SAN FRANCISCO , March 1, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Sheet Metal Fabrication Services - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to our digital archives and MarketGlass Research Platform
Complimentary updates for one year
Edition: 9; Released: February 2022 Executive Pool: 682 Companies: 153 - Players covered include Action Fabricating, Inc.; BTD Manufacturing; Classic Sheet Metal, Inc.; Dynamic Aerospace and Defense Group (Hydram Engineering Hydram Engineering Ltd.); Ironform Corporation; Kapco Metal Stamping; Marlin Steel Wire Products; Mayville Engineering Company, Inc.; Metcam, Inc.; Moreng Metal Products Inc.; Noble Industries, Inc.; O'Neal Manufacturing Services; Ryerson Holding Corporation; Standard Iron & Wire Works, Inc.; The Metalworking Group and Others. Coverage: All major geographies and key segments Segments: By Material (Steel; Aluminum; Other Materials); By Form (Bend Sheet; Punch Sheet; Cut Sheet; Other Forms); By End-Use (Automotive; Industrial Machinery; Construction; Aerospace & Defense; Electronics; Telecommunications; Other End-Uses) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; Spain ; Russia ; and Rest of Europe ); Asia-Pacific (Australia ; India ; South Korea ; and Rest of Asia-Pacific ); Latin America (Argentina ; Brazil ; Mexico ; and Rest of Latin America ); Middle East (Iran ; Israel ; Saudi Arabia ; United Arab Emirates ; and Rest of Middle East ); and Africa .
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
Global Sheet Metal Fabrication Services Market to Reach $17.2 Billion by the Year 2026 Sheet metal fabrication refers to the subtractive processing method to cut sheet metal into parts. Growth in the global market is being driven by rapid urbanization in many developing regions, and a robust trend of R&D investments in several services sectors. Increasing demand for sheet metal fabrication from a wide range of major end users such as military & defense, aerospace, automotive, oil and gas, industrial machinery, medical devices, construction, agriculture, consumer products, and electronics is expected to drive growth. Moreover, the current focus on enhancing operational efficiency and lean manufacturing is contributing to increased demand for the process of sheet metal forming among OEMs. Innovative prefabrication techniques adopted by sheet metal fabrication service providers to meet the growing demand are expected to further drive the growth. The increasing shortage of labor could be addressed by adopting cobots in metal fabrication processes. Therefore, increasing number of metal fabrication facilities are adopting cobots to enhance operational efficiency and improve product quality. The sheet metal fabrication industry is also witnessing increase in the use of CNC machine tools as one of the essential tools in several applications including molding and shaping. Advancements in many functions such as jerk control, smooth and high-speed tool center point, AI contour, and motion control software reduced the cycle time considerably. In addition, augmented ergonomics enabled reduction in the cost per part, thus driving the demand for sheet metal fabricated products.
Amid the COVID-19 crisis, the global market for Sheet Metal Fabrication Services estimated at US$15.3 Billion in the year 2022, is projected to reach a revised size of US$17.2 Billion by 2026, growing at a CAGR of 2.6% over the analysis period. Steel, one of the segments analyzed in the report, is projected to grow at a 3% CAGR to reach US$7.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Aluminum segment is readjusted to a revised 2.5% CAGR for the next 7-year period. This segment currently accounts for a 38.9% share of the global Sheet Metal Fabrication Services market. Steel and aluminum constitutes the most widely used metals for sheet metal fabrication on account of their durability, high strength, and corrosion resistant properties. Steel is poised to continue making strong gains in the market, given its important as a preferred building material in large-scale construction projects.
The U.S. Market is Estimated at $2.7 Billion in 2022, While China is Forecast to Reach $6 Billion by 2026 The Sheet Metal Fabrication Services market in the U.S. is estimated at US$2.7 Billion in the year 2022. The country currently accounts for a 17.78% share in the global market. China , the world's second largest economy, is forecast to reach an estimated market size of US$6 Billion in the year 2026 trailing a CAGR of 3.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada , each forecast to grow at 1.5% and 2% respectively over the analysis period. Within Europe , Germany is forecast to grow at approximately 1.8% CAGR while Rest of European market (as defined in the study) will reach US$6.2 Billion by the end of the analysis period. North America accounts for a significant share of the sheet metal fabrication market due to growing construction projects, as well as the region's strong aviation and defense industries. The rapid growth of Asia-Pacific region's manufacturing sector is attributed to easy availability of raw materials and comparatively cheap labor. Due to growing demand in the countries of Asia-Pacific , a number of companies are shifting their manufacturing base to this region, and this is in turn boosting the region's sheet metal fabrication services market growth.
Bend Sheet (Form) Segment to Reach $5.7 Billion by 2026 Growth in the Bend sheet segment is on account of its widespread use in manufacturing, automotive, construction, electronics and telecommunication sectors. The segment is poised to benefit from the rapid urbanization trend worldwide and the consequent rise in construction activities. The increasing adoption of automation in sheet metal fabrication industry is increasingly simplifying and improving the process involved in bend and cut sheet metal fabrication. In the global Bend Sheet (Form) segment, USA , Canada , Japan , China and Europe will drive the 2.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.9 Billion will reach a projected size of US$4.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia , India , and South Korea , the market in Asia-Pacific is forecast to reach US$570.5 Million by the year 2026, while Latin America will expand at a 3.2% CAGR through the analysis period. More
MarketGlass™ Platform Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS: Zak Ali Director, Corporate Communications Global Industry Analysts, Inc. Phone: 1-408-528-9966 www.StrategyR.com Email: ZA@StrategyR.com
LINKS Join Our Expert Panel https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter https://twitter.com/marketbytes
Journalists & Media Info411@strategyr.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-study-from-strategyr-highlights-a-17-2-billion-global-market-for-sheet-metal-fabrication-services-by-2026--301491449.html
SOURCE Global Industry Analysts, Inc.
As we close in on the final quarter of 2022, investors are looking for an answer to one question: was June’s low the bottom for stocks, or do they have more room to fall? It’s a serious question, and there may be no easy answer. Markets are facing a series of headwinds, from the high inflation and rising interest rates that we’ve grown familiar with to an increasingly strong dollar that will put pressure on the upcoming Q3 earnings. Weighing in on current conditions from Charles Schwab, the $8 t
Congressional Democrats want to slam shut a tax loophole known as the "backdoor" Roth IRA. In one of several proposed changes that target the retirement accounts of wealthy Americans, Democrats on the House Ways and Means Committee want to prohibit people … Continue reading → The post Democrats Want to End This Lucrative Retirement Account Loophole appeared first on SmartAsset Blog.
Berkshire Hathaway is on pace to collect $6.07 billion in dividend income over the next 12 months. Just five holdings will account for 71% of total payouts.
Nursing homes and debt collectors are billing and suing long-term-care residents’ family members and friends, demanding payments for debts these individuals don’t legally owe, consumer attorneys and federal regulators are claiming. Under federal law, nursing homes participating in Medicare and Medicaid can’t make such provisions a condition of admission or continued stay in the facility.
The S&P 500 is on again, off again all year. But investors clearly have a "buy list" of stocks they want to own when the rally looks real.
NIO Inc. stock is trending on the Yahoo Finance Platform. Here is a visualization of $NIO performance over time, how that performance compares to the wider industry, and analyst projections for the current quarter.Check out the ticker page here.
Canadian cannabis company Tilray Brands (NASDAQ: TLRY) hasn't been a great stock for shareholders over the last year, with shares down more than 70%. Part of the reason for that has been the lack of progress toward legalizing cannabis in the U.S. But Tilray has established a presence south of the Canadian border and has profitable beer and spirits businesses there. An expansion of one of those businesses had investors pushing Tilray stock 4.6% higher as of 12:40 p.m. ET Friday.
A strong bearish trend defined the markets in the first half of the year; since then, the key point has been volatility. Stocks hit a bottom back in June, when the S&P 500 dropped into the 3,600s. That has proven to be a support level in the last two months, and at least one strategist believes that the market won’t be testing those lows again this year. JPMorgan's Jason Hunter believes that inflation may have peaked, and that the upcoming CPI report will provide additional evidence of that. “We
In an effort to streamline the regulation that governs how retirement accounts can be used, the IRS has proposed a change for 403(b) plans - a type of workplace retirement plan use mostly by public and non-profit employees. Employer-sponsored plans … Continue reading → The post The IRS Is Changing How Your Beneficiaries Receive Your Retirement Funds appeared first on SmartAsset Blog.
In this article, we will look at 10 stocks that Jim Cramer is talking about in September. If you want to explore more stocks that journalist investor, Jim Cramer, is talking about in September, you can also take a look at Jim Cramer is Talking About These 5 Stocks in September. Jim Cramer has acquired […]
It’s time to consider this contrarian play.
Gary Gensler had strong words for the crypto industry in a Thursday speech, telling an audience of lawyers that the "vast majority" of the nearly 10,000 existing crypto tokens are securities.
Deciding when to time your retirement plan withdrawals matters for determining how long your money will last and what you'll pay in taxes for those distributions. If you have a 401(k) at work, you might follow the Rule of 55 … Continue reading → The post Rule of 55 vs. 72(t): Retirement Plan Withdrawals appeared first on SmartAsset Blog.
See how to gauge demand and strength in Apple, Nasdaq and other stocks on the latest list of new buys by the best mutual funds.
The old saying “different strokes for different folks” certainly rings true in the stock market. Some investors prefer growth stocks like Tesla Inc. that are volatile but have produced years of outstanding appreciation. Other folks prefer less volatile stocks like Johnson & Johnson whose growth may be slower but also add dividends of 2% to 3% annually to the total performance. In addition, there are income investors, who strictly look for stocks that will provide high-yield dividends year after
In this article, we discuss 10 dividend stocks with over 8% yield to buy in September. You can skip our detailed analysis of top high dividend stocks, and go directly to read 5 Best Dividend Stocks with Over 8% Yield You Can Buy in September. In the current market situation, investors are looking for different […]
Annaly Capital Management (NLY) closed at $6.65 in the latest trading session, marking a -0.15% move from the prior day.
Investors are seeing higher growth potential for QuantumScape's battery cell technology after an interesting EV industry development.
Amazon.com Inc founder Jeff Bezos made an early bet on the short-term rental platform Airbnb Inc during the company’s Series B round in 2011, nearly a decade before its initial public offering (IPO). His investment came long before the now popular accommodations marketplace was a household name and a common term used to describe virtually any short-term rental. It’s unclear exactly how much Bezos profited off his pre-IPO investment in Airbnb, but it’s clear that the billionaire investor had incr
The stock market rally is reviving, but is even stronger than the major indexes suggest. Tesla is among stocks in buy areas.