Pune India, Jan. 21, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the metal fabrication market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the metal fabrication market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the type, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global metal fabrication market Matcor-Matsu Group, DMG MORI, Mazak Corporation, N.W. Metal Fabricators, Inc., O'Neal Manufacturing Services, STANDARD IRON and WIRE WORKS, Inc., BTD Manufacturing, Komaspec, TRUMPF, WeMFG, Mayville Engineering Company, Inc., PA International, Watson Engineering, Inc., Aleris Corporation, LancerFab Tech Pvt. Ltd., Kapco Metal Stamping, R5 Metal Fabricators, Inc. among others. To achieve a substantial market share in the worldwide metal fabrication market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Metal fabrication market growth is being driven by the increasing demand for metal fabrication across various industries, including automotive, aerospace and defence, and manufacturing. The industry of element fabrication will also continue to see growth owing to the growing need for preprogrammed production practices, as well as the improvement of the supply chain through the implementation of various advanced solutions. In construction projects, prefabricated structures speed up completion. Steel beams, ladders, and trusses are used in many construction projects because it is recyclable and cost-effective. Engineers, designers, and contractors prefer steel for its cost-effectiveness, flexibility, and durability. The market is growing as a result of rising demand from various end users, but there are some factors which are hampering the growth of the market such as the high cost of metal fabrication and the lack of trained professionals. A fluctuating demand for fabricated metals has been observed among original equipment manufacturers (OEMs), which is related to demand for end-use products. As a result of shortening production times and lowering inventory costs, product manufacturing companies have adopted new operational methods to minimize costs.
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Scope of Metal Fabrication Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Matcor-Matsu Group, DMG MORI, Mazak Corporation, N.W. Metal Fabricators, Inc., O'Neal Manufacturing Services, STANDARD IRON and WIRE WORKS, Inc., BTD Manufacturing, Komaspec, TRUMPF, WeMFG, Mayville Engineering Company, Inc., PA International, Watson Engineering, Inc., Aleris Corporation, LancerFab Tech Pvt. Ltd., Kapco Metal Stamping, R5 Metal Fabricators, Inc. among others |
Segmentation Analysis
Cutting is expected to be the fastest-growing segment in 2022.
The type segment includes welding, cutting and machining. The cutting segment is expected to witness the highest growth rate during the forecast period. Metal-cutting equipment accounted for the highest revenue share in 2017 and is expected to continue to grow over the forecast period, due to increasing demand from end-use industries like automotive. Additionally, the metal fabrication equipment market is predicted to be boosted by the ever-growing industrial sector in developing countries.
Automotive is expected to be the fastest-growing segment in 2022.
The application segment includes automotive, construction, aerospace & defence, electronics and others. The automotive segment is expected to witness the highest growth rate during the forecast period. Automotive manufacturing, with its continuously evolving designs and material combinations, is one of the largest demand generators in the world. Increasing technological advancements and ease of operation have led to an increase in the demand for this equipment across many industries. The manufacture of mechanical applications is another major vertical, where extensive use is prevalent.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the metal fabrication market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. A number of companies are also innovating metal fabrication equipment design and capabilities to support manufacturers in achieving their manufacturing objectives. As a result, many metal manufacturing companies are using metal fabrication equipment to match their ideal mass production and meet the ever-increasing demand for metal as raw material for various industries, which is propelling the growth of the regional market.
Country Analysis
- Germany
Germany's metal fabrication market size was valued at USD 1.55 billion in 2021 and is expected to reach USD 2.04 billion by 2029, at a CAGR of 3.5% from 2023 to 2030.
Metal fabrication equipment market growth over the forecast period is estimated to be fueled by factors such as the ever-expanding metal and manufacturing industries, the automobile and aviation industries, and increasing R&D investments.
- China
China's metal fabrication market size was valued at USD 2.02 billion in 2021 and is expected to reach USD 2.7 billion by 2029, at a CAGR of 3.8% from 2023 to 2030.
Due to the high level of metal cutting and the related equipment used in various fabrication procedures, the Chinese economy is driven by strong growth in the industrial machinery, transportation equipment, and electrical and electronic industries, propelling the growth of the market.
- India
India's metal fabrication market size was valued at USD 1.56 billion in 2021 and is expected to reach USD 2.08 billion by 2029, at a CAGR of 3.7% from 2023 to 2030.
Indian manufacturing is anticipated to see significant growth due to the growing demand for goods and services across multiple sectors in India as well as investments by global manufacturing companies to diversify their production with low-cost facilities.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand from the automobile sector, propelling the growth of the market across the countries.
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