Steel, Aluminum to Lead Global Sheet Metal Fabrication Services Market- Study

The sheet metal fabrication services market has acquired a vital position in the global metalworking sector and is likely to exhibit rapid growth in demand in the coming years. The sheet metal fabrication services market has been driven by the urbanization observed in several developing regions across the world, as well as steady growth of key end use industries such as aerospace and automotive.

The global sheet metal fabrication services market is projected to exhibit a CAGR of 1.4% between 2017 and 2025.

Ready to install fabrication products have become vital for these and other end users in the sheet metal fabrication services market, which is likely to aid steady progress of the sheet metal fabrication services market in the coming years.

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Steel, Aluminum to Lead Global Sheet Metal Fabrication Services Market

By metal type, the global sheet metal fabrication services market is segmented into steel, aluminum, and others such as copper and tungsten. Steel is the predominant leader in the global sheet metal fabrication services market due to its widespread use in the construction industry.

Based on form, the sheet metal fabrication services market is segmented into bend/angular sheet, punch sheet, cut sheet and other forms. Bend/angular form contributed maximum market share towards the total sheet metal fabrication services market in 2016 and is expected to grow at healthy CAGR during the forecast period.

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Asia Pacific Sheet Market Fabrication Services Market to Exhibit Highest CAGR

Geographically, North America is the leading contributor to the global sheet metal fabrication services market. The North America market for sheet metal fabrication services totaled US$635.7 mn in 2016 and is likely to rise to US$711.1 mn by 2025. Asia Pacific is also likely to emerge as a major regional player in the global sheet metal fabrication services market due to the rapid industrialization in the region and expected to exhibit a CAGR of 1.8% in the forecast period.

Key players engaged in the sheet metal fabrication services market are Standard Iron & Wire Works Inc., Hydram Sheet Metalwork, Classic Sheet Metal, Inc., Noble Industries, Inc., The Metalworking Group and others.