The global automotive metal stamping market is expected to reach USD 112.38 billion by 2024, according to a new report by Grand View Research, Inc. The industry is anticipated to grow owing to the rising demand in automotive industry and low manufacturing cost. Increasing sheet metal usage in the production of automobile chassis, transmission components, interior & exterior structural components are expected to drive market growth over the forecast period.
Growing use of alloys such as titanium, cast aluminum, cast iron, and forged steel still form an integral part of automotive engines. Furthermore, technological advancements including the use of hybrid electromagnetically assisted sheet metal stamping machines which significantly reduces failures by controlling the strain distribution during stamping is expected to have a positive impact on industry growth.
The automotive manufacturing sector in Asia Pacific and Latin America is rapidly developing with major overseas OEMs establishing production plants to capture the local automobile demand. This has enabled technology transfer to these regions, thus promoting industry growth over the next eight years.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/automotive-metal-stamping-market
Further key findings from the report suggest:
·
Blanking automotive stamping process accounted
for over 35% of the revenue share in 2015. Blanking is an integral part of
automobile manufacturing chain owing to its precise and superior stamping
ability. Furthermore, rising use of the technology in mass production lines is
expected to propel demand over the forecast period.
·
Coining technology is expected to witness
significant growth, growing at a CAGR of over 3% from 2016 to 2024. Growing use
of the technology in manufacturing precision parts that require finer polished
surface finishes is likely to propel demand.
·
Automotive metal stamping demand in commercial
vehicles was valued at over USD 20 billion in 2015. Growing use of the
technology in manufacturing components and body work in commercial vehicles is
likely to propel demand over the next eight years. The manufacturing of
commercial vehicles has been continuously growing in China, Japan, Germany and
the U.S., which is expected to have a positive impact on market growth.
·
North America demand for automotive metal
stamping in cars was over 6 billion in 2015. Rising production of automobiles
including cars and heavy trucks is expected to increase demand for the
technology in the next eight years. Furthermore, the presence of major
manufacturers including Ford, Chrysler, and General Motors is expected to
promote growth opportunities over the forecast period.
·
Key players in the industry include Aro Metal
Stamping, Alcoa Inc., Kenmode Precision Metal Stamping, Martinrea
International, Shiloh Industries, Inc., include Acro Metal Stamping, Lindy
Manufacturing, Manor Tool & Manufacturing Company, American Industrial
Company, Wisconsin Metal Parts, Inc., and Clow Stamping Co.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented
the automotive metal stamping market on the basis oftechnology, application and
region:
Automotive Metal Stamping Market
Technology Outlook (Revenue, USD Million, 2013 - 2024)
- Blanking
- Embossing
- Bending
- Coining
- Flanging
- Others
Automotive Metal Stamping Market
Application Outlook (Revenue, USD Million, 2013 - 2024)
- Cars
- Commercial Vehicles
- Recreational Vehicles
- Transportation
Automotive Metal Stamping Market
Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North America
- U.S.
- Europe
- Germany
- UK
- Italy
- Asia Pacific
- China
- India
- Japan
- Latin America
- Middle East & Africa
For free press release of this report - http://www.grandviewresearch.com/press-release/global-automotive-metal-stamping-market
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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