In 2023, the Business Enterprise R&D Expenditure in the manufacture of fabricated metal products, excluding machinery and equipment, was approximately 4.80 billion USD (PPP 2015). Forecasts from 2024 to 2028 show a steady annual increase, with year-on-year growth rates of approximately 7% from 2024 to 2025, and around 6% subsequently each year. The compound annual growth rate (CAGR) over the five years is projected to be about 6.5%.
Future trends to watch for in this sector include:
- Technological advancements and their impact on R&D intensity.
- Potential shifts in global trade and materials supply chains.
- Increased focus on sustainability and green manufacturing techniques.
