London, 09 October 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Fabricated Metal Products Market in the US 2014-2018, which is expected to grow with a CAGR of 7.34 percent during 2014-2018.
Metal fabrication is a value-added process that involves the construction of machines and structures from various raw materials. These value-added processes such as welding, cutting, forming, and machining are performed in a single plant or facility. Metal fabrication usually starts with making a sketch of the structure that needs precise measurements, then moves to the fabrication stage, and lastly to the installation of the final project.
“Manufacturers across industries are undertaking extensive cost-cutting measures to reduce their production expenses,” says Faisal Ghaus, Vice President of TechNavio.
“Manufacturers expand their focus on cost-cutting measures to further reduce the inventory, material, and distribution costs. They also take necessary steps to control the flow of materials and financial information across multiple plant locations to maximize productivity.”
Key Market Drivers
- Increased Demand for Fabricated Metal Products from Automotive Industry
- Increase in Private Non-residential Fixed Investments
- Increased Usage of Rapid Tooling
Key Market Trends
- Increase in Advances in Technology
- Extensive Cost-cutting Pressure
- Increase in Mergers and Acquisitions
Key Market Vendors
- Ball Corp.
- Schaeffler AG
- Timken Company
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
