Metal Fabrication Market
Metal Fabrication Market (Service: Metal Welding, Metal Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Rolling, Metal Folding, Metal Punching, Metal Stamping; End use Industry: Construction, Automotive, Aerospace, Manufacturing, Energy and Power, Electronics, Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
- Chemicals & Materials
- 251 Pages
Metal Fabrication Market - Snapshot
Metal fabrication is the process of forming metal structures and assemblies from raw metalwork pieces. This process is referred to as a value-added service, as it completely deforms the raw material and develops a completely new structure by using several procedures such as metal welding, metal machining, metal forming, and metal cutting. Metal fabrication workshops offer multiple value-added services under a single roof such as welding, cutting, machining, and shearing. Metal fabricators offer additional value to clients by providing complete services under one facility. Original equipment manufacturers (OEMs) iron and steel manufacturers, building contractors, and value-added resellers enter into contracts with metal fabrication workshops in order to satisfy their metal fabrication needs.
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Advancement in technological tools used in metal fabrication to drive the Metal Fabrication market
Various ERP technologies and software are employed in the metal fabrication market. This makes data easily accessible and accelerates the decision-making process. Increase in usage of computer-aided manufacturing technologies is helping companies operating in the metal fabrication market improve their operational efficiency and enhance production. These advancements in technologies are anticipated to drive the global metal fabrication market during the forecast period.
Automation of metal fabrication and diversification of end-use industries to fuel the metal fabrication market
Advancement in robotics and automation tools boosts the application of robots and automation tools in metal fabrication. Currently, automation is used in metal fabrication to increase efficiency and lower labor costs. Increasing demand for automated manufacturing systems in the metal fabrication market helps in making manufacturing facilities safe, as all critical jobs such as welding and cutting are carried out by robots. Apart from this, automation tools such as laser saws make it easier for fabricators to manufacture metal parts that are precisely cut.
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Fabricated metals are used in various sectors such as automotive, oil & gas, construction, aerospace, agriculture, consumer products, medical devices, and military & defense. As these end-use industries are diversified, effects of cyclic nature of the metal fabrication market are mitigated. Growth of end-use industries such as aerospace and automotive is anticipated to drive the metal fabrication market in the next few years. The global aerospace industry is witnessing expansion with increasing number of passengers. The automotive industry in Asia Pacific is witnessing growth, also due to improved living standards and risen per capita income in developing countries such as China and India. All these factors are anticipated to drive the metal fabrication market during the forecast period.
Lack of skilled labor and developments in additive manufacturing technologies to hinder the metal fabrication market
Finding skilled labor is becoming increasingly difficult, as metal fabrication market is becoming technologically advanced. According to an OECD report, skill shortage is a rising issue across the globe. Countries such as Japan, India, Brazil, and the U.S. are facing severe shortage of skilled workforce despite high unemployment rates. This is anticipated to hinder the metal fabrication market in the near future. Rapid advancements in additive manufacturing (3D printing) technologies are leading to reduction in the time taken to print an object. Additive manufacturing is a highly flexible manufacturing process with high scope for customization, which makes it easy for fabricators to design and manufacture complex parts. This type of manufacturing is not utilized on a large scale. However, additive manufacturing is anticipated to be commercialized in the near future, which is expected to change the dynamics of the metal fabrication market. Thus, lack of skilled labor and advancements in the field of additive manufacturing are anticipated to restrain the metal fabrication market in the near future.
Achieving operational excellence as per market requirements and focus on developing economies offer opportunities for the metal fabrication market
Demand for fabricated metals from OEMs has been fluctuating. It is in line with the demand for end-use products. Product-manufacturing companies have been adopting new operational methods to minimize cost by shortening the production time and lowering inventory costs. Companies operating in the metal fabrication market are adopting new business strategies in order to meet the changing requirements of customers. Metal fabricator companies have the opportunity to efficiently manage operations by using material requirements planning (MRP), Kanban (JIT), and optimized production technology (OPT) to meet the changing requirements of customers and remain competitive in the market. The metal fabrication market in Europe has been experiencing sluggish growth for the last few years. On the other hand, the metal fabrication market in developing countries such as India, China, and Brazil is expected to expand at a rapid pace in the near future. China and India are key countries of the global metal industry. These countries provide lucrative opportunities to companies operating in the metal fabrication market.
