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Market research analysts at Technavio predict that the global sheet metal equipment market will grow steadily during the next four years and will post a CAGR of almost 7% by 2020. This market research analysis identifies the growing demand for fabricated metal products as one of the primary growth factors for the sheet metal tools market. The recent years have witnessed a rapid increase in the demand for fabricated metal products from the US. Several countries such as Mexico, Canada, and China rely heavily on the US’s supply of fabricated metals products. Though most manufacturing companies produce only a limited range of products, the requirement of fabricated metals will be considerably high from the segments such as cutlery, boiler, metal can, and springs. This will subsequently result in the increase in demand for machine tools such as sheet metal equipment from this region, in turn, fueling the growth of the sheet metal fabrication tools market.
The increased adoption of metal additive manufacturing or 3-D printing is one of the major trends that will gain traction in the sheet metal machinery market in the next four years. This manufacturing technology involves building up thin layers of material and can effectively produce complex shapes that are not possible with traditional casting and machining methods. 3D printing reduces the number of items in the assembly line, eliminates the need for tools resulting in reduced tooling costs, allows access to complex geometries, and also enables the manufacture of lightweight and customized items, which will result in a rapid increase in their adoption.
Marked by the presence of a number of sheet metal equipment manufacturers, the market appears to be fragmented. The competitive environment among the major vendors in the market is quite intense. The market is also marked by the existence of several regional and local vendors. These vendors manufacture and provide customized and energy-efficient equipment for a comparatively lower cost, in turn, posing a stiff competition to the international vendors. Though the entry barriers are low, the new vendors find it difficult to compete with the international vendors in terms of quality, features, functionalities, and services. The introduction of products with new features and technologies is expected to intensify the level of competition among vendors.
The leading vendors in the market are -
The other prominent vendors in the market are Allied Machine & Engineering, Byjc-Okuma (Beijing) Machine Tools, Doosan Infracore, Fair Friend Group, FANUC, GF Machining Solutions, Haas Automation, Hardinge, JTEKT, Kennametal, Komatsu, Makino Milling Machine, and Sandvik.
During 2015, the metal cutting equipment segment accounted for almost 68% of the total market shares and dominated this industry. The growth of this market segment mainly attributes to the demand for metal cutting equipment from the developed countries in Europe and the emerging economies in Asia. Analysts estimate this market segment to grow at a CAGR of more than 7% during the forecast period.
This market study predicts that in terms of geographical regions, APAC will account for the major shares of the sheet metal equipment market throughout the forecast period and also estimates that this region will account for almost 40% of the total market shares by 2020. The rise in investments in major end-user segments such as the automotive and aviation industry in the developing countries such as China and India, will drive the growth of the sheet metal tools equipment market in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
List of abbreviations
PART 16: Explore Technavio
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