Dubai, UAE, Oct. 19, 2023 (GLOBE NEWSWIRE) -- As per the latest report published by Extrapolate, the Global Metal Forming Market was valued at USD 175.2 billion in 2021 and is estimated to reach a valuation of USD 215.13 billion by 2030, registering a CAGR of 3.2% throughout the projection period. The metal forming market is anticipated to be driven by increasing demand for various forming machines, such as bending, shearing, and pressure machines. Furthermore, the demand for high-mobility machining for variossus operations, such as forging, pressing, and die stamping, is expected to increase the demand for metal forming machine devices.
In order to achieve the required geometry and shape, metal is deformed plastically during the metal-forming process. The metal undergoes a force greater than its yield strength, which allows it to flex plastically without experiencing any transient changes. This force gives the metal the hard, precise, and aesthetic aspect that is desired. Roll forming, stamping, stretch forming, and other methods are a few instances of several types of metal forming processes.
Get Sample Copy of Report @ https://www.extrapolate.com/sample/machinery-equipment/metal-forming-market/25953
Competitive Landscape
The global metal forming market is highly fragmented in nature, with a number of companies dominating the market. Leading market participants are focusing on several business strategies in order to gain a competitive edge and increase their market share. Some of the key business strategies employed by these businesses include mergers and acquisitions, product developments, contracts, and agreements.
Major players leading the metal forming market include:
- BENTELER Group
- Tower International
- Miro Manufacturing, Inc.
- MILLS PRODUCTS
- Néos Superform
- Toyota Boshoku Automotive India Pvt Ltd
- AISIN CORPORATION
- Magna International Inc.
- KIRCHHOFF Automotive GmbH
- CIE Automotive
- VNT Metal Hungary Kft.
Market Segmentation
By Forming Type
- Cold Forming
- Hot Forming
Cold Forming to Gain Popularity Due to its Affordability and Improved Mechanical Properties
The cold forming segment has dominated the metal forming market share in 2021 and is anticipated to continue its dominance throughout the projection period. The market for metal forming is expanding as a result of an increasing inclination towards cold forming. It is a manufacturing procedure that entails applying high-pressure forces to shape metal components at room temperature. Cold forming is gaining popularity due to its affordability, material effectiveness, improved mechanical properties, adaptability, design liberty, and fast production speed.
For More Information, Enquire @ https://www.extrapolate.com/enquire/machinery-equipment/metal-forming-market/25953
By Technique
- Roll forming
- Stamping
- Stretch forming
- Others
Technological Advancements in Automation to Fuel Demand for Stamping Manufacturing Technique
The stamping segment has dominated the metal forming market share in 2021 and is anticipated to continue its dominance throughout the projection period. One of the major factors driving the growth of the segment includes technological advancements in automation as they improved the efficiency and capabilities of stamping processes.
Furthermore, sustainable manufacturing practices are another major factor supporting the growth of the segment as stamping uses less material and produces less waste, and is consistent with environmental goals.
The Rising Demand for Metal Fabrication to Drive Market Growth
The need for fabricated metals is rising in a number of sectors, including consumer electronics, aerospace, and transportation. It is projected that the market will continue to grow due to the broad range of applications for metal manufacturing, which include everything from paper clips to airplane parts. Over the past few years, the steel fabrication business has experienced enormous growth due to the growing industrial activity in developing countries such as China and India. A rise in the utilization of steel fabrication for a number of applications, including pipe and structure steel, is a result of increased building activity.
Government-led building projects in many different countries are driving the construction business. The Belt and Road Plan, which was announced by the Chinese president in 2013, for instance, calls for the construction of numerous infrastructure projects, including ports, utilities, highways, urban areas, and airports. Additionally, the growth of construction sectors in industrialized nations is projected to offer lucrative growth opportunities for the metal forming market.
Purchase This Comprehensive Research Report for Valuable Market Insights @ https://www.extrapolate.com/complete-checkout-buyal/25953
Growing Use of Composites in Automotive Applications Restrains Market Growth
The US vehicle industry is concentrating on substituting composite materials and plastics for some metal-formed components in order to reduce weight. OEMs are using cutting-edge materials to reduce the overall weight of their vehicles in order to meet regulatory standards and increase fuel efficiency, which is ultimately limiting the growth of the market. Bumpers, side fenders, and trunk closures, for instance, were made using metal sheets and shaping techniques, posing a challenge to market growth.
Presence of Key Players in North America to Support Regional Market Growth
North America has dominated the global metal forming market share in 2021 and is anticipated to continue its dominance throughout the projection period. Improvements in technology, revenues, profitability, and participation by governments and international organizations are some of the key factors driving the growth of the market in the region.
Furthermore, North America is projected to experience significant growth during the forecast period as a result of its quick urbanization, rising GDP, and increasing investment by key players and government agencies in the automobile industry. Modern manufacturing facilities and the presence of major players in the automobile industry are likely to promote the growth of the regional market.
Browse Complete Report @ https://www.extrapolate.com/machinery-equipment/metal-forming-market/25953
Asia Pacific to Grow at a Rapid CAGR Owing to Rising Disposable Income
Asia Pacific is anticipated to grow significantly during the forecast period, recording a robust CAGR. The metal forming market for automobiles is likely to experience potential growth opportunities due to an increase in disposable income, quick changes in legislation to make transportation more technologically advanced, and the region's constantly growing population. The world's largest auto manufacturer is China. The market for metal forming in the automotive industry is expected to be the second largest in the region of Asia Pacific.
Table of Content
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Metal Forming Market
Chapter 5. Global Metal Forming Market Overview, By Forming Type, 2017 - 2030(USD Million)
Chapter 6. Global Metal Forming Market Overview, By Technique, 2017 - 2030 (USD Million)
Chapter 7. Global Metal Forming Market Overview, By Application, 2017 - 2030 (USD Million)
Chapter 8. Global Metal Forming Market Overview, By Geography, 2017 - 2030(USD Million)
Chapter 9. North America Metal Forming Market Overview, By Countries, 2017 - 2030(USD Million)
Chapter 10. Europe Metal Forming Market Overview, By Countries, 2017 - 2030(USD Million)
Chapter 11. Asia Pacific Metal Forming Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 12. Middle East & Africa Metal Forming Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 13. South America Metal Forming Market Overview, By Countries, 2017 - 2030 (USD Million)
Chapter 14. Competitive Landscape
Chapter 15. Key Vendor Analysis
Chapter 16. Sourcing Strategy and Downstream Buyers
Chapter 17. Marketing Strategy Analysis, Distributors/Traders
Chapter 18. Market Effect Factors Analysis
Chapter 19. Future Outlook of the Market
Browse Complete Table of Content @ https://www.extrapolate.com/toc/machinery-equipment/metal-forming-market/25953
About Us:
Extrapolate is a Global Market Research, Advisory, and Consulting firm that works closely with Industry experts from various industries to bring the latest and most accurate research reports.
In an era of breakneck change and a low tolerance for missed or misread opportunities, businesses need astute guidance to shape markets - not merely respond to them. Extrapolate helps clients develop market perspectives that drive success.
Contact Us
Extrapolate
Phone: (+1) 888 328 2189
E-mail: talk@extrapolate.com
Website: https://www.extrapolate.com
Blog: https://www.extrapolate.com/blog
Follow Us: LinkedIn | Facebook | Twitter
