SAN FRANCISCO, June 25, 2019 /PRNewswire/ -- The global metal fabrication equipment market size is projected to reach USD 92.84 billion by 2025, expanding at CAGR of 3.90%, according to a new report by Grand View Research, Inc. The market is fueled by rapid industrialization in developing economies from Asia Pacific amid increasing population and the need for advanced infrastructure.
Key suggestions from the report:
- Mechanical component is expected to be the fastest growing application segment with an estimated CAGR of 4.26% from 2018 to 2025
- Aerospace and defense manufacturing industry is one of the most significant emerging application segments
- U.S. metal fabrication equipment market is estimated to be the fastest growing in North American region, registering a CAGR of 3.81% over the forecast period
- The South Korea job shops segment is expected to reach USD 1.56 billion, registering a CAGR of 4.31% from 2018 to 2025
- Key market players are Amada Corporation, TRUMPF, and Bystronic Laser AG.
Read 100 page research report with TOC on "Metal Fabrication Equipment Market Size, Share & Trends Analysis Report By Type (Cutting, Machining, Welding), By Application (Job Shop, Automotive, Aerospace & Defense), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/metal-fabrication-equipment-market
The demand for metal fabrication equipment is dominated by applications such as job shops, automotive, and ancillary industries among others. The automotive industry, under continuous evolution in terms of technology and materials used, is a major application segment for the advanced state-of-the-art equipment. Changing technological and raw material requirements are a result of increased stringency of emission and safety norms imposed by governments across the globe.
Asia Pacific leads the metal fabrication equipment market with the majority of machines consumed in China followed by Japan and South Korea. The Chinese fabrication equipment manufacturing base is huge and still imports most of the advanced machinery from the European manufacturers based in countries such as Germany and Switzerland. Other emerging economies such as India, Indonesia, and Vietnam are expected to further drive the regional demand for fabrication equipment.
The metal fabrication equipment market has experienced stagnation in demand over the last few years owing to the global economic slowdown. Europe and North America experienced excessive downfall in terms of sales from 2009 to 2015, due to recession. However, the European automotive industry has regained momentum and the market is expected to continue surging over the forecast period. North America is anticipated to be driven by the exponential growth in automotive manufacturing in Mexico coupled with the growth of Electric Vehicle (EV) segment in U.S. Surge in electric vehicle manufacturing has compelled the use of advanced fabrication equipment capable of operating across a variety of metals and composites.
Grand View Research has segmented the global metal fabrication equipment market on the basis of type, application, and region:
- Metal Fabrication Equipment Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Metal Fabrication Equipment Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Metal Fabrication Equipment Application Regional Outlook (Revenue, USD Billion, 2015 - 2025)
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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