North America Metal Fabrication Market: Introduction
The North America metal fabrication market is estimated to reach ~US$ 6 Bn by 2030, expanding at a CAGR of ~4% during the forecast period. In terms of service, the welding segment dominated the metal fabrication market in North America in 2019. The segment is expected to create an incremental opportunity of US$ 355.74 Mn during the forecast period. This can be ascribed to the fact that welding is a key process in automotive and manufacturing industries employed to join intricate parts. Demand for welding is high among field fabricators. Among raw materials, the steel segment held a significant share of the metal fabrication market in North America in 2018. It is likely to continue its dominance throughout the forecast period. Market share of the segment is expected to increase to 71.30% by 2030. This can be ascribed to low cost and easy availability of steel in the region.
Among end uses, the construction segment held a significant share of the metal fabrication market in North America in 2018. It is likely to continue its dominance during the forecast period. Market share of the segment is expected to increase 36.16% by 2030. This can be ascribed to increase in construction activities in the region.
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Major Developments in North America Metal Fabrication Market
In December 2019, BTD Manufacturing, a leading manufacturer of custom metal fabrications, was named a dual-training employer by Minnesota’s PIPELINE i.e. Private Investment, Public Education, Labor and Industry Experience Program.
In February 2018, O’Neal Manufacturing Services (OMS), a leading supplier of fabricated metal components and welded assemblies serving original equipment manufacturers (OEMs), announced to have moved its operations to a new facility in the northern part of Houston, Texas (the U.S.). Moreover, in October 2019, Mayville Engineering Company, Inc. (MEC) was honored at the Annual Wisconsin 75 Event as one of the largest closely held companies in the state of Wisconsin, the U.S. This was the 16th consecutive year that MEC received this recognition.
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Competition Landscape of North America Metal Fabrication Market
The North America metal fabrication market is highly fragmented. Various locally organized players operate in the market in the region. Scale of operations, quality expertise, and product differentiation are also high. Key players operating in the North America metal fabrication market are Helander, O’Neal Manufacturing Services, BTD Manufacturing Inc., Kapco Metal Stamping, Canadian Metal Fabricators Ltd., Ballman Metals, Schaumburg Specialties LLC, Mayville Engineering Company, Inc., Watson Engineering Inc., Miro Manufacturing, Inc., Matcor-Matsu Group Inc., Standard Iron & Wire Works Inc., and Ironform
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