Metal Fabrication Equipment Market– Statistics And Analysis & Forecast To 2025Posted by Mrudula Anil Karmarkar on April 7th, 2022 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 an increasing population and the need for advanced infrastructure. The exponential spread of COVID-19 worldwide has had an adverse impact on the semiconductor industry with manufacturing facilities temporarily shut, leading to a significant slowdown in the production. The outbreak could result in disruption across the ecosystem with several supply chain participants shifting their production facilities outside China, thereby reducing their over-reliance on China. Lockdowns imposed by the governments in the wake of the Covid-19 outbreak has not only affected manufacturing but also hauled consumer demand for semiconductor devices. Our analysts predict a decline in semiconductor revenue by over 1% in 2020 as compared to that in 2019. The report will account for Covid19 as a key market contributor. 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. Read more information@ https://www.grandviewresearch.com/industry-analysis/metal-fabrication-equipment-market 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. Further key findings from the study suggest:
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 an 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 the 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)
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