Market Size of Metal Fabrication Equipment Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.30 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Market Concentration | High |
Major Players*Disclaimer: Major Players sorted in no particular order |
Metal Fabrication Equipment Market Analysis
The size of Metal Fabrication Equipment market is USD 74.1 billion in the current year and is anticipated to register a CAGR of over 4.5% during the forecast period
- The market for metal manufacturing suffered as a result of the coronavirus outbreak. Government-imposed import/export prohibitions, social distance requirements, and a plethora of regulations meant to prevent the spread of illness have severely disrupted manufacturing processes and stopped the cross-border supply chains for raw materials, which impacted the market. The market suffered a severe financial setback as a result. The aforementioned determinants will take the market's revenue trajectory into consideration over the projection period.
- Developing economies, such as India, China, and Indonesia, among others, along with industrialized countries, such as Japan and South Korea, have assisted the Asia-Pacific (APAC) region to dominate the manufacturing industry, in terms of demand, particularly with the demand for metal fabrication equipment.
- Europe is the second-largest market for metal fabrication equipment. Industrialized countries, such as Germany, France, and Italy, are expected to fuel the demand further in near future.
- Germany is the largest market in Europe, owing to the presence of huge automotive and ancillary industries, followed by Italy, and other markets, such as Switzerland and Russia.
- Growing demand is a direct result of global industrial and finance sectors experiencing changing patterns. Companies were pushed to relocate their manufacturing operations to these emerging economies by the growing population in the Asia Pacific region and the sizeable markets for several industry verticals.
- The automotive industry and its auxiliary sectors are the biggest consumers of fabrication equipment, closely followed by manufacturing companies. Over the course of the forecast period, demand and supply for key industries in the metal fabrication market, such as aerospace & defense, are anticipated to pick up.
- The use and demand for energy are being driven by the growing world population. The demand for fabrication equipment is expected to increase due to rapid industrialization. The high price of raw materials, however, is anticipated to be a significant barrier to the market's expansion. Nevertheless, it is projected that in the near future, new opportunities will be opened up for the producers thanks to technical improvements and efforts to design customized equipment.
Metal Fabrication Equipment Industry Segmentation
Metal fabrication is a process that involves bending, cutting, and assembling metal to create structures. The process of creating metal includes creating machinery and various structures out of various basic materials. The process of fabricating metal also entails building components, machinery, and buildings out of diverse raw materials. The demand for metal fabrication tools is increasing due to a variety of uses, including automotive, job shops, and secondary businesses.
A complete background analysis of the metal fabrication equipment market, which includes an assessment of the emerging trends by segments and regional markets, and significant changes in market dynamics and market overview.
The Metal Fabrication Equipment market is segmented by Geography (North America, Latin America, Asia-Pacific (APAC), Europe, and Middle East and Africa (MEA)), Service Type (Machining and Cutting, Welding, Forming, and Other Service Types), and End-user Industry (Automotive, Aerospace, Construction, Electrical and Electronics, and Other End-user Industries). The report offers market size and forecasts for metal fabrication equipment market in value (USD billion) for all the above segments.
Geography | |
North America | |
Latin America | |
Asia-Pacific (APAC) | |
Europe | |
Middle East and Africa (MEA) |
Service Type | |||||||||
| |||||||||
| |||||||||
| |||||||||
Other Service Types |
End-user Industries | |
Automotive | |
Construction | |
Aerospace | |
Electrical and Electronics | |
Other End-user Industries |
Metal Fabrication Equipment Market Size Summary
The metal fabrication equipment market is poised for growth, driven by the increasing demand from various industrial sectors, particularly in the Asia-Pacific region. This region, with its rapidly developing economies like China, India, and Indonesia, has become a hub for manufacturing, significantly contributing to the market's expansion. The automotive industry, along with aerospace and defense sectors, are the primary consumers of metal fabrication equipment, with the demand further bolstered by the ongoing industrialization and urbanization trends. Despite the challenges posed by the COVID-19 pandemic, which disrupted supply chains and manufacturing processes, the market is expected to recover and grow, supported by technological advancements and the adoption of Industry 4.0 solutions. These innovations are enhancing productivity and efficiency, offering new opportunities for market players.
In Europe, the market is also witnessing robust growth, with Germany leading due to its strong automotive and ancillary industries. The demand for machining centers is on the rise, driven by the need for high precision and mass manufacturing capabilities. The integration of smart tooling and real-time monitoring systems is expected to further propel the market, as companies seek to reduce costs and improve production efficiency. The global market landscape is characterized by a few dominant players, but there is significant competition from regional and smaller companies offering customized solutions. Recent acquisitions, such as those by Momentum Manufacturing Group and Ryerson Holding Corporation, highlight the strategic moves by companies to expand their capabilities and market presence, catering to the growing demand for advanced metal fabrication equipment.
Metal Fabrication Equipment Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.3 Market Restraints
-
1.4 Market Opportunities
-
1.5 Value Chain / Supply Chain Analysis
-
1.6 Industry Attractiveness - Porter's Five Forces Analysis
-
1.6.1 Threat of New Entrants
-
1.6.2 Bargaining Power of Buyers/Consumers
-
1.6.3 Bargaining Power of Suppliers
-
1.6.4 Threat of Substitute Products
-
1.6.5 Intensity of Competitive Rivalry
-
-
1.7 Technological Trends in the Market
-
-
2. MARKET SEGMENTATION
-
2.1 Geography
-
2.1.1 North America
-
2.1.2 Latin America
-
2.1.3 Asia-Pacific (APAC)
-
2.1.4 Europe
-
2.1.5 Middle East and Africa (MEA)
-
-
2.2 Service Type
-
2.2.1 Machining and Cutting
-
2.2.1.1 Machining Centres
-
2.2.1.2 Lathe Machines
-
2.2.1.3 Drilling, Grinding, Horning, and Lapping Machines
-
2.2.1.4 Laser, Ion Beam, and Ultrasonic Machines
-
2.2.1.5 Gear Cutting Machines
-
2.2.1.6 Sawing and Cutting-off Machines
-
2.2.1.7 Other Handling and Cutting Equipment
-
-
2.2.2 Welding
-
2.2.2.1 ARC Welding
-
2.2.2.2 Oxy-fuel Welding
-
2.2.2.3 Laser Beam Welding
-
2.2.2.4 Other Types of Welding
-
-
2.2.3 Forming
-
2.2.3.1 Forging Machines and Hammers
-
2.2.3.2 Bending, Folding, and Straightening Machines
-
2.2.3.3 Shearing, Punching, and Notching Machines
-
2.2.3.4 Wire Forming Machines
-
2.2.3.5 Other Presses and Metal Forming Machines
-
-
2.2.4 Other Service Types
-
-
2.3 End-user Industries
-
2.3.1 Automotive
-
2.3.2 Construction
-
2.3.3 Aerospace
-
2.3.4 Electrical and Electronics
-
2.3.5 Other End-user Industries
-
-
Metal Fabrication Equipment Market Size FAQs
What is the current Metal Fabrication Equipment Market size?
The Metal Fabrication Equipment Market is projected to register a CAGR of greater than 4.30% during the forecast period (2024-2029)
Who are the key players in Metal Fabrication Equipment Market?
Trumpf, Shenyang Machine Tool, Okuma, DMG Mori and Colfaxcorp are the major companies operating in the Metal Fabrication Equipment Market.