As per the report published by Fior Markets, the global automotive metal stamping market is expected to grow from USD 84.36 Billion in 2018 to USD 122.19 Billion by 2026, at a CAGR of 4.74% during the forecast period 2019-2026.The Europe region dominated the global automotive metal stamping market with a 39.64% share of market revenue in 2018 due to well-developed automotive industry coupled with the adoption of lean manufacturing process. However, the Asia Pacific region is anticipated to grow at the highest CAGR of 6.94% over the forecast period.
“Automotive Metal Stamping Market by Technology (Blanking, Embossing, Bending, Coining, Flanging, Others), Application, Regions”,and Global Forecast 2019-2026.
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Major players in the global automotive metal stampingmarket areKenmode Precision Metal Stamping, Aro Metal Stamping co., Shiloh Industries, Inc., Martinrea International Inc., Manor Tool & Manufacturing Company, Acro Metal Stamping Co., Gestamp, Wisconsin Metal Parts, Inc., American Industrial Company, and Clow Stamping Co., among others. Major automobile manufacturers are focusing on improving the stamping technology. In order to enhance the market position, key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. For instance in 2016, Fiat Chrysler launched three new stamping press lines at its Sterling Stamping Plant in Sterling Heights, Michigan , US. The servo-driven press lines were the first new presses at Sterling Stamping since 2000, and it represented a USD 166 million investment.
The global automotive metal stamping market has been segmented on the basis of technology, and application.The technology segment is divided into blanking, embossing, bending, coining, flanging and others. Increasing utilization of laser embossing for engraving dates and patterns on the automotive parts and license platesare projected to drive the embossing segment to grow at an accelerated CAGR of 6.89% over the forecast period.Embossingis a process creating either raised or dipped relief images or designs on the materials. The innovation such as use of hydraulic and lasers in the automotive metal stamping is anticipated to drive the global market demand. The application segment includes passenger cars, commercial vehicles, recreational vehicles, and others. The passenger cars segment emerged as the leader in the global automotive metal stamping market with a 43.67% share of market revenue in 2018. Worldwide expanding demand for the passenger cars along with the emphasis on mass production of automotive parts in a cost efficient manner were some of the factors behind this increased market share. However, the commercial vehicles are projected to grow with considerable growth rate due to the increase in consumption of transportation and recreational vehicles.
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The metal sheet stamping are being widely used for the manufacturing of automobile chassis, interior & exterior structural components, transmission components, and other applications. Many of the leading OEMs such as Alcoa Inc., Martinrea International, Shiloh Industries, Inc., and others are entering into the manufacturing contracts to increase the scope of operations for their metal business. The major drivers that stimulates the market demand are theincreasing demand for the automotive globally, less wastage and mass production and cost efficient manufacturing process. In addition, adoption of lean manufacturing by the automotive industry coupled with the improvements in the stamping technology are expected to propel the market growth over the forecast period. However, growing utilization of plastics and composite materials may restrict the market growth.
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