Metal Fabrication Market | Global Industry Analysis, Size, Share, Growth, Trends & Opportunity by Regions and Prominent Key Players : O’Neal Manufacturing Service, BTD Manufacturing Inc., Ironform Corporation, Mayville Engineering Comp. Inc., Defiance M

As the large amount of data is being generated everyday by companies all over the world, a new research study titled “Metal Fabrication Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2025” has been generated and recently added into the vast database of Market Research Reports Search Engine (MRRSE). The report is a result of in-depth analysis of global master data management market covering its past trends and estimating future prospects during assessment period 2016 to 2024.

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Metal fabrication is the process of forming metallic structures and assemblies from raw metal work pieces. This process is referred to as a value added service as it completely deforms the raw material and develops a completely new structure through the use of several procedures such as metal welding, machining, metal forming, metal cutting, and others. Metal fabrication workshops work on multiple value added services under a single roof, encompassing welding, cutting, machining, shearing, and others. Metal fabricators offer additional value to clients by providing complete services under one facility. Metal fabrication workshops are primarily contracted by original equipment manufacturers (OEMs), iron and steel manufacturers, building contractors, and value added resellers.

Various ERP technologies and software are used in the metal fabrication industry. This makes data easily accessible and accelerates the decision-making process. Increase in usage of computer aided manufacturing technologies is helping the metal fabrication industry improve operational efficiency and enhance production. These advancements in the technologies are anticipated to drive the metal fabrication market globally.

Advancement in robotics and automation tools boosts their application in the metal fabrication market. Currently, automation is used in the metal fabrication market to increase efficiency and lower labor costs. Increasing demand for automated manufacturing systems in the metal fabrication industry helps in making the manufacturing facilities safe as all the critical jobs such as welding and cutting are done by robots. Apart from this, automation tools such as laser saws make it easier for fabricators to manufacture precisely cut metal parts. Fabricated metals are used in various end-use industries such as automotive, oil & gas, construction, aerospace, agriculture, consumer products, medical devices, military, and defense. As end-use industries are diversified, effects of the cyclical nature of the metal fabrication industry are mitigated. These factors are anticipated to drive the metal fabrication market.

Finding skilled labor is becoming increasingly difficult as the industry is becoming technologically advanced. According to an OECD report, skill shortage is a rising problem across the globe. Countries such as Japan, India, Brazil, and the U.S. are facing severe skilled workforce shortages despite high unemployment rates. This is anticipated to hinder the expansion of the metal fabrication market in the near future. Rapid developments in additive manufacturing (3D printing) technologies are reducing the time taken to print an object. Additive manufacturing is a highly flexible manufacturing process with high scope of customization, which makes it easy for fabricators to design and manufacture complex parts easily. This type of manufacturing is not utilized on a large scale. However, additive manufacturing is anticipated to be commercialized in the near future, which is anticipated to change the dynamics of the metal fabrication market. Thus, lack of skilled labor and developments in the field of additive manufacturing are anticipated to restrain the expansion of the metal fabrication market in the near future.

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Demand for fabricated metals from OEMs has been fluctuating. This is in line with the demand for end-use products. Product manufacturing companies have been adopting new operational methods to minimize cost by shortening the production time and lowering inventory costs. Companies operating in the metal fabrication market are adopting new trends and business strategies to cater to the changing requirements of customers. Metal fabricator companies possess the opportunity to carry out operational management efficiently by using material requirements planning (MRP), Kanban (JIT), and optimized production technology (OPT) to cater to the changing demands of customers and remain competitive in the market. The metal fabrication market has been experiencing flat growth rate in Europe. On the other hand, the metal fabrication market is expected to expand at a rapid pace in emerging countries such as India, China, and Brazil in the near future. China and India are key countries of the metal industry. These countries provide lucrative opportunities for companies operating in the metal fabrication market.

Major players in the metal fabrication market have adopted expansion and mergers & acquisitions as their key strategies to expand their network and share their investments. In January2017, O’Neal Manufacturing Services merged four affiliates, Aerodyne Alloys, United Performance Metals, Plus Ten Stainless, and Vulcanium Metal International, to form a high-performance metal company, United Performance Metals. The acquisition helped the company achieve operational efficiency. Expending current facilities is likely to be the long term strategy of metal fabrication manufacturers. For example, In June 2016, high-precision Mitsubisihi laser cutting carbon dioxide equipment was ordered by Komaspec to cut metals having thickness of up to 16 mm. The newly added capability is anticipated to help the company meet the increase demand for metal fabrication products.

In terms of region, Asia Pacific and Europe are the key regions for the metal fabrication. North America and Europe hold a prominent share in the global metal fabrication market. Asia Pacific was recorded to be a rapidly expanding region of the metal fabrication market in 2016 owing to strong research and development activities in Japan, China, South Korea, and India. Construction and automotive industries are a focus segment in Asia, owing to high presence of construction and automotive companies in China and India. Japan is a key country of the market in Asia Pacific due to high R&D expenditure in the country.

Key players in the global Metal Fabrication market are O’Neal Manufacturing Service, BTD Manufacturing Inc., Ironform Corporation, Mayville Engineering Comp. Inc., Defiance Metal Products Inc., and others.

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