Market Size of Europe Metal Fabrication Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Metal Fabrication Equipment Market Analysis
The Europe Metal Fabrication Equipment market is expected to register a CAGR of 4.0% during the forecast period.
- Throughout the forecast period, it is anticipated that factors such as the expanding metal and manufacturing industries, expanding automotive and aerospace sectors, and rising R&D expenditures would drive the European market for metal fabrication equipment. Europe's industrial metal fabrication industry is also growing because governments all over the region are putting in place policies that help the industry.
- The most important technological advancements in the metal fabrication equipment sector in Europe are Industry 4.0, including data analytics, the internet of things, additive manufacturing, and AR (augmented reality). AR can be used in training, quality assurance, design and prototyping, maintenance, operations, and safety management. For instance, by visualizing and streamlining assembly, machine tool change, and step-by-step installation processes, augmented reality (AR) can improve manufacturing operation procedures.
Due to COVID-19's operational challenges and poor demand, Europe's metal fabrication equipment sector took a considerable hit. A delayed return to pre-pandemic production levels was anticipated during the projected period. The study predicted a significant decline in domestic metal demand, which would not happen until at least 2023-2024 after the pandemic.
