Global Sheet Metal Fabricating Services Industry (2020 to
Dublin, Jan. 21, 2021 (GLOBE NEWSWIRE) — The ‘Sheet Metal Fabrication Services – Global Market Trajectory & Analytics’ report has been added to from ResearchAndMarkets.com offer.
The editor brings years of research experience to the 8th edition of this report. The 392-page report presents concise information on the impact of the pandemic on production and buyers for 2020 and 2021. A gradual near-term recovery by key geography is also discussed.
Global sheet metal fabrication services market to reach US$4.3 billion by 2027
Amid the COVID-19 crisis, the global sheet metal fabrication services market estimated at US$3.8 billion in 2020, is expected to reach a revised size of US$4.3 billion by 2027, with growing at a CAGR of 2% over the analysis period. 2020-2027.
Steel, one of the segments analyzed in the report, is expected to grow at a CAGR of 2.1% to reach US$1.8 billion by the end of the analysis period. After an initial analysis of the business implications of the pandemic and the induced economic crisis, the growth of the aluminum segment is readjusted to a revised CAGR of 2% for the next 7-year period. This segment currently accounts for a 28% share of the global sheet metal fabrication services market.
The United States accounts for more than 29% of the global market size in 2020, while China is expected to grow at a CAGR of 3.1% for the period 2020-2027
The sheet metal fabrication services market in the United States is estimated to be worth US$1.1 billion in 2020. The country currently accounts for a 28.98% share of the global market. China, the world’s second largest economy, is expected to reach an estimated market size of US$676.5 million in 2027 growing at a CAGR of 3.1% through 2027. Other notable geographic markets include Japan and Canada, each expected to grow by 1.4. % and 1.6% respectively over the period 2020-2027. In Europe, Germany is expected to grow at a CAGR of around 1.6%, while the rest of the European market (as defined in the study) will reach $676.5 million by 2027.
The other materials segment holds a share of 29.9% in 2020
In the global other materials segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 1.7% for this segment. These regional markets representing a combined market size of US$852.6 million in 2020 will reach a projected size of US$957.9 million by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets. Led by countries such as Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$537.5 million by 2027, while Latin America will expand to a CAGR of 1.7% over the analysis period.
Competitors identified in this market include, but are not limited to:
- Action Manufacturing, Inc.
- BTD manufacturing
- Classic Sheet Metal, Inc.
- Dynamic Aerospace and Defense Group (Hydram Engineering Hydram Engineering Ltd.)
- Ironform Corporation
- Kapco Metal Stamping
- Marlin Steel Wire Products
- Mayville Engineering Company, Inc.
- Metcam, Inc.
- Moreng Metal Products Inc.
- Noble Industries, Inc.
- O’Neal Manufacturing Services
- Ryerson Holding Company
- Standard Iron & Wire Works, Inc.
- The Metallurgy Group
Main topics covered:
I. INTRODUCTION, METHODOLOGY AND SCOPE OF THE REPORT
1. MARKET OVERVIEW
- Impact of Covid-19 and a looming global recession
- Global market shares of competitors
- Global Sheet Metal Fabrication Services Competitor Market Share Scenario (%): 2018E
2. FOCUS ON CERTAIN PLAYERS
3. MARKET TRENDS AND DRIVERS
4. GLOBAL MARKET OUTLOOK
III. MARKET ANALYSIS
- Total number of companies profiled: 34
For more information about this report visit https://www.researchandmarkets.com/r/nne9ok
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