Report Code: A07726 | Nov 2023 | Pages: NA | ||
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Request Now !Sheet metal processing equipment are used to perform various operations on sheet metal like cutting, forming, and welding. Sheet metal is the metal that is turned into thin and flat pieces by an industrial process. The thickness of the sheet metal can vary with the application; for example, ultrathin sheet metals are referred to as foils, and sheet metals with thickness greater than 6mm are referred to as plate steel. The metals that can be shaped into sheet metals are copper, aluminum, brass, steel, tin, nickel, and titanium. Sheet metal processing equipment are majorly used in aerospace and automotive industries. Majority of the cars that are produced in large scale are made using sheet metals. Sheet metals have a wide range of applications in manufacturing aircraft parts due to their high strength with light weight factor.Â
The growing demand for sheet metal from industries like aerospace and automotive resulted in the development of the global sheet metal fabrication industry. This in turn, can potentially drive the sheet metal processing market in the upcoming years. Moreover, growth in commercial aviation and defense aircraft is expected to steer the sheet metal processing equipment market in the near future. Also, the rising need for sheet metal fabrication in end-use industries like aerospace, automotive, manufacturing, and more can propel the market growth. However, the shortage of skilled labor and expensive labor are the restraining factors that can hamper the growth of the sheet metal processing equipment market. Furthermore, emerging new advanced technologies can provide lucrative growth opportunities for the sheet metal processing equipment market during the forecast period.Â
The emerging technological advancements in the field of automation have enhanced the efficiency and effectiveness of sheet metal processing equipment. For instance, a new technology that is trending in the sheet metal industry lately is the Tube Laser technology. This technology is growing at a fast pace, reasons being it provides various advantages over the traditional sheet metal process. For example, tube laser equipment can produce intricate and sharp cuts, which improves the fabrication speed and quality. Further, this technology effectively helps in reducing assembly costs and material wastage. Such new advanced technologies can boost the demand for sheet metal fabrication equipment from various end-use industries that can eventually result in the positive growth of the sheet metal processing equipment market.
The sheet metal processing equipment has a wide range of applications in the automotive industry. The sheet metal processing equipment can be used to manufacture parts like body frame, chassis, and others for automobiles. According to statistics provided by the International Organization of Motor Vehicles Manufacturers, countries like China and Japan were the largest producers of automobiles in 2018. Exact figures show that China, the largest producer of automobiles in the world manufactured 23,529,423 vehicles, whereas Japan, being the second-largest producer of automobiles in the world manufactured 8,358,220 vehicles. Large vehicle production in the countries of Asia can ensure a promising positive growth in the upcoming years also, thus providing lucrative growth opportunities for the sheet metal processing equipment market during the forecast period.
Key benefits of the report:
Sheet Metal Processing Equipment Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | DMG Mori, Fanuc, U.S. industrial machinery, Amada Holdings, DMTG, Allied machine and Engineering, Doosan Infracore, Fair Friend Group, TRUMPF, GF Machining Solutions |
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