Global Metal Fabrication Market Evaluation Targets Advancement Anticipated until 2025

Posted on 2018-05-17 by Mark Hub in Industrial // 0 Comments

Albany, USA, 2018-May-17 — /EPR Network/ —A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Metal Fabrication Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025”which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that the sector for Metal Fabrication Market would rise at a positive CAGR during the period 2016-2025.

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Metal fabrication is the process of forming metallic structures and assemblies from raw metal work pieces. This process is referred to as a value added service as it completely deforms the raw material and develops a completely new structure through the use of several procedures such as metal welding, machining, metal forming, metal cutting, and others. Metal fabrication workshops work on multiple value added services under a single roof, encompassing welding, cutting, machining, shearing, and others. Metal fabricators offer additional value to clients by providing complete services under one facility. Metal fabrication workshops are primarily contracted by original equipment manufacturers (OEMs), iron and steel manufacturers, building contractors, and value added resellers.

Advancement in Technological Tools in Metal Fabrication is Likely to Drive the Market

Various ERP technologies and software are used in the metal fabrication industry. This makes data easily accessible and accelerates the decision-making process. Increase in usage of computer aided manufacturing technologies is helping the metal fabrication industry improve operational efficiency and enhance production. These advancements in the technologies are anticipated to drive the metal fabrication market globally.

Automation in Metal Fabrication Industry and Diversified End-use Industries Expected to Drive the Metal Fabrication Market

Advancement in robotics and automation tools boosts their application in the metal fabrication market. Currently, automation is used in the metal fabrication market to increase efficiency and lower labor costs. Increasing demand for automated manufacturing systems in the metal fabrication industry helps in making the manufacturing facilities safe as all the critical jobs such as welding and cutting are done by robots. Apart from this, automation tools such as laser saws make it easier for fabricators to manufacture precisely cut metal parts. Fabricated metals are used in various end-use industries such as automotive, oil & gas, construction, aerospace, agriculture, consumer products, medical devices, military, and defense. As end-use industries are diversified, effects of the cyclical nature of the metal fabrication industry are mitigated. These factors are anticipated to drive the metal fabrication market.

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Lack of Skilled Labor and Developments in Additive Manufacturing Technologies to Hinder the Expansion of the Metal Fabrication Market

Finding skilled labor is becoming increasingly difficult as the industry is becoming technologically advanced. According to an OECD report, skill shortage is a rising problem across the globe. Countries such as Japan, India, Brazil, and the U.S. are facing severe skilled workforce shortages despite high unemployment rates. This is anticipated to hinder the expansion of the metal fabrication market in the near future. Rapid developments in additive manufacturing (3D printing) technologies are reducing the time taken to print an object. Additive manufacturing is a highly flexible manufacturing process with high scope of customization, which makes it easy for fabricators to design and manufacture complex parts easily. 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 anticipated to change the dynamics of the metal fabrication market. Thus, lack of skilled labor and developments in the field of additive manufacturing are anticipated to restrain the expansion of the metal fabrication market in the near future.

Asia Pacific Held a Major Share of More Than 40% of Global Metal Fabrication Market in 2017

In terms of region, Asia Pacific and Europe are the key regions for the metal fabrication. North America and Europe hold a prominent share in the global metal fabrication market. Asia Pacific was recorded to be a rapidly expanding region of the metal fabrication market in 2016 owing to strong research and development activities in Japan, China, South Korea, and India. Construction and automotive industries are a focus segment in Asia, owing to high presence of construction and automotive companies in China and India. Japan is a key country of the market in Asia Pacific due to high R&D expenditure in the country.

Global Metal Fabrication Market Fragmented into Small to Medium Size Players

Key players in the global Metal Fabrication market are O’Neal Manufacturing Service, BTD Manufacturing Inc., Ironform Corporation, Mayville Engineering Comp. Inc., Defiance Metal Products Inc., and others.

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