2023 Metal Products Market Report: Market Size, Growth, Key Trends And Industry Report 2032 | Stanley Black & Decker, Inc, Ball Corporation, Techtronic Industries Co. Ltd, Illinois Tool Works Inc, Schaeffler Technologies AG & Co KG

As per The Business Research Company's Metal Products Opportunities And Strategies Market Report 2023, The global metal products market size reached a value of nearly $2,365.9 million in 2021, having increased at a compound annual growth rate (CAGR) of 3.9% since 2016. The market is expected to grow from $2,365.9 million in 2021 to $3,543.6 million in 2026 at a rate of 8.4%. The global metal products market size is then expected to grow at a CAGR of 7.2% from 2026 and reach $5,010.3 million in 2031.  

Many metal products companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG), 1.2 million industrial robots are expected to be deployed by 2025, thus indicating a rise in automation and robotics technology adoption to improve productivity and reduce production costs. According to a KPMG (Klynveld Peat Marwick Goerdeler is a global professional services network) report, 16% of executives of global metals companies have already invested in robotics for metal manufacturing, 31% of executives have set plans to possibly invest in robotics for new technology and opportunities, and 42% are willing to invest on robotics in the near future. Additionally, the report states, 63% of the executives of metal manufacturing companies are considering investing in automation. Examples of companies offering industrial robots to metals companies include FANUC, KUKA, ABB, and Motoman. Therefore, the improved plant efficiency will expect to upsurge the metal products market growth  

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Metal manufacturing companies are employing smart manufacturing by implementing IoT. Internet of Things refers to a system of interrelated computing devices that share data over the internet. IoT technology offers benefits such as increased asset uptime, efficient predictive maintenance and faster processing and delivery time. IoT is used in the metal products manufacturing to automate inspections, boost product quality, and dramatically reduce defects. For example, JFE Steel, a Japanese steel manufacturer, announced a move to standardize its core platform across all factories, using Internet of Things (IoT) technology to connect facilities and improve efficiency. The company will spend around 70 billion yen ($652 million) by 2022 to consolidate its computer systems.

The top opportunities in the metal products market segmented by type will arise in the architectural and structural metals segment, which will gain $249.7 million of global annual sales by 2026. The top opportunities in the forged and stamped goods market will arise in the metal crown, closure, and other metal stamped goods segment, which will gain $45.29 million of global annual sales by 2026. The top opportunities in the cutlery and hand tools market will arise in the saw blade and hand tool segment, which will gain $48.35 million of global annual sales by 2026. 

Metal Products Market Segmentation:

The Metal Products market is segmented by type, by metal type and by end-user.

By Type -
The metal products is segmented by type into:
a) Forged And Stamped Goods
b) Cutlery And Hand Tools
c) Architectural And Structural Metals
d) Boiler

By Metal Type -
The metal products market is segmented by metal type into
a) Iron Ore
b) Copper
c) Other Metal Types
d) Zinc

By End-User -
The metal products market is segmented by end-user into
a) Construction
b) Manufacturing
c) Others

Major players in the Metal Products market include Stanley Black & Decker, Inc, Ball Corporation, Techtronic Industries Co. Ltd, Illinois Tool Works Inc, Schaeffler Technologies AG & Co KG.

The regions covered in the global Metal Products market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The latest report from The Business Research Company, 'Global Metal Products Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Metal Products Market Report Table Of Content

1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
……

25. Key Mergers and Acquisitions
26. Market Background: Metal And Mineral Market
27. Opportunities And Strategies
28. Metal Products Market, Conclusions And Recommendations
29. Appendix

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