The report “India Metal Fabrication Equipment Market, By Equipment (Machining, Cutting, Forming, Welding, and Others), By End-User (Oil & Gas, Automotive & Aviation, Power Plants, Chemicals & Mining, Construction, and Others) – Trends, Analysis and Forecast till 2030.
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- In January 2019, the Department of Atomic Energy (DAE) announced that 21 new nuclear power reactors, with a total installed capacity of 15,700 megawatt (MW(, are expected to be set up in the country, by 2031.
- In April 2019, the Modular Fabrication business of L&T Hydrocarbon Engineering, the wholly-owned subsidiary of Larsen & Toubro, was awarded a contract for process (PAU) and pipe rack (PAR) modules for a process plant, which includes fabrication, procurement, precommissioning, and load-out of the modules. The company has modular fabrication facilities located in Gujarat and Chennai, in India.
Rapid growth in the metal and manufacturing industry in India is the major factor driving growth of the metal fabrication equipment market. Additionally, rising demand for aluminum and increasing growth in automobiles and aviation market are factors propelling the India metal fabrication equipment market growth. In India, metal fabrication has a huge market, as the India is moving toward industrialization, urbanization due to increasing population. Thus, metal fabrication equipment market is projected to grow at a remarkable rate over the forecast period. Further, automotive market in India is one of the largest in the world. Introduction of advanced versions of electric vehicle by 2022 speed up the growth of automotive industry. Automobile market estimates for 7.1 % of the country’s gross domestic equipment (GDP). In July 2019, the Singapore-headquartered electronics manufacturing and business services provider Flex Introduced a new manufacturing facility in Chennai, taking the total number of manufacturing facilities of the company in India to four. Nevertheless, government is taking lots of initiatives & putting effort to moderate the stringent rules and push for more production of electric vehicle. This initiative has boosted the automotive industry thereby accelerating the metal fabrication equipment market.
|North America||U.S. & Canada|
|Europe||U.K., Germany, France, Italy, Spain, Hungary, BENELUX, NORDIC, Rest of Europe|
|Asia-Pacific||China, India, Japan, South Korea
Australia, New Zealand, Rest of Asia-Pacific
|Latin America||Brazil, Mexico, Argentina, Rest of Latin America|
|Middle East and Africa||Israel, GCC, South Africa, Rest of Middle East and Africa|
Key Market Insights from the report:
The India metal fabrication equipment market accounted for US$ 29.3 billion in 2020 and is projected to register a moderate CAGR over the forecast period. The market report has been segmented on the basis of equipment and end-user.
- By equipment, robotic laser welding is driving in the India metal fabrication equipment market. Most of the metal product of industry are manufactured using welding processes. Thus, the demand for welding equipment is growing to carry out welding process in the numerous industries.
- By end-user, the oil and gas industry plays a major role in influencing decision-making for all the other important sections of the economy and is among the eight core industries in India. Natural gas infrastructure is projected to be an area of opportunity for investments in the near future.
The prominent player operating in the India metal fabrication equipment market includes Salasar Techno Engineering Ltd., Godrej Process Equipment, Kirby Building Systems, Karamtara Engineering Pvt Ltd., Pennar Group, Zamil Industrial Investment Co, ISGEC Heavy Engineering Ltd., TEMA India, Larsen & Toubro Ltd., and Diamond Group.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and sales performance of various companies
- Detailed analysis of this market revenue in previous & next coming years
- Examining various outlooks of the market with the help of Porter’s five forces analysis.
- Study on the product type that is anticipated to dominate the market.
- Study on the regions that are expected to register the fastest growth over the forecast period.
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