Metal Fabrication Market: Opportunity Analysis and Industry Forecast upto 2024

The global metal fabrication market is extremely fragmented and the vendor landscape comprises a large number of unorganized players. Transparency Market Research finds that the top six players in the global metal fabrication market collectively accounted for a share of less than 6% in 2015. These players, namely O’Neal Manufacturing Services, BTD Manufacturing Inc., Mayville Engineering, Defiance Metal Products, Ironform Corporation, and Interplex Holdings, have been focused on tie-ups with large OEMs, acquisitions and expansions, cost saving, efficient production management, and logistics to gain a greater share in the global metal fabrication market.

Investment in research and development activities is also a key growth strategy adopted by many companies, the author of the TMR study finds. For instance, O’Neal Manufacturing Services invested US$5 mn on equipment and machinery in May 2014. This facilitated the company in providing fabricated parts and components for Caterpillar Inc.

Obtain Report Details @
https://www.transparencymarketresearch.com/metal-fabrication-market.html

The opportunity in the global metal fabrication market was pegged at US$16.35 bn in 2015. This is forecast to be worth US$21.38 by 2024, expanding at a CAGR of 3.0% therein.

By service, metal welding accounted for the lead share in the global metal fabrication market with a share of just over 14% in 2015. However, machining services are anticipated to witness rapid growth in the coming years, registering a 4.1% CAGR from 2016 to 2024. Based on end use, the construction sector held the dominant share in the metal fabrication market in 2015 and is anticipated to retain its lead throughout the forecast period. The manufacturing industry, on the other hand, is projected to expand at a rate higher than any other end-use segment.

Download Table of Content @
https://www.transparencymarketresearch.com/report-toc/11564

Geographically, Asia Pacific is the leading market for metal fabrication and in 2015, accounted for just under 43% in terms of revenue. North America will register a 4.8% CAGR during the course of the forecast period, higher than any other regional segment.

“The rising demand for iron and steel by European and American construction and automobile industries has led to the rising significance of metal fabricators across these regions,” states the author of the study. Substantial spending on industrial projects, the development of industrial infrastructure, and interest rate cuts by centralized banking authorities of India have helped promote the demand for steel in the construction sector, thereby driving the demand for metal fabrication. There has also been continuous growth in global permanent modular construction (PMC) activities over the past few years and this is anticipated to drive the market for metal fabrication in the near future.

Request A Sample Of Report @
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11564

On the flip side, the growing popularity of 3D metal printing poses a major threat to the development of the metal fabrication market. “Three-dimensional metal printing has become a widely acclaimed technology for metal additive manufacturing,’ the lead analyst states. Today, 3D metal printing has gained extensive usage in the aerospace, automotive, and marine sectors, owing to its high quality adherence and high-precision machining operations. This adoption is being viewed as a hindrance to the trajectory of the metal fabrication market, specifically in developed economies.

This review is based on the findings of a TMR report titled “Metal Fabrication Market (By Service - Metal Welding, Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Rolling, Metal Folding, Metal Punching and Metal Stamping; By End Use Industry - Construction, Automotive, Manufacturing, Energy & Power, Electronics and Others; By Geography - North America, Europe, APAC, MEA, and Latin America) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.