The metal fabrication market was USD 21.8 billion in 2023, which will rise to USD 27.4 billion, progressing at a 3.4% compound annual growth rate, by 2030.The acceptance of automated fabrication practices coupled with the quick rate of infrastructure expansion activities are some of the key factors assisting the industry progression.
Metal fabrication employing automation would be rather cost-effective and assist in streamlining the procedure. Moreover, managing both heavy, huge, or small parts becomes suitable.
In 2023, the copper category, on the basis of metal type, was the largest contributor to the metal fabrication market, and it will further propel at a 3.2% CAGR in the years to come. This can be primarily because of the various applications of copper products in various sectors.
Copper possesses good thermal conductivity, ductility, and electrical conductivity, and it doesn’t corrode easily. Therefore, it is appropriate for different applications like heating systems, electrical wiring, water pipes & fittings, and circuit boards.
APAC is the largest contributor to the industry, and it will remain the largest, with a 3.6% compound annual growth rate in the years to come. The progression as well as the dominance is because of the speedy rate of infrastructure expansion in this region and the government projects to boost manufacturing in the respective nations.
North America is likely to generate a significant share, and progress at a 3.2% CAGR, in the years to come. This can be mainly because of the existence of different metallic resources like iron, lead, zinc, and copper, as well as the developed industrial setup of automotive and manufacturing companies.
It is because of the changing inclination toward automated fabrication and rising funding for industrialization as well as infrastructure expansion, the metal fabrication industry will continuously progress in the coming years.
