Metal Fabrication Equipment Market Growth | 2028

Market Insights

The metal fabrication equipment market is estimated to grow from USD 64.29 Billion in 2022 to USD 81.11 Billion by 2028 at a healthy CAGR of 3.95% during the forecast period.

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What is metal fabrication equipment?

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.

Metal fabrication equipment is used in a wide range of industries that work with metal components and structures.

Here are some industries that commonly utilize metal fabrication equipment:

• Construction: Metal fabrication equipment is extensively used in the construction industry for the manufacturing of structural steel components, beams, columns, and trusses.
• Automotive: The automotive industry relies heavily on metal fabrication equipment for producing various parts and components, such as chassis, body panels, exhaust systems, brackets, and engine parts.
• Aerospace: In the aerospace industry, metal fabrication equipment plays a crucial role in the production of aircraft parts and assemblies. This includes the fabrication of wings, fuselage sections, engine components, landing gear, and other metal structures. 
• Defense and Military: The defense industry relies on metal fabrication equipment for the production of military vehicles, weapons, ammunition, and other military equipment. It involves the fabrication of armored vehicles, missile components, aircraft parts, and specialized equipment used by the military

Market Dynamics

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 demand for energy, 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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Segment Analysis

Type

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.

Application Trends

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 & 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.

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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.

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 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)

Key Players

Some of the key players in the metal fabrication equipment market are-

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

Research Methodology

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 10 detailed primary interviews with the market players across the value chain in all four regions and with 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 the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

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

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