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Sheet Metal Fabrication Services Market size is set to grow by USD 3.31 billion from 2024-2028, Increasing demand for fabricated metal parts in major end-user industries to boost the market growth, Technavio

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NEW YORK, July 26, 2024 /PRNewswire/ — The global sheet metal fabrication services market size is estimated to grow by USD 3.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.27% during the forecast period. Increasing demand for fabricated metal parts in major end-user industries is driving market growth, with a trend towards advent of additive manufacturing. However, lack of skilled workforce poses a challenge. Key market players include All Metals Fabricating Inc., BTD Manufacturing, Classic Sheet Metal Inc., Cupples J and J Co. Inc., Diehl Stiftung and Co. KG, Dynamic Aerospace and Defense Ltd., Ironform Corp., Kapco Metal Stamping, Marlin Steel Wire Products LLC, Mayville Engineering Co. Inc., Metal Fab Services Inc., Metal Working Group, Metcam Inc., Moreng Metal Products Inc., Noble Industries Inc., ONeal Manufacturing Services, Otter Tail Corp., Quality Sheet Metal Inc., Ryerson Holding Corp., and Standard Iron and Wire Works Inc..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Automotive, Industrial machinery, Electrical and electronics, Aerospace and defense, and Others) and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

All Metals Fabricating Inc., BTD Manufacturing, Classic Sheet Metal Inc., Cupples J and J Co. Inc., Diehl Stiftung and Co. KG, Dynamic Aerospace and Defense Ltd., Ironform Corp., Kapco Metal Stamping, Marlin Steel Wire Products LLC, Mayville Engineering Co. Inc., Metal Fab Services Inc., Metal Working Group, Metcam Inc., Moreng Metal Products Inc., Noble Industries Inc., ONeal Manufacturing Services, Otter Tail Corp., Quality Sheet Metal Inc., Ryerson Holding Corp., and Standard Iron and Wire Works Inc.

Key Market Trends Fueling Growth

The sheet metal fabrication services market is experiencing significant transformation due to the adoption of 3D printing technology, also known as additive manufacturing. This innovative technology constructs 3D objects using digital files and builds the product in thin layers. Traditional manufacturing techniques are subtractive in nature, resulting in high material wastage and added costs for reclaiming scrap. In contrast, 3D printing optimizes material usage and reduces raw material and capital costs. Moreover, 3D printing enables the production of complex geometries that are challenging to manufacture through traditional methods. In the context of sheet metal fabrication, this technology is particularly beneficial for creating dies used in machine tools for punching processes. Dies, such as V-shaped, U-shaped, and 90-degree angle production, are expensive and have long lead times, delaying the metal processing process. With the advent of 3D printers, dies and tools can be produced quickly and cost-effectively using fiber-reinforced polymer. Furthermore, 3D printing allows for the manufacture of cost-effective parts that are significantly cheaper than traditionally manufactured parts, offsetting the high initial cost of the 3D printer. The advancements in 3D printing technology and its increasing adoption are expected to lead to a complete shift in the manufacturing process, ultimately driving the growth of the global sheet metal fabrication services market during the forecast period. 

Sheet metal fabrication is a thriving industry, focusing on creating metal products from flat metal sheets. Key trends include assembly networks for improved operational efficiency, novel materials like aluminum, brass, silver, stainless steel, carbon steel, and high strength alloys. Infrastructure investments in bending technology, such as plasma and 3D printing, and machining processes like cutting, welding, and robots, drive affordability and durability. Prominent players leverage machine learning for defect reduction. Lightweight components, essential in the defense and space industries, are in high demand. Metal cutting and bending technology advancements, including plasma and 3D printing, revolutionize production. The construction sector and infrastructure sectors rely on sheet metal fabrication for metal reinforcements in skyscrapers, railway bridges, residential units, and industrial shades. Ductwork, rain gutters, and other applications further expand the market. The defense sector continues to invest in sheet metal fabrication for defense equipment, satellites, and rockets. 

