Covid pandemic is estimated to have significant impact on the metal fabrication market. The prevailing cause for this impact was restrictions imposed by governments in order to curb the virus spread. These restrictions resulted into closure of multiple end use industries like automobile and construction. Consequently a significant drop in the demand for metal fabrication equipments was observed. But coming forward now the economy is fully functional with major industries running at full capacities. These positive trends are estimated to last for coming few years. Driving the demand for metal fabrication equipments.
Metal Fabrication Equipment Market Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 79.66 Billion |
| CAGR (2022-2030) | 3.9% |
| by Type | Cutting, Machining, Welding |
| By Application | Construction, Job Shop, Automotive, Aerospace & Defense. |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa. |
| Key Players | Atlas Copco, BTD Manufacturing, Colfax, Defiance Metal Equipment, DMG Mori, Hindustan Machine Tools, Interplex Holdings Pvt. Ltd., Kapco, Komaspect, Lancer Fabtech Pvt. Ltd., Matcor Matsu Group Inc., Sandvik, Standard Iron And Wire Works, Trumpf, Watson, Amada |
Market Segmentation:
By type
The type segment could be divided into cutting, machining, welding. The largest market share in this segment is captured by the cutting type equipments in the forecasted period. The major consumers for this type was the automobile industry and metal fabrication workshops. The reason for heavy use of metal cutting equipments is the fact that almost all the metals especially steel is produced in form of metal sheets which require cutting in desirable shapes in order to be further used in fabrication processes.
Machining equipment are used to systematically remove metal chippings to create a metal piece or part. They are these equipment are typically used in manufacturing of high precision automotive parts like Gear blanks, Ring gear, Sun & Pinion and many more others. Recently machining equipments are extensively integrated with modern technologies and are vastly automated. These developments have make machining equipments massively precise and error free resulting into surge in their demand from various industries. These equipments are also estimated to witness significant growth in coming years.
By Application
The application segment is categorized into construction, Job Shop, Automotive, Aerospace & Defense. The job shops segment had the largest demand for metal fabrication equipments. Job shops refers to small establishments which indulges themselves into manufacturing of limited custom made metal products. The number of Job shop operating in massive. For instance According to Manta, (an online resource) it was estimated that there were 29,485 companies’ listings under Machine Shops in the United States itself. There are millions of job shops operating all over the world and this massive presence makes them the largest consumer for metal fabrication equipments. Furthermore, automotive industry is also a significant consumer for metal fabrication equipments. The aerospace & deference applications are estimated to grow at substantial rate in the forecasted period.
By Region
The region segment is divided into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The Asia pacific region is estimated to be the largest market for metal fabrication equipments. Countries like China and India have large presence of fob shops and the construction industry is showing significant growth in this region. These factors have made this region the largest consumer for metal fabrication equipments in the world.
The European region is also estimated to hold a significant market share for metal fabrication equipment. One of the prevailing rational for this demand is presence of large number of automobile manufacturing in countries like Germany and Italy. Moreover, European region is renowned for its high quality engineered products and has presence of large number for advance industries. Making it dominant region for the demand metal fabrication equipment.
Metal Fabrication Equipment Market Competitive Landscape:
The competitive landscape of the Metal Fabrication Equipment Market has been thoroughly evaluated in this report. Along with in depth profiles of key market players operating in this industry. Surge in R&D, product innovation, business strategies, product launches were found to be propelling the growth of this market. Furthermore, several business insights like revenue breakup, product picture, company’s strengths, and weakness are also studied in this report. Key players in this market are-
Defiance Metal Equipment
DMG Mori
Hindustan Machine Tools
Interplex Holdings Pvt. Ltd.
Kapco
Komaspect
Lancer Fabtech Pvt. Ltd.
Matcor Matsu Group Inc.
Sandvik
Standard Iron And Wire Works
Trumpf
Watson
Amada
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