Global Metal Fabrication Market, Size, Share & Trends Analysis Report By Service (Metal Welding, Metal Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Folding, Metal Rolling, Metal Stamping, and Metal Punching), Material (Steel, Aluminum, and Others), End-Users (Construction, Automotive, Aerospace, Manufacturing, Energy and Power, Electronics, and Others), and By Region and Forecast from 2022-2027
Report ID : IR1001481 | Industries : Chemicals & Materials | Published On :June 2024 | Page Count : 234
Global Metal Fabrication Market, Size, Share & Trends Analysis Report By Service (Metal Welding, Metal Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Folding, Metal Rolling, Metal Stamping, and Metal Punching), Material (Steel, Aluminum, and Others), End-Users (Construction, Automotive, Aerospace, Manufacturing, Energy and Power, Electronics, and Others), and By Region and Forecast from 2022-2027
Global Metal Fabrication Market
Global Metal Fabrication Market was valued at USD 21.7 billion in 2021 which is expected to reach USD 59.0 billion by 2027, at a CAGR of 18.14 % from 2022-2027.
Metal fabrication refers to the process of creating metal assemblages and structures from raw metalwork components. It fully alters the raw material and builds a new structure using a number of methods, including metal welding, metal machining, metal shaping, and metal cutting. This is regarded as a value-added service. In addition to welding, cutting, machining, and shearing, metal fabrication facilities can offer a number of value-added services. Metal fabricators provide value for their clients by offering a comprehensive range of services in one location.
Market Driver
The market for metal fabrication is anticipated to increase as a result of the rising demand for automated manufacturing techniques. In order to increase productivity, reduce labour expenses, and create a safer workplace, industrial facilities use robotics, ERP software, and computer-aided engineering. These elements are anticipated to cause the global market for metal fabrication to expand more quickly. The increasing global population is the main factor driving energy use and demand. Rapid industrialization is predicted to increase the demand for fabrication equipment. Technical advancements and efforts to create specialised equipment are predicted to create economic opportunities for manufacturers in the near future.
Market Restraint
The high cost of raw materials and developments in additive manufacturing technologies are anticipated to hinder market growth during the forecast period. Furthermore, the lack of trained people is one of the major factors hampering the global metal fabrication market growth.
COVID-19 Impact
The present coronavirus outbreak had a negative impact on the metal production business. Government-imposed restrictions on import and export, social distance standards, and a myriad of rules intended to avoid the spread of disease have seriously affected manufacturing operations and halted cross-border supply chains for raw materials, which has damaged the market. As a result, the market experienced a significant financial setback. The aforementioned variables will take into account the market's revenue development during the projection period.
Market Segmentation
The global Metal Fabrication market is segmented into Services such as Metal Welding, Metal Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Folding, Metal Rolling, Metal Stamping, and Metal Punching. Furthermore, the market is divided into Materials such as Steel, Aluminum, and Others. The market is segmented into End-Users such as Construction, Automotive, Aerospace, Manufacturing, Energy and Power, Electronics, and Others.
Regional Analysis
North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa are the five geographic segments that make up the global metal fabrication market. Asia Pacific is expected to occupy the majority of the market share. The area dominates the manufacturing industry in terms of demand, along with the demand for machinery for metal fabrication, thanks to developing economies like India, China, and Indonesia among others, along with industrialized nations like Japan and South Korea. The Indian manufacturing sector is anticipated to be driven by the country's growing demand for goods and services across a variety of industries, as well as the fact that international manufacturing firms concentrate on diversifying their production by establishing low-cost facilities in nations like China and India. This will further boost the metal fabrication market growth.
Key Development
In July 2022, Orders of Rs 688 crores (USD 90 million) have been placed with The Pennar Group, a top supplier of value-added engineering products and solutions, across its many business verticals, including railways, tubes, steel, and ICD. Siemens, Annora Pharma, Zim Labs, S. R. Ashok & Associates, V. K. Udyog Pvt. Ltd., Anthe Pharma, Tycon Infra, Expon Polymers, and TPL First Solar have all placed orders with the PEB vertical. Orders have been placed with the Railway vertical by Integral Coach Factory, TI India, Wabtec, Oriental, Metlord, and IGR.
