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The Asia Pacific Metal Fabrication Equipment Market would witness market growth of 10.85% CAGR during the forecast period (2021-2027).
Metal fabrication equipment is a combination of various tools, wherein, each piece of the machine has a specific role in the whole manufacturing procedure. This equipment allows manufacturers to provide a wide selection of services and techniques to make sure that their final output has all the specifications that were mentioned in the development stage.
Furthermore, various companies are innovating the design and capabilities of the metal fabrication equipment in the market, which would help manufacturers in achieving their manufacturing goals. Also, many metal manufacturing firms are implementing metal fabrication equipment to match their ideal mass production and fulfill the constantly growing demand for the metal as raw material for various end-use industries.
Developing nations like India, China, and Japan in this region are witnessing a huge expansion in the industrial and manufacturing sectors. Japan is one of the biggest exporters of various goods across different industries. The government of Japan has been making strategies with the regional companies to support the private firms to build up better alliances and collaboration with other countries and companies. In addition, the government and companies of Japan are teaming up to better focus on sustainability under their science and technology strategic roadmap.
The China market dominated the Asia Pacific Welding Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2.73 billion by 2027. The India market is expected to witness a CAGR of 12.2% during (2021 - 2027). Additionally, The Japan market would exhibit a CAGR of 12.2% during (2021 - 2027).
Based on Type, the market is segmented into Cutting, Welding, Bending, Machining, and Other Types. Based on Application, the market is segmented into Job Shops, Automotive, Aerospace and Defense, Mechanical Components, and Other Applications. Based on countries, the market is segmented into China, India, Japan, Australia, South Korea, Singapore, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bystronic Laser AG, IPG Photonics Corporation, Colfax Corporation, TRUMPF GmbH + Co. KG, Amanda Holdings Co. Ltd., Jenoptik AG, Jet Edge International, OMAX Corporation (Hypertherm), and Messer Cutting Systems GmbH.
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