Metal Fabrication Equipment Market Size

Q: What is the key market trend for Metal Fabrication Equipment Market?

Increasing Focus on the Implementation of Industry 4.0: The growth of Industry 4.0, or the Internet of Things (IoT), which is a key trend, is expected to have a profound influence on tooling and fabricating equipment, as it relates to the flow of information to machine tools and engineers/operators. Smart tooling is expected to provide real-time feedback about problems, such as vibration, and send alerts to the engineer. The transition to Industry 4.0 starts with machining environments that are highly consistent in day-to-day operations.

Metal Fabrication Equipment Market Insights

Metal Fabrication Equipment Market size was valued at USD 72.13 billion in 2023 and is poised to grow from USD 75.81 billion in 2024 to USD 112.86 billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

The global metal fabrication equipment industry is experiencing significant transformation driven by robust metal manufacturing sector growth and infrastructure development initiatives. The growth of the market is particularly evident in critical sectors such as automotive, power generation, and construction, where demand for precision-engineered components and structures continues to rise.

The growth in the metal and manufacturing industry is a significant driver for the global metal fabrication equipment market. As these industries expand, the demand for metal fabrication equipment increases due to the essential role these machines play in production processes.

Mounting demand is a direct result of shifting trends in the finance and manufacturing sectors across the globe. The rising population in the Asia Pacific and huge markets for different industry verticals compelled companies to move their manufacturing operations to these developing economies.

Manufacturing companies are the largest consumers of fabrication equipment closely followed by the automotive industry and its auxiliary sectors. The demand & supply for major industries in the metal fabrication market such as aerospace & defense is expected to gain traction over the forecast period.

The rising global population is driving consumption and demand for energy. Rapid industrialization is anticipated to drive the demand for fabrication equipment. However, the high cost of raw materials is expected to be a major restraint for market growth. Nevertheless, technological advancements and efforts to develop customized equipment are anticipated to create business avenues for the manufacturers in the near future.

Rapid growth in the metal and manufacturing industry, growing demand for aluminium and increasing growth in aviation and automobiles market are factors driving the metal fabrication equipment market. Metal fabrication has a huge market in India, however, lack of skilled workforce, the growth of 3D printers, and issues with raw material availability are restraining the market growth. Metal fabrication equipment market is expected to grow at a remarkable rate, as the India is moving toward industrialization, urbanization owing to the growing population.

Market Key Attributes

October 2023: JSP’s Angul unit, located in Odisha, was set to become India’s biggest single-location steel manufacturing plant. The capacity of the current Angul plant is estimated to be 5.6 mtpa per annum. However, the plan was to double it to 11 mtpa and 24 mtpa by 2023 and 2027, respectively. JSP’s steel plant, located in Raghurhat, was also expected to expand its capacity from 3.6 tpa per annum to 9 tpa by 2023. JSP finalized trial production at Angul in 2023 and commercial production by 2024. Jindal Steel and Power expects the Indian steel industry to grow in line with government infrastructure projects and domestic demand.

July 2023: ArcelorMittal Nippon Steel India (AM/ NS India) a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - and Festo India, the world's leading manufacturer and supplier of automation technology and specialized education, announced signing an MoU at the Festo Corporate Center in Stuttgart, Germany. The cooperation will concentrate on the development of the New Age Makers Institute of Technology (NAMTECH), an ArcelorMittal Nippon Steel India education initiative aimed at delivering an integrated model of high-quality engineering and specialized education, with special emphasis on manufacturing and sustainability. NAMTECH started operating an interim campus in the Research Park at IIT Gandhinagar, Gujarat, in August 2023.

FAQs

Global Metal Fabrication Equipment Market size was valued at USD 92.13 billion in 2023 and is poised to grow from USD 96.83 billion in 2024 to USD 144.15 billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

The global metal fabrication equipment industry is highly competitive, driven by technological advancements, automation, and the growing demand for precision manufacturing across industries such as automotive, aerospace, construction, and industrial machinery. Leading players like Amada Co., Ltd., Trumpf Group, Mitsubishi Electric, Bystronic, and Lincoln Electric are investing in smart manufacturing solutions, CNC automation, and AI-driven fabrication technologies to enhance efficiency and productivity. 'O'Neal Manufacturing Services (U.S.)', 'Interplex Holdings Pte. Ltd. (Singapore)', 'Komaspec (China)', 'LancerFab Tech Pvt. Ltd. (India)', 'BTD Manufacturing (U.S.)', 'Kapco Metal Stamping (U.S.)', 'Watson Engineering, Inc. (U.S.)', 'Matcor-Matsu Group (Canada)', 'STANDARD IRON and WIRE WORKS, INC. (U.S.)', 'PA International (Belgium)', 'Mayville Engineering Company, Inc. (U.S.)', 'Aleris Corporation (U.S.)', 'Mazak Corporation (Japan)', 'TRUMPF (Germany)', 'DMG MORI (Germany)', 'weMFG. (U.S.)', 'R5 Metal Fabricators, Inc. (U.S.)', 'N.W. Metal Fabricators, Inc., (U.S.)', 'M & W Shops (US) '

Die casting is expected to increase the adoption of metal fabrication in various industrial projects because it requires less machining and other finishing operations than the sand casting. Die casting has better dimensional tolerances and greater production efficiency. Die casting reshapes the molten metal in a die instead of mold.

Increasing Focus on the Implementation of Industry 4.0: The growth of Industry 4.0, or the Internet of Things (IoT), which is a key trend, is expected to have a profound influence on tooling and fabricating equipment, as it relates to the flow of information to machine tools and engineers/operators. Smart tooling is expected to provide real-time feedback about problems, such as vibration, and send alerts to the engineer. The transition to Industry 4.0 starts with machining environments that are highly consistent in day-to-day operations.

North America dominated the market and holds a significant share in the metal fabrication equipment market, driven by strong industrialization, technological advancements, and high demand from automotive, aerospace, and construction sectors. The United States dominates the regional market, with extensive investments in automated fabrication technologies, robotics, and CNC machinery. The presence of leading manufacturers and a well-established supply chain further supports market growth.