Key Highlights
Metal fabrication refers to the procedure of making structures andmachines from various raw metal materials. This procedure comprises assembly,forming, machining, welding, burning, and cutting to produce a finishedproduct. Metal fabrication is basically a value added procedure that involvesmaking of structures, parts, and machines. In present times, the industry ishighly cyclical and dynamic with its expansion depending on various end usesectors. The end use segments for the global metal fabrication market compriseenergy, construction, aerospace, and automotive.
Changing demand of customers have made metal shops try for obtainingmore profitability through diversification of customer base and make correctforecasts about the pattern of demands. Transparency Market Research has comeup with an all-inclusive study on the global metal fabrication market, for theperiod 2019 to 2027. The report estimates that theglobal metal fabrication market is likely to grow at a rate of 3.5% CAGR.
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Rapid Industrialization to Drive Asia PacificMarket during the Assessment Tenure
Considering geographical segmentations, Asia Pacific is expected toaccount for a large share of the global metal fabrication market. Developingcountries like Indonesia, China, and India are witnessing rapid growth in theireconomies and rapid industrialization. Economic progress and industrializationresult in increased demand for various machines and metal structures, which islikely to trigger growth of the global metal fabrication market in the years tocome.
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Europe is estimated to emerge as another prominent region of the globalmetal fabrication market. Developed markets of western part of Europe such asthe U.K., France, and Germany are likely to generate demand for metalfabrication technology, thanks to rapid development in the automationtechnology.
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Integration of Automation to Offer LucrativeOpportunities for Growth
Various enterprise resource planning (ERP) technologies and software findincreased utilization in the metal fabrication market in years to come. Withthe use of ERP technologies, the data becomes easily available and it speeds upthe decision making process. Augmented utilization of computer-assistedtechnologies for manufacturing is assisting various market players to bettertheir production capacity and operational efficiency. These technologicalprogresses are expected to offer copious growth opportunities to the globalmetal fabrication market over the tenure of assessment, from 2019 to 2027.
The automobiles and aviation sectors make use of fabricated metalextensively and there is a constant rise in this trend, which is likely totrigger growth of the global metal fabrication market in years to come.However, the primary concern in relation to the fabrication equipment market isthe fluctuation of price and availability of raw materials. These two factorsare likely to impede growth of the global metal fabrication market in years tocome.
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In addition, advancement made in the field of robotics and automationtools is likely to emerge as another factor for the expansion of the globalmetal fabrication market in years to come. At present, automation is utilizedin the process of metal fabrication, which is to improve the efficiency of theoperation and reduce the overall cost of labor in years to come. Furthermore,automation tools like laser saws help fabricators to produce metal parts thatneed to be cut precisely, thereby underscoring the significance of automationtools in the global metal fabrication market.
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