The global sheet metal processing equipment market research report by Technavio predicts the market to post a CAGR of close to 7% during the period 2018-2022.
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Technavio predicts the global sheet metal processing equipment market to post a CAGR of close to 7% by 2022. (Graphic: Business Wire)
A key driver for the global sheet metal processing equipment market is the increased demand from automotive and aerospace sectors. Sheet metal forming plays a dominant part in the automotive industry despite the advent of carbon fiber. Most high-volume production cars are made from sheet metal that makes metals the main materials used in the automotive industry. The aircraft manufacturing industries use specialized, high-strength, lightweight alloys for manufacturing aircraft parts and bodies. To cut these parts with extreme precision, sheet metal processing equipment such as laser cutting machines are deployed in these industries.
This global sheet metal processing equipment marketresearchreportalso provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the emergence of friction-stir welding technology as one of the key trends in the global sheet metal processing equipment market:
Global sheet metal processing equipment market: Emergence of friction-stir welding technology
The friction-stir welding technology imparts high-integrity to the final product and makes it defect-free. The mechanical distortions are excluded as the entire operation takes place under a low operating temperature. The friction stir welding process helps in overcoming the possible limitations that other welding procedures encounter.
"The friction-stir welding technology has found significant prominence in the aerospace sector and it is slowly gaining traction in the automotive sector. The advantages such as inherent mechanical properties and low operating cost make it ideal for automotive applications. One of the most notable advantages of this welding process is that it can work with dissimilar metals. The process permits the welding of various aluminum alloys as well as aluminum and steel," says a senior research analyst at Technavio.
Global sheet metal processing equipment market: Segmentation analysis
This sheet metal processing equipment market analysis report segments the market by application (metal cutting, metal forming, and metal welding) and geography (the Americas, APAC, and EMEA).
The metal cutting segment held the largest sheet metal processing equipment market share in 2017, accounting for more than 66% of the market. This application segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2017 with more than 52% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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