About Sheet Metal Equipment
Sheet Metal Equipment is referring as a machine which is used for the processing of sheet metal. While Sheet metal is known as one of the fundamental forms which is used in metalworking and it can be cut and bent into the variety of shapes. There is quite intense competition among the major vendors. due to the rise in the automation and several operations on a single machine, there is a driving force for the market. Also factors like growth in the demand for the fabricated metal products there is an opportunity in the market. While some of the factors like rising use of plastic and the fiber and lack of skilled labor force is creating a hindrance in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
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. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Amada (Japan), TRUMPF (Germany), DMTG (China), DMG Mori (Japan), U.S. Industrial Machinery (United States), Allied Machine& Engineering (United States), Doosan Infracore (Korea) and GF Machining Solutions (Switzerland) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Sheet Metal Equipment market by Type (Swaging Machine, Bending Machine, Shearing Machine and Other), Application (Metal cutting, Metal forming and Metal welding) and Region.
On the basis of geography, the market of Sheet Metal Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Industrial will boost the Sheet Metal Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increased adoption of 3D printing, Robotic waterjets increasing efficiency, 6-axis CNC machine redefining machining operations and Design of new milling tools
Market Growth Drivers:
Rise in automation, Multiple operations on a single machine and Technology re-defining CNC machines
Challenges:
Setbacks in European machine tools manufacturing, Lack of precision and Safety issues with 5-axis machines
Restraints:
Increased use of plastic and fiber, A slowdown in the Chinese economy and Lack of skilled labor
Opportunities:
Growing demand for fabricated metal products and Increased demand from the automotive and aerospace sectors
Market Leaders and their expansionary development strategies
In January 2024, Approved Sheet Metal, a leading custom sheet metal fabrication company based in Hudson, New Hampshire, announced the acquisition of Technical Machine Components, a CNC machine shop located in Hudson, New Hampshire. The Acquisition will provide Approved Sheet Metal and its growing customer base with a dedicated facility that will focus on machining operations that are complementary to existing Approved Sheet Metal customer projects. Approved Sheet Metal has welcomed all employees from Technical Machine Components to its team, Approved Sheet Metal now employs 48 people across both facilities.
In March 2023, AlfaTKG, a pioneer in providing Smart Manufacturing and Digital Transformation (DX) solutions for Sheet Metal Manufacturing Industries announced the launch of 4 new products for metal manufacturing industries at IIT Madras Research Park. Toshio Takagi, CEO of alfaTKG officially launched the products at a glittering ceremony held at the alfaTKG Integrated Solutions India center in IIT Madras Research Park.
Key Target Audience
Sheet Metal Equipment Manufacturers, Component Suppliers/Distributors, End-user Industries, Government Agencies, Research Institutes, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.