The Global Metal Fabrication Equipment Market size is expected to reach $103.43 billion by 2027, rising at a market growth of 9.62% CAGR during the forecast period.
Metal fabrication refers to a machine or tool used in the manufacturing of various metal products or components. This equipment is widely utilized in different business segments, wherein the development of metal components plays a crucial role. In addition, metal fabrication equipment provides enhanced outcomes than traditional equipment due to the various technological enhancements that took place in the industry. This is expected to further augment the growth of the metal fabrication market over the forecast period.
There are many engineers and architects who prefer the utilization of steel and fabricated steel products. These fabricators are used to make different steel parts like handrails, girders, steel beams, ladders, and platforms that are utilized to develop the basic structure for warehouses, bridges, buildings, and every type of megastructures. Nowadays, it is not even possible to think about the construction industry without metal fabrication.
Welding includes joining two or more pieces of metal by using pressure and heat. For this purpose, metal fabrication equipment is used to make any shape or size of the metals. Companies using metal fabrication equipment can develop any kind of products from metals like copper, aluminum, iron, and others through numerous kinds of welding processes from Metal Inert Gas (MIG) Welding, Tungsten Inert Gas (TIG) Welding, and Stick or Arc Welding.
Companies opt for Gas Tungsten Arc Welding or TIG Welding, particularly for complicated projects in the case of heavy metal fabrication. Advanced welding tools and equipment like TIG welders or tungsten electrode rods are used by the welders to make short arcs on heavy metals. These kinds of welding machines produce low welding fumes since they utilize shielding gas. This procedure utilizes solid wire electrodes to carry out welding constantly and quicker along with shielding the metal from reacting to external aspects.
COVID-19 Impact Analysis
The outbreak of the COVID-19 pandemic has negatively impacted the metal fabrication equipment market. The imposition of various regulations like complete lockdown, social distancing norms, and the ban on imports & exports has disrupted the supply chain of raw materials across borders.
The demand for various healthcare equipment, beds, and other products has compelled governments to allow the production of these products with a restricted labor workforce, which has supported the demand for metal fabrication equipment in the market. However, as things are getting back on track and governments have withdrawn restrictions from the manufacturing units, the demand for metal fabrication equipment is expected to surge in the coming years.
Market Growth Factors:
Expansion of industrial sector across the world
There is a high growth observed in the industrial sector of the world since the world is moving to capitalism. Several manufacturers are opting for key strategies like reskilling their workforce or recasting their employment to gain and retain talent. In addition, manufacturers are improving the supply chain through the adoption of various advanced solutions to get a competitive advantage in the market. The availability of numerous latest technologies is helping companies and manufacturers to boost the efficiency of the production units.
Customization of metal fabrication equipment can reduce the wastage
There are many manufacturers of metal fabrication equipment that offer customization of the equipment as per the requirements of the customers. Different companies have different requirements that are based on the raw material they use for manufacturing their end products and the kind of environment they deal in. Many companies deal in delicate raw materials that need to be handled with care and thus, the machine used in the fabrication of such materials should also adapt to it.
Market Restraining Factor:
Chances of mechanical failures
Any kind of machine, equipment, and tools used across the manufacturing units have high chances of mechanical as well as technical failure. To obtain a high efficiency from such equipment, companies need to make sure that they work in their proper conditions. These machineries need to be maintained and regularly inspected to ensure their high efficiency and better outcomes.
Type Outlook
Based on type, the metal fabrication equipment market is segmented into cutting, machining, welding, bending, and others. The metal cutting equipment acquired the maximum revenue share in the metal fabrication equipment market in 2020 and is anticipated to display a promising growth rate during the forecast period. It is owing to the rising demand from end-use industries like automotive and the ever-growing industrial sector across emerging nations.
Application Outlook
Based on application, the metal fabrication equipment market is segmented into job shops, automotive, aerospace & defense, mechanical application, and others. The job shop segment is estimated to acquire the maximum share in the metal fabrication market over the forecast period. A job shop refers to a kind of manufacturing process, wherein small sets of a range of custom products are manufactured. In addition, job shops move from one consignment to another very frequently, and thus, it requires high-precision equipment in the making of different metal products.
Regional Outlook
Region-wise, the metal fabrication equipment market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific emerged as the leading region with the highest share in the metal fabrication equipment market in 2020 and is estimated to maintain this dominance over the forecast period. The presence of various emerging nations like China and India along with the highly industrialized nations like South Korea and Japan that have the largest manufacturing sector is expected to surge the demand for metal fabrication equipment in this region.
Cardinal Matrix - Metal Fabrication Equipment Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; TRUMPF GmbH + Co. KG, Amanda Holdings Co. Ltd., Bystronic Laser AG and IPG Photonics Corporation are the forerunners in the Metal Fabrication Equipment Market. Companies such as OMAX Corporation, Jenoptik AG, Colfax Corporation, and Messer Cutting Systems GmbH are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bystronic Laser AG, IPG Photonics Corporation, Colfax Corporation, TRUMPF GmbH + Co. KG, Amanda Holdings Co. Ltd., Jenoptik AG, Jet Edge International, OMAX Corporation (Hypertherm), and Messer Cutting Systems GmbH.
