About Sheet Metal
Sheet metal products are extremely solid and are utilized in sturdy structures. additionally, they are thin and lightweight, straightforward to move. These are appropriate to be used in numerous atmospheric conditions and supply resistance to wetness and corrosion. Sheet metal can be used in automobiles and trucks, airplane infrastructure and wings, medical tables, architecture, and many other applications causing a rise in demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market for sheet metal is fragmented by the global players owing to demand the construction and infrastructure business, automotive business and others for robust material employment. The Players should focus upon innovation in order to cater to newer demands for the wide usage of sheet metal in new technologies like hyperloop for grabbing the market share. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Admach Auto India Ltd. (India), Autoline Industries Ltd. (India), B I L Metal Inds. Ltd. (India), CaparoMaruti Ltd. (India), Ferreterro India Pvt. Ltd. (India), Hwashin Automotive India Pvt. Ltd. (India), J B M Auto Ltd (India), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South Korea) and Associated Materials LLC (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are ABC Sheet Metal (United States), A&E Manufacturing Company (United States), General Sheet Metal Works Inc. (United States) and BlueScope Steel Limited (United States).
Segmentation Overview
AMA Research has segmented the market of Global Sheet Metal market by Type (Steel, Aluminum, Tin, Copper and Others), Application (Automotive, Aerospace & Defense, Construction, Oil & Gas, Food Processing, Chemicals and Others) and Region.
On the basis of geography, the market of Sheet Metal has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Direct will boost the Sheet Metal market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Strengthening the Alloy for Hardening the Sheet Metals for Plate Development in 3D Technology
Market Growth Drivers:
Rise in Automotive Manufacturing and Growth in Construction Industry causes Increasing Demand for Sheet Metal
Challenges:
High Setup Cost for Sheet Metal Equipment Manufacturing
Restraints:
Rising Use of Carbon Fibre as Alternative and Lighter Solution
Opportunities:
Rise in Extensive Use in The Aerospace Industry for Applications Including Aircraft Skin, Structural Parts, Engine Components, Hydraulic Systems, Missiles, And Rockets
Market Leaders and their expansionary development strategies
In November 2023, Approved Sheet Metal, a leading custom sheet metal fabrication company acquired of Technical Machine Components, The Acquisition will provide Approved Sheet Metal and its growing customer base with a dedicated facility that will focus on machining operations that are complementary to existing Approved Sheet Metal customer projects.
In 2020, Tata steel, a leading steel manufacturer in India and POSCO group from South Korea, collaborate to develop steel tubes needed for high-speed hyperloop transportation systems. This collaboration will develop high-quality steel grades needed for the huge vacuum tubes that allow high-speed transport using little energy.
Key Target Audience
Sheet Metal Manufacturer, Provider/Distributor, Raw Material Provider, Research Institutes, Aerospace Companies, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.