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The metal fabrication equipment market in the US is growing at a moderate rate and is expected to post a CAGR of close to 2% during the forecast period and this is calculated based on the spending by type of equipment. The market is witnessing an increase in demand from various key end-user industries such as construction, automotive and transportation, and heavy engineering.
The US construction industry had suffered during the 2008-09 recession, but post 2012, the industry has been slowly regaining its momentum. Every year, the construction industry is gaining confidence and registering positive growth, which is influenced by the commercial, transportation, power, and manufacturing segments. Thus bestowing a positive impact on the metal fabrication equipment market in the forecast period.
The welding segment constituted the largest segment in terms of process, with a market share of more than 26% in 2014. Welding is considered to be the most economical and efficient method to join metals permanently. It is the only process to prepare a joint in underwater and space environments.
The energy and construction segments are the largest end-user segments in the market, and being mature, their market shares are not expected to change much during the forecast period. The total revenue generated by the metal fabrication equipment market in the energy sector is expected to reach USD 703.27 million by 2019.
The metal fabrication equipment market is fragmented by the existence of many local vendors.
Leading vendors in this market are –
Other prominent vendors included in this report are Mayville Engineering, O'Neal, BTD, and Kapco.
Technavio’s market research analysts have analyzed upcoming trends, such as welding, which is an envolving technology in metal fabrication processes. The use of robots, better equipment, and use of software to automate welding process, etc., are potential technological advances that are helping the industry to grow.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the metal fabrication equipment market in the US. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
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