Navigating Growth in Metal Fabrication

The metal fabrication industry is expanding, facing challenges while emphasizing innovation, sustainability, and technology adoption.

Metal Fabrication

Market Analysis

The global and U.S. metal fabrication market is experiencing steady growth, with the U.S. market projected to expand from USD 22.4 billion in 2024 to USD 27.4 billion by 2030, at a 3.4% CAGR. This growth is fueled by robust construction activity, increased investments in the energy sector, rising automation, and ongoing technological advancements. The reshoring of manufacturing to the U.S. further strengthens the industry's outlook. However, the sector is challenged by labor shortages, inflationary pressures, supply chain disruptions, and competition from metal substitutes, which may impact long-term growth and operational efficiency.
~
$
22.4
B

Market Value 2024 (U.S)

~
$
27.4
B

Market Value 2030 (U.S)

3.4
%

CAGR (U.S)

Key Market Drivers

Expansion of the construction sector

Investments in the energy and power industry

Rise in automation

Market Inhibitors

U.S. labor shortage

Inflation

Supply chain disruptions

Our Insights

The evolving metal fabrication landscape demands agility and strategic foresight. Business owners should embrace automation, digitalization, and sustainability—not merely as compliance measures, but as pathways to competitive differentiation and operational resilience. With industry consolidation and disruptive entrants intensifying competition, specialization and value-added services offer vital growth levers. Addressing labor shortages and cost pressures through upskilling and process innovation is paramount. Furthermore, proactive regulatory compliance and ethical sourcing can unlock new market opportunities, particularly as customer segments prioritize customization and environmental stewardship. Ultimately, success hinges on continuous model refinement, R&D investment, and an unwavering focus on shifting customer needs.

Key Players in The Industry

Mayville Engineering Company (MEC)

Leading supply chain partner for OEM manufacturers in heavy and medium-duty commercial vehicles, construction, agriculture, military, and other industries. Offers a broad range of services from prototyping to aftermarket support.

Anchor Fabrication

Custom metal fabrication services

Ironform

Tier 1 metal fabricator

Recent
M&A Activity

* The global metal fabrication market is projected to grow from $21.7 billion in 2024 to $22.9 billion in 2025, representing a CAGR of 5.6%. * Domestic industrial policy favors North American metals supply, driving M&A activity. * Metals M&A activity has softened YOY, with 63 deals announced or completed YTD, an 18.2% decrease from YTD 2023. * Reliance (NYSE:RS) rebranded to drop Steel & Aluminum from its name, signaling a push for diversity in metals mix amid an aggressive acquisition program. * FABTECH panelists predict robust growth for the metal fabrication industry by the end of 2025. * Consolidation of ownership is ongoing in the metal fabrication industry.
Merger
October 24, 2023
Summit Steel & Manufacturing Inc., Fairlawn Tool Inc., Laser Specialties Inc., and Summit Storage Solutions
Create single-source solution, reduce costs, improve quality, enhance customer experience.
Acquisition
January 2, 2023
Olympic Steel acquires Metal-Fab, Inc.
Diversify and grow in higher-return products/services, reduce earnings volatility.
Acquisition
April 2024
Reliance (NYSE:RS) acquires Midwest Materials
Expand Reliance's metals mix and market presence.

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