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Expansion and Mergers & Acquisitions are Key Strategies
Major players operating in the metal fabrication market have adopted expansion and mergers & acquisitions as their key strategies in order to expand their network. In January 2017, O’Neal Manufacturing Services merged four affiliates: Aerodyne Alloys, United Performance Metals, Plus Ten Stainless, and Vulcanium Metal International in order to form a high-performance metal company called United Performance Metals. The merger helped the company achieve high operational efficiency. Expending current facilities is likely to be a long-term strategy of metal fabrication manufacturers. For example, in June 2016, high-precision Mitsubishi laser cutting carbon dioxide equipment was ordered by Komaspec to cut metals with thickness of up to 16 mm. The newly added capability would help the company meet the risen demand for metal fabrication products.
Asia Pacific held a major share of more than 40% of the global metal fabrication market in 2018
Asia Pacific held a prominent share of the global metal fabrication market in 2018, owing to extensive research and development activities in Japan, China, South Korea, and India. Construction and automotive are focus segments of the metal fabrication market in Asia, owing to strong presence of construction and automotive companies in China and India. Japan is a key country of the metal fabrication market in Asia Pacific, due to high R&D expenditure in the country.
Global metal fabrication market fragmented into small to medium-sized players
Key players operating in the global metal fabrication market are
- Kaman Corporation
- O’Neal Manufacturing Service
- BTD Manufacturing Inc.
- Matcor-Matsu Group Inc.
- Mayville Engineering Comp. Inc.
- Defiance Metal Products Inc.
Metal Fabrication Market – Scope of the Report
Transparency Market Research’s recent report on the global metal fabrication market, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the global metal fabrication market analyzes the market scenario for the period from 2018 to 2027, wherein 2018 is the base year. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the global metal fabrication market also provides data on developments made by important players and stakeholders operating in the market, along with competition analysis. The report also provides an understanding of strengths, weaknesses, threats, and opportunities, along with market trends and restraints in the competition landscape section.
This study also discusses the underlying trends and the impact of various factors on the global metal fabrication market along with their influence on evolution of the market
This study also offers Porter’s five forces analysis, value chain analysis, and regulatory scenario of the global metal fabrication market, in order to elaborate crucial growth strategies of and opportunities for players operating in the market
Key Questions Answered in Global Metal Fabrication Market Report
- How much value does the global metal fabrication market is expected to reach by the end of the forecast period?
- Which segment currently account for the maximum share of the global metal fabrication market?
- What are the key factors expected to drive the global metal fabrication market?
- Which region is likely to be a lucrative market for metal fabrication during the forecast period?
- What are the essential strategies adopted by key players operating in the global metal fabrication market to expand their geographical presence?
- What are major advancements in the global metal fabrication market?
This report answers these questions about the global metal fabrication market, aiding major stakeholders and key players in making the right decisions and strategizing for growth of their business
Global Metal Fabrication Market: Research Methodology
This TMR report on the global metal fabrication market is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. The competition scenario of the global metal fabrication market is supported by an assessment of different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data and the current trends, researchers of the global metal fabrication market arrived at predictions and estimations, and calculated the market forecast.
This report uses an analytical triangulation method to estimate the numbers of the global metal fabrication market, by using both bottom-up and top-down approaches
This detailed assessment of the global metal fabrication market, along with an overview of the market, is provided based on a careful examination of avenues related to the market. Analysts’ conclusions on how the global metal fabrication market is set to expand are based on carefully vetted primary and secondary sources.
Global Metal Fabrication Market: Segmentation
This report on the global metal fabrication market provides segmentation of the market based on service, end-use industry, and region
End use Industry