Metal Fabrication Market Future Adoption Overview 2031

Metal Fabrication Market Outlook 2031
• The global metal fabrication market was valued at US$ 20 Bn in 2022
• It is estimated to grow at a CAGR of 3.3% from 2022 to 2031
• The global metal fabrication market is expected to reach US$ 27.74 Bn by the end of 2031

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Analysts' Viewpoint on Metal Fabrication Market Scenario

Increase in demand for automated manufacturing systems across the globe is driving the sheet metal fabrication market size. Adoption of robotics, computer-aided engineering, and ERP software helps in making manufacturing facilities safe, enhances productivity, and reduces the labor cost. Metals are versatile materials that are widely used in various industries. Metal fabrication workshops offer various value-added services under a single roof such as welding, cutting, machining, and shearing. OEMs, iron & steel manufacturers, building contractors, and value-added resellers rely on metal fabrication workshops to create high-quality and long-lasting products. Metal fabrication also helps reduce material and labor costs. Companies operating in the metal fabrication market are expanding their prefabricated construction products portfolios in order to enhance their revenue streams.

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Global Metal Fabrication Market Introduction
Metal fabrication is the process of manufacturing metal structures or products from raw materials. The process includes metal cutting, burning, welding, machining, forming, and assembly. Metal fabrication plays an important role in manufacturing a wide range of products such as paper clips, automotive parts, and steel beams. Facilities that specialize in metal fabrication are often called fabrication shops, and the products of said facilities are referred to as fabrications. Metal fabrication jobs usually consist of three phases: Phase I comprises designing, where drawings are created w.r.t. intended measurements; Phase II fabrication involves cutting, bending, and/or assembling; and in Phase III, the end product or structure is put together (either partially or fully).

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Analysis of Key Players in Global Metal Fabrication Market
The global metal fabrication market comprises several small and large-scale manufacturers and suppliers that control majority of the share. Key players are investing significantly in R&D activities to optimize their manufacturing process and operating machinery. Expansion of product portfolios and mergers & acquisitions are key strategies adopted by players. Mayville Engineering Comp. Inc., O'Neal Manufacturing Services, BTD Manufacturing Inc., Matcor-Matsu Group Inc., Kaman Corporation, Watson Engineering, Inc., Kapco Metal Stamping, Standard Iron & Wire Works Inc., Ironform Corporation, LancerFab Tech Pvt. Ltd., Interplex Holdings Pte. Ltd., PA International, and Komaspec are prominent entities operating in the market.

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