Global Sheet Metal Fabrication Services Market Expected to Rise at a CAGR of 1.4% During 2017- 2025

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

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

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. Aluminum could also exhibit rapid progress in the coming years due to its growing demand in the automotive industry and the booming aerospace sector. Aluminum is likely to account for close to 40% of the global sheet metal fabrication services market by the end of the forecast period. Moreover, the demand for copper, tungsten, and other sheet metal fabrications is likely to be aided by the rapid urbanization across the world, as these two metals have several applications in urban infrastructure.

The steel market is segmented into grade 301 stainless, grade 304 stainless, grade 316 stainless, grade 410 stainless, and others. The grade 301 stainless and grade 304 stainless segments dominated the market in 2016.

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 of 2017-2025. Nevertheless, the punch sheet and cut sheet forms collectively accounted for 52% of the global sheet metal fabrication services market in 2016 and are also likely to remain dominant contributors to the market in the coming years.

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