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Market Challenges

The sheet metal fabrication industry is experiencing a resurgence due to increased demand for commodities, leading to the modernization of manufacturing units. CNC machines are replacing traditional fabrication shop floor machines, enhancing efficiency, product quality, and customer satisfaction. However, a significant challenge arises from the lack of a skilled workforce, particularly in welding. This process accounts for approximately 80% of the cost in the field. The shortage of welders is a pressing issue, with the US, India, and China facing this problem acutely. The American Welding Society predicts a deficit of 400,000 welders in the US alone by 2024. The manufacturing sector’s lack of qualified labor results in increased labor costs due to overtime and longer production cycles, leading to inferior quality products and extended lead times, negatively impacting fabricators’ revenue.The Sheet Metal Fabrication Services Market faces several challenges in various industry verticals, including defense, aerospace, energy, and aviation. Key products include panels, brackets, enclosures, and components made from metals like steel, aluminum, silver, foil, plate, and casting. Pitfalls and Challenges include intense competition, sustainability, and recyclable metals. Smart manufacturing, industrial automation, and digitization through technologies like artificial intelligence, robotics, building information modeling, on-demand manufacturing, collaborative robots, e-commerce platforms, and cutting, punching, stamping, forming, bending, welding, and finishing are essential for overcoming these challenges. The market serves clients in academia, defense, aerospace, energy, and aviation industries, with data sources including industry reports and business metrics. Sustainable practices are crucial, focusing on reducing waste and ensuring eco-friendly processes.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This sheet metal fabrication services market report extensively covers market segmentation by

End-user 1.1 Automotive1.2 Industrial machinery1.3 Electrical and electronics1.4 Aerospace and defense1.5 OthersGeography 2.1 APAC2.2 North America2.3 Europe2.4 South America2.5 Middle East and Africa

1.1 Automotive- The sheet metal fabrication services market experiences significant demand from the automotive industry due to the extensive usage of fabricated metal parts in various vehicle components. These parts include bus bars, terminals, electrical contacts, brackets, lead frames, shields, clips, and press-fit pins, which are essential for fuel delivery systems, chassis, batteries, motors, lights, engines, seating, alternators, steering wheels, security systems, brake systems, and fuel systems. However, the automotive industry’s decreased capital expenditure (CAPEX) investments from Q1 2020 by global automotive OEMs may negatively impact sheet metal fabricators’ revenue during the forecast period. To maintain historical growth, Technavio predicts that changes in production processes and increasing investments, particularly in APAC countries like India, Indonesia, and Japan, will be crucial. Moreover, collaborations and R&D investments by key players such as BYD Auto Co. Ltd. (BYD) and Toyota Motor Corporation in the electric vehicle market will create opportunities for sheet metal fabricators in APAC during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Sheet Metal Fabrication Services Market is experiencing significant growth due to increasing demand from various industries such as aerospace, energy, and construction. However, this market is not without its pitfalls and challenges. Intense competition and the need for sustainable practices are major hurdles for businesses. Sustainable practices, including the use of eco-friendly materials and energy-efficient manufacturing processes, are becoming increasingly important. Building information modeling (BIM) and on-demand manufacturing are transforming the industry by enabling faster and more accurate production. Industrial automation, artificial intelligence, robotics, digitization, assembly networks, and metalworking are key trends driving innovation in the market. Defects in sheet metal fabrication can lead to significant losses, making quality control a top priority. Novel materials, such as foil and plate, are being explored to improve product performance and reduce costs. Key industry products include CNC machines, lasers, press brakes, and shears. Data sources include industry reports, market research, and company financial statements. Business metrics such as revenue growth, market share, and profitability are closely monitored. Industry verticals include automotive, construction, HVAC, and appliances.

Market Research Overview

Sheet metal fabrication services involve the creation of metal products from flat metal sheets using various processes such as cutting, punching, stamping, forming, bending, welding, and finishing. This market faces several pitfalls and challenges, including intense competition, the need for sustainable practices, and maintaining operational efficiency. The industry is undergoing digitization with the adoption of building information modeling, on-demand manufacturing, collaborative robots, e-commerce platforms, and industrial automation. Novel materials like aluminum, brass, silver, stainless steel, carbon steel, high strength, and electrical conductivity are in demand for their durability and affordability. Sectors such as defense, space, construction, infrastructure, and aviation are major consumers of sheet metal fabrication services. Defects in the manufacturing process can be a significant challenge, requiring constant quality control measures. Emerging technologies like plasma cutting, 3D printing, robotics, machine learning, and 3D bending technology are transforming the industry. Business metrics and data sources are essential for tracking industry trends and making informed decisions.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userAutomotiveIndustrial MachineryElectrical And ElectronicsAerospace And DefenseOthersGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

