Metal Fabrication Market: Snapshot
Investments in global infrastructure projects have been increasing rapidly over the past decade and this presents a growing opportunity for the prefabricated construction market to grow considerably in the coming years. This acts as a key factor driving the demand for metal fabricators, especially in developed regions such as North America.
The global market for metal fabrication is also fueled by continued investments in electric furnace and metals processing, the growing aluminum consumption, the reshoring of manufacturing practices in the automotive industry, recovery in non-residential investments, and growing aerospace demand.
The global metal fabrication market was valued at US$16.35 bn in 2015 and is forecast to expand at a CAGR of 3.0% to reach US$21.38 by 2024.
Soaring Application of Metal Fabrication in Construction Sector
The metal fabrication market is segmented on the basis of end use into construction, automotive, manufacturing, energy and power, electronics, and others. The construction sector is the leading end-use segment and its dominance in the metal fabrication market is characterized by the growing number of construction activities across developing economies.
The most active consumer bases for metal fabrication services are the manufacturing and automotive sectors. In order to cater to the growing demand for metal fabrication in these two industries, metal fabrication units are focused on providing finished as well as fabricated metal products that can be directly used to assemble various parts.
Germany, China Emerge as Influential Markets for Metal Fabrication
Europe was identified as the key metal fabrication market, holding approximately 1/4th of the global market share in 2015. The growing number of metal fabrication units in Europe is mainly attributed to the growing demand for metal fabricated products from the automotive and manufacturing sectors. In Europe, the industrial scenario is mainly adjudged by the overall growth in the manufacturing and automotive industries. Furthermore, favorable government regulations have strengthened the European metal fabrication market. Germany held the leading market share in the European region and is expected to witness rapid growth during the forecast period, expanding at a CAGR of 4.3%.
Asia Pacific is one of the key regions holding a comparatively larger share in the global metal fabrication market in 2015 and is expected to dominate the market throughout the forecast period. China held the majority of the market share in Asia Pacific as well as globally and is projected to expand at a CAGR of 2.4% from 2016 to 2024. The establishment of new metal fabrication plants in Japan, China, India, Singapore, and South Korea is mainly driven by the rise in construction activities, the growing number of iron and steel manufacturing units, and an overall rise in the number of manufacturing plants. Furthermore, the growth of the industrial sector across Asia Pacific has positively influenced the expansion of the metal fabrication market in the past few years.
Some of the leading players in the global metal fabrication market are O’Neal Manufacturing Service, BTD Manufacturing Inc., Kapco Inc., Komaspec Pte Ltd., Mayville Engineering Company Inc., Watson Engineering Inc., Defiance Metal Products, Matcor-Matsu Group Inc., Standard Iron & Wire Works Inc., Ironform Corporation, LancerFabtech Pvt. Ltd., Interplex Holdings Pte. Ltd, and P & A International.
The Metal fabrication market report provides an analysis of the global metal fabrication market for the period 2014 – 2024, wherein 2014 is the base year and the period from 2016 to 2024 is the forecast period. Data for 2014 has been included as historical information. The report covers all the prevalent trends playing a major role in the growth of the metal fabrication market over the forecast period. It also highlights various drivers, restraints, and opportunities expected to influence the market growth during the said period. The study provides a holistic perspective on market growth, throughout the above forecast period in terms of revenue estimates (in US$ Mn), across different geographies, which include North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America. The report provides cross-sectional analysis of the global metal fabrication market in terms of market estimates and forecasts for all the segments across different geographic regions. This research report provides in-depth analysis of the global metal fabrication market on the basis of service, end-use industry, and geography. The report also includes competitive profiling of major players engaged in providing metal fabrication services. Major business strategies adopted by them, their market positioning, and various recent developments have also been identified in the research report. This report also provides market positioning analysis of major players operating in the metal fabrication market.
This research study on the global metal fabrication market provides a detailed analysis of various services and end-use industries. The report also offers an in-depth analysis of various factors such as market drivers, restraints, and growth opportunities affecting the market dynamics. These factors enable the analysis of various trends that would impact the market during the forecast period from 2016 to 2024. The report includes a comprehensive coverage of the underlying economic and technological factors under key trend analysis influencing the metal fabrication market. Furthermore, the report aims to provide strategic insights about the company’s strategies and developments through SWOT analysis in the metal fabrication market. The market positioning analysis of key players throws light on the prevalent competition in this market.
Based on the end-use industries, the metal fabrication market is segmented into construction, automotive, manufacturing, energy & power, electronics and others. Based on factors such as budget, scalability, flexibility, and ease of use, end users tend to select best-fit solutions in order to cater to their requirements and business usage.
Various factors that affect the growth of the metal fabrication market have been identified in this report. The report aims to provide a comprehensive cross-sectional analysis of the metal fabrication market across geographies including North America, Europe, Asia Pacific, Middle-East and Africa (MEA), and South America. In addition, the report highlights the competitive landscape of the metal fabrication market and identifies various business strategies adopted by the leading players. Under the company profiles section, the report provides an overview of the companies operating in the market, strategies deployed by them to gain competitive advantage, SWOT analysis, annual revenue generated by them in the past two/three years, and recent developments.
Some of the key industry players profiled in the research study include O’Neal Manufacturing Service, BTD Manufacturing Inc., Kapco Inc., Komaspec Pte Ltd., Mayville Engineering Company Inc., Watson Engineering Inc., Defiance Metal Products, Matcor-Matsu Group Inc., Standard Iron & Wire Works Inc., Ironform Corporation, LancerFabtech Pvt. Ltd., Interplex Holdings Pte. Ltd, and P & A International
The global Metal Fabrication market has been segmented as follows:
Metal Fabrication Market, by Service
- Metal Welding
- Metal Forming
- Metal Cutting
- Metal Folding
- Metal Rolling
- Metal Punching
- Metal Stamping
Metal Fabrication Market, by End-use Industry
- Energy & Power
- Others (Defense & Aerospace and Mining)
Metal Fabrication Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- Rest of Asia Pacfic
- Middle East & Africa (MEA)
- GCC Countries*
- South Africa*
- Rest of MEA
- South America
- Rest of South America
*Cross country segmentation have been provided for the major countries across all the regions.