Steel fabrication is the procedure of turning basic steel sections into operational shapes by processing it through steel fabricators that can be used in the construction, automotive, mining, and civil infrastructure sector. With rampant upsurge in steel production and extensive and undying application of steel in the aforementioned sectors, the fabrication steel market demand trajectory is escalating. As per a recent business intelligence report by IndustryARC, the global steel fabrication market value stood at $138 billion as of 2018; with perpetual crude steel production and modern civil infrastructure diverting from traditional concrete towards steel framework, endless opportunities is equipping the market with progressions calculated in the form of CAGR marking 4.10%, during the forecast period of 2019-2025.
The study incorporates all the commercial aspects of the trending steel fabrication market ranging from its end-users verticals, applications insights and regional revenue pockets to an imperative competitive landscape and pricing conditions. An unbiased topography is maintained throughout the report by the analyst via inclusion of challenging aspects pertaining to each segment assisted by effective solutions. The report is titled “Steel Fabrication Market: By Type (Carbon Steel, Alloy Steel, Stainless Steel and Tool Steel), By Manufacturing Process (Blast Furnace, Electric Arc Furnace and Others), By Product Type (Slab, Billet and Bloom), By End User (Automotive, Shipping, Infrastructure, Railways, Aviation, Power & Energy, Machine Goods, Home Appliances and Others) & Geography - Forecast(2019 - 2025).”
Steel Fabrication Market Leading Segments:
According to the analyst of the report, APAC pedals majority of the steel fabrication market share as a consequence of rapid industrialization. Economies such as China, India and Japan secured the top 3 spots as crude steel producers in 2018 as per the World Steel Association. In 2018, APAC lead the global steel fabrication market demand share that was evaluated to be 60%. Majority of the demand is sourced by the strong presence of automotive OEM manufacturers and bourgeoning construction trends in the region such as smart cities. The market for steel in APAC is well established with wide range of retail and distribution networks.
Steel fabrication serves steel with efficient industrial peculiarities such as corrosion resistance, high oxidation temperature, and integrity to maintain the mechanical properties over a wide temperature range. Such peculiarities are crafting it as an appropriate material to be used in modern construction sector that is diverting towards intricately designed infrastructures with utmost precision. Owing to such traits, building and construction is reckoned to be fastest growing end-user vertical, and is estimated to be progressing at CAGR of 5.20% going through 2025.
Steel Fabrication Market Trends:
- · The process of steel fabrication is an imperative tool capitalized by various energy sectors encompassing wind, oil and gas and, nuclear energy. The demand for precisely tailored products for specific industrial operations such as pipelines and electric power turbine comes from the energy generating plants, which in turn is propelling the steel fabrication market growth.
- · 3D printing technology, since its inception, has disrupted traditional processes in various sectors including steel fabrication. It optimizes the efficiency in output processes and advocates minimum wastage. 3D printing also known as metal printing liberate the scope of customization in steel fabrication and hence is fueling the demand for fabricated steel products to be employed in complex automotive engineering and construction process.
- · Contemporary steel fabrication processes are being sidelined with the advent of laser technology equipped with profitable traits. Laser technology apart from great speed and capacity also enhances the most essential front of 'precision'. With laser equipped tools intricate cuts are achieved with utmost accuracy and speed, making the process efficient and economic.
- · In 2018, Tata Steel and ThyssenKrupp went under a contractual agreement to merge their European steel business in a joint venture with equal shares. This union will generate a strong and robust European steel company and supplement rising opportunities for investors. The projected new company, to be entitled ‘thyssenkrupp Tata Steel BV’.
Steel fabrication Market Key Players Perspective:
Some of the key players operating the global steel fabrication market are O'Neal Manufacturing Service, BTD Manufacturing Inc., Kapco Inc., Mayville Engineering Company, Inc., Watson Engineering Inc., Defiance Metal Products, Standard Iron & Wire Works Inc., Ironform Corporation, EVS Metal, Interplex Holdings Pte. Ltd and LancerFab Tech Pvt. Ltd.
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A. Metal Fabrication Equipment Market
B. Steel Framing Market
What can you expect from the report?
The Steel Fabrication market is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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