Nov 11, 2020, 04:33 EST
Shibuya-ku, Tokyo, Japan, Japan, Nov 11, 2020, 04:33 /Comserve / -- Global Metal Fabrication Equipment Market is valued approximately at USD 73.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.90% over the forecast period 2020-2027.
Global Metal Fabrication Equipment Market is valued approximately at USD 73.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 3.90% over the forecast period 2020-2027. Metal fabrication is a process that includes structuring of metals by cutting, bending, milling, forming, welding, machining, stamping, assembling processes and finishing via metal fabrication equipment. It involves building metal components for various applications such as automotive, job shops, mechanical application, aerospace & defense and others. The rising technological advancements such as IoT and automation as well as increasing Focus on the Implementation of Industry 4.0 has led to positive changes in metal fabrication industry which in result has driven the demand of the market. Further the increasing demand for machining and metal processing with the growing number of smart factories in industrial sector will drive the market. For instance, according to Capgemini Digital Transformation Institute, 43% of the world, has operational smart factories, while 33% have formulated the smart factory initiative.
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The remaining 8% are to adopt smart factories in the next 3-5 years. The increasing dependency on machines and metal processing along with change in lifestyle is promoting the adoption of Metal Fabrication Equipment over the forecast period. The, increasing population growth along with growing consumption and demand for energy and rapid urbanization has driven the growth of metal fabrication equipment market. For instance: as per Statista, the total population of India was 1.26 billion inhabitants in 2014 and is anticipated to rise to 1.44 billion inhabitants in 2024. However, the availability of raw material and its price fluctuation is the major factor restraining the growth of global Metal Fabrication Equipment market during the forecast period.
The regional analysis of global Metal Fabrication Equipment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the the fast adoption of new technology and growing focus on cost reduction in advertising. Factors such as developing economies such as India, China, and Indonesia among others coupled with industrialized nations such as Japan and South Korea help the region dominate the manufacturing industry in terms of demand along with the demand for metal fabrication equipment.
Major market player included in this report are:
Bystronic Laser Ag
Jet Edge Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Aerospace & Defense
Rest of the World
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