Report predicts growth in global metal fabrication equipment market

Dublin, Ireland-based Research and Markets has released the report, “Global Metal Fabrication Equipment Market 2016-2020,” which forecasts the market to grow at a CAGR of 6.57 percent from 2016 to 2020.

According to the report, introduction of 3-D metrology equipment will be a key driver for market growth. With customers becoming more demanding and as the global economic outlook faces new challenges constantly, metal fabricators must deal with the ever-increasing need for greater optical precision and measurement objectives. In the present era of additive manufacturing, 3-D metrology equipment like advanced laser scanners is being introduced into the market.

Further, the report states that the rise in input costs and material prices in the European Union will be a challenge for the market. The setbacks that plagued the European machine tools industry during the global economic recession of 2008 have been overcome in the past two years. The main factor that is affecting the sector in the post-crisis era is weak domestic demand, with the present growth mostly attributed to emerging markets that are outside Europe.

For more information, visit www.researchandmarkets.com/publication/mihqwqn/3832416.