Recent Strategies Deployed in Metal Fabrication Equipment Market
Partnerships, Collaborations and Agreements:
- Sep-2021: TRUMPF entered into a partnership with Starmatik, the Italian expert for robot automation of sheet metal processing machines. This partnership aimed to increase the supply of particular modular solutions for Trumpf’s Smart Factory resolutions which consider the general trend toward automation. Through this partnership, customers can get the advantages of a significant process acceleration.
- Sep-2021: AMADA extended its partnership with TotalEnergies, a French transnational unified oil, and gas company. This partnership aimed to provide original equipment oils and lubricants to Amada Europe’s factories plus an array of Amada's proprietary lubricants.
- Dec-2020: Trumpf formed a partnership with Jungheinrich, a German corporation dealing in the warehousing, material handling equipment, and material flow engineering industries. In this partnership, TRUMPF is expected to provide TruTops, a production-control software, which assists producers to make their logistics effective and efficient. In addition, Jungheinrich is expected to supply autonomously transport sheet metal components among several storage positions and machine instruments.
- Aug-2020: Trumpf partnered with Fraunhofer IPA, a prestigious research organization. This partnership aimed to launch artificial intelligence (AI) resolutions for interconnected production on an industrial magnitude. In addition, the companies is expected to extend AI leadership in sheet-metal fabrication.
Acquisitions and Mergers:
- Nov-2021: Bystronic acquired Antil, an automation expert and an advanced technology company. Through this acquisition, Bystronic is expected to expand its product portfolio in their significant domain and is expected to henceforth be capable of catering to consumer demands efficiently.
- Mar-2021: Trumpf took over Lantek, a U.S.-based software company. This acquisition focused on efficiency and interconnected sheet-metal manufacturing whilst fulfilling the Smart Factory solution portfolio. Under this acquisition, Lantek is expected to assist Trumpf in systematically addressing the sheet metal process chain, regardless of machines from different producers.
- Apr-2020: Amada acquired MacGregor Welding Systems, a market leader in micro-welding technology. Through this acquisition, Amada is expected to grow through the efficient cooperation of teams of both the companies and to additionally formulate novel various welding products and resistance welding which meet the needs of modern industrial consumers globally.
- Jan-2020: AMADA acquired LKI Käldman, a producer of resolutions for FMS & intralogistics solutions and sheet-metal handling automation. Through this acquisition, AMADA is expected to meet the growing demand for the integration of automation equipment and fiber laser cutting machines which is expected to also cater to the automation requirements of the European consumers.
Product Launches and Product Expansions:
- Oct-2021: TRUMF unveiled TruLaser Weld 1000, an entry-level machine for computerized laser soldering. The product is expected to help sheet-metal fabricators to shift to automated laser welding. It allows small enterprises to make use of the advantages of automated laser welding and bridges a gap in the welding market by enabling them to increase their efficiency of production and obtain an upper hand in the market.
- Sep-2021: IPG photonics launched LightWELD 1500 XC, a modern portable laser welder with new functionality for post- and pre-weld cleansing operations. The product enables fabricators to instantly capitalize cost and time-saving benefits versus conventional post- and pre- weld cleaning techniques. Along with that, the product is expected to expand the functionalities and simplicity of use without LightWELD without adding in weight and size.
- Jul-2021: Messer Cutting Systems unveiled Element 400 Cutting Machine that consists of the Global Connect onboard controller reconfigured HMI software and unified OmniFab compatibility. The system is expected to help in enhancing real-time transparency on management, downtime status, and production reports that are shared via the controller, through a PC, or tablet.
- Jul-2020: IPG Photonics Corporation released YLR-U series near-infrared 1 μm fiber lasers, the world's smallest and highest performance kW-class continuous wave ytterbium fiber lasers. The laser has a lightweight & small size along with providing advanced functioning with a record power to volume ratio. These lasers are developed to manage a diversity of drilling applications, welding, and drilling applications.
- Feb-2020: Amada launched The ENSIS Ajis, LCG3015AJII & IoT enable process control software. The solution helps in better the beam with the aid of beam modulation. It regulates itself appropriately and therefore provides an improved finish along with the ability to cut thick or thin metal on the same machine.
Geographical Expansions:
- Oct-2021: Bystronic announced the expansion of its geographical footprints by establishing its New Headquarters for the Americas. Through this expansion, the company is expected to be able to assemble machines in the U.S. and shrink the requirement of importing them from Europe. This is expected to substantially reduce shipping and delivery costs, which is a valuable competitive edge, considering the worldwide supply chain limitations.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Cutting
- Welding
- Bending
- Machining
- Other Types
By Application
- Job Shops
- Automotive
- Aerospace and Defense
- Mechanical Components
- Other Applications
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Bystronic Laser AG
- IPG Photonics Corporation
- Colfax Corporation
- TRUMPF GmbH + Co. KG
- Amanda Holdings Co. Ltd.
- Jenoptik AG
- Jet Edge International
- OMAX Corporation (Hypertherm)
- Messer Cutting Systems GmbH
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Table of Contents
Companies Mentioned
- Bystronic Laser AG
- IPG Photonics Corporation
- Colfax Corporation
- TRUMPF GmbH + Co. KG
- Amanda Holdings Co. Ltd.
- Jenoptik AG
- Jet Edge International
- OMAX Corporation (Hypertherm)
- Messer Cutting Systems GmbH
Methodology
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