The metal fabrication industry of India is considered as one of the shining examples in the global fabrication industry. A wide range of developments have taken place in this sector during the last decade. As far as the global scenario is concerned, the metal fabrication industry has been forecasted to grow at a CAGR of 5.5 percent during the tenure of 2020-2025. In 2015, net worth of this sector was valued at $16 Billion which is most likely to reach a net valuation of $24 Billion by 2024. India being a rapidly emerging player of this industry is set to contribute further value to the industry and significantly contribute to the GDP of the country.
A number of factors have influenced the growth of this industry in India. Recently, various government projects have been initiated in order to bring about developments in infrastructure and construction. Also, the growing adaptability of pre-engineering services has diversified the scope for metal fabricators.
Growth in Manufacturing
Led by the impact in the growth of the rapidly growing manufacturing sector, the metal fabrication industry of the country is seeing new light. It is not only discovering newer scopes for innovation, but also making existing services better by the integration of advanced and modern technologies. The manufacturing sector of India is poised to become a $1 Trillion industry by the year 2025, which means it will create a demand for expertise in metal fabrication, now more than ever.
