Global Sheet Metal Fabrication Services Market 2019-2023

The global sheet metal fabrication services market size will grow by USD 3.04 billion during 2019-2023. This market report provides a detailed analysis of the market by end-users (automotive industry, industrial machinery industry, electrical and electronics industry, aerospace and defense industry, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Da Ming International Holdings Ltd., Mayville Engineering Co. Inc., O’Neal Industries Inc., Otter Tail Corp., and Ryerson Holding Corp.

A few of the key findings from the sheet metal fabrication services market analysis report are summarized below

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Global Sheet Metal Fabrication Services Market Overview

The increasing demand for fabricated metal parts from major end-user industries is one of the primary factors that will drive the growth of the market. The automotive and aerospace and defense industries are the significant end-users of fabricated sheet metal. Investments in these industries across the world will boost the growth of the market in focus over the forecast period. The current focus on lean manufacturing and enhancing operational efficiency are increasing the demand for sheet metal forming process among OEMs.

Additionally, upcoming sheet metal fabrication services market trends such as the increasing adoption of cobots in the metal fabrication process will also contribute to the growth of the market. Cobots works in collaboration with humans. The rising shortage of labor can be addressed by using cobots in the metal fabricating industry. Cobots use specialized sensors and robot controllers. They are effective in reducing safety costs. They have in-built sensors to detect the presence of humans in proximity. To improve their operational efficiency and enhance product quality, there is an increasing number of metal fabrication shops are adopting cobots. Such factors will fuel the growth of the sheet metal fabrication services market, which will register over 3% CAGR during the forecast period.

Top Sheet Metal Fabrication Services Companies Covered in this Market Research Report

The market is highly fragmented. This report provides an analysis of the competitive landscape and offers information on the products offered by various companies. This will help clients in improving their market positions. The report also provides a detailed analysis of the upcoming sheet metal fabrication services market trends and challenges and how they influence market growth. This will aid companies in creating effective strategies to leverage the upcoming market growth opportunities.

The report offers a detailed analysis of a few leading companies, including:

• Da Ming International Holdings Ltd.
• Mayville Engineering Co. Inc.
• O’Neal Industries Inc.
• Otter Tail Corp.
• Ryerson Holding Corp.

Sheet Metal Fabrication Services Market Segmentation Based on End-users

• Automotive industry
• Industrial machinery industry
• Electrical and electronics industry
• Aerospace and defense industry
• Others

During 2018, the automotive industry accounted for the largest market share. The automotive industry is the primary end-user of metal fabrication services. However, the industrial machinery industry segment is expected to be the largest end-user to the market in 2023. The rising demand for products from the oil and gas, construction, mining, and chemical and petrochemical is contributing to the expansion of manufacturing units. As a result, the demand for fabricated metal parts is increasing to engineer industrial machinery and equipment such as valves, gaskets, and electrical machinery.

Sheet Metal Fabrication Services Market Segmentation Based on Geographic Region

• APAC
• Europe
• MEA
• North America
• South America

APAC held the largest market share in 2018. The region will register the fastest growth over the forecast period and maintain its dominance in 2023. The demand for fabricated sheet metal will be significant from China, Australia, Japan, India, and South Korea in the coming years. The growing construction, automotive, and aerospace and defense industries is contributing to the growth of the market in the region. Also, government initiatives to increase investments in manufacturing industries and favorable trade policies are increasing the demand for sheet metal fabrication services in APAC.

Key Highlights of the Sheet Metal Fabrication Services Market Forecast Report for the Period 2019-2023

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the sheet metal fabrication services market during the next five years
• Precise estimation of the global sheet metal fabrication services market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the sheet metal fabrication services industry across APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details of factors that will challenge the growth of sheet metal fabrication services companies

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