U.S. Precision Steel Fabrication Market Report

Dublin, Jan. 25, 2021 (GLOBE NEWSWIRE) — The report “US Precision Steel Fabrication Market – Forecast (2020 – 2025)” has been added to from ResearchAndMarkets.com offer.

The U.S. precision steel fabrication market is expected to reach $2.1 billion by 2025, after growing at a CAGR of 6.2% in 2020-2025. With the increasing demand for steel in the automotive and construction sectors, the US precision steel fabrication market is witnessing an increase in market growth.

While with the increasing industrialization in the United States, the growth in purchasing power with the industrialization in the United States will further strengthen the overall market demand for precision steel fabrication in the United States during the forecast period.

United States Precision Steel Fabrication Market Segment Analysis – By Type

The stainless steel segment holds the largest share of the US precision steel fabrication market. Stainless steel has strong mechanical properties at room temperature compared to other materials. In particular, its properties such as ductility, elasticity and hardness, allow it to be used in difficult modes of forming metals.

Stainless steel is also considered the green material and is recyclable for endless times. While its environmentally neutral and inert nature in contact with elements such as water and it does not release compounds that can change their composition, drives the demand for stainless steel.

U.S. Precision Steel Fabrication Market Segment Analysis – By Application

The compressor valve industry has been the largest market for precision steel fabrication in the United States. Compressor valves have been used in various ways such as in air conditioning systems, brake systems, heat pumps and many more. Valve plates are used in a wide range of compressor applications in different gas compositions and operating temperatures, acting as seals between different pressure zones inside the compressor. They open when the differential pressures between the zones are reached and allow gases to flow from high to low pressure regions during the compression cycle. This makes compressor valves one of the essential parts of various machines and will drive the growth of the steel fabrication market.

United States Precision Steel Fabrication Market Segment Analysis – By End Use

The automotive sector has been the largest consumer of the steel fabrication market. A wide range of manufacturing technologies are used by this industry, from heavy duty vehicles, through volume or niche car manufacturing to motorcycles. Materials also vary from metals to composites. The growing production of motor vehicles is expected to drive the growth of the steel fabrication market. According to OICA production statistics, the United States produced 10.8 million vehicle units combined with the production of passenger cars, heavy-duty vehicles and light-duty vehicles.

U.S. Precision Steel Fabrication Market Drivers

Growing demand for battery electric vehicles

The shift to electric vehicles in both developed and developing countries would increase the growth of existing combustion engine vehicles and also boost the US precision steel manufacturing market during the forecast period such as for the manufacturing of new types of vehicles (electric vehicles), the demand for steel will also increase. According to the IEA, Norway, the Netherlands and Japan lead the e-vehicle segment.

Norway held the 46% share in terms of global new electric car sales, as reported by the IEA in 2018. In order to achieve zero emissions targets under the Paris Climate Agreement, by 2017, the French government announced that it would ban diesel and gasoline. -fully motorized vehicles and switch to electric vehicles by 2040.

U.S. Precision Steelmaking Market Challenges

Adoption of composite or other materials in the automotive sector

Recently, in order for automakers to focus more on lightweight vehicles, the use of aluminum has increased and can potentially reduce vehicle body weight. It has been shown that up to 50% weight savings for body-in-white can be achieved by replacing steel with aluminium. Magnesium is another lightweight metal that is becoming increasingly common in automotive engineering. The need for higher fuel efficiency, weight reduction, environmental regulations and policies as well as customer demand forces automakers to focus on developing new materials and redesigning the existing one. and the reasonable selection of materials.

Impact of COVID-19

In the United States, assembly plant closures are adding intense pressure on an increasingly struggling global auto sector supply base, where companies risk breaching covenants, potentially forcing banks to intervene. The exogenous shock of the coronavirus pandemic is exacerbating an ongoing drop in global demand. Significant restructuring can be expected in the automotive retail industry as dealers are unable to adapt quickly enough to changing demand conditions.

U.S. precision steel fabrication market landscape

  • Selco Manufacturing Corp.
  • Copelands, Inc.
  • American Grinding & Machine Co.
  • Michigan Mechanical Services
  • Genzink steel
  • Chicago Metal Fabricators
  • HMR Manufacturing
  • Rothe Welding Inc.
  • JC MacElroy Company
  • Allstate Tower

Key points to remember

  • Growing demand for steel from the automotive and construction industry is expected to contribute to the growth of the precision steel fabrication market in the United States.
  • The steels are recyclable and environmentally friendly, this will increase the market demand for precision steelmaking in the United States in the near future.
  • The COVID-19 pandemic will create hurdles for the US precision steel manufacturing market.

Main topics covered:

1. U.S. Precision Steel Fabrication Market – Market Overview

2. U.S. Precision Steel Fabrication Market – Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Type
2.3 Key Trends by Application
2.4 Key Trends by End-Use Industry

3. U.S. Precision Steel Fabrication Market – Landscape
3.1 Benchmarking
3.1.1 Market Share Analysis – Top Companies
3.1.2 Product Benchmarking – Major Companies
3.1.3 Top 5 financial analyzes
3.1.4 Patent Analysis – Top Companies
3.1.5 Price analysis

4. U.S. Precision Steel Fabrication Market- Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Market Opportunities
4.4 Model of the five forces of carriers

5. U.S. Precision Steel Fabrication Market – Strategic Analysis
5.1 Value chain analysis
5.2 Opportunity analysis
5.3 Market Life Cycle
5.4 Suppliers and Distributors Analysis

6. U.S. Precision Steel Fabrication Market – By Type (Market Size – USD Million)
6.1 Carbon steel
6.2 Alloy steel
6.3 Stainless steel

7. U.S. Precision Steel Fabrication Market – By Application (Market Size – USD Million)
7.1 Compressor valves
7.2 Shock absorbers
7.3 Kitchen utensils
7.4 Springs
7.5 Surgical blades
7.6 Others

8. U.S. Precision Steel Fabrication Market – By End-Use Industry (Market Size – USD Million)
8.1 Automotive
8.2 Aeronautics
8.3 Pharmaceutical
8.4 Military and Defense
8.5 Electronics
8.6 Food and drink
8.7 Telecommunication
8.8 Manufacturing

9. U.S. Precision Steel Manufacturing Market – Entropy
9.1 New product launches
9.2 Mergers and Acquisitions, Collaborations, Joint Ventures and Partnerships

10. Market share analysis bonus
10.1 Country Level Market Share – Top Companies
10.2 Market Share by Product Type/Product Category – Top Companies

11. Company Analysis of U.S. Precision Steel Fabrication Market

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