ALBANY, New York, June 15, 2020 /PRNewswire/ -- Transparency Market Research has now published a new research report that offers a detailed information about the global metal fabrication market. The research report tries to offer meaningful and actionable insights about the key segments, prominent growth drivers, restraining factors, geographical outlook, and the current situation of the vendor landscape of the global market.
As per the research report, the global metal fabrication market is projected to showcase a steady CAGR of 3.5% over the course of the given forecast period ranging from 2019 to 2027. Given the rate of growth, the valuation of the global market is expected to rise up to US$23.05 Bn by the fall of 2027.
The global metal fabrication market is broadly segmented in terms of service, end use industry, and region.
In terms of service, the global market is segmented into metal stamping, metal punching, metal folding, metal rolling, metal cutting, metal shearing, metal forming, metal machining, and metal welding.
Of these, the segment of metal welding is expected to witness a decent growth in coming years of the forecast period.
In terms of end user industry, the global metal fabrication market is segmented into electronics, energy and power, manufacturing, aerospace, automotive, construction, and others.
Of these, aerospace and manufacturing are expected to present lucrative growth opportunities for the development of the global market.
Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Metal Fabrication Market (Service: Metal Welding, Metal Machining, Metal Forming, Metal Shearing, Metal Cutting, Metal Rolling, Metal Folding, Metal Punching, Metal Stamping; End use Industry: Construction, Automotive, Aerospace, Manufacturing, Energy and Power, Electronics, Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/pressrelease/metal-fabrication-market.htm
Global Metal Fabrication Market – Key Driving Factors
One of the key driving factors for the growth of the global metal fabrication market is the integration of different software and ERP technologies. This has made data easily accessible and accelerated the overall decision making process. Moreover, the software has helped in improving the overall efficiency and productivity of the regulation operations.
Another important factor that has helped in driving the growth of the global metal fabrication market has been the recent advancements in the field of automation and robotic tools used for fabrication of metals. It has helped in improving the productivity and also cut down the labor cost.
Increasing demand for metal fabrication from variety of end user verticals such as military & defense, medical devices, consumer products, agriculture, aerospace, construction, oil & gas, and automotive is also expected to drive the growth of the market in the coming years of the forecast period.
Finding skilled labor is becoming increasingly difficult, as metal fabrication market is becoming technologically advanced.
According to an OECD report, skill shortage is a rising issue across the globe. Countries such as Japan, India, Brazil, and the U.S. are facing severe shortage of skilled workforce despite high unemployment rates. This is anticipated to hinder the metal fabrication market in the near future.
Global Metal Fabrication Market – Geographical Outlook
Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa are the five key regional segments of the global metal fabrication market.
Asia Pacific held a prominent share of the global metal fabrication market in 2018, owing to extensive research and development activities in Japan, China, South Korea, and India.
Construction and automotive are focus segments of the metal fabrication market in Asia, owing to strong presence of construction and automotive companies in China and India.
Analyze Metal Fabrication Marketgrowth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Global Metal Fabrication Market – Key Players
Kaman Corporation, O'Neal Manufacturing Service, BTD Manufacturing Inc., Matcor-Matsu Group Inc., Mayville Engineering Comp. Inc., and Defiance Metal Products Inc. are some of the key players in the global market.
The Global Metal Fabrication Market has been segmented as presented below:
Metal Fabrication Market: Service
Metal Fabrication Market: End-use Industry
Energy and Power
Others (Including Consumer Products and Sports & Leisure)
Wax Market: Regional Analysis
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,
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