MARKET OVERVIEW OF METAL FABRICATION INDUSTRY

Any type of industrial activity is an integral part of society and nations and is known as. the economic lifeline of the world. Various industrial activities  are interrelated and interdependent and when it comes to metal Fabrication services it is considered as one of the backbones of industrial operations. Metal fabrication basically refers to any process that includes cutting, shaping or moulding metal and turning it into the final product. Fast Engineers and Fabricators service uses various metals  such as  aluminium, titanium, brass, copper, gold, iron, nickel, silver, magnesium, iron tin, titanium, and various grades of steel.

Segmentation 

Looking from a service angle, it can be segmented into Metal Punching, Metal Stamping, Metal Forming, Metal Welding, Metal Cutting, Metal Polishing, and other services. 

The material’ side makes it segmented into steel, aluminium, and other metals. 

On the basis of end-user industry, the metal fabrication service market can be segmented into Oil and Gas, Construction, supply and installation of petroleum storage-tanks Aerospace, Marine, Automotive, Military, etc.  

Market Overview

Metal fabrication services are known as the backbone of industrial operations for a reason as the Indian fabrication industry is considered as one of the few bright spots in the global fabrication industry. The major market driver for the global metal fabrication service market is taking a shift towards automated fabrication resulting in lower prices, increased the efficiency of the fabrication process and fewer accidents during fabrication process.

The Indian fabrication market has transformed to a great extent over the past few years and is expected to grow at 5.5% over the forecasted period.owing to factors, such as the increasing demand from the manufacturing sector, the rising preference toward pre-engineered buildings and components, and government initiatives toward infrastructure development activities. Coming to the technological advancements, though the adoption rate is low in the sector, it is consistently improving and helping the industry in producing accurate designs of metal structures.

The India metal fabrication market includes a large number of small- and medium-sized companies helping with the rising demand for goods and services across various sectors in India, combined with the fact that global manufacturing companies focus to diversify their production by setting-up low-cost plants in countries, like India, is expected to drive the Indian manufacturing sector.

The key market restraint for the global metal fabrication service market is the rise of alternate technologies and Fast Engineers & Fabricators is a company which is investing a lot in it trying to keep pace with the changing world.