Metal Fabrication Equipment Market Analysis Report By Type, By Application And Segment Forecasts From 2018 To 2025

Industry Insights

The metal fabrication equipment market size across the globe was valued at USD 68.36 billion in 2017. It is projected to witness a 3.90% CAGR over the forecasted years, 2018 to 2025. The rising adoption of metal processing and machining equipment for the development of finished quality products is expected to drive market growth in the upcoming years.

The industry of metal fabrication had witnessed significant growth in the early 2000s owing to booming industrial exports and the automobile industry across the globe. Thus, the majority of the companies located across developing regions of Asia Pacific had set up facilities for the production of fabrication equipment.

The manufacturing industry is a key consumer of fabrication equipment followed by the automobile industry. Also, the adoption of this equipment in the aerospace & defense sector is expected to gain traction in the upcoming years. Moreover, initiatives undertaken by several governments for promoting the growth of the manufacturing sector are expected to trigger the demand for fabrication equipment.

Surging global population and rapid industrialization have led to the rise in demand and consumption of energy. But, an increase in raw material prices and rising laborer costs are anticipated to hinder the growth of the market across the globe.

Type Insights

In 2017, the segment of metal cutting accounted for a dominant share across the global metal fabrication equipment market. It is also anticipated to show a substantial growth with a 4.08% CAGR from 2018 to 2025. This growth can be associated with the need for metal cutting prevailing across the automotive and consumer electronics sector. Moreover, the rising presence of manufacturing facilities in developing regions is projected to propel the demand for this segment.

The machining segment is also projected to witness higher demand in the upcoming years. This can be attributed to the rising number of job shops and automotive product manufacturers across the globe. The growth for this segment is also driven by the rising preference for machining equipment prevailing across SMEs located in developing countries like China and India.

Application Insights

The automotive application segment held a substantial share across the global market and is projected to generate revenue of USD 20.27 Billion until 2025. This can be associated with their rising demand for this equipment to develop new products as per emerging trends and technologies. Also, features like technological advances and ease of operations are anticipated to trigger market growth.

The aerospace & defense application segment also makes significant use of this equipment for building aircraft and carriers. The equipment used in this segment has higher quality and precision and inculcates state-of-the-art technologies in them. Moreover, the development of UAV (Unmanned Aerial vehicles) is anticipated to trigger the demand for metal fabrication equipment across the globe.

Regional Insights

In 2017, Asia Pacific held the largest share across the global metal fabrication equipment market and generated revenue of USD 32.06 Billion. This can be associated with the surging manufacturing industry across countries like China, Japan, and India coupled with boosting demand for fabrication equipment in them.

Europe held the second-largest share across the global market, in 2017. This can be attributed to the presence of industrialized countries like France, Italy, and Germany. Germany is considered the largest market across Europe due to the presence of a huge ancillary and automobile industry. Also, the rising number of production facilities in Russia and Switzerland is expected to trigger market growth in this region.

COVID-19 Impact Insights

The global market is negatively impacted on account of the ongoing COVID-19 pandemic. This can be attributed to the imposition of lockdown by several countries leading to stagnancy in the manufacturing processes. Also, a reduction in the availability of skilled laborers coupled with rising raw material prices of metals like iron is projected to hamper the market growth. Moreover, recession across the automobile sector owing to reduced demand for vehicles and economic uncertainty prevailing among working professionals is projected to obstruct the market growth over the post-pandemic period.

Metal Fabrication Equipment Market Share Insights

The global market includes key players such as TRUMPF, Amada Corporation, Omax Corporation, Colfax Corporation, Bystronic Laser AG, Messer Cutting, and Jenoptik AG. They are continuously developing the latest technologies to widen their geographical reach and expand the product portfolio.

Strategies like capacity expansions and widening of distributor networks are being undertaken by these players to gain a competitive advantage. Also, they are focusing on the reduction of manufacturing costs for smaller lots to cater to local markets.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2015 to 2025 in each of the sub-segments. For the purpose of this study, Million Insights has segmented the global metal fabrication equipment market on the basis of type, application, and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Cutting
    • Machining
    • Welding
    • Bending
    • Others

• Application Outlook (Revenue, USD Billion, 2015 - 2025)
    • Job Shops
    • Automotive
    • Aerospace & Defense
    • Mechanical Application
    • Others

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • The U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • Italy
    • The Asia Pacific
        • China
        • India
        • Japan
        • South Korea
    • RoW