The Business Research Company’s Metal Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 17, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
Automated manufacturing systems are gaining popularity as they enhance manufacturing productivity and reduce operating costs in the metal industry. An automation system refers to a machine, tool or technology such as robotic and AI technology that helps to reduce human intervention and improve safety in the metal manufacturing processes such as processing, assembling, material handling. This metal market trend allows metal manufacturing companies to increase efficiency and production, improve safety on the manufacturing floor, enhance product quality, perform complex and varied tasks, enhance process stability, provide flexibility to produce products and eliminate routine manual tasks. According to a KPMG report, 63% of the executives say they are considering investing in automation. In 2018, according to an article in Production Machining, an online magazine, 56% of global companies consider automation in manufacturing processes and observed 30% of increase in their production. According to global robotics report 2016 by International Federation of Robotics (IFR), a robotic company, global industrial robots deployed in manufacturing processes are expected to increase to 2.6 million units by 2019.
The global metal market size is expected to grow from $3.32 trillion in 2020 to $3.54 trillion in 2021 at a compound annual growth rate (CAGR) of 6.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. Metal market analysis shows that the market is expected to reach $4.61 trillion in 2025 at a CAGR of 7%.
Here Is A List Of Similar Reports By The Business Research Company:
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