Custom Assembly Equipment Market Outlook
The custom assembly equipment market is expected to witness category spend growth of more than USD 1 billion between 2018-2023, with spend momentum accelerating at a CAGR of 5.76% during the forecast period. Increasing demand for personalized products from consumers and their willingness to pay premium prices for those products is driving large-scale procurement of custom assembly equipment. Such a growing demand is prompting manufacturers to adopt technologies such as automation at their production facilities. Automation helps boost productivity and accuracy for repeatable tasks, minimize production cost, and improve floor space utilization. A rapid rate of adoption of automation will drive the requirement for customized machinery such as assembly equipment. This will offer a significant boost to spend growth in the custom assembly equipment market.
Factors such as low-cost labor, easy availability of raw materials, and the swelling middle-class demography are rendering APAC as one of the major hubs of manufacturing white goods. Currently, the white goods manufacturing industry is accounting for the highest demand for custom assembly equipment. This makes APAC as one of the leading regions contributing to the spend growth in the custom assembly equipment market. In the US, the automobile manufacturing industry is set to account for an exponential demand for custom assembly equipment. This demand will be driven by the establishment of newer manufacturing facilities by the automobile industries.
Insights Offered in this Custom Assembly Equipment Market Report
Our reports from the heavy industry category offer buyers with actionable data on the current and future supply market scenario. Coverage of the custom assembly equipment market price outlook in the US, including category spend analysis, supplier cost structure, etc., is also offered in this report. Additional information includes an analysis of the cost and volume drivers, top custom assembly equipment producers, and category management strategies.
Our portfolio of reports helps buyers understand:
- Global and regional spend potential for the custom assembly equipment market for the period of 2018-2023
- Top custom assembly equipment manufacturers and their cost structure
- Custom assembly equipment market outlook in the US
- Custom assembly equipment market price, trends, and forecasts
- Cost drivers influencing the custom assembly equipment market price
Custom Assembly Equipment Market Trends: Pricing Outlook
This procurement intelligence report contains in-depth pricing insights for the procurement of custom assembly equipment. These custom assembly equipment market price insights provide an overview and comparison of pricing models, supply chain margins, and the volume and cost drivers impacting pricing:
- Possibilities of fluctuations in the prices of some of the key raw materials such as steel and aluminum that are used to manufacture the equipment will increase the supplier's manufacturing costs. This will have an inflationary impact on the custom assembly equipment market price.
- However, the intensifying competition in the supply market will prevent any drastic rise in the market price.
- Prices of utilities such as oil and coal are expected to increase during the forecast period. Consequently, this will increase the operating cost of energy producers such as power utilities, thereby adding to the energy expense incurred by suppliers.
Optimize Category Spend for Custom Assembly Equipment
Assembly lines constitute integral parts of at manufacturing facilities that allow speed and accuracy in the building of products. Any unscheduled downtime of such assembly lines will result in substantial financial losses for buyers. To avoid such scenarios, buyers are advised to engage with suppliers that offer equipment with incorporated sensors and IIoT devices. These devices continually monitor equipment performance and take precise measurements of different operating parameters of the equipment to assess the wear and tear of components that face high frequency of failure.
To help category managers optimize spend on custom assembly equipment, this report also offers:
- Custom assembly equipment category management strategies and objectives
- Supplier and buyer KPIs
- Outsourcing category management activities
- Risk management
- Cost-saving opportunities
Build Strategies for Effective Supplier Selection
Machines are susceptible to unannounced downtimes. Considering this fact, it is imperative for buyers to engage with suppliers that provide warranties with their equipment as it assures quality and performance. The time period and the type of warranty provided are important criteria used by buyers in assessing performance. Warranties aid buyers in mitigating risks related to unplanned breakdowns and downtime of equipment.
This custom assembly equipment market procurement intelligence report identifies the major costs incurred by suppliers and provides additional information on:
- Cost-benefit analysis of pricing models
- Supplier relationship management practices
- Technology-facilitated procurement metrics
Devise Effective Category Management Strategies for the Custom Assembly Equipment Market
One of the essential category management objectives for buyers in this market is to opt for custom solutions for their assembly lines to meet specific production goals such as reducing the time to market of their products and enabling JIT inventory management for their raw materials. The other goals include reducing the operating workforce and improving the quality of repeatable processes in their manufacturing cycle.
Key insights offered in this custom assembly equipment market procurement intelligence report on the custom assembly equipment market will help the buyers identify:
- Supplier margins and selection criteria
- Buyer ecosystem and factors influencing the procurement process
- Strategic sourcing and category management strategies
Information on the top custom assembly equipment producers and market buyer and supplier insights are highlighted in this procurement intelligence report.
