Article Revised August 22nd, 2022
According to a new report published by DataIntello, The global metal fabrication market was valued at around US$ 16,824.1 million in 2016, and it is anticipated to expand at a Compound Annual Growth Rate, or CAGR, of over 4% through 2026. Market expansion will likely be driven by rising demand from construction and automotive companies.
The sheet metal fabrication market in North America is expected to expand at a CAGR of over 5% during that same forecast period. Increases in automation and technological upgrades are likely to propel the metal fabrication market in the region.
Other key takeaways include:
- Shifting trends in finance and manufacturing sectors and the adoption of automated fabrication processes are expected to boost the metal fabrication market.
- Increasing demand for machining and efficient fabrication processes are expected to expand metal fabrication market growth.
- A lack of availability of proficient employees and advancements in additive construction technologies has been restraining the industry’s growth.
- Advancements made in the field of automation tools and robotics are expected to create opportunities for metal fabricators and manufacturers.
- Metal cutting currently holds the largest part of the market share, a trend that is expected to continue through the forecast period.
EVS Metal is committed to keeping up with the latest market trends
At EVS Metal, we are dedicated to complete customer satisfaction, and that means keeping up with all of the latest market trends. We understand that every client has unique needs, and we are committed to providing them with the personalized metal fabrication service and solutions they deserve, even in a rapidly expanding and changing industry. We understand that without the loyalty and repeat business of our customers, there would be no EVS.
Request a personalized metal fabrication quote online, or call (973) 839-4432 to speak with a specialist today.