In March 2022, ISGEC Heavy Engineering has been given a sizable order for cement waste heat recovery boilers. A 3.8 MTPA integrated cement plant with a clinker capacity was ordered by Shree Cement, one of the top cement producers in India.
Key Players
This research describes a number of key players, including Amada Corporation, TRUMPF, Bystronic Laser AG, enoptik AG, IPG Photonics, Jet Edge, Inc.
Market Taxonomy
By Service
• Metal Welding
• Metal Machining
• Metal Forming
• Metal Shearing
• Metal Cutting
• Metal Folding
• Metal Rolling
• Metal Stamping
• Metal Punching
By Material
• Steel
• Aluminum
• Others
By End-Users
• Construction
• Automotive
• Aerospace
• Manufacturing
• Energy and Power
• Electronics
• Others
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Metal Fabrication Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Metal Fabrication Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Metal Fabrication Market, By Service
5.1 Y-o-Y Growth Comparison, By Service
5.2 Global Metal Fabrication Market Share Analysis, By Service
5.3 Global Metal Fabrication Market Size and Forecast, By Service
5.3.1 Metal Welding
5.3.2. Metal Machining
5.3.3. Metal Forming
5.3.4. Metal Shearing
5.3.5. Metal Cutting
5.3.6. Metal Folding
5.3.7. Metal Rolling
5.3.8. Metal Stamping
5.3.9. Metal Punching
6 Global Metal Fabrication Market, By Material
6.1 Y-o-Y Growth Comparison, By Material
6.2 Global Metal Fabrication Market Share Analysis, By Material
6.3 Global Metal Fabrication Market Size and Forecast, By Material
6.3.1 Steel
6.3.2 Aluminum
6.3.3 Others
7 Global Metal Fabrication Market, By End-Users
7.1 Y-o-Y Growth Comparison, By End-Users
7.2 Global Metal Fabrication Market Share Analysis, By End-Users
7.3 Global Metal Fabrication Market Size and Forecast, By End-Users
7.3.1 Construction
7.3.2. Automotive
7.3.3. Aerospace
7.3.4. Manufacturing
7.3.5. Energy and Power
7.3.6. Electronics
7.3.7. Others
8 Global Metal Fabrication Market, By Region
8.1 Global Metal Fabrication Market Share Analysis, By Region
8.2 Global Metal Fabrication Market Share Analysis, By Region
8.3 Global Metal Fabrication Market Size and Forecast, By Region
9 North America Metal Fabrication Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Metal Fabrication Market Share Analysis, By Service
9.3 North America Metal Fabrication Market Size and Forecast, By Material
9.4 North America Metal Fabrication Market Size and Forecast, By End-Users
9.5 North America Metal Fabrication Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Metal Fabrication Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Metal Fabrication Market Share Analysis, By Service
10.3 Europe Metal Fabrication Market Size and Forecast, By Material
10.4 Europe Metal Fabrication Market Size and Forecast, By End-Users
10.5 Europe Metal Fabrication Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.54. Rest of Europe
11 Asia Pacific Metal Fabrication Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Metal Fabrication Market Share Analysis, By Service
11.3 Asia Pacific Metal Fabrication Market Size and Forecast, By Material
11.4 Asia Pacific Metal Fabrication Market Size and Forecast, By End-Users
11.5 Asia Pacific Metal Fabrication Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Metal Fabrication Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Metal Fabrication Market Share Analysis, By Service
12.3 Latin America Metal Fabrication Market Size and Forecast, By Material
12.4 Latin America Metal Fabrication Market Size and Forecast, By End-Users
12.5 Latin America Metal Fabrication Market Size and Forecast, Country
13 Middle East Metal Fabrication Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Metal Fabrication Market Share Analysis, By Service
13.3 Middle East Metal Fabrication Market Size and Forecast, By Material
13.4 Middle East Metal Fabrication Market Size and Forecast, By End-Users
13.5 Middle East Metal Fabrication Market Size and Forecast, By Country
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Amada Corporation
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. TRUMPF
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Bystronic Laser AG
15.3.1 Overvie
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 enoptik AG
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 IPG Photonics
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Jet Edge, Inc.
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies