Why the Metal Fabrication Industry Is Growing
Recent research within the metal fabrication industry has shown a growing trend towards increased demand and great profits through various niche markets. Continued research has highlighted a range of meaningful and actionable insights into the current situation within the metal fabricating market and the general landscape of the global market. Key areas of focus include the need for thin steel sheet metal production as well as other high-demand metals including aluminum, copper, and tin.
According to PR Newswire the global metal fabrication market is largely on the rise, and the industry will grow by billions of dollars by 2027. Data such as this highlights the growing demand and value of the metal production and fabrication industry as a whole. High-demand industries such as aeronautics, medical, industrial, and construction are fueling the need for reliable quality sheet metals and related products.
Key points to remember when it comes to monitoring the metal fabrication industry include the following:
- The global market for metal fabrication continues to be very segmented when it comes to things like documentation, terms of service, niche industry specifications, customer demands, and regional shipments.
- In terms of service, the metal fabrication industry generally gets broken down into the following: metal stamping, metal rolling, metal cutting, metal punching, metal forming, metal folding, metal shearing, metal welding, and metal machining.
- Metals in demand range from thin steel sheets to pre-constructed aluminum paneling, to durable components needed for use with other metal pieces and mechanisms.
- Many of these segments, particularly metal welding, cutting, and stamping are seeing an increase in demand throughout many industries and niche markets.
- When looking at industries driving the metal fabrication explosion they include: aerospace, electronics, energy and power, construction, manufacturing, automotive, and others.
- Of these, aerospace and manufacturing are poised to see the greatest level of growth. They are being watched closely as an opportunity for lucrative development within the global metal fabrication market.
As highlighted by the U.S. Bureau of Labor Statistics, the metal fabrication industry can be expected to add more than 12,000 jobs to the sector in the next few years, which shows why there has been such a renewed interest in this industry today.