Global Sheet Metal Fabrication services Market - Wishtree Insight

Global sheet metal fabrication services Market by Material (Aluminum, Steel, Silver, and Others), Form (Cut Sheet, Bend Sheet, Punch Sheet, and Others), End-User (Aerospace & Defense, Telecommunication, Construction, Electronics, Industrial Machinery, and Others), and Regions (The Asia Pacific, Middle East Africa, Europe, North America, and Latin America) - Global Industry Analysis, Share, Growth, Trends, Size, and Forecast 2021 – 2031

The Global sheet metal fabrication services market size was valued at USD 19.1 billion in 2021 and is expected to surpass USD 24.4 billion by 2031, expanding at a CAGR of 3.4% during the forecast period, 2021–2031. The growth of the market is attributed to the use of sheet metal fabrication services in a variety of applications, rapid industrialization, end-user industries, and growing demand for various industries in the market.

INTRODUCTION

The global sheet metal fabrication services market has prominent growth in the market and is expected to grow at a steady rate in the coming years. Sheet metal forming plays a decisive role in the automotive and aerospace & defense industries. The sheet metal forming process is expected to become an important service, owing to the increasing focus on lean manufacturing, good operational efficiency, and cost-effectiveness. The rising investments and developments in the automotive and aerospace & defense industries will bolster the global sheet metal fabrication services market within the forecast period. 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, sheet metal is widely used for various applications like Anti-slip surfaces that can also be produced by sheet metal fabrication, and cladding which is used to cover buildings. The government’s initiatives across the globe towards the continuous structuring and developing plans for the promotion of new industrial areas have created tremendous opportunities in the sheet metal fabrication services market. The health and safety issues related to the fabricators are anticipated to hamper the sheet metal fabrication market. .

Market Trends, Drivers, Restraints, and Opportunities

• Rapid industrialization is the major fuel element expected to boost the sheet metal fabrication services market.
• Increasing demand for sheet metal in the aerospace & defense industry is a major factor in the rise of the market.
• The increasing demand for fabricated metal parts in construction, aerospace & defense, electronics & telecommunication, and automotive industries is increasing lucrative growth in the sheet metal fabrication services market.
• The growing inclination towards the use of carbon fiber and other composite materials is some of the restraining factors in this market.
• Latest technologies like 3D printing/additive manufacturing technologies have created wide opportunities for the global sheet metal fabrication services market.

Scope of the Report

Market Segment Insights

The steel segment is projected to register a considerable CAGR

On the basis of material, the market is segregated into aluminum, steel, silver, and others. The steel segment is projected to register a considerable CAGR during the forecast period. Due to its performance, availability, and adoption steel is popular in various industries. Steel, aluminum, and other materials are widely used in the construction industry for joists, columns & beams, aluminum framing, and studs. On the other hand, the aluminum segment is anticipated to account for a major market share during the forecast period.

The bend sheet segment is expected to expand at a rapid pace

Based on form, the global sheet metal fabrication services market is divided into cut sheets, bend sheets, punch sheets, and others. The bend sheet segment is expected to expand at a rapid pace during the forecast period. Due to its wide applications in electronics, telecom, manufacturing, and construction industries in the world the segment is expanding at a rapid pace. The increasing demand for bend sheets in sheet metal fabrics from the construction industry is a key driver for market growth.

The construction segment is projected to register a considerable CAGR

On the basis of end-user, the global sheet metal fabrication market is segregated into aerospace & defense, telecommunication, construction, electronics, industrial machinery, and others. The construction segment is projected to register a considerable CAGR during the forecast period owing to the growth of sheet metal fabrication in the Asia Pacific middle east Europe and other regions. On the other hand, the industrial machinery and aerospace & defense segment is anticipated to account for a major market share during the forecast period.

The North American region is anticipated to constitute a key market share

In terms of regions, the global sheet metal fabrication services market is classified as the Asia Pacific, Middle East Africa, Europe, North America, and Latin America. The market of the North American region is expected to constitute a key share of the market during the projected period. This can be attributed due to the high investments and technological developments increased construction projects and strong defense & aviation industry in the region. However, the market of the Asia Pacific is anticipated to expand at a rapid pace with key players adopting an expansion strategy in this region to gain maximum market share in the forecast period. Countries from this region like China and India are offering ample opportunities for the growth of the sheet metal fabrication services market with its high demand for sheet metal among various manufacturing companies. The growth of the construction industry, industrial machinery, automotive, and electronics industry, also the availability of low-cost of sheet metal in Asia Pacific regions are expected to drive up the market.

Competitive Landscape

Key players competing in the Global sheet metal fabrication services market are BTD Manufacturing Inc. (U.S); Noble Industries Inc. (New Jersey); Classic Sheet Metal Inc. (U.S); Dynamic Aerospace and Defense Group (U.S.); team visual solutions (Dubai); Ironform Corporation (U.S.); Kapco Metal Stamping (U.S.); Noble Industries Inc. (New Jersey); Chong Fong Engineering (Singapore)

FAQs

Mention the market size of the Global sheet metal fabrication services in 2021.

The Global sheet metal fabrication services market size was valued at USD 19.1 billion in 2021 and is expected to surpass USD 24.4 billion by 2031.

During the forecast period, what is the CAGR of the market?

During the forecast period, the CAGR of the market is expected to be 3.4%.

What are the key drivers of the market?

The growth of the market is attributed to the use of sheet metal fabrication services in a variety of applications, rapid industrialization, end-user industries, and growing demand for various industries in the market.

What segments are covered in the Global sheet metal fabrication services report?

Segments covered in the report are Material (Aluminum, Steel, Silver, and Others), Form (Cut Sheet, Punch Sheet, and Others), End-User (Aerospace & Defense, Telecommunication, Construction, Electronics, Industrial Machinery, and Others)

Mention the region is expected to hold the highest share in the Global sheet metal fabrication services.

The North American region is expected to hold the highest share in the Global sheet metal fabrication services.

Mention the key players in the market.

Key players competing in the Global sheet metal fabrication services market are BTD Manufacturing Inc. (U.S); Noble Industries Inc. (New Jersey); Classic Sheet Metal Inc. (U.S); Dynamic Aerospace and Defense Group (U.S.); team visual solutions (Dubai); Ironform Corporation (U.S.); Kapco Metal Stamping (U.S.); Noble Industries Inc. (New Jersey); Chong Fong Engineering (Singapore)

Which segment dominates the market?

The construction segment dominates the market.