Dublin, March 08, 2023 (GLOBE NEWSWIRE) -- The "Sheet Metal Fabrication Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Sheet Metal Fabrication Services Market to Reach $19.6 Billion by 2030
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$19.6 Billion by 2030, growing at a CAGR of 3.1% over the analysis period 2022-2030.
Steel, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$8.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Aluminum segment is readjusted to a revised 2.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 4% CAGR
The Sheet Metal Fabrication Services market in the U.S. is estimated at US$2.7 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7.1 Billion by the year 2030 trailing a CAGR of 4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.1 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 597 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $15.3 Billion |
| Forecasted Market Value (USD) by 2030 | $19.6 Billion |
| Compound Annual Growth Rate | 3.1% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- Manufacturing Activity Dynamics to Impact Market Growth
- Pandemic Significantly Disrupts the Metalworking Industry
- Significant Impact on the Metal Fabrication Supply Chain
- Focus on Automation and Additive Manufacturing Increases in Metal Fabrication Industry
- Fabricators Scale up Operations and Increase Investments to Tap Post-Covid Opportunities
- An Introduction to Sheet Metal Fabrication Services
- Standard Sizes of Sheet Metal
- Cold-Rolled vs Hot-Rolled Sheet metal
- Sheet Metal Fabrication Processes-An Overview
- Global Market Prospects & Outlook
- Bend Sheet: The Leading Segment by Form
- Steel Represents the Most Widely Used Material for Sheet Metal Fabrication
- Automotive and Industrial Machinery: The Major End-Use Segments
- Regional Analysis
- Recent Market Activity
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
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
- Major Industry 4.0 Technologies
- Smart Factory Solutions to Help Sheet Metal Fabrication Companies Overcome Pandemic-Triggered Challenges
- Demand for Automobiles & Increase in Automaking Operations to Drive Market Gains
- Car Production YoY % Growth in 2020 Across Major Regional Markets
- Shift towards Electric Vehicles: Tremendous Growth in Store
- Global EV Sales (In Million Units) by Region for the Years 2019, 2025 & 2030
- 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
- COVID-19 Outbreaks Dents Prospects in Aviation Industry
- Increased Aerospace Manufacturing Will Spur Parallel Increase in Demand for Metal Fabrication Services Chemicals: Global Fleet of Commercial Aircraft in 2036 by Region (in Units)
- 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
FOCUS ON SELECT PLAYERS (Total 153 Featured)
- 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
For more information about this report visit https://www.researchandmarkets.com/r/7qbaot
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