Automotive Metal Stamping Market Analysis Report By Technology, By Application And Segment Forecasts From 2018 To 2024

Industry Insights

The global automotive metal stamping market size was worth USD 70.42 billion in the year 2015. The process of creating different sizes & shapes by transforming sheet metal is called automotive metal stamping. Over the years, the automotive industry relied on metals like cast iron, steel, titanium, and aluminum for assembling & manufacturing different tools, equipment, and machinery.

Factors like lean manufacturing mechanisms for the reduction of wastage and machining capabilities of manufacturers are predicted to boost the industry over the forecast duration. These features also provide operational efficiency thereby, minimize operational costs. Increased investments by manufacturers in R&D have led to the emergence of various technological innovations like a better stamping process. Moreover, various regulations focusing on providing better working conditions, materials usage, and waste disposal are predicted to provide growth to the market over the next few years.

Alloys and metals are extensively used in automotive manufacturing. A large number of OEMs have developed contracts for manufacturing with automotive metal stamping companies and which is a major source for the expansion of the business of this product. The policy and trends of automotive production inclined towards the composition of automobiles have impacted the metal stamping industry largely.

The rising production in automotive regions like Germany, the U.S., U.K., Japan, Italy, and France is predicted to propel industry growth in the near future. Additionally, economic growth coupled with the rising disposable income of the population in countries like India, China, Mexico, and Brazil is predicted to result in the market growth in the upcoming years.

Established players like Volkwagen Ford, Toyota, and Mercedes (Daimler AG) have set up manufacturing units in these regions. This has resulted in new opportunities for operations metalworking industry and technology transfer. The trend is important to identify regional competition in the metal stamping industry.

Technology Insights

Bending and blanking held the dominant position with market shares of 27.6% and 37.1% respectively in 2015. Other technologies such as hemming, curling, ironing, stretching, and drawing are predicted to observe a decline in their share by 2024.

The rising demand in the automotive industry is predicted to fuel the demand for these products. Technological innovations like laser metal stamping and hydraulic metal stamping are anticipated to reduce the manufacturing cost thus, fostering the market demand.

Latin America and Asia Pacific regions are expected to observe considerable growth due to various favorable government plans and the increasing purchasing power of consumers. Moreover, countries like India, Brazil, and China are also seen as potential growth markets for the product in the next seven years.

Application Insights

By application, the automotive metal stamping market is bifurcated into commercial vehicles, cars, transportation, and recreational vehicles. Among them, cars held the largest market share with a CAGR of 5.9% from 2019 to 2024 due to the rising demand from customers.

Commercial vehicles are predicted to register significant growth. This segment is likely to be followed by transportation and recreational vehicles. The use of metal stamped products in recreational vehicles is constrained to North America on account of the major demand for these vehicles in the region. However, the metal parts are extensively used in transportation and recreational vehicles as these parts are strong, suitable, and sturdy for long journeys.

Regional Insights

The Asia Pacific held the largest share of 36.5% in terms of revenue in 2015. The region is expected to continue its dominance over the projected period due to higher demand for automobiles and other related products especially in India and China. Moreover, the rising awareness for safety against fire is expected to surge the need for automotive metal stamping in the coming years.

Europe held a market share of 30.2% in 2015. The presence of leading market players like BMW, Volkswagen, and various other manufacturing units set up in Germany, Italy, and the U.K. are predicted to accelerate the market growth over the forecast period.

North America is expected to witness potential growth due to the increasing demand for private vehicles like recreational vehicles and cars. The use of metal stamps provides durability to the vehicles thus, making them suitable for distant journeys. Moreover, North America witnesses an efficient roadways trade which is expected to fuel the demand for automotive metal stamps to safeguard the vehicles.

Automotive Metal Stamping Market Share Insights

Key players like Alcoa Inc., Martinrea International, and Shiloh Industries, Inc. have a widespread presence in the market. These companies have been focusing on strengthening their market presence through various alliances and partnerships across the regions. Other players include Manor Tool & Manufacturing Company, Acro Metal Stamping, Lindy Manufacturing, Kenmode Precision Metal Stamping, American Industrial Company, Wisconsin Metal Parts, Inc., Aro Metal Stamping, Clow Stamping Co., Tempco Manufacturing, Goshen Stamping Co., Inc., Caparo India, and Interplex Industries Inc.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2024. For the purpose of this study, Million Insights has segmented the global automotive metal stamping market report on the basis of technology, application, and region:

• Technology Outlook (Revenue, USD Million, 2013 - 2024)
    • Blanking
    • Embossing
    • Bending
    • Coining
    • Flanging
    • Others

• Application Outlook (Revenue, USD Million, 2013 - 2024)
    • Cars
    • Commercial Vehicles
    • Recreational Vehicles
    • Transportation

• Regional Outlook (Revenue, USD Million, 2013 - 2024)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
        • Italy
    • the Asia Pacific
        • China
        • India
        • Japan
    • Latin America
    • Middle East & Africa