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2022

Custom Manufacturing Market by Order Type (Built-to-order Products, Custom Products and others), Product Type (Industrial and Non-industrial), and End-user Industry (Pharmaceuticals, Chemicals, Automotive, Aerospace, Construction, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

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COVID-19

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The global custom manufacturing market is experiencing significant growth and is expected to grow considerably in the next few years. Custom manufacturing is a type of manufacturing service in which the service providers work in close coordination with customers to manufacture customized products as specified by them. These customized products are typically built-to-order types or completely custom products. A built-to-order type product is already designed by the custom manufacturing service provider and is ready to be produced or manufactured on demand. Custom products, on the other hand, entail designing and developing the product from the ground up, as well as manufacturing it. Generally, the products that are customized include both industrial and non-industrial products. Further, industries which require customized manufacturing services are pharmaceuticals, chemicals, automotives, aerospace, construction and other industries. Furthermore, businesses in custom manufacturing provide manufacturing services along with services such as product development and consultancy to widen their market scope. Moreover, custom manufacturing has been in demand in recent years, and major players in the custom manufacturing industry have adopted advanced technology to increase the quality of their products to sustain the competition in the custom manufacturing market.

Market Scope and Structure Analysis

Description

Custom manufacturing is the ability to design, engineer, and manufacture unique products that are made to fit specific functions. These products are produced in smaller quantities and are generally made-to-order products. This process includes the use of machinery but not as much as the mass-produced products, and it is often slow and partially automated. In addition, it relies heavily on manual labor for fabricating, inspecting, testing, and delivering the products to the customer. 

Report Metric

Details

Market Size Available for Years

 2020–2030

 Base Year Considered

  2020

 Forecast Period

 2021–2030

  Forecast Unit

  Value (USD)

  Segments Covered

  Order Type, Product Type, End-user Industry, and Region

  Companies Covered

 

Custom Manufacturing & Engineering Inc., Monroe Engineering Products, Custom Manufacturing Corporation, Custom Mfg. Corp., DB Custom Manufacturing, Micro-Mechanics, MetalTek, Con-Tech International, DM&E, Promega Corporation, Thomas Swan, and AVEFLOR.

 

COVID-19 Impact Analysis

  • The COVID-19 pandemic ceased the production of various products in the custom manufacturing industry, which is attributed to the global lockdown. This has hampered the growth of custom manufacturing market in the years 2020 and 2021, and a similar trend is expected to be seen in the first half of 2022.
  • The major demand for custom manufacturing was previously noticed from giant developed and developing countries, including the U.S., Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for custom manufacturing.
  • Further, the long-term impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Custom manufacturing manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
  • Custom manufacturing manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce. 

Top Impacting Factors

The boost in industrialization owing to increase in disposable income of the public in general has increased the demand in the manufacturing sector as well as the custom manufacturing market. Places such as colleges, small firms, and other small and new businesses require customized products such as desks, chairs, uniforms, and stationery. Furthermore, increase in the number of these institutes and businesses is expected to boost demand in the customized manufacturing market. It is often very difficult for a small or new business to set up a production unit due to its being capital-intensive. Hence, they prefer to go for custom manufacturing. This factor is anticipated to increase demand in the custom manufacturing market. However, the expensive nature of custom manufacturing services is one of the restraining factors, hindering the growth of the custom manufacturing market. Contrarily, technological developments in custom manufacturing, such as advancements in lath machines, casting, and artificial intelligence (AI) is expected to not only boost the quality of the manufactured product but also result in lowering the cost per unit of manufactured product. This is anticipated to create lucrative opportunities for the growth of the custom manufacturing market during the forecast period.

Market Trends

  • New products that contain improved capabilities are launched by leading market players. They take the necessary steps to improve overall functionality. For instance, in January 2020, Custom Manufacturing & Engineering, an electronics/electrical manufacturing and engineering facility, unveiled its new Push Button Panel. The new product conforms to UL508A standards. The product launch enhanced the product offerings of the company to sustain the competition in the custom manufacturing market.
  • Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for custom manufacturing products. For instance, in April 2021, Promega Biotech Company, which is involved in custom manufacturing of biotech products along with mass production of a few products, opened the Kornberg Center for research and development on its Fitchburg, WI campus in the US. This facility will support core product and technology development in life science research, cellular and molecular biology, genetic identity, clinical diagnostics, and other research.

Key Benefits of the Report

  • This study presents the analytical depiction of the custom manufacturing industry along with the current trends and future estimations to determine the future investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities, along with detailed analysis of the custom manufacturing market share.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the custom manufacturing market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed custom manufacturing market analysis based on competitive intensity and how the competition will take shape in coming years.

Key Market Segments

Segments Sub-segments
Order Type
  • Built-To-Order Products
  • Custom Products
  • Others
Product Type
  • Industrial
  • Non-Industrial
Business Type
  • Manufacturer
  • Services
End-user Industry
  • Pharmaceuticals
  • Chemicals
  • Automotive
  • Aerospace
  • Construction
  • Others
Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 
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