Market Trends of Global Special Purpose Machines Industry
This section covers the major market trends shaping the Special Purpose Machines Market according to our research experts:
Demand of Special Purpose Machines in Automobile Industry Driving the Market
The use of the Special Purpose Machines beside the automation has reduced the possibility of errors, has conjointly reduced the human fatigue in closing the repetitive operations over and over again. This conjointly ensures the standard and interchange ability of the components by carrying out the same designed processes each time with no shortcuts. The Special Purpose Machines and automatic machines are purposely designed to control unendingly for twenty-four hours each day with the least supervision.
In the United States, Japan, South Korea, Germany, and other European countries, the automotive industry plays a significant part in the overall manufacturing sector. The automobile industry is highly automated for mass production, with strict quality requirements and a high degree of cost sensitivity. The automotive industry has always been at the forefront of promoting automation in production processes - from the production line and robot-supported manufacturing to today's fourth industrial revolution.
The total global car market grew just 4 per cent in 2021 as it continued to struggle with Covid-19 restrictions and chip shortages, while EV sales represented 9 per cent of all passenger car sales in the year 2021. Nearly 85 per cent of EVs sold globally were delivered to customers in Mainland China and Europe. Demand for EVs continues to be strong in Europe. In fact, in many European countries EVs represented more than a quarter of new cars sold.
Growth in Fabrication Equipment:
Governments have been forced to enable the production of various healthcare equipment, beds, and other products with a limited labor workforce, which has fueled demand for metal fabrication equipment in the market. However, as the economy improves and governments remove limitations on manufacturing, demand for metal fabrication equipment is expected to increase in the future years.
Many manufacturers of metal fabrication equipment allow customers to customise their equipment to meet their specific needs. Varied companies have different needs, depending on the raw materials they utilise to make their end goods and the type of environment they work in. Many businesses deal with sensitive raw materials that must be handled with care; as a result, the machinery used to fabricate these commodities must likewise adapt.
Europe is the second-largest market for metal fabrication equipment. Industrialized countries, such as Germany, France, and Italy, are expected to fuel the demand further in near future.
