Metal fabrication services market size [2022-2029] |
Pune, India, May 10, 2022 (GLOBE NEWSWIRE) — The world metal fabrication services market The size is expected to grow given the remarkable shift from manual manufacturing services to automated manufacturing. In its upcoming latest report titled “Metal Fabrication Services Market Size, Industry Share & Analysis, By Service Type (Punching, Stamping, Forming, Welding, Cutting, Polishing, Others), By Material (Steel , Aluminum, Other), by End-User Industry (Oil & Gas, Construction, Aerospace, Marine, Automotive, Military, Others) and Regional Forecast, 2019-2026,” Fortune Business Insights™ Forecasts Positive Market Growth During of the forecast year.
The Metal Fabrication Services market report highlights detailed research on the new advancements being implemented in the industry to support the development of the market and obtain lucrative opportunities for improving the service demands. New services and products introduced by key players in major countries are further discussed in this report to analyze the business development strategies of the company. The number of competitors’ products and services are assessed to understand the potential scope of market performance development in the emerging competition.
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Metallurgy is an integral part of industrial operations. It involves several processes that are used to cut, shape or mold metal structures into the final product. Aluminum, brass, copper, gold, and iron are some of the examples of types of metals involved in metal fabrication. The report offers detailed analysis and research over the forecast period (2019-2026) using research methodologies like PESTEL analysis and SWOT analysis. Further, the report characterizes the market based on several growth parameters such as drivers or trends, challenges. It also makes use of the major competitors present in the competitive landscape and the strategies they are adopting including mergers and acquisitions, new product launches, collaborations, and other strategies to gain market presence.
Drivers and Restrictions
Paradigm shift towards automated manufacturing to drive market growth
The presence of technological advancements is attested in the metal fabrication market. With an array of advantages over manual fabrication, automated fabrication is likely to propel the growth of the metal fabrication market in the coming years. Benefits include lower prices for metal fabrication services in industrial operations using automated manufacturing. Additionally, the adoption of automated manufacturing has resulted in increased efficiency in metal fabrication departments worldwide. Apart from this, automated manufacturing leads to fewer incidents during the manufacturing process. The rise of alternative technologies such as additive technology which uses 3D designs to fabricate metals is considered to be a deterrent to the growth of the market to some extent.
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Asia-Pacific must remain dominant; Automation to inflate North America and Europe market
In terms of region, the market is grouped into Latin America, North America, Middle East & Africa, Europe, and Asia-Pacific. Among these, Asia-Pacific comprising of India, Japan, China, Vietnam and Bangladesh is expected to remain dominant and continue to rise due to increased industrial activities. Also, government initiatives such as “Make in India” and “Make in China 2025” are expected to help the metal fabrication market positively. On the other hand, North America and Europe are expected to experience sustained growth with the adoption of automated metal fabrication services. The low cost of automated manufacturing services will further increase the market revenue in these regions. Additionally, the rapid growth of infrastructure in the Middle East and Africa would drive the growth of the market over the forecast period.
Core Industrial Partners acquires Cal-X Inc. to strengthen its position
Several key players in the metal fabrication services market are planning to adopt strategies such as mergers and acquisitions to attain maximum market share in the coming years. In addition to this, they plan to launch automated manufacturing services or products with the aim of increasing efficiency and gaining an edge in the competitive market. Here are some of the latest key industry developments:
- August 2019: Appolo Heating, Inc. and J&J Sheet Metal Works, LLC are two subsidiaries of Moro Corporation. J&J is set to add fabrication, installation and BIM modeling services to augment Appolo Heating. Together, they will provide an integrated service and product, which will help strengthen their position in the market.
- July 2019: Smucker Laser added a new press brake to add metal bending service to current metal fabrication and laser cutting services. The Safan Darley E-Brake 200-4100 Ultra NS 6 axis has been added for complex bending capabilities.
Leading companies operating in the global metal fabrication services market. They are the following:
- Helander Metal
- Schaumburg Specialties GmbH
- Metal-Fab Service Industries Inc.
- Gothaer Fahrzeugtechnik GmbH
- Ark Alloy, LLC
- GG Manufacturing Inc.
- American Metal Fab, Inc.
- AAP Metal Fabrication Services
- PGL Industries, Inc.
- Miro Manufacturing Inc.
Global Metal Fabrication Services Market Segmentation:
By type of service
- Chopped off
By End User Industry
- oil and gas
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)
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