North America Fabricated Metal Products Market Size (2024 - 2029)

The North American fabricated metal products market is experiencing growth, with the market size reflecting a robust valuation. The sector is witnessing advancements, particularly in perforated metal manufacturing, driven by the increasing use of perforation rollers and laser technology. Despite challenges such as the global microchip shortage impacting the automotive industry, the market is poised for expansion, supported by legislative measures and infrastructure spending. The volatility in the market has created opportunities, as the supply chain continues to improve and inflationary pressures persist.

Market Size of North America Fabricated Metal Products Industry

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North America Fabricated Metal Products Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 4.00 %
Market Concentration Low

Major Players

North America Fabricated Metal Products Market  Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Fabricated Metal Products Market Analysis

The North American fabricated metal products market is valued around USD 43 billion in the current year and is anticipated to register a CAGR of more than 4% during the forecast period.

  • Within the market for metal fabrication in North America, perforated metal has advanced. The use of perforation rollers to punch metal evenly and uniformly is becoming more widespread in the metal manufacturing sector. To satisfy clients' requirements, equipment manufacturers are working to provide rollers that are project-specific. A rising market exists for perforation rollers that can punch cleanly through metal repeatedly while operating either cold or heated because the heated pin in these rollers forms a strengthened ring around the perforation to boost the metal's strength, and they are offering new prospects for metal fabricating businesses. On the other hand, lasers are receiving a lot of attention for their use in metal piercing.
  • In June 2022, manufacturing sales in Windsor dropped 22.9% to USD 1.2 billion. This was mostly because fewer cars and car parts were sold.Since 2021, there has been a shortage of microchips around the world, which has caused the auto industry in Windsor to shut down more than once.Higher sales in the machinery and fabricated metal industries offset some of the declines. Following a 1.1% drop in May 2022, manufacturing sales fell 0.8% to USD 71.8 billion in June 2022, due to lower sales in 8 of 21 industries, led by petroleum and coal products (-7.8%), wood products (-7.2%), and aerospace products and parts (-16.8%). Meanwhile, motor vehicle sales (+13.8%) and chemical product sales (6.0%) increased the most.
  • Automotive has been the most turbulent of the industries that fabricators serve. The sector experienced significant declines in the first and second quarters of 2021 before regaining momentum late in the year. According to ASIS, momentum continued to build in the first and second quarters of 2022 before slowing again later in the year. Overall, the industry will be better off, but it will be a bumpy ride. The global shortage of microchips is to blame for the majority of the volatility.
  • Almost all of those sectors experienced significant volatility in 2020 and 2021. Due to obvious reasons, business declined in early 2020, but as the global supply chain became more efficient, it continued to rebound. Parts of the metal fabrication industry are thriving. The sector is still pulling, eager to take off. Because of recently passed legislation in Washington, that pull is likely to become stronger with additional infrastructure spending. The global supply chain simply needs to catch up, and inflationary pressures will persist until it does. Given all of this, 2022-2023 is shaping up to be a year full of opportunity, despite its volatility.

North America Fabricated Metal Products Industry Segmentation

Fabricated Metal Products are the metal components that are assembled, shaped, or otherwise processed to produce a practical product. Several metalworking techniques, such as rolling, punching, stamping, sintering, welding, and machining, are together referred to as a fabrication. A complete background analysis of the North American Fabricated Metal Products Market, including the assessment of the economy and contribution of sectors in the economy, a market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics and geographical trends, and COVID-19 impact, is covered in the report.

The North American fabricated metal products market is segmented by material type (steel, aluminium, and others), by end-user industry (manufacturing, power and utilities, construction, oil and gas, and other end-user industries), and by country (the United States, Canada, and Mexico). The report offers the market size and forecasts for the North America fabricated metal products market in values (USD billion) for all the above segments.

By Material Type
Steel
Aluminum
Other Material Types
By End-User Industry
Manufacturing
Power and Utilities
Construction
Oil & Gas
Other End-user Industries
By Country
United States
Canada
Mexico
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North America Fabricated Metal Products Market Size Summary

The North American fabricated metal products market is experiencing a dynamic phase, driven by advancements in technology and evolving industry demands. The market is characterized by a significant focus on perforated metal and laser technologies, which are gaining traction in the metal manufacturing sector. Equipment manufacturers are innovating to meet specific project requirements, enhancing the capabilities of perforation rollers that improve metal strength. Despite challenges such as the global microchip shortage impacting the automotive sector, the market is poised for growth, supported by infrastructure spending and technological advancements. The automotive and aviation industries, in particular, are key drivers, with increasing demand for industrial fasteners and aircraft parts manufacturing. The integration of 3D printing and AI technologies in these sectors is expected to further propel market expansion.

The market landscape is fragmented, with numerous local, regional, and global players like Valmont Industries and Mayville Engineering Company. These companies are leveraging high-end technologies to differentiate their offerings and cater to the industrial and defense sectors. Recent strategic partnerships, such as the collaboration between Siemens and Desktop Metal, aim to enhance the adoption of additive manufacturing, highlighting the industry's shift towards innovative production methods. Despite challenges like high inflation and competition from EU imports, the market remains resilient, with strong demand from construction, aerospace, and transportation sectors. The ongoing adjustments in supply chains and pricing strategies are expected to sustain the market's growth trajectory in the coming years.

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North America Fabricated Metal Products Market Size - Table of Contents

  1. 1. MARKET DYNAMICS AND INSIGHTS

    1. 1.1 Current Market Scenario

    2. 1.2 Market Dynamics

      1. 1.2.1 Drivers

      2. 1.2.2 Restraints

      3. 1.2.3 Opportunities

    3. 1.3 Value Chain / Supply Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

    5. 1.5 Technological Advancements in Metal Fabrication

    6. 1.6 Insights on Production and Demand for Different Metals

    7. 1.7 Pricing Analysis of the Metal Fabricated Products Market

    8. 1.8 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Material Type

      1. 2.1.1 Steel

      2. 2.1.2 Aluminum

      3. 2.1.3 Other Material Types

    2. 2.2 By End-User Industry

      1. 2.2.1 Manufacturing

      2. 2.2.2 Power and Utilities

      3. 2.2.3 Construction

      4. 2.2.4 Oil & Gas

      5. 2.2.5 Other End-user Industries

    3. 2.3 By Country

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Mexico

North America Fabricated Metal Products Market Size FAQs

The North America Fabricated Metal Products Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Valmont Industries, Inc., Mayville Engineering Company, Inc., PMF Industries, Inc, Monti Inc. Manufacturing and Prince Manufacturing, Inc. are the major companies operating in the North America Fabricated Metal Products Market.

NORTH AMERICA FABRICATED METAL PRODUCTS MARKET Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)