INDIA METAL FABRICATION MARKET – GROWTH, TRENDS AND FORECAST (2019-2024)

The India fabrication market is expected to grow at 5.5% over the forecasted period. This is owing to factors, such as the increasing demand from the manufacturing sector, the rising preference toward pre-engineered buildings and components, and government initiatives toward infrastructure development activities.

Market Snapshot

india metal fab snapshot
Study Period:

2015-2024

Base Year:

2018

Key Players:

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INDIA METAL FABRICATION MARKET

The Indian steel industry is considered as one of the few bright spots in the global steel industry. The steel industry in the country revived from the demonetization and the goods and services tax (GST) reform and is growing at a rapid pace.
The market has transformed to a great extent over the past few years. The technological developments, though the adoption rate is low in the sector, have not only improved the delivery times, but also helped the industry in producing accurate designs of steel structures.
  • The India metal fabrication market (henceforth, referred to as the market studied) is fragmented in nature, with the presence of a large number of small- and medium-sized companies and EPC companies.
  • The rising demand for goods and services across various sectors in India, combined with the fact that global manufacturing companies focus to diversify their production by setting-up low-cost plants in countries, like China and India, is expected to drive the Indian manufacturing sector.

Scope of the Report

The India metal fabrication market is segmented by end-user industry and products category while providing insights on technology, government regulations and market dynamics. The report also profiles the major players present in the market along with investment analysis and future opportunities.

By End-user Industry
Manufacturing
Power and Utilities
Construction
Oil and Gas
Other End-user Industries
By Product category
Structural steel fabrication
Process Equipment Fabrication

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Key Market Trends

Increasing Number of Manufacturing Plants

The rising demand for goods and services across various sectors in India, combined with the fact that global manufacturing companies focus to diversify their production by setting-up low-cost plants in countries, like China and India, is expected to drive the Indian manufacturing sector.  Additionally, the Indian manufacturing sector is expected to register a growth of more than six times than the current value, by 2025, to USD 1 trillion. This growth in the Indian manufacturing sector, in turn, is likely to increase the number of manufacturing facilities in the country, which is, thus, expected to drive the demand in the market studied.
For instance, the number of mobile manufacturing plants that were setup in India has increased by more than 60 times since 2014. This shows the increasing demand in the market studied, owing to the increasing number of manufacturing units in the country. In July 2019, the Singapore-headquartered electronics manufacturing and business services provider Flex opened a new manufacturing facility in Chennai, taking the total number of manufacturing facilities of the company 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.
Capacity Utilisation in the manufacturing sector is measured by Reserve Bank of India in its quarterly Order Books, Inventories and Capacity Utilisation Survey. It indicates not only the production levels of companies, but also indicates the potential for future investments.  The capacity utilisation in India’s manufacturing sector stood at 75.9% in the third quarter of 2018-19 which has shown a growing trend. 
india metal fab trend1

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Strong Growth in Oil and Gas Segment

The oil and gas industry is among the eight core industries in India, and plays a major role in influencing decision-making for all the other important sections of the economy. Natural gas infrastructure is expected to be an area of opportunity for investments in the near future, particularly as the Indian government is focusing on constructing new LNG terminals, as well as expansion of pipelines across the nation. Metal fabrication plays a crucial role in the oil and gas industry. Almost all equipment and machinery used by them are supplied by metal fabrication companies. There are endless applications of metal fabrication in the oil and gas industry.
India was the fourth-largest liquefied natural gas (LNG) importer in 2017, after Japan, South Korea, and China. Gas pipeline infrastructure in the country covered 16,771 km at the beginning of September 2018.
india metal fab trend2

Competitive Landscape

The India metal fabrication market is fragmented in nature, with the presence of a large number of small- and medium-sized companies and EPC companies. Majority of the large fabricators present in the market studied are majorly EPC companies, which handle end-to-end solutions for structural steel fabrication and process equipment fabrication services. In structural steel, fabricators in the market are focusing on expanding their product portfolio through pre-fabricated buildings and providing engineering solutions to their clients. The increasing construction sector and the preference toward pre-engineered buildings are expected to further increase the competition within the market studied.

Major Players

  1. Salasar Techno Engineering Ltd
  2. Kirby Building Systems
  3. Zamil Industrial Investment Co
  4. Karamtara Engineering Pvt Ltd
  5. ISGEC Heavy Engineering Ltd

* Complete list of players covered available in the table of contents below

india metal fab cl

Table of Contents

  1. 1. Introduction

    1. 1.1 Study Deliverables

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET Dynamics

    1. 4.1 Market Overview

    2. 4.2 Factors Driving the Market

    3. 4.3 Factors Restraining the Market

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Competitive rivalry within the Industry

    5. 4.5 Industry Value Chain/Supply Chain Analysis

    6. 4.6 Technological Advancements in the Indian Metal Fabrication Market

    7. 4.7 Government Regulations and Key Initiatives in the Indian Metal Fabrication Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By End-user Industry

      1. 5.1.1 Manufacturing

      2. 5.1.2 Power and Utilities

      3. 5.1.3 Construction

      4. 5.1.4 Oil and Gas

      5. 5.1.5 Other End-user Industries

    2. 5.2 By Product category

      1. 5.2.1 Structural steel fabrication

      2. 5.2.2 Process Equipment Fabrication

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Competition Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Salasar Techno Engineering Ltd

      2. 6.2.2 Kirby Building Systems

      3. 6.2.3 Zamil Industrial Investment Co

      4. 6.2.4 Karamtara Engineering Pvt Ltd

      5. 6.2.5 Pennar Group

      6. 6.2.6 ISGEC Heavy Engineering Ltd

      7. 6.2.7 Godrej Process Equipment

      8. 6.2.8 TEMA India

      9. 6.2.9 Larsen & Toubro Ltd

      10. 6.2.10 Diamond Group

      11. 6.2.11 Novatech Projects (India) Private Limited

      12. 6.2.12 Ganges Internationale Pvt Ltd

      13. 6.2.13 Metalfab Hightech Pvt. Ltd

  7. 7. INVESTMENT ANALSYSIS

  8. 8. FUTURE OPPORTUNITIES

  9. 9. Disclaimer

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