The global automotive metal
stamping market is expected to reach USD 112.38 billion by 2024, according to a
new report by Grand View Research, Inc. The industry is anticipated to grow
owing to the rising demand in automotive industry and low manufacturing cost.
Increasing sheet metal usage in the production of automobile chassis,
transmission components, interior & exterior structural components are
expected to drive market growth over the forecast period.
Growing use of alloys such as
titanium, cast aluminum, cast iron, and forged steel still form an integral
part of automotive engines. Furthermore, technological advancements including
the use of hybrid electromagnetically assisted sheet metal stamping machines
which significantly reduces failures by controlling the strain distribution
during stamping is expected to have a positive impact on industry growth.
The automotive manufacturing
sector in Asia Pacific and Latin America is rapidly developing with major
overseas OEMs establishing production plants to capture the local automobile
demand. This has enabled technology transfer to these regions, thus promoting
industry growth over the next eight years.
In depth research report on Automotive Metal Stamping
Market
Further key findings from the report suggest:
·
Blanking automotive stamping
process accounted for over 35% of the revenue share in 2015. Blanking is an
integral part of automobile manufacturing chain owing to its precise and
superior stamping ability. Furthermore, rising use of the technology in mass
production lines is expected to propel demand over the forecast period.
·
Coining technology is expected
to witness significant growth, growing at a CAGR of over 3% from 2016 to 2024.
Growing use of the technology in manufacturing precision parts that require
finer polished surface finishes is likely to propel demand.
·
Automotive metal stamping
demand in commercial vehicles was valued at over USD 20 billion in 2015. Growing
use of the technology in manufacturing components and body work in commercial
vehicles is likely to propel demand over the next eight years. The
manufacturing of commercial vehicles has been continuously growing in China,
Japan, Germany and the U.S., which is expected to have a positive impact on
market growth.
·
North America demand for
automotive metal stamping in cars was over 6 billion in 2015. Rising production
of automobiles including cars and heavy trucks is expected to increase demand
for the technology in the next eight years. Furthermore, the presence of major
manufacturers including Ford, Chrysler, and General Motors is expected to
promote growth opportunities over the
forecast period.
·
Key players in the industry
include Aro Metal Stamping, Alcoa Inc., Kenmode Precision Metal Stamping,
Martinrea International, Shiloh Industries, Inc., include Acro Metal Stamping,
Lindy Manufacturing, Manor Tool & Manufacturing Company, American
Industrial Company, Wisconsin Metal Parts, Inc., and Clow Stamping Co.
Grand View Research has
segmented the automotive metal stamping market on the basis oftechnology,
application and region:
Automotive Metal Stamping Market Technology Outlook
(Revenue, USD Million, 2013 - 2024)
·
Blanking
·
Embossing
·
Bending
·
Coining
·
Flanging
·
Others
Automotive Metal Stamping Market Application Outlook
(Revenue, USD Million, 2013 - 2024)
·
Cars
·
Commercial Vehicles
·
Recreational Vehicles
·
Transportation
Automotive Metal Stamping Market Regional Outlook
(Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
o
Italy
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
·
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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