The Latin America, Middle East and Africa Metal Fabrication Equipment Market would witness market growth of 12.35% CAGR during the forecast period (2021-2027).
There has been an evolution of metal fabrication equipment. Now, these advanced systems utilize technology to improve function and identify issues. The availability of automated welding, material handling, cutting, and positioning systems helps workers to carry out operations in a much efficient and harmless way along with decreasing the rate of human errors, completing hazardous tasks without getting hurt, and delivering integral support in various complicated processes.
Advanced metal fabrication equipment is developed to accelerate production of the companies along with reducing the total production time. Automated metal fabrication equipment helps in doing welding and cutting tasks quicker than workers while ensuring consistent quality. These machines enable workers to focus on complex tasks and hand over all the straight and monotonous tasks to the machines.
The manufacturing sector of Dubai has increased significantly in the last few years owing to the high availability of raw materials and minerals in the nation. According to the government of Dubai, the major factor contributing to the growth of the manufacturing sector of the country is the transformation of the manufacturing firms towards the adoption of the latest and advanced technologies and equipment. In addition, the UAE ministry of economy stated that UAE’s manufacturing industry registered USD 8.4 billion in 2018 and the manufacturing industry is shifting to sustainable manufacturing, which would lead to a production loop by 2050.
The Brazil market dominated the LAMEA Aerospace and Defense Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $432.9 Million by 2027. The South Africa market is anticipated to grow a CAGR of 13.2% during (2021 - 2027). Additionally, The UAE market would witness a CAGR of 12% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Metal Fabrication Equipment Market is Predict to reach $103.43 billion by 2027, at a CAGR of 9.62%
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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