LITEON Debuts Integrated AI Cloud Server Rack Solutions Powered by NVIDIA at 2024 OCP Summit

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Pioneering Green Data Centers with Five Key Technologies: Power Supplies, Liquid Cooling, Racks, Software, and Systems

AI. Revolutionized. Green Resilience.

SAN JOSE, Calif., Oct. 17, 2024 /PRNewswire/ — LITEON Technology (2301.tw) is participating in the 2024 OCP Global Summit ( Open Compute Project ) in San Jose, USA, from October 15 to 17. Under the theme “AI. Revolutionized. Green Resilience,” LITEON will debut its new “Integrated AI cloud server rack solution.” This solution combines LITEON’s five key technologies: high-performance power supplies compliant with ORV3 standards, comprehensive liquid cooling systems, integrated mechanical design, intelligent power management software, and hardware-software system integration. Additionally, LITEON will showcase power supplies, racks, and liquid cooling systems compatible with NVIDIA architectures at the event. These include support for the NVIDIA GB200 NVL72 platform with a high-efficiency power system and NVIDIA MGX™ with modular system design racks, as well as liquid-to-liquid and liquid-to-air cooling solutions from LITEON. These innovations aim to enhance high-performance computing capabilities, efficient energy management, and cooling performance in data centers during the AI era, helping customers achieve low-carbon green data center energy management goals and creating comprehensive high-end AI computing system solutions.

Anson Chiu, the president of LITEON, states: “The AI-driven era has already transformed lifestyles and industries. Leveraging our deep technical expertise in high-end cloud server power supplies, LITEON integrates five key core capabilities: power, cooling, racks, software, and systems. This showcases LITEON’s comprehensive autonomous design and development technology. We continue to create sustainable and high-performance integrated server rack solutions, helping our customers achieve sustainable operations in green data centers, and pioneering a revolutionary new landscape in the AI field.”

“LITEON COOLING,” LITEON’s comprehensive liquid cooling solution, brings revolutionary changes to the cooling systems of green data centers, meeting the high-performance AI computing needs of data centers. At this event, LITEON showcases five liquid cooling series products. These include a fanless design 5600W Cold Plate Power Supply Unit with titanium-level efficiency, a liquid-to-liquid multi-intelligent in-row CDU 600kW,, liquid-to-liquid 120kW in-rack CDU compatible with the NVIDIA GB200 NVL72 platform, and liquid-to-air 140kW sidecar with the highest heat exchange efficiency, also compatible with the NVIDIA GB200 NVL72 architecture. These solutions offer flexible combinations for customers to meet various field and application needs, overcoming the limitations of traditional air cooling, significantly improving cooling efficiency, and enabling data centers to maintain high-performance workloads while reducing energy and carbon footprint consumption, creating more environmentally friendly green resilient data centers.

At this OCP exhibition, LITEON also showcases integrated cabinet power systems and solutions. These provide 97.5% high-density power conversion efficiency to meet the high-performance computing applications of AI servers. Additionally, LITEON’s self-developed intelligent power management system (PMC) offers customers digital management and remote real-time monitoring to assist decision-making, along with a robust power backup system featuring high-efficiency lithium battery backup power (BBU). Supported by intelligent power management software, it visualizes energy consumption patterns to ensure data center reliability.

LITEON integrates the advantages of five core energy management technologies, combining mechanical design, power system solutions, thermal management technology, and hardware-software integration capabilities. Paired with revolutionary server liquid cooling solutions, the integrated server rack design provides customers with rapid deployment in data center applications, committing to the advanced development of green resilient data centers.

