North America Metal Fabrication Market
North America Metal Fabrication Market (Service: Welding, Machining, Forming, Shearing, Cutting, Folding, Stamping, and Punching; Raw Material: Steel, Aluminum, and Others; and End Use: Construction, Automotive, Manufacturing, Energy & Power, Electronics, and Others) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Perforation Rollers and Lasers Create Revenue Opportunities for Metal Fabrication Industries
Advancements in perforated metal are being observed in the North America metal fabrication market. Perforation rollers are becoming increasingly commonplace in the metal fabrication industry in order to create even and uniform punches in metal. Equipment manufacturers are increasing efforts to develop project-specific rollers to meet unique demands of clients. These trends contribute toward the growth of the North America metal fabrication market, which is estimated to reach a value of ~US$ 6 Bn by the end of 2030.
There is a growing demand for perforation rollers that can go through the metal cold or be heated to create a clean punch each time. These novel rollers are creating incremental opportunities for metal fabrication companies, since the heated pin in these rollers creates a reinforced ring around the perforation to increase the strength of the metal. On the other hand, lasers are being highly publicized for the perforation of metals.
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3D Printing Technology Gains Popularity to Reduce Costs and Create Complex Designs
Companies in the North America metal fabrication market are bolstering their credibility credentials by unlocking opportunities in 3D (Three Dimensional) printing. 3D printing is gaining popularity to reduce manufacturing time and cost, as the technology eliminates the assembly steps and encourages freedom in design. Moreover, 3D printing minimizes the wastage of resources with regard to human labor as well as materials. Hence, metal fabricators are investing in the 3D printing technology to simplify the process of developing tools and other metal structures.
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3D printing is found to overcome the limitations of traditional manufacturing processes in the North America metal fabrication market in order to gain efficacy in the creation of the most complex metal designs. Thus, the innovative printing technology is contributing toward a modest CAGR of ~4% of the North America metal fabrication market.
Automation: Hero or Villain in Metal Fabrication?
Automation is revolutionizing the North America metal fabrication market. Industry 4.0 and metal fabrication activities are gaining prominence in manufacturing end-use products. This is evident since the manufacturing end use segment is expected to generate the third-highest revenue in the market.
Moreover, job scarcity is one of the outcomes of the adoption of automated processes. However, there is an industry-wide labor shortage in the North America metal fabrication market. Hence, companies are adopting automated procedures to meet the demands of clients. Robots are not completely eliminating human workers in the market landscape, but come handy in automating unskilled or mundane tasks. Thus, fabricators are tapping into opportunities in other aspects of welding and machining of metal fabrication that require manual labor.
Supply Chain Crisis Due to COVID-19 Demands More Visibility for Monitor Networks
The novel coronavirus (COVID-19) has disrupted supply chains in the North America metal fabrication market. With rapidly surging COVID-19 cases and deaths in the U.S., the overall economy in North America is undergoing unprecedented changes. Metal fabrication containerships are being delayed and arriving after several days. The author of Supply Chain Resilience, Phil Palin, focused on catastrophe-preparedness at the MODEX material handling tradeshow held in Atlanta on March 10 2020. Many factories in the North America metal fabrication market have resumed their production activities, but are challenged by the non-availability of truckers.
Metal fabrication companies are strategizing on visibility in supply chain networks to meet the demands of automotive industry clients. Moreover, there is a growing demand for the right data to differentiate between just-in-time lean inventory and resilient supply chains. Thus, metal fabricators are focusing more on agility and less on inventory amidst the COVID-19 crisis.
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The agility in processes is the key to overcome supply chain challenges amidst the COVID-19 crisis. On the other hand, the tube laser technology is offering companies in the North America metal fabrication market with several opportunities. This technology is being highly publicized to produce more precise cuts and reduce downtime associated with the downstream assembly.
Robotic and artificial intelligence technologies are bringing a significant change in the market landscape. However, primitive techniques in metal fabrication are resulting in less-than-optimal designs, thus inhibiting market growth. Hence, companies should adopt perforation rollers to create even metal designs that meet client requirements in construction, automotive, and manufacturing industries.
North America Metal Fabrication Market: Introduction
- Metal fabrication is defined as the process of manufacturing machines and structures from raw metal materials. The process includes welding, machining, forming, shearing, cutting, folding, stamping, and punching.
- Additionally, metal fabrication is used in a variety of applications ranging from hand railings to heavy equipment and machinery. Specific applications include cutlery and hand tools; architectural and structural metals; hardware; springs and wires; and screws, nuts, and bolts.
- Metal fabrication is also carried out in several industries and consumer products. Standard raw materials used in metal fabrication include plate metals, castings, formed fittings, expanded metals, sectional metals, flat metals, and welding wires.
Advancements in Technological Tools in Fabrication to Drive North America Metal Fabrication Market
- Various ERP technologies and software are used in the metal fabrication process. This makes the data easily accessible and accelerates the decision-making process.
