India
metal fabrication market is anticipated to grow at a high CAGR in the forecast
period 2025-2029. Rise in demand for automated manufacturing systems across the
country is thrusting the India metal fabrication market. Adoption of robotics,
computer-aided engineering, and ERP software aids in making manufacturing
facilities safe, improves productivity, and lowers the labor cost. Metals are
adaptable materials that are extensively used in numerous industries. Metal
fabrication workshops offer value-added services under a single roof such as
welding, cutting, machining, and shearing.
Metal
fabrication is the procedure of manufacturing sheet metal and other flat metals
to construct them conform to specific shapes. Using this metal, fabricators
alter the sheet to create a specific shape. This takes place through cutting,
stamping, shaping, folding, and welding. Another related practice is custom
fabrication, which means the fabrication of new custom parts using novel
combinations of these processes.
The
market for metal fabrication in India is gradually opening to the use of new
age technologies and solutions due to the increased advancements in fields like
computerization and robotics. Rising demand for metal processing and machining
across the country is anticipated to drive the India metal fabrication market
over the anticipated timeframe.
India
Metal Fabrication Market: Drivers
Increasing
Number of Manufacturing Plants
The
rising demand for goods and services across various sectors in India is
expected to drive the Indian manufacturing sector. In addition, global
manufacturing companies are focusing on diversifying their production by
setting-up low-cost plants in countries like China and India. The Indian
manufacturing sector is projected to be valued at USD 1 trillion by 2025,
registering six times more growth than the current value. This expansion is
expected to enhance the number of manufacturing capacities in the country,
driving the demand for the metal fabrication. For instance, since 2014, the
number of mobile manufacturing facilities established in India has increased by
more than 60 times. It demonstrates the overall demand in the market under
study as a result of the rising number of industrial facilities in the nation.
The Singapore-based business services and electronics manufacturer Flex
inaugurated a new production plant in Chennai in July 2019, bringing its total
number of manufacturing locations in India to four.
According
to some industrial sources, as of July 2019, the country had planned to open
four giga factories to manufacture batteries, with an investment of around USD
4 billion, as the country prepares to shift to electric vehicles. Moreover,
according to the US-India Strategic and Partnership Forum (USISPF), around 200
US companies are planning to shift their manufacturing plants to India.
Infrastructure
Development Activities
The
infrastructure development activities by the Government of India are among one
of the major driving factors likely to boost the India metal fabrication market
over the next few years. Government initiatives, such as the construction of
metro stations, new no-frill airports, international terminals, industry
corridors, power plants, and ports, and others that require heavy steel
structures are expected to drive the growth of the India metal fabrication
market. There is a huge infrastructure gap in the country. The government
estimates that infrastructure investment of USD 4.5 trillion may be needed
through 2040. Over the next few years, the capital expenditure is expected to
remain high for Indian infrastructure players across sectors.
Additionally,
the construction and infrastructure sector are the largest end-user vertical to
consume steel in India. In 2016, the construction and infrastructure sector
described for a major share of 62% of the overall Indian steel market.
In
June 2019, the infrastructure company, Larsen & Toubro (L&T) won a mega
order from SJVN Thermal Pvt Ltd to set up an ultra-supercritical power plant in
Buxar district of Bihar. The mega project is worth over INR 7,000 crore and the
scope of the work for the company includes design, engineering, manufacture,
procurement, supply, construction, erection, testing, and commissioning of
Buxar thermal power project.
In
July 2019, the Railway Ministry sought the approval of the Union Cabinet to
build three new dedicated freight corridor (DFC) networks for a total
investment of about INR 3 trillion. This includes development of East-West
Corridor (2,328kms) between Kolkata and Mumbai, and the North-South Corridor
(2,327km) between Delhi and Chennai, while the East Coast Corridor (1,114km) is
planned between Kharagpur and Vijayawada.
The
DFC project of Indian railways includes constructing five freight corridors
across the country. The railways, through its arm, Dedicated Freight
Corridor Corp. of India Ltd (DFCCIL), is already building the first two freight
corridors Eastern Freight Corridor from Ludhiana to Dankuni (1,856km) and
Western Freight Corridor from Dadri to Jawaharlal Nehru Port (1,504 km), for a
total cost of INR 81,000 crore.
In
2021, the railways planned to complete more than 60-70% of the work in the two
corridors and make them fully operational. Freight corridors are key to the
government’s infrastructure projects that seek to decongest railway network,
ensure faster movement of goods, increase the national carrier’s freight
capacity network, and reduce the overall logistics cost for companies. The
development of these freight corridors drives the metal fabrication market with
the construction of railway lines, and a lot of warehouses/storage terminals,
and other supporting infrastructure.
