Following the recession, metal fabrication is one of the few industries that have remained steady. While little growth has been experienced, the industry remains strong despite the changes in the economy. But 2015 may be the time that metal fabricators in Phoenix, AZ finally experience a strong and steady increase. While the market is steady, the global economy is still facing difficulties, leaving the industry in a state of questioning what the rest of 2015 may hold.
Poor opportunities for exporting metals
The European demand for metal fabrication continues to struggle, so the need for United States exports into the area is relatively unneeded. This took quite a hit on the U.S. industry, though, as it previously held nearly a quarter of the market. Now it is closer to nine percent, and that number is continuing to shrink. The Chinese metal fabrication market is also experiencing the same struggles. The country is anticipated to experience a GDP growth of approximately four percent—which is incredibly low considering the demand for employment in the large country of China.
According to experts, the only hopes in international territories lies in Mexico and other Latin American countries. This is not due to issues such as U.S. foreign policy or international relations, but actually a result of a weak dollar throughout the rest of the world—a dollar that is continuing to get weaker.
Hope for the industry in consumer spending
The effects of the recession are finally wearing off, though, for many American consumers. As unemployment is decreasing, as well as gas prices, consumers are now beginning to spend their hard earned cash once more. One major area where this spending has increased is in new cars, as Americans are beginning to purchase again. This is also true for recreational vehicles, such as RVs and boats. As the money increases, so does the amount and size of the purchases. This extreme increase in purchases indicates that the demand for metal fabricators in Phoenix, AZ may be likely to increase in the coming months and years.
Metal fabricators in Phoenix, AZ should prepare for the unexpected
As custom fabricators know, the demand for metal fabrication may quickly change as a result of a variety of factors. Even with the intelligence of new means of forecasting, it can only predict so much, especially considering the nature of the metal fabrication industry. Much of metal fabrication depends on the demand, which can change quickly based on the needs of the customer. Very seldom do clients regularly order. The industry is dependent on the just-in-time model.
Ultimately, the recession did take its toll on quite a large number of metal fabricators in Phoenix, AZ. As a result, however, the companies that are left have proven to be stronger than their previous competitors as they have weathered the worst. Now is the time for the remaining metal fabricators to experience a tremendous amount of growth in the industry.
If you are in need of the services of skilled metal fabricators in Phoenix, AZ, the team at Metal Pro Inc is here to help. We offer a variety of services and can work with you to make sure your needs are met. Call today to learn more!