NEWARK, Del, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The Metal Stampings Market size is projected to be worth US$ 419.7 Billion in 2023. The market is likely to surpass US$ 635.8 Billion by 2033. According to Future Market Insights (FMI), the market is further expected to surge at a CAGR of 4.2% during the forecast period.
The Metal Stampings market grew at a CAGR of 5.7% from 2018 to 2022, according to FMI. The future outlook for the Metal Stampings market is positive, with continued development projected.
The Metal Stampings market is an important segment of the manufacturing sector that plays a key role in the production of a wide range of metal components used in several applications. Metal Stampings is a metalworking procedure that involves forming, cutting, and shaping metal coils or sheets into complex and precise shapes by specialized dies and presses.
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Metal Stampings are used in several sectors including aerospace, construction, automotive, home appliances, electronics, and more. These mechanisms can range from simple brackets and clamps to complex parts with close-fitting tolerances and intricate designs. The Metal Stampings industry is driven by the increasing demand for durable and lightweight materials in production, coupled with the need for cost-effective manufacturing processes.
A key factor affecting the Metal stamping industry includes advances in stamping technology. The growth of automation and robotics in the manufacturing procedure, and the trend towards eco-friendly and sustainable materials only further add to it. Additionally, the development of emerging economies and the growth of end-user sectors are contributing to the growth of the market.
The competitive dynamics in the Metal Stampings market are shaped by several factors, including the level of specialization, production capacity, geographic scope, and customer relationship.
Key industry players often invest in research and development to revolutionize and improve their stamping processes to meet the ever-changing needs of customers and the sector.
Globalization has likewise had a profound impact on the Metal Stampings market, with companies looking to expand into new regions to access larger markets and decrease production costs.
With continuous advancements in technology and relentless pursuit of efficacy and sustainability, the Metal Stampings market is projected to experience steady development and remain an important player in the manufacturing landscape.
Key Takeaways from the Metal Stampings Market Report:
- The market in the United States is expected to reach US$ 127.2 Billion by 2033, growing at a CAGR of 4.2%.
- The market in South Korea is expected to reach a market share of US$ 30 Billion, expanding at a CAGR of 3.8% during the forecast period.
- Based on application, the automotive and transportation segment is expected to continue dominating the industry with a CAGR of 3.8% from 2022 to 2033.
- China is projected to surge at a CAGR of 4.1% in the global market by 2033.
- The United Kingdom market is projected to reach a valuation of US$ 21.3 Billion by 2033.
"Growing vehicle production and demand for passenger vehicles globally is expected to drive significant growth in the Metal Stampings market. Though, with the rising trend to reduce engine size to improve lighter vehicles and fuel efficiency, light metals such as aluminum are anticipated to be in huge demand amid Metal Stampings enterprises.” – says a lead analyst at Future Market Insights (FMI)
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Competitive Landscape:
A.D. LIVNICA KIKINDA; A.W. Bell Pty., Ltd.; A/S Secure Aluminium Casting & Machining; AB A Bergmans Gjuteri & Mek. Verkstad; AB Bruzaholms Bruk are key manufacturers listed in the report.
Key players and companies are focusing on expanding their product and service portfolios by launching new products. They likewise use several growth strategies like advertising, acquisitions, partnerships, deals, and mergers to stay relevant in the market.
For instance,
- In September 2021, SteelSummit Holdings and Toyota Tsusho, a subsidiary of Sumitomo Corp. of America, announced the joint venture with Madison Metal Processing (MMP).
- In March 2020, Nissan Motor Company announced new machinery required for its United Kingdom manufacturing plant's existing cutting line.
- In February 2021, Magna invested US$ 70 Million through its chassis and body products group in an electric vehicle factory. The plant will manufacture composite battery packs for the 2022 GMC Hummer EV.
Scope of the Report:
| Attribute | Details | |
| Estimated Market Size (2023) | US$ 419.7 Billion | |
| Projected Market Valuation (2033) | US$ 635.8 Billion | |
| Value-based CAGR (2023 to 2033) | 4.2 | % |
| Forecast Period | 2023 to 2033 | |
| Historical Data Available for | 2018 to 2022 | |
| Market Analysis | Value (US$ Billion) | |
| Key Regions Covered | Latin America, North America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa | |
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Segmentation Analysis of the Metal Stampings Market
Process Type:
- Blanking
- Embossing
- Bending
- Others
Application:
- Automotive & Transportation
- Industrial Machinery
- Consumer Electronics
- Aerospace
- Electrical & Electronics
- Others
Get More Valuable Insights:
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global Metal Stampings market presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study incorporates compelling insights on the Metal Stampings market based on process type (blanking, embossing, bending, others) and application (automotive & transportation, industrial machinery, consumer electronics, aerospace, electrical & electronics, others) across regions.
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