Additionally,
the Industrial Corridors that stretch across the country is aiming to push
“smart and sustainable cities” by leveraging on the high speed and high
connectivity transportation system in India. The central government has decided
to build these corridors along five stretches, which will see dedicated
construction of residential areas, public utilities, production units, schools,
and hospitals. Delhi – Mumbai Industrial Corridor (DMIC) is the flagship IC and
will act as model corridor for other stretches, including Bengaluru – Mumbai
Economic Corridor (BMEC), Chennai – Bengaluru Industrial Corridor (CBIC), Vizag
- Chennai Industrial Corridor (VCIC), and Amritsar – Kolkata Industrial
Corridor (AKIC).
India
Metal Fabrication Market: Trends
Automation
For Metal Fabrication:
Although
automation is not really a new trend, its popularity has increased in response
to the challenges many metal fabrication businesses have in finding trained
employees. Many skilled employees and craftsmen are driven to the metal
fabrication business due to new, innovative technologies like robots, additive
manufacturing, and automation. There are more options for job advancement and
training and working in this field is getting safer. The industry uses computer
numerical control (CNC) devices to automate a lot of processes. Due to their
ability to execute a variety of repeated jobs, CNC machines may be effective in
decreasing and in some circumstances, even completely eradicating some of the
most frequent repetitive stress injuries that affect many workers. Automation
technology may improve output versatility, overall productivity, efficiency,
and output quality while offering limitless customization options. In the field
of metal production, automation technology advancements are getting started
with CNS machines.
Digitization
For Metal Fabrication:
Metal
fabrication has been sluggish to adopt digitization in India, like many other
businesses. It is critical to understand that constructing a technology-based
platform does not include doing away with the human element. Instead, it
represents an improvement in terms of production and efficiency.
Data-driven
decision-making is yet another significant benefit of digitization. ERP systems
provide firms with the capacity to assess every aspect of their operations and
effectiveness. Initiatives for data interchange and simplification within
specific firms and the industry at large can benefit from this data. The
capacity of digitization techniques to gather, measure, and analyze data will
determine the direction of the metal production business in the future. These
measures provide for greater openness when assessing employees' talents and
general productivity while shedding light on overall efficiency.
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Market
Segments
India
metal fabrication market is segmented based on material type, end-user
industry, service, and region. Based on material type, the market is segmented
into steel, aluminum, and others. Based on end-user industry, the market is
segmented into construction, automotive, aerospace, manufacturing, energy &
power, electronics, and others. Based on service, the market is segmented into
casting, forging, machining, welding & tubing, and others. The market
analysis studies market segmentation, divided among north, east, west, and
south.
Market
Players
Major
players of India metal fabrication market are Salasar Techno Engineering Ltd.,
Kirby Building Systems, LLC, Pennar Industries Limited, ISGEC Heavy Engineering
Ltd., DMG MORI India Pvt. Ltd., Yamazaki Mazak Pvt. Ltd., TRUMPF (India) Pvt.
Ltd., LancerFab Tech Pvt Ltd, Interplex Electronics India Pvt. Ltd., and Kineco
Kaman Composites India Private Limited.
|
Attribute
|
Details
|
|
Base Year
|
2023
|
|
Historic Data
|
2019 –
2022
|
|
Estimated Year
|
2024
|
|
Forecast Period
|
2025
– 2029
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2019-2023 and 2024-2029
|
|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
|
Segments covered
|
Material Type
End-User Industry
Service
Region
|
|
Regional scope
|
North,
East, West, South
|
|
Key companies profiled
|
Salasar Techno Engineering Ltd., Kirby Building Systems, LLC,
Pennar Industries Limited, ISGEC Heavy Engineering Ltd., DMG MORI India Pvt.
Ltd., Yamazaki Mazak Pvt. Ltd., TRUMPF (India) Pvt. Ltd., LancerFab Tech Pvt Ltd,
Interplex Electronics India Pvt. Ltd., Kineco Kaman Composites India Private
Limited
|
|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
|
Report
Scope:
In
this report, India metal fabrication market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
- India
Metal Fabrication Market, By
Material Type:
o
Steel
o
Aluminum
o
Others
- India
Metal Fabrication Market, By End-User Industry:
o
Construction
o
Automotive
o
Aerospace
o
Manufacturing
o
Energy
& Power
o
Electronics
o
Others
- India
Metal Fabrication Market, By Service:
o
Casting
o
Forging
o
Machining
o
Welding
& Tubing
o
Others
- India
Metal Fabrication Market, By Region:
o
North
o
East
o
West
o
South
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in India metal fabrication market.
Available
Customizations:
India
metal fabrication market with the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed
analysis and profiling of additional market players (up to five).
India
metal fabrication market is an upcoming report to be released soon. If you wish
an early delivery of this report or want to confirm the date of release, please
contact us at
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