NEW YORK , Nov. 17, 2022 /PRNewswire/ -- The sheet metal fabrication services market size is estimated to grow by USD 3.52 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 3.47% during the forecast period, according to Technavio. The year-over-year growth rate of the market in 2022 is 3.12%. Get a comprehensive report summary that describes the market size and forecast along with research methodology. The FREE sample report is available in PDF format
The increasing demand for fabricated metal parts in major end-user industries is driving market growth. The automotive industry needs different types of sheet metal fabricated parts such as enclosures, brackets, and flange plate assembly as well as complex specialty parts. In APAC, the growth of the sheet metal fabrication services market is high owing to the growth in automotive sales. The governments of India and China are focusing on reducing air pollution and dependency on foreign oil imports as well as driving investments in the electric vehicle manufacturing sector. The aerospace and defense sector is also a key end-user of sheet metal products. A rise in global defense spending will increase the demand for sheet metal fabricated products. Metal Laser Cutting Service
The advent of additive manufacturing is a key trend in the market. 3D printing helps in producing complex designs and optimizing the use of the material to minimize wastage. Dies and tools can be quickly printed from a fiber-reinforced polymer. Hence, 3D printing helps reduce costs and the overall lead time. 3D printing can also be used to manufacture cost-effective parts that are priced lower than those manufactured traditionally, which offsets the high initial cost. Such factors will support the sheet metal fabrication services market growth during the forecast period.
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The sheet metal fabrication services market report includes information on the product launches, sustainability, and prospects of leading vendors including All Metals Fabricating Inc., BTD Manufacturing, Classic Sheet Metal Inc., Cupples J and J Co. Inc., Diehl Stiftung and Co.KG, Dynamic Aerospace and Defense Ltd., Ironform Corp., Kapco Metal Stamping, Marlin Steel Wire Products LLC, Mayville Engineering Co. Inc., Metal Fab Services Inc., Metal Working Group, Metcam Inc., Moreng Metal Products Inc., Noble Industries Inc., ONeal Manufacturing Services, Otter Tail Corp., Quality Sheet Metal Inc., Ryerson Holding Corp., and Standard Iron and Wire Works Inc. The key offerings of some of these vendors are listed below:
All Metals Fabricating Inc. - The company offers sheet metal fabrication services such as tube laser cutting, laser cutting, and CNC punching services.
Classic Sheet Metal Inc. - The company offers sheet metal fabrication services such as CNC metal punching and CNC laser metal cutting services.
Cupples J and J Co. Inc. - The company offers sheet metal fabrication services such as CNC punching, welding, waterjet, and fine plasma cutting services.
Diehl Stiftung and Co.KG - The company offers sheet metal fabrication products such as AXIAL BEARINGS, PIN FIN, and CONCEALED FITTINGS.
Dynamic Aerospace and Defense Ltd. - The company offers sheet metal fabrication services such as stamping, cutting, and forming services.
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The competitive scenario provided in the sheet metal fabrication services market report evaluates, analyzes, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, product innovations, growth strategies, new product launches, growth in market share, and investments.
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By geography, the market is classified into APAC, North America , Europe , South America , and Middle East and Africa . APAC will have the largest share of the market and is expected to account for 43% of the market's growth during the forecast period. This growth is attributed to factors such as the emergence of local vendors that offer low-cost and high-quality fabricated metal products. Moreover, market growth in this region will be faster than the growth of the market in other regions. China , Japan , and South Korea are the key countries for the sheet metal fabrication services market in APAC.
By end-user, the market is classified into automotive, industrial machinery, electrical and electronics, aerospace and defense, and others. The automotive segment will contribute the largest share of the market during the forecast period. The automotive industry is a primary end-user of sheet metal fabrication services, as fabricated metal parts are used in a majority of vehicle systems. Bus bars and terminals are some of the commonly used fabricated metal parts in the automotive industry. The high use of sheet metal fabrication in the automotive industry will drive the growth of this segment during the forecast period.
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Sheet Metal Fabrication Services Market Scope
Accelerate at a CAGR of 3.47%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Japan, South Korea, Germany, and France
Leading companies, competitive strategies, consumer engagement scope
All Metals Fabricating Inc., BTD Manufacturing, Classic Sheet Metal Inc., Cupples J and J Co. Inc., Diehl Stiftung and Co.KG, Dynamic Aerospace and Defense Ltd., Ironform Corp., Kapco Metal Stamping, Marlin Steel Wire Products LLC, Mayville Engineering Co. Inc., Metal Fab Services Inc., Metal Working Group, Metcam Inc., Moreng Metal Products Inc., Noble Industries Inc., ONeal Manufacturing Services, Otter Tail Corp., Quality Sheet Metal Inc., Ryerson Holding Corp., and Standard Iron and Wire Works Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
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3.4 Market outlook: Forecast for 2021-2026
5.3 Automotive - Market size and forecast 2021-2026
5.4 Industrial machinery - Market size and forecast 2021-2026
5.5 Electrical and electronics - Market size and forecast 2021-2026
5.6 Aerospace and defense - Market size and forecast 2021-2026
5.7 Others - Market size and forecast 2021-2026
7.3 APAC - Market size and forecast 2021-2026
7.4 North America - Market size and forecast 2021-2026
7.5 Europe - Market size and forecast 2021-2026
7.6 South America - Market size and forecast 2021-2026
7.7 Middle East and Africa - Market size and forecast 2021-2026
7.8 China - Market size and forecast 2021-2026
7.9 US - Market size and forecast 2021-2026
7.10 Germany - Market size and forecast 2021-2026
7.11 Japan - Market size and forecast 2021-2026
7.12 South Korea - Market size and forecast 2021-2026
7.13 France - Market size and forecast 2021-2026
8.3 Impact of drivers and challenges
10.5 Cupples J and J Co. Inc.
10.6 Diehl Foundation and Co. KG
10.7 Dynamic Aerospace and Defense Ltd.
11.3 Currency conversion rates for US$
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