Market Trends of Benelux Metal Fabrication Equipment Industry
This section covers the major market trends shaping the Benelux Metal Fabrication Equipment Market according to our research experts:
Manufacturing sector promises a greater boom in the region for the metal fabrication equipment market
The manufacturing sector accounts for nearly one-sixth of Belgium’s GDP. Manufacturing is an essential economic activity in the provinces of East Flanders, Limburg, and Hainaut. The corridor between Antwerp and Brussels also has emerged as a significant manufacturing zone, eclipsing the older industrial concentration in the Sambre-Meuse valley. Metallurgy, steel, textiles, chemicals, glass, paper, and food processing are the dominant industries. Belgium is one of the world’s leading processors of cobalt, radium, copper, zinc, and lead. Refineries, located principally in the Antwerp area, process crude petroleum. Antwerp is also known for diamond cutting and dealing. The Netherlands holds a strong position as a European manufacturing location for the North American companies. More than 450 North American companies have found a home in the Netherlands for manufacturing or assembly operations. It is also expected to grow in the coming future. Luxembourg is an all-around innovative engineering and technology base for the non-ferrous products sector and the glass and cement industries. Many companies that specialize in the materials have set up major production plants and highly sophisticated R&D centers in Luxembourg. International companies such as Avery Dennison, Euro-Composites, Guardian Glass, DuPont de Nemours, and many more propose a range of innovative and custom-made products and services to customers worldwide. Plastics mainly, the chemical industry, have been the thriving pillars of Luxembourg’s industrial sector. Due to fierce global competition, these industries are compelled to a constant process of innovation and productivity gains. Luxembourg’s business environment with highly qualified workers and the broad financial incentive encourages companies to persevere in their quest for competitiveness across the world.
Metal forming machinery growing faster compared to other equipment
Belgian economy has grown significantly with significant infusions of foreign investments in recent years. Numerous industries, such as that of consumer electronics, automotive, and aerospace, are highly demanding fabricated metals. Metal fabrication possesses a wide range of applications. Right from office supplies, such as paper clips, to airplane parts, their usage is increasing day by day. It is one of the most vital factors fueling the metal forming machinery market growth. The rising demand from the general machinery segment is one of the key factors anticipated to strengthen the machine tools market in the Netherlands. The country’s favorable geographic location and the adequate logistical support for exports to several European economies have further encouraged several international machine builders to establish their manufacturing operations in the Netherlands, boosting the market growth. Also, an essential factor driving the growth of the machinery market in the Netherlands is the growing demand for CNC-incorporated equipment.
