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Sheet Metal Fabrication Services Market Growth Opportunities Report 2024
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According to Transparency Market Research (TMR), the global sheet metal fabrication services market is expected to exhibit a slow 1.4% CAGR from 2017 to 2025.
Steel Likely to Lead Demand from Global Sheet Metal Fabrication Services Market
The global sheet metal fabrication services market is divided by metal type into steel, aluminum, and others. Of these, steel is likely to retain its overwhelming dominance in the sheet metal fabrication market in the coming years thanks to the proliferation of opportunities for sheet metal fabrication services market players in the construction industry. The construction industry has benefited immensely from the rapid urbanization in developing regions, dragging along with it several ancillary industries such as the sheet metal fabrications services market.
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Aluminum is also likely to contribute significantly to the global sheet metal fabrication services market in the coming years due to its rising demand in the aerospace and automotive sectors. Aluminum is likely to account for close to 40% of the global sheet metal fabrication services market by the end of the 2017-2025 forecast period. The light weight of aluminum in comparison to steel has made it a material of choice in the automotive sector, where lightweight design has become vital due to the increasing stringency of environmental regulations. Aluminum is also a regular in the aerospace industry, as it provides an excellent strength-to-weight ratio and is thus ideal for use in modern lightweight aircraft.
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Regionally, North America and Europe are likely to collectively account for the bulk of the global sheet metal fabrication services market in the coming years. The strong presence of global aviation giants in these regions is a key reason for the dominance of these regions, as the aviation sector is likely to be vital for the global sheet metal fabrication services market in the coming years. Nevertheless, Asia Pacific and the Middle East are likely to become increasingly important to the global sheet metal fabrication services market in the coming years due to the rapid economic growth displayed by a number of countries in these regions.
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About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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