The Latest Sheet Metal Industry Statistics Explained
The global sheet metal market size valued at USD 265.0 billion in 2018.
The statistic indicates that the total value of the global sheet metal market reached USD 265.0 billion in 2018. This figure represents the collective worth of all sheet metal products traded and utilized across industries worldwide during that year. The market size is a key indicator of the scale and economic importance of the sheet metal industry, reflecting the demand for sheet metal in various sectors such as construction, automotive, aerospace, and manufacturing. The growth or contraction of the market size over time can provide insights into changing trends, economic conditions, and technological advancements impacting the sheet metal industry.
It is projected to expand at a CAGR of 5.0% in the forecast period 2019 to 2025.
This statistic indicates that the quantity being measured is expected to grow consistently over the forecast period from 2019 to 2025 at a Compound Annual Growth Rate (CAGR) of 5.0%. The CAGR provides a smoothed annual growth rate that takes into account the compounding effect over multiple years. A 5.0% CAGR suggests a moderate but steady growth trajectory for the variable in question. This projection can be valuable for businesses and analysts in understanding the expected trend and making informed decisions based on the anticipated growth rate.
The Asia Pacific region dominated the global market in 2018, accounting for over 45.8% share of the total revenue.
The statistic indicates that in 2018, the Asia Pacific region held a significant portion of the global market, surpassing other regions in terms of revenue generation by securing a share of over 45.8%. This dominance suggests that the Asia Pacific region played a crucial role in shaping the global market landscape that year. Factors such as economic growth, population size, market demand, and business activities in the region likely contributed to its strong performance. Companies operating in this region may have benefited from favorable market conditions, competitive advantages, or strategic positioning. Understanding this statistic helps to highlight the importance of the Asia Pacific market on a global scale and its potential impact on various industries and sectors.
The construction sector accounted for a significant share of more than 30.0% in 2018.
The statistic stating that the construction sector accounted for a significant share of more than 30.0% in 2018 suggests that this sector played a substantial role in the overall economy during that year. This means that more than one-third of all economic activities and output in 2018 were attributed to construction-related activities. This could indicate a strong demand for new infrastructure, residential, and commercial buildings, leading to increased investments, job creation, and overall economic growth. Additionally, the high percentage share of the construction sector may also indicate the sector’s importance in driving other related industries and contributing to the overall economic development of the country during that period.
The sheet metal market size in the United States was $20.4 billion in 2018.
The statistic stating that the sheet metal market size in the United States was $20.4 billion in 2018 represents the total value of sheet metal products sold within the country during that year. This figure reflects the economic importance and scale of the sheet metal industry, encompassing various products such as steel, aluminum, and other metals used in construction, manufacturing, and other sectors. Analyzing market size helps stakeholders, including businesses, policymakers, and investors, understand the industry’s significance, growth trends, and potential opportunities for expansion or improvement. Additionally, tracking market size over time enables comparisons and assessments of changes in demand, pricing, and overall market performance.
The sheet metal industry in the U.S. saw a growth rate of 2.4% between 2013 and 2018.
The statistic indicates that the sheet metal industry in the United States experienced a positive growth rate of 2.4% over the five-year period from 2013 to 2018. This growth rate suggests that the industry expanded during this time frame, likely driven by factors such as increased demand for sheet metal products, technological advancements, and economic conditions. A growth rate of 2.4% signifies a modest but steady increase in the industry’s output and overall health. This statistic can be used to analyze the industry’s performance, make forecasts, and inform decision-making for businesses operating within the sheet metal sector.
Around 5,800 businesses operate in the U.S. sheet metal industry.
The statistic “Around 5,800 businesses operate in the U.S. sheet metal industry” indicates the number of companies engaged in manufacturing sheet metal products in the United States. This figure reflects the competitive landscape and the level of industry fragmentation within the sheet metal sector. With nearly 6,000 businesses operating in the industry, it suggests that there is a diverse range of players involved in the production and distribution of sheet metal products across the country. This data point is essential for market analysis, understanding industry dynamics, and assessing the overall economic significance of the sheet metal industry within the U.S. economy.
The industry employs approximately 94,565 people in the United States.
The statistic “The industry employs approximately 94,565 people in the United States” indicates the total number of individuals working within a specific sector across the country. This figure reflects the workforce size in this industry and provides insights into the economic impact and scale of employment opportunities it offers. Understanding the number of employed individuals can help policymakers, businesses, and researchers assess the industry’s contribution to the overall economy, identify trends in workforce dynamics, and make informed decisions regarding labor market policies, training programs, and investment opportunities. This statistic serves as a quantitative measure of the industry’s labor force and its significance within the broader context of employment in the United States.
The Canadian sheet metal industry revenue was about CAD 1.85 billion in 2018.
The statistic that the Canadian sheet metal industry revenue was about CAD 1.85 billion in 2018 represents the total amount of money generated by companies within the industry during that year. This figure indicates the economic value produced by businesses involved in manufacturing and distributing sheet metal products in Canada. The revenue of CAD 1.85 billion provides insight into the size and significance of the sheet metal industry within the Canadian economy, reflecting the level of demand for sheet metal products and services during the specified time period. This statistic is crucial for understanding the financial health and performance of the sheet metal sector, as well as its contribution to the overall economy.
