Metal Fabrication Market
Metal Fabrication Market (Product: Metal Valve, Threaded Products, Machine Shops, Power Boiler & Heat Exchanger, Metal Tank, Metal Can & Container, Architectural & Structural Metal, Spring & Wire, and Others; Raw Material: Iron & Steel, Aluminum, and Others; and End-use Industry: Construction, Automotive, Manufacturing, Energy & Power, Electronics, and Others) - U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Chemicals & Materials
- 60 Pages
Supply Chain Risk Mapping Growing Prominent during Coronavirus Pandemic
Companies in the U.S. metal fabrication market are focusing on catastrophe-preparedness due to the ongoing COVID-19 pandemic. Though situations are improving in China as factories are back up and running, stakeholders are witnessing a scarcity of truckers. As such, vaccine inoculation programs worldwide are anticipated to boost economic activities.
The drastic slowdown in business and manufacturing activities in automotive factories is affecting growth of companies in the U.S. metal fabrication market who are now mapping supply chain risks. They are taking cues from previous catastrophes such as the tsunami in 2011 in Japan, which largely disrupted its automotive industry. Inventory planning and collaborative discussions with clients & partners are among various other strategies that are helping companies to stay financially afloat amid the ongoing coronavirus outbreak.
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Upgrades in Competitive Intelligence, Low Cost Necessary for Building Credibility
The U.S. metal fabrication market is expected to surpass valuation of US$ 473.7 Bn by 2031. However, the need to competitive intelligence and reduce cost is growing rampant in the potentially fragmented market. Hence, Decision Resources - a leading manufacturing software solutions expert, is meeting customer demands with self-serve web portals and automated processes to ensure competitive intelligence and reduce costs. Companies in the U.S. metal fabrication market are taking cues from such companies to increase the availability of ERP (Enterprise Resource Planning) application features that help to efficiently manage supply chain and inventory with definable dimensions and attributes.
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CAD Software, Precision Metal Cutting Techniques Leveraging Manufacturing Activities
Due to the modernization of the metal manufacturing industry, CAD (Computer Aided Design) software have become customary in various end-use cases. This software helps to implement design specifications and optimize the product for further manufacturing processes. CAD software have leveraged the design stage of companies in the U.S. metal fabrication market, as changes can be made quickly. These software are being used to provide 3D (3 dimensional) models to clients, and are being used to link other computer programs to create an accurate and streamlined workflow.
In order to gain a competitive advantage over other manufacturers, stakeholders are mainly focusing on precision metal cutting services such as GF Laser, which uses the latest in CO2 and Fibre TRUMPF machines to cut a range of materials.
Modern Pop Culture Events Boost Demand for Sheet Metal Production Techniques
The ever-expanding automotive industry is creating stable revenue streams for companies in the U.S. metal fabrication market. It has been found that the sheet metal production technique is one of the most in-demand services in the automotive industry. Modern pop culture is shedding light on sheet metal production techniques, owing to events such as the Grand Prix and Hot Rods races that are helping to drive the use of sheet metal.
The rising demand for customized cars is translating into incremental opportunities for companies in the U.S. metal fabrication market. This arises with the need of cars that can withstand high-speed races.
Steel Building Construction Gains Popularity with Specialized Software, Metal Versatility
The burgeoning growth of the building & construction industry is grabbing the attention of stakeholder in the U.S. metal fabrication market. Forging, casting, cutting, and bending, among other processes, are expanding business streams for stakeholders. On the other hand, steel is gaining popularity in construction applications, owing to its versatility and durability. Builders and contractors are increasing efforts to gain a clear understanding of steel building construction techniques to specialize in various end-use cases.
Companies in the U.S. metal fabrication market are increasing their focus on arch buildings, single-span rigid frames, and multi-span rigid frames to expand their business in building & construction applications. Specialized software have become a recurring trend in metal manufacturing to create shop or building structure drawings and specify how to make every single component.
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The U.S. metal fabrication market is experiencing experts’ miscalculations about manufacturing performance and output during the coronavirus pandemic. Hence, companies are learning from their mistakes and taking efforts to understand the impact of manufacturing on the economy and its productivity in order to correctly measure inventory and supply chain risks. Customization is becoming a fast growing phenomenon in the automotive industry to accommodate modifications and settings as opposed to conventional fabrication techniques. However, ever-evolving customer demands and issues in the supply chain management are arising in the market. These challenges should be addressed with automation tools, project management techniques, and competitive intelligence through real-time data about changing customer demands to stay relevant in the market landscape.
U.S. Metal Fabrication Market: Overview
- According to Transparency Market Research’s latest research report on the metal fabrication market in the U.S. for the historical period of 2020 and the forecast period 2021 to 2031, rapid expansion of the manufacturing sector is a key factor that is expected to boost the metal fabrication market in the U.S. during the forecast period
- The metal fabrication market in the U.S. was valued at US$362.4 Bn in 2020 and is expected to cross US$ 473.7 Bn by 2031. In terms of raw material, the iron & steel segment constituted key share of the metal fabrication market in the U.S. in 2020. Growth of the segment in the metal fabrication market in the U.S. can be ascribed to its ease of availability and low cost.
Rise in Automation in Metal Fabrication: Key Driver of U.S. Metal Fabrication Market
- The automation technology is used to enhance outcomes in industrial steel fabrication. Its popularity has significantly risen as a solution to provide customers with high-quality, cost-friendly steel fabrication products on time.
