The report below gives a good overview of the Spring 2023 M&A activity in the Metal Fabrication Industry Sector. The size of the global metal fabrication industry is expected to reach $27.7 billion by 2031, growing at a CAGR of 3.3%, during the period 2022-30, as per a report published by Transparency Market Research. Precision welding services are anticipated to grow at a CAGR of 4.2%, during the period 2022-31, despite challenges in the custom Metal Fabrication industry, as per a report published by Fox Valley Metal-Tech. Customer demand for met fab products has remained high despite rising rates and metal fab manufacturers continue to be optimistic about demand over the coming quarters. Metal fab manufacturers are approving and adding on new orders despite expected procurement delays and higher lead times. Metal fabrication companies are increasingly investing in automation and other technology that would allow them to overcome skill gaps and labor shortages. Investments in automation and robotics in the fabrication and welding industry are expected to increase from 17.9% in 2022 to 22.0% in 2023, as per Shop Business Outlook's 2023 survey.
Posted by Jim Zipursky.