The pundits of stainless steel and metal fabrication, Brooklynz Stainless Steel, studied the trends in the industry to build a snapshot of the upcoming decade.
To know more about Brooklynz and how they are changing the game of metal fabrication in Singapore with their services and metal products, visit:
The procedure of forming metal structures using raw metalwork pieces is known as metal fabrication. It is a value-added service because it includes completely deforming the raw material and then reforming it in a new structure. The process necessitates numerous sub-processes like metal cutting, metal machining, metal forming, and metal welding.
Commonly, a metal fabrication service provider caters to many services under one roof including shearing, cutting, and welding. A metal fabricator depends on iron and steel manufacturers, resellers, and building contracts to satisfy the requirements of clients. This interlinking necessitates a close on the entire industry, including trends and growth.
On the Metal Fabrication Global Industry Trends 2019 report, Brooklynz notes, “The Sheet Metal Fabrication Services market has an estimated growth CAGR of 2.55% over the next four years. Most of it can be contributed to the heavy investment of defense, construction, automotive and aerospace industry. They are the growth drivers in the field. Moreover, metal fabrication is now an imperative part of almost all end-user industries. It is promoting the expansion of the sector even more. The demand for metal fabrication products is only going to rise in the coming half-decade.”
The report also elucidates the regions fueling the rise of metal fabrication. The constant development, along with the massive investment in the APAC region, is augmenting the market for metal and stainless-steel products. It has created mammoth opportunities for not just vendors but also manufacturers. Currently, the APAC region accounts for 43% of the market in terms of revenue.
A representative of Brooklynz Stainless Steel noted, “End-user industry and development in the Asia Pacific is just the tip of the iceberg. The metal fabrication sector has also benefitted from technological evolutions in manufacturing. As the segment evolves with time thanks to the advancement in technology, it pushes metal fabrication further too. We are just at the start of the growth. Globally, metal fabrication is set to achieve the USD 21 billion mark by 2024. Considering the market value was a mere USD 16 billion in 2015, it is tremendous progress.”
Industry-wise, construction holds the maximum share of the metal fabrication market. It is predicted that the industry will hold its position until 2023. When seen growth-wise, then the manufacturing industry will outbid the end-user segment in metal fabrication.
The report by Brooklynz also touches upon ERP technologies and software and their impact on metal fabrication. The advancement in these tools has made data more accessible for fabricators, which has eased decision making. Operational productivity and efficiency have also enhanced due to computer-aided manufacturing technologies. The only threat the industry faces is from 3D printing, but that day is far in the future currently. The present advancements and investments all but ensure that the worldwide metal fabrication market attains a higher level in the coming period.
This Press release is made on behalf of “Brooklynz Stainless Steel Pte Ltd.” by DigitalSEO a Digital Marketing Company in Chennai. DigitalSEO is the digital marketing expert responsible for creating Brooklynz online footprint and aiding in capturing a part of the market. To know more about DigitalSEO and to get an insight into the services they offer, contact their Digital Marketing and SEO team in Chennai.
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About Brooklynz Stainless Steel Pte Ltd.
A tier one company, Brooklynz Stainless Steel designs, builds, assembles and installs stainless steel and metal products for a variety of industries. They cater to an end to end service within the metal fabrication umbrella. A few sectors they have delivered to are residential, commercial, and governmental. Founded in 2012, the stainless-steel manufacturers and suppliers have made an indelible mark in the field.
For more information, you can visit: https://www.brooklynz.com.sg/