Global Metal Fabrication Equipment Market Grows at a CAGR

The global metal fabrication equipment market is expected to reach USD 28.3 billion by 2031, growing at a CAGR of 4.1% between 2021 and 2031.

New York, Global Insight Services’ Metal Fabricating Equipment Market Report is the only authoritative source of information on the metal fabricating equipment market. The report will provide you with an analysis of the impact of the latest market disruptions such as the Russian-Ukrainian war and Covid-19 on the market. The report provides qualitative analysis of the market using various frameworks such as Porters and PESTLE analysis. The report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. The report also includes a comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, and recent events such as merger and acquisition activities in the market.

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Metal fabrication is essential in most manufacturing processes. It has its importance in companies where the construction of metal components for various applications is involved. Thanks to major technological advances such as the implementation of IoT and automation, metal fabrication equipment can now deliver better results than conventional equipment. This is expected to boost the global metal fabrication equipment market soon.

Trends and key drivers:
All automakers have to meet strict pollution regulations, and the easiest way is to minimize their weight. Aluminum alloys, sophisticated high-strength steels, magnesium, composite materials, carbon fiber and a variety of plastics are all used in automobile production.
Regarding the flow of information to machine tools and engineers/operators, the rise of industry or the Internet of Things (IoT), which is a crucial trend, is expected to have a profound impact on manufacturing tools and equipment. Smart tools should provide real-time information on issues such as vibration and push notifications to the engineer.

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Segmentation:

By type of equipment

-Machining
-Chopped off
-Forming
-Welding
-Others

By Outlook app

-Job shops
-Automotive
-Aerospace and Defense
-Mechanical application

Key players:
-Jet Edge, Inc.
-Jenoptik SA
-Challenge Metal Goods
-Interplex Holdings Pte.
-Watson Engineering, Inc.
-Launch Fab Tech Pvt. ltd.

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This press release was published on openPR.

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