North America Sheet Metal Fabrication Equipment Market Size, Share & Trends Analysis Report by Type (Cutting, Shearing), Application (Job Shops, Automotive), Region, and Segment Forecasts, 2024-2030

The North America sheet metal fabrication equipment market is anticipated to reach USD 11.9 billion by 2030. The market is projected to grow at a CAGR of 6.4% from 2024 to 2030. The market is expected to rise due to technological advancements and expanding end-use sectors including aerospace, construction, and automotive. The market growth for sheet metal fabrication equipment is anticipated to be driven by ongoing developments in metal-cutting machines as well as innovations in laser cutting and waterjet technologies by key players.

Moreover, the continuous improvements in vehicle design and introduction of new advanced material in automotive sector are vital in driving demand for the product. The automobile industry uses sheet metal fabrication equipment extensively for the production of vehicle parts and components. Over the course of the forecast period, the aforementioned reasons are expected to propel the sheet metal fabricating equipment market in North America.

North America's population growth, urbanization, infrastructure development, and demand for carbon-efficient transport system are some of the contributing factors to the automobile industry's expansion. Due to this increase, the demand for different metal building components has been steadily increasing. Furthermore, complex architectural concepts found in many contemporary building projects necessitate the use of specially produced sheet metal roofing materials and decorative panels. The demand for modern sheet metal fabrication machinery, which can develop such parts with precision is expected to surge over the forecast period.

Furthermore, because of their capacity to precisely create sheet metal components, automation, and mass customization in a variety of applications, the demand for advanced mechanized sheet metal cutting machines is on the rise. There is also a necessity to replace aged technology, with new automation-based technology. Due to these factors, the demand for technologically advanced sheet metal cutting machines is expected to increase It is anticipated that industries will keep up this trend as they work to enhance their manufacturing procedures and satisfy changing consumer needs.

The sheet metal fabrication equipment market in North America is crowded and fiercely competitive, with many companies possessing advanced product design and development skills. In addition, new products are being introduced by the major players to meet the demands of the end-use industries. To maintain their market position and expand their market share, the companies operating in the North America market are putting a lot of effort into investing in research and development initiatives.

North America Sheet Metal Fabrication Equipment Market Report Highlights

• In terms of type, the others segment consists of plate rolls, drilling, polishing, and stamping, which held the largest revenue share of 20.9 % in 2023. This segment is commonly used to manufacture sheet metal components used in metalworking, construction, manufacturing, and other industries
• The cutting segment is anticipated to witness the fastest CAGR of 8% over the forecast period, as cutting is the most fundamental process which involves the use of hand-held plasma torches and Computer Numerical Control (CNC) cutters to manufacture the required dimensional sheet metal parts
• Based on application, the job shops segment held the largest revenue share of 31.4% in 2023, as job shops are used to manufacture the sheet metal components as per the customers’ requirements (Made-to-order basis- MTO). They require machines that can adjust as per their requirements and specifications
• The mechanical application segment is anticipated to witness the fastest CAGR of 7.5% over the forecast period. This segment is crucial for manufacturing a wide range of components and products such as electric vehicles (EVs) and autonomous systems drives
• Based on country, the U.S. held the largest revenue share of 75.2% in 2023, due to increasing government efforts for the development of public infrastructures in the U.S., growing automobile production, and rising defiance expenditure
• Mexico is anticipated to witness the fastest CAGR of 7.6% over the forecast period, owing to its ability to manufacture and export major and critical components used in the manufacturing of automobiles
• In September 2023, AMADA CO., LTD. launched next-generation large press brakes in its HRB series. This new machine is designed to handle long workpieces and materials from thick sheet metal to thin sheet metal. To improve the system's effectiveness this new product is equipped with an AC servo motor and a two-way piston pump