Sheet metal market analysis
According to a new market report, the global sheet metal market size is valued at US$ 408.31 billion by 2028 and expected to grow at a rate of 4.70% from 2021 to 2028. The latest Data Bridge Market Research report on the sheet metal market provides analysis and insights into various factors expected to be prevalent throughout the forecast period.
“Major factors accountable for the growth of the sheet metal market include rapid increases in automobile production across the globe, increases in the building and construction industry and growing demand for sheet metal in the aerospace and defence industries. Beside this, the increasing demand for sheet metal in energy and consumer electronics industries (applications such as washing machines, wind turbines, pipelines and microwaves) has positively impacted the sheet metal market,” said the analyst.
“Rapidly increasing urban populations coupled with a [growing] manufacturing sector is also helping the market to grow. Various regulatory policies prioritizing growth and opportunity within the HVACR industry, as well as increasing 3D printing techniques for sheet metal fabrications, are also helping market growth. The rising deployment of CNC machine tools for shaping and moulding sheet metal and advances in technology (such as jerk control, motion control software functions along with AI contour control which help to decrease cycle times and part manufacturing costs) will also offer a variety of growth opportunities for the sheet metal market,” it added.
The report confirms that North America leads the sheet metal market, owing to high demand for the product from various end-use industries (such as construction and automotive) in the region. Asia-Pacific is expected to expand at significant growth levels because of differing manufacturing environments in emerging countries in the region.
For further details, see https://www.databridgemarketresearch.com/reports/global-sheet-metal-market