Press release
Metal Working Market Report 2024: Strategies And Recent Developments | Atlas Copco Group, BTD Manufacturing Inc., Colfax Corporation, DMG Mori Co Ltd., HMT Limited
Metal Working Market Characteristics
The Business Research Company offers in-depth market insights through Metal Working Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The metal working market size has grown steadily in recent years. It will grow from $11.03 billion in 2023 to $11.53 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to materials innovation and development, automation and cnc integration, globalization and market expansion, demand for specialized components, shifts in manufacturing practices..
The metal working market size is expected to see steady growth in the next few years. It will grow to $13.46 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to adoption of additive manufacturing, global market expansion, focus on sustainable practices, advancements in smart manufacturing, rise in demand for customization.. Major trends in the forecast period include industry 4.0 integration, advanced materials development, additive manufacturing adoption, sustainability and green practices, precision machining and cnc technologies..
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Market Segmentation:
The metal working market covered in this report is segmented -
1) By Type: Cutting, Forming, Welding, Stamping, Punching, Rolling, Other Types
2) By Segment: Structural Steel Fabrication, Architectural Aluminum Fabrication, Architectural Steel Fabrication, Pre-Fabricated Buildings, Pre-Engineered Buildings, Other Segments
3) By Application: Oil And Gas, Mining, Energy And Utilities, Water, Industrial And Logistics, Building Construction, Other Applications
Major Driver - Role Of Metalworking In Construction And Automobile Sectors
The growth of manufacturing industries is expected to propel the growth of the metalworking market going forward. Manufacturing industries are any industries that produce goods using manual labor or machinery. It manages industrial equipment installation and repair, in addition to contracting work out to third parties. The importance of the metalworking industry stems from the fact that it provides the machinery and materials required shape and size for economical operations, where countless uses are there under construction and automobile-related metalworking. For Instance, in April 2023, according to the US Bureau of Labor Statistics, a US-based federal bureau, the number of establishments in fabricated metal product manufacturing in private industry increased from 59265 establishments in the 4th quarter of 2021 to 60032 establishments in the 3rd quarter of 2022. Therefore, the growth of manufacturing industries is driving the growth of metalworking.
Competitive Landscape:
Major companies operating in the metal working market report are Atlas Copco Group, BTD Manufacturing Inc., Colfax Corporation, DMG Mori Co Ltd., HMT Limited, Robert Bosch GmbH, Komaspect Pte Ltd., Standard Iron & Wire Works Inc., Sandvik AB, Trumpf GmbH + Co KG, Matcor Matsu Group Inc., AMADA Group, Qatar National Aluminum Panel Co, Gulf Steel & Engineering, CLIC Qatar Trading Company WLL, Valmont Industries Inc., Mayville Engineering Company Inc., PMF Industries Inc., Monti Inc., Nucor Corporation, Freeport-McMoRan Inc., United States Steel Corporation, Alcoa Corporation, Steel Dynamics Inc., Reliance Steel & Aluminum Co, O'Neal Manufacturing Services, Ironform Corporation, United Steel Inc., Tenere Inc., Robinson Metal Inc., Morton Industries LLC, Metalcraft of Mayville Inc., The Timken Company, The Bradbury Co Inc.
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Top Trend - Metalworking Advancements With Launch Of State-Of-The-Art Metal Cutting Inserts Manufacturing Facility
Expansion of advance manufacturing facility is a key trend gaining popularity in the metalworking market. Major market players are concentrating their efforts on establishing manufacturing facilities that is utilized extensively in the metal and steel industry, automotive industry, and aerospace business. For Instance, in November 2022, Kennametal Limited, a US-based manufacturer and distributor of tools and solutions to metalworking, mining, and oil industries, launched new Metal Cutting inserts manufacturing facility. The new state-of-the-art facility consolidates inserts manufacturing operations with intelligent manufacturing systems for improved quality and consistency. The facility helps to support growing demand from the Asia-Pacific market.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Metal Working Market Characteristics
3. Metal Working Market Trends And Strategies
4. Metal Working Market - Macro Economic Scenario
5. Metal Working Market Size And Growth
…..
27. Metal Working Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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