New Jersey, July 03, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled “Automotive Metal Stamping Market by Technology (Blanking, Embossing, Bending, Coining, Flanging, Others), Application, Regions, and Global Forecast 2019-2026".
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. Global increase in automotive demand, less wastage and mass production are the key driving factors for the market. 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.
The embossing segment is anticipated to grow at a CAGR of 6.89% in 2019-2026
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 plates are projected to drive the embossing segment to grow at an accelerated CAGR of 6.89% over the forecast period. Embossing is a method 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.
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The passenger cars segment had a market value of USD 36.84 billion in 2018
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 USD 36.84 billion 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 in upcoming years.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Presence of well-developed automotive industry coupled with the adoption of lean manufacturing process led the Europe region to dominate the global automotive metal stamping market with USD 33.44 billion revenue in 2018. However, the Asia Pacific region is anticipated to grow at the highest CAGR of 6.94% over the forecast period.
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Metal stepping is a cold-framing process that utilizes dies and stamping presses to change sheet metal into various shapes. Pieces of flat metal sheet, normally stated to as blanks, is fed into a stamping press that uses a tool and die surface to frame the metal into another shape. Even though the factors such as global increase in the automotive demand, less wastage and mass production as well as cost efficient manufacturing process are driving the global automotive metal stamping market. The growing utilization of plastics and composite materials coupled with the volatility in the metal prices is holding back the market growth over the forecast period.
Competitive Analysis:
Major players in the global automotive metal stamping market are Kenmode 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. In order to effectively participate in the high growth of markets of China and India, major players are focusing on augmenting their local manufacturing capacities. For instance in 2017, Gestamp, a Spanish multinational company specialized in design, development and manufacture of metal components for the automotive industry announced commencement of its new plant specialised in hot stamping in Pune (India). The company has invested USD 40 million in the new facility that will provide services for Fiat Chrysler Automobile (FCA), Ford and Tata Motors.
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