For more information about LITEON’s power and liquid cooling solutions of green data center, please visit : https://www.liteon.com/en/solutions/green-data-center

LITEON’s Booth of OCP 2024 Information :

Date: October 15 – 17, 2024Location: San Jose McEnery Convention CenterBooth No.: C17-18Contact: Simon.Ong@liteon.com

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SOURCE LITEON Technology

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Taobao Malaysia Kicks Off 11.11 Sale, First Time in Both Chinese and English

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Exciting early-bird perks await new and existing Malaysian users

KUALA LUMPUR, Malaysia, Oct. 18, 2024 /PRNewswire/ — The highly-anticipated Taobao 11.11 Sale (“11.11”) is back, set to be bigger and more inclusive for Malaysian consumers. With the theme “Shop As Far As You Can Think,” this year’s festival promises attractive offers and an unparalleled shopping experience made even more accessible through Taobao’s beta English Interface, introduced in September to complement the Chinese version.

Starting from 21 October, 8pm, Malaysian shoppers can indulge in a month-long celebration of exciting promotions, enticing instant discounts and chances to grab daily free shipping vouchers worth RM21, discovering exceptional bargains on a wide range of products across participating brands and merchants, from home essentials and fashion items to electronics accessories and more.  

Jess Lew, Country Manager for Tmall Taobao World, Malaysia, said, “We are thrilled to bring Taobao’s 11.11 Sale back to Malaysian consumers and enhance it to be bigger and better than ever. Our commitment is to create a shopping experience that is not only enjoyable but also tailored to the unique needs of local shoppers. With the beta English Interface now available, it has never been easier for everyone in Malaysia to immerse themselves in the excitement of this global shopping festival and discover all that Taobao has to offer.”

The festival kicks off with an early first sales window, running from 20:00:00 on 21 October to 23:59:59 on 24 October 2024, allowing shoppers ample time to check out their shopping cart items to enjoy early-bird 11.11 savings and early arrivals. The second phase will then follow, starting from 20:00:00 on 31 October and running until 23:59:59 on 11 November, where consumers enjoy extended promotional offers to secure their ideal products for the upcoming Christmas and Chinese New Year seasons.

Malaysia was one of the only two markets, alongside Singapore, where Taobao has rolled out a beta English Interface. Featuring artificial intelligence (AI)-powered translations, the new interface aims to bridge language barriers and provide non-Chinese-speaking Malaysian users with the opportunity to enjoy the platform’s diverse offerings in a seamless, user-friendly experience.

“We hope more Malaysian users will leverage this opportunity to shop for anything that comes to mind during this 11.11. Coupled with free shipping, shoppers can have their parcels delivered to their doorsteps in as fast as one week with our robust end-to-end logistics infrastructure,” added Lew.

To mark this year’s 11.11, Taobao Malaysia has curated a series of attractive promotions designed to give Malaysian consumers more ways to save:

Everyday Free Shipping: Stand a chance to grab free shipping vouchers daily at 10am worth RMB35 (equivalent to RM21) throughout the 11.11 period with no minimum spend.Buy More, Save More: Get a platform-wide discount of RMB50 for every RMB300 spent (equivalent to RM29 off for every RM170 spent).Surprise Instant Discounts: Check out daily at 8pm from 21 to 24 October to unlock an instant discount of up to RM300.Daily Promo Codes: Stand a chance to snag promo codes worth up to RMB111 (equivalent to RM66), released daily at 9pm on Taobao Malaysia’s Facebook and Instagram.New User Perks: New Taobao app users can claim exclusive benefits worth up to RM90, including:3 x Free shipping vouchers worth RMB105 (equivalent to RM65) in totalRMB30 off with a minimum spend of RMB31 (equivalent to RM18 off with a minimum spend of RM19)Service fee waiver of up to RMB15 (equivalent to RM10)Free return on first order (for West Malaysia only)

Additionally, Taobao Malaysia users making purchases with one of the following credit cards provided by third-party financial institutions can enjoy an instant discount of up to RM80 during the selected promotional periods:

31 October to 3 November; 10 to 11 November, 8PMCIMB: RM25 off with a minimum spend of RM180RHB: RM38 off with a minimum spend of RM250 OR RM50 off with a minimum spend of RM500PBB: RM30 off with a minimum spend of RM300 OR RM80 off with a minimum spend of RM600

Only on 31 October, 10AMRHB: RM25 off with a minimum spend of RM250

Only on 8 November, 10AMPBB: RM20 off with a minimum spend of RM200

The Taobao app is available to download for FREE on both the Apple App Store and Google Play Store. For more details on Taobao Malaysia’s 11.11 promotions, please stay tuned for updates on the Taobao Malaysia Facebook, Instagram and TikTok social media channels or visit the Taobao app.

