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NEW YORK , April 12, 2022 /PRNewswire/ -- The global sheet metal market size is expected to increase by USD 76.39 billion between 2021 and 2026, expanding at a CAGR of 4.14% during the forecast period. The report covers a detailed analysis of recent developments, new product launches, major revenue-generating segments, and market behavior across geographies. The report also offers a comprehensive analysis of the drivers, trends, and challenges impacting the growth of the market.
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The market is driven by the growth in the machine tools market. The manufacturing industry is observing significant growth in developing countries such as China and India with the launch of various industry-friendly policies by governments. This has led to the establishment of various manufacturing facilities in these countries which has increased the demand for machine tools. The machine tools market is also witnessing significant growth owing to other factors such as rising automobile production, increasing investments in renewable power projects, and technological innovations across various sectors such as semiconductors, heavy equipment, and robotics. All these factors are fostering the growth of the global machine tools market. This, in turn, is increasing the production of sheet metals, thereby driving the growth of the market in focus.
As per Technavio, the adoption of 3D (3 dimensional) technologies for sheet metal production will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2022-2026.
Sheet Metal Market: Adoption of 3D (3 dimensional) technologies for sheet metal production
Vendors in the market are considering the adoption of 3D technologies to improve the efficiency of production and gain an edge over their rivals. For instance, the use of 3D printing technology reduces the operating cost and turnaround time. This is driving many end-users across the automotive and aerospace industries to invest in such technologies. Over the forecast period, the 3D printing market in the aerospace industry is expected to reach nearly USD 3 billion . Many such developments are expected to significantly increase the demand for sheet metal and drive the growth of the market.
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Sheet Metal Market: Segmentation Analysis
This market research report segments the sheet metal market by end-user (building and construction, automotive, machinery, and others) and geography (APAC, Europe , North America , Middle East and Africa , and South America ).
The APAC region led the sheet metal market in 2021, followed by Europe , North America , the Middle East and Africa , and South America respectively. During the forecast period, APAC is expected to register the highest incremental growth due to increasing sales of automobiles and the rising number of construction activities in the region. China and Japan are the key markets for sheet metal in APAC. The market growth in the region will be faster than the growth of the market in other regions.
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Some of the key topics covered in the report include:
Organometallics Market by End-user and Geography - Forecast and Analysis 2022-2026
3D-printed Composite Materials Market by Type and Geography - Forecast and Analysis 2022-2026
Accelerate at a CAGR of 4.14%
APAC, Europe, North America, Middle East and Africa, and South America
US, Canada, China, Japan, Germany, and UK
Leading companies, competitive strategies, consumer engagement scope
A and E Manufacturing Co. Inc., ABC Sheet Metal, Acosta Sheet Metal Manufacturing Inc., Alcoa Corp., Arconic Inc., Avitron Components Pvt. Ltd., Baosteel Group Corp., Bud Industries Inc., Constellium SE, General Sheet Metal Works Inc., Hindalco Industries Ltd., Hulamin Ltd., JFE Holdings Inc., Kaiser Aluminum Corp., POSCO, Prototek Holdings LLC, Shanghai Metal Corp., Tata BlueScope Steel Pvt. Ltd., Tata Sons Pvt. Ltd., Tenere Inc., and United States Steel Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period.
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About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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Contacts Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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