- The automation technology has already been playing a role in the metal fabrication industry. Technological innovations have also enabled advancements in CNC machines as well as welding processes. These have helped improve precision and quality, and increase production volumes.
- Adoption of the automation technology can help in creating a virtuous cycle, whereby increased profitability generates revenue for additional capital investments
- Thus, rise in automation in metal fabrication is anticipated to drive the metal fabrication market in the U.S. during the forecast period
- Technological advancement in metal fabrication is also estimated to propel the metal fabrication market in the U.S. during the forecast period. Various ERP technologies and software are used in the metal fabrication industry. This makes data easily accessible and accelerates the decision-making process in the fabrication industry. Increase in usage of the computer-aided manufacturing (CAM) technology is helping the metal fabrication industry improve its operational efficiency and increase production.
High Application of Metal Fabrication in Construction Sector
- The construction industry in the U.S. has been expanding significantly due to the rise in public sector investments in non-residential buildings as well as non-residential structures. Furthermore, easing trade tensions and growth of the economy in the U.S. are key factors propelling investments in the construction sector in the country.
- Key segments of the construction industry include educational institutes, manufacturing plants, and highways & streets
- Fabricated structural steel is widely used as a raw material in the construction industry. Fabricated structural steel is commonly employed in the construction of industrial, commercial, and residential buildings.
- Demand for metal fabrication is linked with the demand for fabricated structural steel, as the metal fabrication process is used to create fabricated products by bending, cutting, and assembling processes
- Thus, expansion of the construction sector in the U.S. is anticipated to boost the demand for metal fabrication in the country during the forecast period
U.S. Metal Fabrication Market: Competition Landscape
- Detailed profiles of companies operating in the metal fabrication market in the U.S. have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the metal fabrication market in the U.S. are
- O’Neal Manufacturing Services
- BTD Manufacturing Inc.
- Kapco Metal Stamping
- Ballman Metals
- Schaumburg Specialties LLC
- Mayville Engineering Company, Inc.
- Watson Engineering Inc.
- Miro Manufacturing, Inc.
- Standard Iron & Wire Works Inc.
Metal Fabrication Market: Strategic Partnerships
- Prominent companies operating in the metal fabrication market in the U.S., such as Miro Manufacturing, Inc., Mayville Engineering Company, Inc., and O’Neal Manufacturing Services are focusing on expansion of production facilities and strategic partnerships to expand their global footprint. Key strategies in the metal fabrication market are highlighted below:
- In March 2021, Miro Manufacturing, Inc. acquired additional facilities of Waukesha to support its growth in metal stamping and fabrication industries. The expansion of manufacturing facilities is expected to strengthen its presence in metal fabrication market
- In December 2019, Miro Manufacturing, Inc. expanded its fabrication capabilities with the purchase of a CNC Press Brake, i.e. SafanDarley H-Brake Ultra. The machine is one of the most accurate, high-tonnage press brakes in southeastern Wisconsin, the U.S. It is employed to increase Miro Manufacturing, Inc.’s ability to provide complete fabrications from laser and waterjet cutting through forming and welding.
- In the U.S. metal fabrication market report, we have discussed individual strategies, followed by company profiles of providers of peaking power plants. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the metal fabrication market in the U.S.
U.S. Metal Fabrication Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the metal fabrication market in the U.S. to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the metal fabrication market in the U.S. to identify opportunistic for stakeholders. The report also provides insightful information about how the metal fabrication market in the U.S. would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about the different aspects of the metal fabrication market in the U.S., 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 metal fabrication market in the U.S. during the forecast period. It also includes key indicator assessment that highlight the growth prospects of the metal fabrication market in the U.S. and estimate statistics related to the market progress in terms of value (US$ Bn).
This study covers a detailed segmentation of the metal fabrication market in the U.S., along with key information and a competitive outlook. The report mentions company profiles of key players that are currently dominating the metal fabrication market in the U.S., wherein various development, expansion, and winning strategies practiced by these players have been presented in detail.
Key Questions Answered in TMR’s Report on U.S. Metal Fabrication Market
The report provides detailed information about the metal fabrication market in the U.S. on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the metal fabrication market so as to help them make successful strategies and make target-driven decisions.
- Which product segment of the metal fabrication market in the U.S. would emerge as a major revenue generator during the forecast period?
- Which raw material segment of the metal fabrication market in the U.S. would emerge as a major revenue generator during the forecast period?
- Which end-use industry segment of the metal fabrication market in the U.S. would emerge as a major revenue generator during the forecast period?
- How are key market players successfully earning revenue in the metal fabrication market in the U.S.?
- What would be the Y-o-Y growth trend of the metal fabrication market in the U.S. between 2020 and 2031?
- What are the winning imperatives of leading players operating in the metal fabrication market in the U.S.?
Research Methodology – Metal Fabrication Market
The research methodology adopted by analysts for compiling the report on the metal fabrication market in the U.S. 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 sources, analysts have offered riveting observations and authentic forecasts of the metal fabrication market in the U.S.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the metal fabrication market in the U.S.
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 metal fabrication market in the U.S.
U.S. Metal Fabrication Market – Segmentation
TMR’s research study assesses the metal fabrication market in the U.S. on the basis of product, raw material, and end-use industry. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the metal fabrication market in the U.S.