Market Snapshot:
According to International Trade Administration report, "steel production continues to show significant growth with production increased by 47% between 2005 and 2017, which translates to 8 million metric tons in 2005 to 1.69 billion metric tons in 2017 respectively". In addition to this, "the Federal Government has concluded that the global demand for press-hardened steel sheet that can be used for complex stamped parts and other applications will increase by 36% by 2020. These steel sheets are majorly used in the automotive, aerospace, and marine industry. Thus, the global metal fabrication market will experience significant growth over the forecasted period. Metal fabrication process used to turn basic raw material and metal parts into desired shapes and sizes that can be primarily used in the automotive, mining, construction, and civil infrastructure sector.
Highlights from Metal Fabrication Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | Asia Pacific |
Unit | Value (USD Billion) |
CAGR | 4.13% |
The key Vendors profiled in the report are Amada Corporation (Philipines), Trumpf India Pvt Ltd. (India), Bystronic Laser AG (Switzerland), Jenoptik AG (Germany), IPG Photonics (United States), Jet Edge, Inc. (United States), Messer Cutting Systems GmbH (Germany), BTD Manufacturing Inc. (United States), Kapco Inc. (United States), Metal Component Engineering Limited (Singapore), Watson Engineering Inc. (United States), Etihad Steel Factory (Qatar), Emirates Engineering Services & Factories (United Arab Emirates), Ferrotechengg (Oman) and Prestige Engineering Industries L.L.C (United Arab Emirates). Additionally, other players that are part of this comprehensive study are Ironform Corporation (United States) and P& A International (United States).
Geographic Breakdown and Segment Analysis
The Global Metal Fabrication market presents a comprehensive analysis of the Metal Fabrication market by product type (Industrial Metal Fabrication, Structural Metal Fabrication and Commercial Metal Fabrication), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Metal Fabrication industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest. For instance, while the Asia Pacific holds majority of market share of the Metal Fabrication market, the Europe has emerged as a crucial market for several Metal Fabrication brands.
Analyst at AMA have segmented the market study of Global Metal Fabrication market by Type, Application and Region.
Influencing Trend:
Growing Usage of Computer-Aided Manufacturing Technologies and Adoption of Metal 3D printing to Provide Better Manufacturing Precision
Market Growth Drivers:
Upsurging Use of Metal Fabrication especially Steel Fabrication in Construction Industry and Continues Technological Advancements in Manufacturing and Automotive Sector
Challenges:
Technological Advancements has Uprsurged Recycling of Steel Products and Increasing Raw Material Costs will Upsurge the Prices for Steel Fabrication Services
Restraints:
Usage of Low-Quality Raw Materials as well as Increasing Metal Substitutes and Stringent Manufacturing Protocols and Environmental Protection Policies
Opportunities:
Introduction to Tube Laser Technology to Produce More Intricate Cuts and Rising Uses of Rods, Beams, and Rails in the Mining Industry
Market Developments Activities:
In November 2023, Klöckner & Co. has agreed to acquire Industrial Manufacturing Services (IMS), Lancaster, S.C., through its U.S. subsidiary Kloeckner Metals Corp. (KMC). IMS is a highly profitable company with annual sales of approximately USD 30 million.
In 2018, Tata Steel and ThyssenKrupp signed an agreement to combine their European steel business in a joint venture. This merger will create a strong and robust European steel company with the emergence of rising opportunities for stakeholders.
Regulatory Insights:
On June 13, 2008, the Environmental Protection Agency (EPA) issued final national air toxic standards for smaller-emitting sources, known as area sources, for nine metal fabrication and finishing source categories. These standards affect any new or existing facility that performs metal fabrication or finishing operations which uses or emits compounds of cadmium, chromium, lead, manganese, and nickel; or uses or emits elemental forms of all except lead.
Key Target Audience
Metal Fabrication Service Provider, Metal Fabrication Industry Associations, Government Agencies, Environment Protection Regulcators, Research and Developemnt Organizations and Others