Fior Markets launched a study titled “Global Metal Forming Market by Material Type (Steel, Aluminum, Other),Technique, FormingType, Application (Automotive, Industrial, Aerospace), Region” and Global Forecast 2018-2025.
The global metal forming market is expected to grow from USD 233.27 billion in 2017 to USD 286.45 billion by 2025 at a CAGR of 1.98% during the forecast period from 2018-2025. The key contributing factor for the market growth are rising demand globally for vehicle production and commercial vehicles, stringent emission and fuel economy regulations has increased demand for lightweight materials, increasing manufacturing and industrial activities in Asia Pacific, and expanding automation activities in manufacturing process.
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Stamping segment held highest market share of 26.57% in 2017
Technique segment covers rolling, stretching, forging, hydroforming, stamping, deep drawing, and others. The stamping segment dominated the global metal forming market with market share of 26.57% in 2017. Stamping is cost-effective forming technique used in the automotive industry.
Cold forming segment valued around USD 125.29billion in 2017
Forming type segment includes hot forming and cold forming. Cold forming segment valued around USD 125.29 billion in 2017. Cold forming enables to use different types of forming techniques at room temperature and require less cost than hot forming process.
Automotive segment is anticipated to grow with highest CAGR 3.04% during the forecast period
Application segment is categorized as automotive, industrial equipment & machinery, aerospace, energy and power, electronics, and construction. Automotive segment is anticipated to grow with highest CAGR 3.04% during the forecast period. The increasing production of light-weight vehicles and use of composite materials and plastic as well as adoption of new material to reduce the overall weight of the vehicles has increased the market share of the automotive segment in the global metal forming market.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa. Asia Pacific held the largest market share of approximately36.52%in 2017. TheAsia Pacific region is amajor manufacturing hub owing to the increasing research and development activities, growth of construction and automotive sector, and adoption of electric vehicles aresome of the factors that led to the growth ofmarket in this region.
The major players ofmarketinclude Bradbury Group, Toyota Boshoku Corporation, Formtek Moulding Solutions, Samco Machinery, Mestek Machinery, Aisin Seiki Co. Ltd, Avic Manufacturing Technology Institute, Heck Industries, VNT Automotive GmbH, DMG Fabrication & Welding, Westway Machinery, Wuhan Huagong, Benteler International AG, Schuler India Private Ltd., AES Automotive Company Pvt. Ltd., and others. For instance, in 2017, O’Neal Manufacturing Services merged with Aerodyne Alloys, Plus Ten Stainless, United Performance Metals, and Vulcanium Metal International. This merger was aimed to form new venture named United Performance Metals that will deal in the high-performance metals production and distribution.
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