Five Metal Fabrication Trends for 2024
Date Posted: December 19, 2023
Posted In: Discussion, Ideas,
From The Fabricator: This year, I’ve spoken to people who’ve talked at length about the potential of data, software, machine learning, and artificial intelligence (AI). I’ve also spoken to people who’ve dealt with press brake departments full of rookies who don’t know the fundamentals. I’ve heard of wage pressures and poaching, of ever-increasing opportunities thanks to reshoring. It’s a time of transition, tumult, and technological marvels. Moving ahead to 2024, what can we expect?
1. New Leaders Embrace Technology and Talent
Boomers can’t work forever, and their kids came of age during an era of offshoring and the Great Recession. Successful custom fabricators are now looking for buyers, and interest remains for businesses with good data, a deep bench of talent, and a diverse customer base in sustainable industries with good futures. Very small shops that lack this, or for whatever reason can’t find a suitable buyer, might be shutting their doors and putting their assets (including a lot of used machinery) up for sale. Those who have all three—and particularly a deep bench of talent—might find buyers willing to pay top dollar, even in the current interest rate environment.
2. The Successful Shops Make Time for Technical Learning
This applies to teaching the fundamentals of cutting, bending, and welding, of course, but it also applies to learning what today’s technology is truly capable of. Earlier this year, I visited Cupples’ J&J Co. Inc., a large custom fabricator based in Jackson, Tenn., and saw a team making test cuts in thick plate with an ultrahigh-powered fiber laser. The shop’s known for pushing the technical envelope, and I was witnessing that “pushing” firsthand.