Aluminum sheet and plate manufacturing generated more than $6 billion in revenue in 2021.
The statistic that aluminum sheet and plate manufacturing generated over $6 billion in revenue in 2021 signifies a substantial economic contribution from this particular industry. This figure reflects the combined total of sales and revenues generated by companies involved in the production of aluminum sheets and plates throughout the year. The revenue generated highlights the significance of this sector within the overall economy, indicating a high level of demand for aluminum-based products such as sheets and plates, likely driven by various industries such as construction, automotive, aerospace, and packaging. The statistic showcases the industry’s financial strength and its integral role in the manufacturing sector.
From 2020 to 2030, the U.S. sheet metal market is expected to expand at a CAGR of around 4%.
This statistic indicates that the sheet metal market in the United States is anticipated to grow steadily over the decade from 2020 to 2030, with a Compound Annual Growth Rate (CAGR) of approximately 4%. A CAGR of 4% implies that the market size is projected to increase by an average of 4% annually throughout the period. This growth rate suggests that there is a positive outlook for the sheet metal industry in the U.S., with factors such as increased demand for sheet metal products, technological advancements, and expansion of various industries driving this growth. It also implies opportunities for businesses operating in this market to capitalize on the growing demand and potentially expand their operations during this time frame.
In the UK’s metal manufacturing industry, sheet metal process ranks as the third highest in terms of turnover, contributing £2.3 billion in 2019.
In the UK’s metal manufacturing industry, sheet metal processing is the third highest revenue-generating sector in 2019, contributing £2.3 billion to the industry’s total turnover. This statistic indicates that sheet metal processing plays a significant role in the overall financial performance of the metal manufacturing sector in the UK. The high turnover generated by this sector highlights its importance in the industry’s economic landscape and suggests that it is a major revenue driver. The substantial contribution of £2.3 billion underscores the financial significance of sheet metal processing within the metal manufacturing industry and signals its strong market presence and value.
In India, the demand for sheet metal in the Automotive industry is expected to grow at a healthy CAGR of 5% over the next decade.
The statement indicates that in India, there is a projected Compound Annual Growth Rate (CAGR) of 5% for the demand for sheet metal in the Automotive industry over the next ten years. This growth rate suggests that there will be a steady and consistent increase in the demand for sheet metal used in the automotive sector. The term “healthy” implies that this growth is considered positive and sustainable, potentially driven by factors such as growth in the automotive industry, increasing vehicle production, and technological advancements. This statistic reflects optimism for the future prospects of the sheet metal market in India’s automotive sector, highlighting opportunities for manufacturers, suppliers, and other stakeholders in the industry.
The North American sheet metal market is expected to show a CAGR(Compound Annual Growth Rate) of over 2.6% in the next few years.
This statistic indicates that the North American sheet metal market is forecasted to experience a Compound Annual Growth Rate (CAGR) of more than 2.6% over the coming years. A CAGR of 2.6% suggests a steady growth trend for the industry, with the market value expected to increase at a consistent rate over each year within the forecasted period. This growth rate reflects a positive outlook for the sheet metal market in North America, indicating potential opportunities for businesses operating in this sector to expand and capitalize on the anticipated market growth in the foreseeable future.
Automobile Industry was leading end-user segment for the global sheet metal market in 2017 and is expected to show the same trend over the forecast period.
The statistic suggests that in 2017, the automobile industry was the primary end-user of sheet metal globally, indicating that car manufacturers were the largest consumers of sheet metal products during that year. Furthermore, the forecast predicts that this trend is likely to continue in the future, as the automobile industry is expected to maintain its position as a key consumer of sheet metal over the upcoming period. This trend could be driven by factors such as continued demand for vehicles, advancements in automotive manufacturing technologies, and the use of sheet metal in various car components. Overall, this information highlights the significance of the automobile sector in driving the demand for sheet metal products both historically and moving forward.
HVAC is the primary area of usage for sheet metal products, accounting for 47% of the total usage in North America.
The statistic indicates that within the North American market, HVAC (heating, ventilation, and air conditioning) is the dominant sector where sheet metal products are utilized, representing nearly half (47%) of the total usage. This suggests that HVAC systems rely significantly on sheet metal components for their construction and functioning. The high percentage underscores the importance of sheet metal products in the HVAC industry and highlights the substantial demand for these materials within North America. This information could be valuable for businesses involved in the production or supply chain of sheet metal products, as they may want to focus or expand their offerings to cater specifically to the HVAC sector due to its prevalent usage and potential market opportunities.
As of 2019, the largest sheet metal company in the world by revenue is ArcelorMittal, bringing in over $70 billion.
The statistic indicates that as of the year 2019, ArcelorMittal holds the distinction of being the largest sheet metal company in the world in terms of revenue. ArcelorMittal’s revenue surpasses $70 billion, emphasizing its significant dominance in the global sheet metal industry. This statistic underscores ArcelorMittal’s strong financial performance and market presence, highlighting the company’s ability to generate substantial revenue through its sheet metal operations. Such a standing positions ArcelorMittal as a key player in the sheet metal sector, showcasing its scale and influence within the industry and reflecting its competitive advantage in capturing a significant share of the market.
References
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