* The platform rules will prevail over the specific promotion details.

About Taobao Malaysia
Taobao Malaysia aims to facilitate convenient shopping on Taobao and Tmall for consumers in Malaysia. Through the Taobao app, Malaysian shoppers can access billions of products, complete with logistics, payment and other services and offers tailored to their individual market needs. Taobao Malaysia is part of Alibaba International Digital Commerce Group.

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SOURCE Taobao Malaysia

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Sennheiser launches the MD 421 Kompakt – an appropriately named, compact version of legendary all-rounders, the MD 421 and MD 421-II

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“Anything. This is the mic for that.”

SINGAPORE, Oct. 18, 2024 /PRNewswire/ — They say that if you’ve heard music, you are most likely to have heard the MD 421, a Sennheiser microphone featured in countless award-winning performances and productions over the past six decades. Now Sennheiser launches the MD 421 Kompakt, an incredibly versatile microphone that delivers the same legendary performance, but in a truly multipurpose package — including a completely redesigned mounting clip. The MD 421 Kompakt features a cardioid pick-up pattern and remarkable dynamic range, delivering crystal-clear sound reproduction in live sound and recording applications.

“The MD 421 is an incredibly versatile microphone. Since its inception in 1960, it excelled as a studio and a vocal microphone, but was also used a lot in broadcasting, where it appeared with many celebrities of the time. Today, its successor, the MD 421-II, which launched in 1998, is an all-rounder for multipurpose miking and well known to be used on drums, guitar cabs and horns,” says Bertram Zimmermann, Manager Live Sound & Studio. “It works on anything, capturing the sound source with precision, detail, and rich sound.”

“With the MD 421 Kompakt, we’re offering the same legendary sound and ability to handle high sound pressure levels, but with an incredibly compact form factor,” adds Jimmy Landry, Category Marketing Manager MI.

Compact design, same great sound

To give the MD 421 microphone its compact dimensions all while retaining the large-diaphragm capsule and the pristine sound of the much bigger MD 421-II, the bass roll-off switch was eliminated. “While this feature made total sense when the MD 421 was designed, and was carried over to the MD 421-II, this functionality has long since been taken over by mixing desks and DAWs,” says Zimmermann. “Omitting the switch allowed us to create a relatively small microphone body, making the Kompakt an ideal tom mic, but also a versatile tool for any recording or live application.”

Sound-wise, the MD 421 Kompakt delivers the same detailed and authentic reproduction of the sound source that the MD 421 and MD 421-II have become famous for. The microphone’s frequency response of 30 Hz to 17 kHz faithfully reproduces both high and low frequencies, with a bass tube ensuring an accurate and extended low-end response. The sound is rich and full-bodied, and incredibly clear and detailed at the same time.

The MD 421 Kompakt also provides effective feedback rejection, and is able to handle exceptionally high sound pressure levels even in demanding environments.

New clip

The clip of the MD 421 Kompakt has been entirely redesigned, and is now part of the microphone housing for easy, worry-free mounting. “The clip is the one thing that users have always criticised,” remarks Landry. “The new clip is an integral part of the mic, and the optional drum clamp securely screws into this clip, ensuring fail-safe mounting on drums.”

Rugged all around

The MD 421 Kompakt is designed to withstand the rigours of touring and heavy studio use. It features a rugged frame with a stainless-steel basket, and a gold-plated XLR-3 connector. A protective inner chassis enclosure reduces the exposure to dust and humidity.

Availability and pricing

The MD 421 Kompakt is available now for EUR 279 (MSRP), the version for drums comes complete with an MZH drum clamp and retails at EUR 299 (MSRP). The MZH drum clamp included with the drum version is also available separately for EUR 19 (MSRP). The MD 421-II will remain in the portfolio alongside the MD 421 Kompakt.

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SOURCE Sennheiser Electronic Asia Pte Ltd

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