Mar 24, 2020, 07:19 EST
New York, United States, Mar 24, 2020, 07:19 /Comserve / -- Metal fabrication is a method that includes building structures of metals by bending, cutting, and assembling. Metal fabrication equipment uses value added process that encompasses the construction of machines and other structures from raw materials.
According to a recently published report by Research Nester on “Global Metal Fabrication Equipment Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the metal fabrication equipment in terms of market segmentation by equipment type, by application, by end-user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global metal fabrication equipment market is segmented by equipment type into machining, cutting, forming, welding, and others; by application into residential, commercial and industrial; by end-user into oil & gas, automotive & aviation, power plants, chemicals & mining, construction and others. The global metal fabrication equipment market is anticipated to record a significant CAGR over the forecast period i.e. 2019-2027.
Metal fabrication is a method that includes building structures of metals by bending, cutting, and assembling. Metal fabrication equipment uses value added process that encompasses the construction of machines and other structures from raw materials. Various applications such as automotive, job shops and secondary ventures among others are escalating the demand for metal fabrication equipment.
Wide Applications in Manufacturing
With increasing demand for the fabricated metal products in the market globally, the metal forming equipment demand has been increasing substantially. These fabricated metals have various applications in multiple manufacturing industries such as spring manufacturing, boiler manufacturing, and others. Therefore, the global metal fabrication equipment market is experiencing tremendous growth with the growing demand for metal works.
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With technological advancements such as 3D printing and automation, the metal fabrication equipment market is growing at an extensive rate. For instance, AMADA has developed TOGU -III which has been created to assist the grinding process and to reduce the considerable loss in the production time which will help every customer in obtaining the highest quality of grinding. Further, rising demand to maintain the quality in the final end-use products for the manufacturing industry is also one of the major reason, promoting the growth of the global metal fabrication equipment market over the forecast period.
However, high cost associated with metal fabrication equipment is anticipated to be a key restraint for the market growth during forecast period. Furthermore, the availability of raw material and the price fluctuation associated with the equipment are projected to restrain the market growth in coming years.
On the basis of regional analysis, the metal fabrication equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Asia Pacific region holds the largest market share owing to major technological advancements in the automobile industry. The growth of metal fabrication equipment in the region is attributed to major infrastructural development in countries like China and India. The market in North America is expected to contribute significant revenues share in the global metal fabrication equipment market, owing to increasing demand from aerospace and defense sector.
This report also provides the existing competitive scenario of some of the key players of the metal forming equipment marketwhich includes company profiling of Amada, Colfax, Kapco and DMG Mori. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the metal fabrication equipment marketthat will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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