Metal Fabrication Equipment Market Analysis | 2023-2028

Market Insights

The metal fabrication equipment market was estimated at USD 64.29 billion in 2022 and is likely to grow at a CAGR of 3.95% during 2023-2028 to reach USD 81.11 billion in 2028.

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Market Dynamics

Introduction

Metal fabrication equipment refers to a variety of machinery and tools used in the process of shaping, cutting, and forming metal into desired products or structures. This equipment is essential in industries such as manufacturing, construction, automotive, aerospace, and more. Some common types of metal fabrication equipment include cutting equipment, welding equipment, bending and forming equipment, finishing tools & others.

Market Drivers

The market is driven by a host of factors, some of which are noted below:

• Increasing demand for metal processing and machining in developing countries: Developing countries are rapidly industrializing, which is driving the demand for metal processing and machining equipment. This is because metal processing and machining are essential for the production of a wide variety of products, such as machinery, vehicles, and infrastructure.
• Shifting trends in the global finance and manufacturing sectors: The global finance and manufacturing sectors are constantly evolving, which is also driving the demand for metal processing and machining equipment. For example, the growing popularity of 3D printing is increasing the demand for metal 3D printers.
• Rising consumption and demand for energy due to the growing global population: The growing global population is increasing the energy demand, which is also driving the demand for metal processing and machining equipment. This is because metal processing and machining are used in the production of a variety of energy-related products, such as power plants, pipelines, and wind turbines.
• Rapid industrialization: Rapid industrialization is also driving the demand for metal processing and machining equipment. This is because industrialization requires the production of a wide variety of metal products, such as machinery, vehicles, and infrastructure.

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Key Players

The following are the key players in the metal fabrication equipment market:

• Amada Co, Ltd
• Bystronic
• Colfax Corporation
• IPG Photonics
• Jenoptik AG
• Jet Edge
• Messer Cutting Systems
• Omax Corporation
• Shenyang Machine Tool
• The TRUMPF Group

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By Type

 "Cutting equipment segment held a significant market share in 2022"

The market is segmented into cutting, machining, welding, bending, and others. The cutting equipment segment held a significant market share in 2022 & is expected to lead the market during the forecast period.

The segment's growth can be attributed to the rising demand from the automotive industry and the thriving industrial sector of the developing world. Machine tools, on the other hand, are expected to grow significantly due to an increase in the number of small and medium-sized industries and metal workshops, particularly in the Asia-Pacific region.

By Application Type

"Automotive industry occupied the largest market share in 2022"

The market is segmented into job shops, automotive, aerospace & defense, mechanical application manufacturing, and others. The automotive industry occupied the largest market share in 2022 & is one of the biggest demand generators for metal fabrication equipment due to the constantly evolving designs and material combinations in automobile manufacturing.

Technological advancements and ease of operation have helped to create long-term demand for this equipment across a wide range of industries.

Regional Analysis

"Asia-Pacific dominated the market with a significant share in 2022"

Asia-Pacific dominated the market with a significant share in 2022 & is estimated to be the leading region in the market during the forecast period on account of the massive demand for metal fabrication equipment in countries such as India, China, Japan, and South Korea.

On the other hand, Europe is estimated to be the second-largest market for metal fabrication equipment. Given the huge automotive and ancillary industries, Germany is the largest market for the product in Europe.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s metal fabrication equipment market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The metal fabrication equipment market is segmented into the following categories:

By Type

• Cutting
• Machining
• Welding
• Bending
• Others

By Application Type

• Job Shops
• Automotive
• Aerospace & Defense
• Mechanical Application Manufacturing
• Others

By Region

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)

• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the types by application type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.