Global Biomass Boiler Market Industry Analysis, Trends and Forecast 2016 - 2024

The vast rise in investment in infrastructural development activities and the subsequent rise in opportunities for growth in the area of prefabricated construction is a key factor driving the market for metal fabrication, especially in developed countries across North America. In a recent market research report added to the repository of on Market Research Reports Search Engine (MRRSE), it has been noted that increasing global consumption of aluminum, recovery in non-residential investments, and the rising demand from the aerospace sector are also aiding the market’s expansion.

The report is titled “Metal Fabrication Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.” The report states that spurred by the aforementioned factors, the global metal fabrication market will exhibit a CAGR of 3.0% between 2016 and 2024. At this pace, the market, which stood at a CAGR of US$16.35 bn in 2015, is forecast to reach US$21.38 bn before 2014 ends.

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Presence of Highly Unorganized Sector Renders Vendor Landscape Highly Competitive

The presence of several large and smaller companies has rendered the vendor landscape of the global metal fabrication market highly fragmented. The market also features the presence of many unorganized players. As per reports, the cumulative share of the top six players in the overall market was less than 6% in 2015. These companies were Ironform Corporation, Mayville Engineering, O’Neal Manufacturing Services, Defiance Metal Products, BTD Manufacturing Inc., and Interplex Holdings.

The leading companies have been focusing on tie-ups with large OEMS, cost saving measures, and mergers and acquisitions to emerge dominant in the market. In addition, the companies are also aiming to achieve efficient production management and logistics to strengthen their position in the global metal fabrication market. Investment in extensive research and development activities has taken shape of a key strategies adopted by the companies.

Growth in Developed Economies Supported by Sophisticated Industrial Infrastructure

The increasing demand for iron and steel in the American and European automobile and construction industries has helped the metal fabrication market in these regions gain momentum. Developed nations in North America and Europe exhibit substantial spending on industrial projects. They have a sophisticated industrial infrastructure to their advantage, which is aiding the market’s trajectory in development nations. In emerging economies such as India, the market has centralized banking authorizes to its benefit. The monetary policies in emerging nations mostly favor the growth of the construction industry thus creating lucrative prospects for the metal fabrication market.

Emergence of 3D Metal Printing Process Poses Threat to Market

Despite witnessing positive opportunities, the market is facing stiff challenge from the rising popularity of 3D metal printing processes. 3D has emerged as a widely acclaimed technology for metal additive manufacturing. This poses significant threat to the market, restraining its trajectory to an extent. The three dimensional metal printing has already witnessed much success due to its extensive usage in automotive, aerospace, and marine sectors. The novel technology offers high quality adherence and ensures better precision machining operations. This could create major hindrance for the metal fabrication market, limiting its growth especially across developed markets.

Nonetheless, the prevalent opportunities in emerging economies and the rising technological advancements still hold promise for the market’s growth. Some of the leading companies operating in the global metal fabrication market are Watson Engineering Inc., O’Neal Manufacturing Service, Mayville Engineering Company Inc., Standard Iron & Wire Works Inc., Kapco Inc., Komaspec Pte Ltd., Interplex Holdings Pte. Ltd, Defiance Metal Products, and others.

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This release was published on openPR.