LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Metal Fabrication Equipment Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the heavy industry. This report breaks down the data and analysis behind the procurement of metal fabrication equipment and acts as an all-inclusive guide for making smart purchasing decisions.
“Besides the increasing demand for metal fabrication equipment from various end-user industries, the need for implementation of Industry 4.0 and automation software is the current demand factor providing market growth opportunities,” says SpendEdge procurement analyst Bhuvaneshwari Udayakumar. “The need for light-weight and fuel-efficient automobiles, along with reshoring initiatives taken by several vehicle manufacturers, is fueling the demand from the automotive sector,” added Bhuvaneshwari.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Metal Fabrication Equipment Market:
- The increase in implementation of Industry 4.0
- The advent of additive manufacturing or 3D printing
- Adoption of robots for manufacturing operations by suppliers
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The increase in implementation of Industry 4.0:
In the manufacturing industry, Industry 4.0 is the concept of automation and data exchange. The concept incorporates computer-based algorithms that monitor and control the manufacturing processes. It also uses industrial control systems and robotics to automate manufacturing processes and collect data for monitoring and process control procedures. Moreover, the use of computer-assisted data capture and transmission technologies help in enhancing the information flow, which in turn helps in supply chain planning and management. Also, the use of robotics in the manufacturing processes enables automation of tasks.
The advent of additive manufacturing or 3D printing:
Additive manufacturing or 3D printing is currently used for prototyping but is undergoing massive development to enable industrial-scale implementation. It is a novel technology that is expected to gain momentum for large-scale production of metal components over the forecast period. Moreover, the use of such techniques plays a significant role in reducing wastage and also offer other benefits such as more flexibility in manufacturing intricate shapes and designs.
Adoption of robots for manufacturing operations by suppliers:
There is an increase in automation of manufacturing processes by employing robots to do the tasks which would otherwise require human force. Also, new concepts such as lights-out manufacturing are leading to the development of robotics-enabled machining systems that reduce cycle time and errors along with near complete elimination of human labor required. By employing robots, the buyers can also achieve reduced cycle times and error rates.
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