Metal fabrication equipment: Key market research findings
- Emergence of stir welding technology to boost market growth
- Metal cutting accounts for a majority of the market’s revenue
- Key vendors – Colfax, DMG Mori, DMTG, TRUMPF, and Yamazaki Mazak
According to Technavio’s market research analysts, the global market for metal fabrication equipment is expected to grow at a CAGR of almost 3% between 2016 and 2020. The growth of the market is fueled by the fourth industrial revolution brought about by the increased adoption of automation across several industry verticals. The increasing demand for products that are superior in quality due to globalization and population growth has pushed companies to undertake automation in the manufacturing processes. Industry 4.0 offers new tools for optimized energy consumption, greater information storage in products, and real-time yield optimization. During 2015, APAC accounted for around 47% of the overall market share to become the dominant shareholder in the global metal fabrication equipment market. The rising demand from end-user industries such as automotive, construction, aerospace and defense, electrical equipment, and industrial machinery drive the growth of the metal fabrication equipment market.
The new market research report from Technavio presents a breakdown and analysis of the metal fabrication equipment market based on the application.
“The emergence of friction stir welding technology in the automotive sector is the latest trend that will influence the global market positively. Friction stir welding is an innovative and novel technique that makes use of frictional heat combined with precisely controlled forging pressure to join two metals. This technique adds high-integrity to the final product, by eliminating the possibility of mechanical distortions as the entire operation is carried out under a low operating temperature,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
By 2020, the metal cutting segment will continue its dominance over the global market for metal fabrication equipment. The projected growth of this market segment is likely to be fueled by the growing demand from the highly developed manufacturing economies of Europe and increasing manufacturing opportunities in Asia. Metal-cutting machine tools are usually powered by electric motors, and employ one of many cutting processes such as milling, grinding, turning, boring, and others to achieve the desired cut on the metal workpiece. Skilled machinists make use of a variety of tools and fittings to achieve the desired cuts and levels of precision on a workpiece. The workpiece can range from a household screw to a jet-engine turbine blade.
The key vendors in the global metal fabrication equipment market include Colfax, DMG Mori, DMTG, TRUMPF, and Yamazaki Mazak. Vendors in the market are trying to keep pace with the growing demand from customers for high precision and cost-effective equipment to maintain the productivity of the entire fabricating assembly, where high-speed machines like the high-speed fiber laser cutters are gaining traction. Thus, the agenda of increasing overall productivity without compromising operator safety leads the priority list of manufacturers.
A more detailed analysis is available in the Technavio report, Global Metal Fabrication Equipment Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
