Dublin, Aug. 08, 2022 (GLOBE NEWSWIRE) -- The "Sheet Metal Fabrication Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Sheet Metal Fabrication Services Market to Reach $17.2 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Sheet Metal Fabrication Services estimated at US$15.3 Billion in the year 2022, is projected to reach a revised size of US$17.2 Billion by 2026, growing at a CAGR of 2.6% over the analysis period.
Sheet metal fabrication refers to the subtractive processing method to cut sheet metal into parts. Growth in the global market is being driven by rapid urbanization in many developing regions, and a robust trend of R&D investments in several services sectors. Increasing demand for sheet metal fabrication from a wide range of major end users such as military & defense, aerospace, automotive, oil and gas, industrial machinery, medical devices, construction, agriculture, consumer products, and electronics is expected to drive growth.
Moreover, the current focus on enhancing operational efficiency and lean manufacturing is contributing to increased demand for the process of sheet metal forming among OEMs. Innovative prefabrication techniques adopted by sheet metal fabrication service providers to meet the growing demand are expected to further drive the growth. The increasing shortage of labor could be addressed by adopting cobots in metal fabrication processes. Therefore, increasing number of metal fabrication facilities are adopting cobots to enhance operational efficiency and improve product quality.
The U.S. Market is Estimated at $2.7 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026
The Sheet Metal Fabrication Services market in the U.S. is estimated at US$2.7 Billion in the year 2022. The country currently accounts for a 17.78% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 3.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.5% and 2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR while Rest of European market (as defined in the study) will reach US$6.2 Billion by the end of the analysis period.
Select Competitors:
- All Metals Fabricating, Inc.
- BTD Manufacturing, Inc.
- Classic Sheet Metal, Inc.
- Dynamic Aerospace and Defense Group (Hydram Engineering)
- Ironform Corporation
- Kapco Metal Stamping
- Marlin Steel Wire Products LLC
- Mayville Engineering Company, Inc.
- Metcam, Inc.
- Moreng Metal Products, Inc.
- Noble Industries, Inc.
- O'Neal Manufacturing Services.
- Osh Cut LLC
- Ryerson Holding Corporation
- Standard Iron & Wire Works, Inc.
- The Metalworking Group
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Demand for Fabricated Metal Parts from Varied End-Use Sectors Sets the Growth Trend in Sheet Metal Fabrication Services Market
- Automation of Sheet Metal Fabrication Services Transforms Industry Operations
- Industry 4.0: The Future of Sheet Metal Fabrication Services
- Smart Factory Solutions to Help Sheet Metal Fabrication Companies Overcome Pandemic-Triggered Challenges
- Demand for Automobiles & Increase in Automaking Operations to Drive Market Gains
- Shift towards Electric Vehicles: Tremendous Growth in Store
- Role of Sheet Metal Fabrication in Refurbishing Old Automobiles
- Industrial Machinery & Equipment Industry to Boost Market Outlook
- COVID-19 Outbreak Induces Weakness into Manufacturing & Machinery End-Use Industry
- Construction Industry Dynamics to Influence Market Prospects
- Rise in Demand for Electronics Devices & Components from Residential & Industrial Sectors to Fuel Market Growth
- Sheet Metal Fabrication in Telecommunication Sector
- Aerospace & Defense Industry Presents Long-term Opportunities for Sheet Metal Fabrication Services
- Trends Impacting the Aerospace Sheet Metal Fabrication
- Increased Aerospace Manufacturing Will Spur Parallel Increase in Demand for Metal Fabrication Services
- As an Essential Aspect of Medical Device Innovation, Sheet Metal Fabrication to Transform Medical Sector
- Trends Poised to Spearhead Growth in the Sheet Metal Fabrication Services Industry
- Rising Significance of Additive Manufacturing for Manufacturing Industry Spurs Growth Opportunities
- Advanced Technologies Transform Sheet Metal Fabrication Services
- 3D CAD Improves Design Quality: Becomes Vital for Metal Fabrication Industry
- Laser Technology Aids Automation Trend in Sheet Metal Fabrication
- Use of Laser Machines and Communications Systems on the Rise
- Nearshoring Emerges as a Notable Trend in Sheet Metal Fabrication Market
- Increasing Adoption of Cobots in Metal Fabrication Process to Benefit Market Growth
- Issues Confronting Custom Sheet Metal Fabrication
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/i7srx9
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