Pune, India, May 10, 2022 (GLOBE NEWSWIRE) -- The global metal fabrication service market size is set to gain momentum considering remarkable shift from manual fabrication services to automated fabrication. In its latest upcoming report titled, “Metal Fabrication Service Market Size, Share & Industry Analysis, By Service Type (Punching, Stamping, Forming, Welding, Cutting, Polishing, Others), By Material (Steel, Aluminum, Other), By End-User Industry (Oil and Gas, Construction, Aerospace, Marine, Automotive, Military, Others) and Regional Forecast, 2019-2026,” Fortune Business Insights™ predicts a positive growth for the market during the forecast year.
The report for the metal fabrication service market highlights detailed research on new advancements implemented in the industry to bolster market development and gain lucrative opportunities to improve service demands. New services and products introduced by key players in major countries are discussed further in this report to analyze the company's business development strategies. The competitors' number of products and services are assessed to understand the potential scope for developing market performance in emerging competition.
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Metal fabrication is one of the integral part of industrial operations. It involves several processes that are used to cut, shape, or mold metal structures into final product. Aluminum, brass, copper, gold, and iron, are some of the examples of metal types involved in metal fabrication. The report offers detailed analysis and research during the forecast period (2019-2026) using research methodologies such as PESTEL analysis and SWOT analysis. Furthermore, the report characterizes the market based on several growth parameters such as the drivers or trends, challenges. It further enlists the key competitors present in competitive landscape and the strategies adopted by them that include mergers and acquisitions, new product launches, collaborations, and other strategies to gain market presence.
Drivers and Restraints
Paradigm Shift to Automated Fabrication to Boost Market Growth
Presence of technological advancements is witnessed in the metal fabrication market. With an array of benefits over manual fabrication, automated fabrication is likely to propel the metal fabrication market growth in upcoming years. The benefits include lowering prices of metal fabrication services in industry operations using automated fabrication. Additionally, adopting to automated fabrication has resulted in increased efficiency in metal fabrication services around the world. Apart from this, automated fabrication results in fewer mishaps during fabrication process. Rise in alternate technologies such as the Additive technology that uses 3D designs to fabricate metals, is seen as a deterring factor in market growth to some extent.
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Regional Analysis
Asia-Pacific to Remain Dominant; Automation to Swell North America & Europe Market
In terms of region, the market is grouped into Latin America, North America, the Middle East and Africa, Europe, and Asia Pacific. Out of these, Asia-Pacific comprising of India, Japan, China, Vietnam, and Bangladesh, is expected to remain dominant and rise further owing to increasing industrial activities. Furthermore, government initiatives like the “Make in India” and “Make in China 2025” is expected to help the metal fabrication market positively. On the other hand, North America and Europe is likely to grow steadily backed by adopting automated metal fabrication services. Low cost of automated fabrication services will further increase the market revenue in these regions. Moreover, rapid infrastructure growth in Middle-East and Africa would drive market growth in the forecast period.
Competitive Landscape
Core Industrial Partners Acquires Cal-X Inc. to Strengthen its Position
Several key players in the metal fabrication service market are planning to adopt strategies such as mergers and acquisitions to achieve maximum market share in the forthcoming years. In addition to this, they are planning to launch automated fabrication services or products with an aim to increase efficiency and gain an edge in the competitive market. Below are a few key latest industrial developments:
Industrial Developments
- August 2019: Appolo Heating, Inc. and J&J Sheet Metal Works, LLC are two subsidiaries of Moro Corporation. J&J is set to add fabrication, installation, and BIM modeling services to augment Appolo Heating. They together will provide an integrated service and product, which would help strengthen their position in the market.
- July 2019: Smucker Laser has added a new Press Brake in order to add Metal Bending Service in the current Metal Fabrication and Laser Cutting Services. The Safan Darley E-Brake 200-4100 Ultra NS 6-axis was added for complex bending capabilities.
Prominent companies operating in the global metal fabrication service market. They are as follows:
- Helander Metal
- Schaumburg Specialties LLC
- Metal-Fab Service Industries Inc.
- Gothaer Fahrzeugtechnik GmbH
- Ark Alloy, LLC
- GG Fabrication Inc.
- American Metal Fab, Inc.
- AAP Metal Fabrication Services
- Protolabs
- P.G.L. Industries, Inc.
- Miro Manufacturing Inc.
Global Metal Fabrication Service Market Segmentation:
By Service Type
- Punching
- Stamping
- Forming
- Welding
- Cutting
- Polishing
- Others
By Material
- Steel
- Aluminum
- Others
By End-User Industry
- Oil and Gas
- Construction
- Aerospace
- Marine
- Automotive
- Military
- Others
By Geography:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)
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