- Increase in usage of the computer-aided manufacturing (CAM) technology is helping players operating in the metal fabrication market improve their operational efficiency and increase their production
- As cutting, welding, and other fabrication processes are evolved and new materials are developed, finishing processes also become advanced with the use of technological tools
Rising Use of Automation Technology in Metal Fabrication to Drive North America Metal Fabrication Market
- The automation technology is used to enhance outcomes in industrial steel fabrication. Its popularity has significantly risen as a solution to providing customers with high-quality, cost-friendly steel fabrication products on time.
- The automation technology has already been playing a role in the metal fabrication market. Technological innovations have also enabled advancements in computer numerically controlled (CNC) machines as well as welding processes. These have helped improve precision and quality and increase production volumes.
- Furthermore, adoption of the automation technology can help in creating a virtuous cycle, whereby increased profitability generates revenue for additional capital investments
Increase in Popularity of 3D Metal Printing Worldwide to Hamper North America Metal Fabrication Market
- 3D metal printing is replacing the traditional methods used in the manufacturing industry. The industry has been adopting the additive manufacturing technology by manufacturing small parts by using 3D printers over the last few years.
- Most companies operating in healthcare and aerospace sectors have already adopted the 3D metal printing technology. Some players are running pilot projects to examine how 3D metal printing can contribute to their operations, while others are using 3D printers to produce metal prototypes in-house.
- At the time of high volatility in the cost of raw materials, metal manufacturers are employing 3D printing with great interest. 3D metal printing can significantly lower production costs as well as lead times for a variety of metal parts.
- On the other hand, the 3D printing process also makes small production batches more cost effective by broadening the range of manufacturing options and enabling better customization for end-user needs
Achieving Operational Excellence as per Industry Requirements Provides Opportunities to Metal Fabrication Market
- Demand for fabricated metals from original equipment manufacturers (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 costs by shortening the production time and lowering inventory costs.
- Companies operating in the metal fabrication market in North America are adopting new business strategies to address changing requirements of customers
- Metal fabricator companies have an opportunity to efficiently carry out operational management by using Material Requirements Planning (MRP), Kanban (JIT), and Optimized Production Technology (OPT) to address changing requirements of customers and remain competitive in the marketplace
- Most modern steel fabrication factories require computer-aided design and detailing (CAD), which is linked directly to computer numerically controlled (CNC) machinery on factory floors. This raises the enterprise value.
- Moreover, modern manufacturing methods can enable fabrication of composite, primary, load-carrying structures for commercial aircraft, which are inexpensive as well as light in weight
- Thus, in order to achieve operational excellence, manufacturers and fabricators are trying to cope with changing requirements in the metal fabrication market
Highly Competitive North America Metal Fabrication Market
- The North America metal fabrication market is highly fragmented. Various locally organized players operate in the market in the region. Scale of operations, quality expertise, and product differentiation are also high.
- Key players operating in the North America metal fabrication market are
- O’Neal Manufacturing Services
- BTD Manufacturing Inc.
- Kapco Metal Stamping
- Canadian Metal Fabricators Ltd.
- Ballman Metals
- Schaumburg Specialties LLC
- Mayville Engineering Company, Inc.
- Watson Engineering Inc
- Miro Manufacturing, Inc.
- Matcor-Matsu Group Inc.
- Standard Iron & Wire Works Inc.
North America Metal Fabrication Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the North America metal fabrication market in order to accurately gauge its growth potential. The study presents detailed information about important drivers, restraints, and trends that are creating a landscape for growth of the North America metal fabrication market in order to identify opportunities for market stakeholders. The report also provides insightful information about how the North America metal fabrication market would expand during the forecast period i.e. 2020–2030.
The report offers intricate dynamics about different aspects of the North America metal fabrication market, which aids companies operating in the market in making strategic decisions. TMR’s study also elaborates on significant changes that are anticipated to configure growth of the North America metal fabrication market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the North America metal fabrication market and estimates statistics related to the market, in terms of value (US$ Mn).
This study covers detailed segmentation of the North America metal fabrication market, along with key information and a competitive outlook. The report mentions company profiles of players that are currently dominating the North America metal fabrication market, wherein various developments, expansions, and winning strategies practiced by these players have been presented in detail.
Key Questions Answered in TMR’s Report on North America Metal Fabrication Market
The report provides detailed information about the North America metal fabrication market on the basis of comprehensive research on various factors that are playing a key role in accelerating growth of the market in the region. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the North America market and are looking for innovative methods to create a unique benchmark in the market so as to help them design successful strategies and make target-driven decisions.
- Which segment of the North America metal fabrication market would emerge as a revenue generator for the market in the region during the forecast period?
- How are key market players successfully earning revenues in the North America metal fabrication market?
- What would be the Y-o-Y growth trend of the North America metal fabrication market between 2020 and 2030?
- What are the winning imperatives of leading players operating in the North America metal fabrication market?
Research Methodology – North America Metal Fabrication Market
The research methodology adopted by analysts for compiling the report on the North America metal fabrication market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the North America metal fabrication market.
During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales & marketing managers. On the basis of the data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the North America metal fabrication market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the North America metal fabrication market.
North America Metal Fabrication Market – Segmentation
TMR’s research study assesses the North America metal fabrication market based on service, raw material, end use, and country. The report presents extensive market dynamics and growth trends associated with different market segments and how they are influencing growth prospects for the North America metal fabrication market.
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