Sheet Metal Processing Equipment Market to grow by USD 4.38 Billion from 2024-2028, driven by global industrial automation, with AI impacting market trends - Technavio

NEW YORK, Oct. 18, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The Global Sheet Metal Processing Equipment Market size is estimated to grow by USD 4.38 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 6.33% during the forecast period. Rising industrial automation globally is driving market growth, with a trend towards increasing focus of vendors on new product launches. However, fluctuations in prices of key raw materials poses a challenge - Key market players include Amada Co. Ltd., Bodor Laser, Bystronic Laser AG, Cincinnati Precision Machinery, Inc, Coherent Corp, Dallan SpA, DANOBAT GROUP S. Coop., Haas Automation Inc., Haco NV, Jier North America Inc., Komatsu India Pvt Ltd, LVD Co. Nv, Maanshan Durmapress Machinery Technology Co. Ltd, Mazak Optonics Corp., Mitsubishi Electric Corp., Murata Machinery Ltd., Nukon Bulgaria ltd., PRIMA POWER SEA CO LTD., Salvagnini Italia SPA, SCM GROUP Spa, TRUMPF SE Co. KG, and Wilson Tool International.

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Key Market Trends Fueling Growth

The sheet metal processing equipment market is witnessing a significant trend towards new product launches. Vendors are prioritizing innovation and competitive differentiation by developing and introducing advanced equipment. These new products feature automation, enhanced precision, and integration with Industry 4.0 technologies like IoT, AI, and big data analytics. For instance, TRUMPF's TruMatic 5000 manufacturing cell, launched in October 2023, offers fully automated laser-cutting, punching, and forming with a six-kilowatt fiber laser for high productivity and energy efficiency. Mazak Optonics' OPTIPLEX 3015 NEO, introduced in July 2023, boasts a large working area and advanced beam shaping technology for superior cutting results. Both companies demonstrate a commitment to connected manufacturing and smart factory integration. This focus on new product launches will continue driving the growth of the global sheet metal processing equipment market. 

The Sheet Metal Processing Equipment market is experiencing significant growth due to increasing trends in various industries. Welding equipment remains a key player, with applications in defense, space, and aerospace sectors. Lightweight and precision components are in demand for automotive, construction, and electronics industries. Metal cutting technology and bending technology continue to advance with plasma and 3D printing leading the way. Industrial automation through robots and remote-controlled machines enhances precision metal work. Machine networks, machine learning, and IoT enable improved efficiency and productivity. Metal reinforcements are essential for infrastructure projects like skyscrapers, railway bridges, and residential units. Cutting and bending equipment must offer high-strength components, automation capabilities, and CNC precision. The market also caters to niche applications like roofing, industrial shades, ductwork, rain gutters, thermal conductivity, armored vehicles, tanks, and aviation industries. 

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Market Challenges

• The sheet metal processing industry faces significant challenges due to the volatility of raw material prices, primarily steel and aluminum. Factors such as supply chain disruptions, geopolitical tensions, and fluctuating demand from industries like automotive, construction, and aerospace impact these prices. For instance, the World Bank predicts a 2% rise in aluminum prices in 2024 and a further 4% increase in 2025. Higher raw material costs increase production expenses for manufacturers, potentially leading to reduced profit margins and increased equipment prices for customers. In a competitive market, this may decrease demand or push customers towards lower-cost alternatives. Moreover, rising material costs can limit smaller companies' ability to invest in advanced technologies, hindering their competitiveness. Thus, the sheet metal processing equipment market's growth will be significantly influenced by the price fluctuations of essential raw materials.
• The Sheet Metal Processing Equipment market faces several challenges in various industries. In automotive OEMs, manufacturing precision is crucial for vehicle design. Advanced machinery like punch cutting equipment, forming equipment, and joining equipment are essential. However, aging machinery and the need for automation pose challenges. Robotics and IIoT are key solutions. In consumer electronics, thin sheets of materials like aluminum, brass, silver, stainless steel, carbon steel, and high strength alloys require cutting and bending. Laser cutting and waterjet technologies are popular. In contrast, automation is vital for industries like energy generation, where wind turbines, solar panels, batteries, and metal products are fabricated using CNC cutters, plate rolls, drilling, polishing, stamping, and hand-held plasma torches. The market must adapt to meet the demands of electric vehicles (EVs) and mechanical applications.

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Segment Overview 

This sheet metal processing equipment market report extensively covers market segmentation by

1. Application 
• 1.1 Metal cutting
• 1.2 Metal forming
• 1.3 Metal welding
2. End-user 
• 2.1 Automotive
• 2.2 Construction
• 2.3 Aerospace
• 2.4 Electronics
• 2.5 Others
3. Geography 
• 3.1 APAC
• 3.2 Europe
• 3.3 North America
• 3.4 Middle East and Africa
• 3.5 South America

1.1 Metal cutting- The Sheet Metal Processing Equipment Market refers to the industry that produces and supplies machinery used for shaping, cutting, and forming sheet metal. Key players in this market include companies like Amada, Trumpf, and Esab. Demand for this equipment is driven by industries such as automotive, construction, and HVAC. Technological advancements, like automation and robotics, are enhancing productivity and efficiency. Market growth is expected due to increasing industrialization and urbanization worldwide.

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Research Analysis

The Sheet Metal Processing Equipment market encompasses a range of technologies and applications, primarily focused on the manufacturing industry. Key industries served include Construction, Aerospace, and Electronics, among others. Precision cutting is a critical function, with CNC (Computer Numerical Control) systems and automation capabilities driving efficiency and consistency. IoT and AI are increasingly integrated into these systems, enabling real-time monitoring and predictive maintenance. Metal-cutting machinery includes laser cutting and waterjet technologies, which excel in processing thin sheets of various materials such as aluminum, brass, silver, stainless steel, and carbon steel. Applications span from vehicle design and architectural designs to sheet metal fabrication and the production of metal products. However, aging machinery and the need for continuous innovation pose challenges to market growth.

Market Research Overview

The sheet metal processing equipment market encompasses a wide range of technologies and applications, serving industries such as Construction, Aerospace, Electronics, and Automotive OEMs. Precision cutting is a key aspect of this market, with advanced machinery like CNC (Computer Numerical Control) machines, IoT (Internet of Things), and AI (Artificial Intelligence) integration enabling automation capabilities. Lightweight and high-strength components are in high demand, driving the use of cutting equipment like laser cutting and waterjet technologies. The market also caters to various industries, including automotive, renewable energy, defense, and consumer electronics. Materials processed include aluminum, brass, silver, stainless steel, carbon steel, and high-strength alloys. Applications span from vehicle design and architectural designs to mechanical applications, electric vehicles (EVs), energy generation, and metal products manufacturing. Precision bending, punch cutting, forming, joining, and polishing equipment are also crucial in this market. The aging machinery in job shops is being replaced with advanced machinery like plate rolls, drilling machines, and hand-held plasma torches. The market is also witnessing the integration of IIoT, machine networks, machine learning, and robotics for increased efficiency and productivity. Additionally, 3D printing, plasma, and bending technology are gaining popularity in precision metal work. Industrial automation, remote-controlled machines, and machine learning are also key trends in the market. The market also caters to various industries, including automotive, renewable energy, defense, and consumer electronics. Metal reinforcements are used in various applications such as skyscrapers, railway bridges, residential units, and roofing. The market is expected to grow significantly due to the increasing demand for precision metal work and advanced machinery in various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Metal Cutting
• Metal Forming
• Metal Welding
• End-user
• Automotive
• Construction
• Aerospace
• Electronics
• Others
• Geography
• APAC
• Europe
• North America
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio