Automotive Metal Stamping Market Expected To Reach $ 124.56 Billion By 2028
Automotive Metal Stamping Market – $ 87.02 Billion in 2020, 4.63% CAGR, Market Trends – Proliferation of Environmentally Friendly Coating Technologies.
NEW YORK, NY, UNITED STATES, January 12, 2022 /EINPresswire.com/ – The rapid expansion of the automotive sector, along with the increasing adoption of lean vehicle manufacturing methods to reduce waste are the key factors influencing the growth of automotive metal stamping.
The Global Automotive Metal Stamping Market the size is estimated at 124.56 billion USD compared to 87.02 billion USD in 2020, with a CAGR of 4.63% until 2027. Growing demand for branding in vehicles to ensure product authentication, along with improved capabilities of manufacturers with the advent of lean manufacturing methods to reduce waste during processes, will drive the growth of the automotive metal stamping market.
Automotive metal stamping is a process of converting sheet metal into various sizes and shapes according to the requirements of the end user. The automotive industry is gradually developing, as is the demand for sheet metal stamping for the production of vehicle chassis, interior and exterior components, and transmission components. The increasing emphasis on the use of lightweight metals like aluminum to increase energy efficiency will provide a lucrative scope for the growth of the automotive metal stamping market during the forecast period.
Automotive manufacturers and auto parts OEMs incorporate the automotive stamping press, automotive stamping dies and other large-scale metal stamping tools and techniques to turn sheet metal into final parts with optimum precision in terms of design and aesthetics.
In addition, the innovations and advancements in the automotive industry aimed at encouraging energy efficiency, along with the increasing investment in automotive metal stamping manufacturing by industry players, will increase the revenue share of the market. automotive metal stamping. In addition, the introduction of regulatory policies aimed at improving working conditions and safety standards, the use of materials and the elimination of waste promotes the adoption of sustainable manufacturing strategies, which, in turn, will promote Automotive Metal Stamping Market growth till 2027.
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The major players in the global automotive metal stamping market are Kenmode Precision Metal Stamping (US), Shiloh Industries, Inc. (US), Aro Metal Stamping co. (United States), Martinrea International Inc. (Canada), Acro Metal Stamping Co. (United States), Manor Tool & Manufacturing Company (United States), Wisconsin Metal Parts, Inc. (United States), Clow Stamping Co. (United States) and American Industrial Company (US), among others.
Other key findings from the report suggest
• On the basis of stamping type, the hot stamping segment dominated the automotive metal stamping market share in 2020 and is expected to show a growth rate of 4.2% through 2027. Hot stamping technology is in high demand because it offers greater tensile strength and can create lightweight parts like vehicle frames.
• On the basis of metal type, aluminum accounted for 44.8% of the automotive metal stamping market share in 2020 and is expected to experience a growth rate of 4.1% over the forecast period due to its properties of lightness and high resistance.
• Based on technology, the automotive stamping process accounted for 25% of the automotive metal stamping market revenue share in 2020 and is expected to show notable growth of 4.63% through 2027.
• The Forming Technology segment is expected to experience significant growth at a CAGR of nearly 6% during the period of analysis in the Automotive Metal Stamping Market. Forging technology is seeing wide-scale adoption as it results in exceptionally polished surface finishes, eliminated drafts, with high tolerance in the final structure.
• Embossing segment is expected to register a growth rate of 5.3% during the forecast period in the Automotive Metal Stamping market due to the increasing demand for laser embossing to engrave patterns and dates on auto parts and license plates.
• On the basis of applications, the commercial vehicle segment dominated the revenue share of the Automotive Metal Stamping market in 2020 and is expected to show a growth rate of 3.2% through 2027 due to the strong demand for resilient and durable vehicle parts in these vehicles.
• In the regional landscape, North America is expected to register a growth rate of 3.9% over the projected period due to the growing demand for private and recreational vehicles in the region. Moreover, the absence of budget constraints, heavy government investments and profitable economic growth in the region are the key factors propelling the regional growth of the automotive metal stamping industry.
To identify key industry trends, click on the link below: https://www.reportsanddata.com/report-detail/automotive-metal-stamping-market
For the purpose of this report, Reports and Data has segmented the global automotive metal stamping market on the basis of stamping type, metal type, technology, application, and region:
Outlook Stamping Type (Revenue, USD Billion; 2020-2027)
• Hot stamping or hot printing
• Cold stamping or cold printing
Metal Types Outlook (Revenue, USD Billion; 2020-2027)
• The copper
Technology Outlook (Revenue, USD Billion; 2020-2027)
Application Outlook (Revenue, USD Billion; 2020-2027)
• Commercial vehicles
• Passenger vehicles
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Regional Outlook (Revenue, USD Billion; 2020-2027)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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