Market Size of Russia Metal Fabrication Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.60 Billion |
| Market Size (2029) | USD 4.44 Billion |
| CAGR (2024 - 2029) | 4.31 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Russia Metal Fabrication Market Analysis
The Russia Metal Fabrication Market size is estimated at USD 3.60 billion in 2024, and is expected to reach USD 4.44 billion by 2029, growing at a CAGR of 4.31% during the forecast period (2024-2029).
- COVID-19 caused operational problems and low demand, which hurt the metal fabrication industry in Russia a lot. In the forecast period, production was expected to slowly get back to where it was before the pandemic.According to the industry association, domestic demand for metals would take a significant hit, and it would take at least 2022-2023 to return to pre-pandemic levels.
- Steel, which is an alloy of iron, carbon, and sometimes other things, is an important part of Russian ferrous metallurgy.Russia is fifth in the world in terms of monthly crude steel production, after China, India, Japan, and the United States. This is because the Soviet Union left Russia with a strong steel industry.
- The studied market, which is the Russian metal fabrication market, is made up of a large number of small and medium-sized businesses as well as EPC firms. The market is driven by the rising demand for goods and services in different parts of the country. On the other hand, Russia's invasion of Ukraine has affected the economy in the near term and promises to have a significant impact on the newly formed sheet metal industry. Even if the attack de-escalates, political uncertainty and economic sanctions will still affect the global economy.
