Market Trends of Metal Fabrication Equipment Industry
This section covers the major market trends shaping the Metal Fabrication Equipment Market according to our research experts:
Increasing Focus on the Implementation of Industry 4.0
The growth of Industry 4.0, or the Internet of Things (IoT), which is a key trend, is expected to have a profound influence on tooling and fabricating equipment, as it relates to the flow of information to machine tools and engineers/operators. Smart tooling is expected to provide real-time feedback about problems, such as vibration, and send alerts to the engineer.
The transition to Industry 4.0 starts with machining environments that are highly consistent in day-to-day operations. Tool presetting is vital to the beginning of this process. Once the tool holder assembly is preset, data can be sent directly to the machine tool (saving time and preventing potential machining mistakes) or it can be transferred to an RFID chip installed in the tool holder.
Manufacturers find the presetting process to be a huge factor in reducing scrap during production. The demand for Industry 4.0 solutions is increasing as companies move toward consistent, highly productive machining.
The market's growth potential are being driven by rising trends of digitization and internet penetration brought on by various sectors' increased focus on effectiveness and profitable productivity.
The potential for disrupting the industrial value chain has started to grow as a result of recent developments in digital technologies and industrial computerization. With the arrival of the fourth industrial revolution (4.1), businesses are benefiting from higher productivity, individualized products, decreased costs, and, most crucially, the creation of new income and business models.
With the global market environment being ravaged by the COVID-19 pandemic, digitalization across industries are accelerating at a rapid rate. This presents a new opportunity for digital leaders to develop and adopt creative solutions to accelerate digital transformation at all levels of the company.
The outbreak of the coronavirus is hastening the introduction of the fourth industrial revolution (Industry 4.0), propelling businesses across sectors to a higher level of Internet of Things (IoT) technology and workflow. The global supply chain is undergoing unprecedented instability as a result of the COVID-19 pandemic that has affected the entire planet. Some manufacturing firms have completely stopped production while others have seen a significant decrease in demand and a few witnessed an increase in demand
Growth of Machining Centers and the Machine Tools Market
The market for machining centers is being driven by the manufacturing industry's growing automation. Over the past few years, there have been substantial developments in the metal fabrication business.
The demand for machining centers is rising as a result of increased demand for high accuracy, decreased mistakes, and mass manufacturing. Additionally, manufacturers anticipate that a large reduction in operating costs will increase the attractiveness of their products. With less space available for production, manufacturers are concentrating on reducing cycle times and material handling, improving quality, and doing away with changeover times. It is anticipated that all of these causes will increase demand for machining centers.
The metal fabrication market in Asia-Pacific is likely to experience substantial growth over the next few years, owing to the robust growth in various application industries, especially in the automotive, aerospace, and defense markets.
Further anticipated effects include an increase in machining centers market revenue due to rising CNC machining center adoption. This is further due to the improved tool movement brought about by greater control and growing production process transparency.
Numerous variables, including position, speed, feed rate, and synchronization, can be precisely controlled thanks to the sophisticated CNC programming. Furthermore, the popularity of CNC technology is being driven by the simplicity of producing complicated surfaces.
The market for machining centers is expanding as a result of the rising demand for worker safety, high precision, real-time monitoring, higher flexibility, and high cutting parameters. Additionally, when Industry 4.0 solutions are used, there is an increase in there is an increase in demand for smart instruments. Thus, the market for linked machine centers is anticipated to expand.
China, Germany, and Japan dominated the global machine tool market in 2021. China produced 31% of the world's machine tools in that year, compared to 13% produced by Germany and 12% produced by Japan.
