Sheet Metal Fabrication Services Market: Report by Form (Bend Sheet, Punch Sheet, Cut Sheet, and Other Forms), by Material (Steel, aluminum, and others), by End-Use Industry (Industrial Machinery, Construction, Aerospace & Defense, Automotive, Electronics, Telecommunication, and others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2026

Global sheet metal fabrication services market valued around USD 17.51 Billion in 2018 and is estimated to grow at a CAGR of around 2.4 % between 2019 & 2026

09-Dec-2019 | Number of pages: 110 | Report Code: ZMR-5098 | Report Format : | Status : Published

Abstract

The sheet metal fabrication services market valued around USD 17.51 Billion in 2018 and is estimated to grow at a CAGR of around 2.4 % between 2019 & 2026

The report covers forecast and analysis for the sheet metal fabrication services market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends, and industry-validated market figures. The study provides historic data of 2016 to 2018 along with a forecast from 2019 to 2026 based on revenue (USD Billion).

Sheet Metal Fabrication Services Market

The global sheet metal fabrication services market is likely to have prominent growth in the coming years and is expected to grow at a steady rate within the forecast period. There is enormous scope in the sheet metal fabrication services market owing to their usage in a variety of applications, and growing demand in the market. The crucial factor that is expected to drive the growth of the sheet metal fabrication services market is the increasing demand for fabricated metal parts from major end-user industries. Sheet metal forming plays a decisive role in the automotive and aerospace and defense industries despite the emergence of carbon fiber. Owing to the increasing focus on lean manufacturing, operational efficiency, and cost-cutting, the sheet metal forming process will be an important service for original equipment manufacturers over the years. Since the automotive and aerospace & defense industries are the crucial sectors for the market, the rising investments and developments in these industries will bolster the global sheet metal fabrication services market within the forecast period.

The global sheet metal fabrication services market has been categorized on the basis of the form, material, end-use industry, and region. Based on the form, the sheet metal fabrication services market is segmented into a bent sheet, punch sheet, cut sheet, and other forms. Among all forms, the bend sheet segment is anticipated to grow at a faster pace within the forecast period owing to its wide applications in telecom, electronics, construction, and manufacturing industries across the globe. Moreover, the increase in construction activities is expected to drive the demand for the bend sheet segment globally in the forecast timeframe. In terms of material, the global sheet metal fabrication services market is divided into steel, aluminum, and others. The steel segment is further divided into grade 304 stainless, grade 410 stainless, grade 316 stainless, grade 301 stainless, and others. The steel segment is becoming very popular in several industries owing to its availability, high performance, and high adoption. Steel beams and columns, joists, studs, and aluminum framing are the ongoing applications of steel sheets in the construction industry. By end-use industry, the global sheet metal fabrication services market is segmented into industrial machinery, construction, aerospace & defense, automotive, electronics, telecommunication, and others. The construction segment is expected to grow at a noteworthy rate within the forecast period owing to the growth of the sheet metal fabrication services market in APAC and MEA regions. Geographically, the North America region is expected to have a major share within the forecast period owing to the increased construction projects and strong defense & aviation industry in the region. Asia-Pacific region is likely to have a noteworthy share for the sheet metal fabrication services market within the forecast period. Asia-Pacific region is becoming the main hub for several construction activities owing to the rapid urbanization. Several industries such as automotive, industrial machinery, construction, and electronics are expected to expand their plants as well as facilities in this region. 

The rise in the demand for sheet metal fabrication services in the construction industry is the crucial driver which is uplifting the market. In the construction sector, the sheet metal is widely utilized for numerous applications such as cladding which is used to cover the buildings; Anti-slip surfaces that can also be produced by sheet metal fabrication. Moreover, the positive impact of the governments across the globe is continuously structuring and developing plans to promote these new industrial areas which have created humongous opportunities. The emerging advanced 3D printing/additive manufacturing technologies are creating opportunities for the global sheet metal fabrication services market. The factors which might hinder the growth of the sheet metal fabrication services market is the health and safety issues related to the fabricators.

The key players in the global sheet metal fabrication services market are BTD Manufacturing Inc., Classic Sheet Metal Inc., Dynamic Aerospace and Defense Group, Ironform Corporation, Kapco Metal Stamping, Marlin Steel Wire Forms LLC, Mayville Engineering Company Inc., Metcam Inc., Moreng Metal Forms Inc., Noble Industries Inc., O’Neal Manufacturing Services., Ryerson Holding Corporation, Standard Iron & Wire Works Inc., and The Metalworking Group among others.


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