According to forecasts, the automotive stamping market is expected to be US$ 11,014.5 million in 2023 and US$ 18,460.7 million by 2033.
Due to a rise in vehicle production throughout the area, Asia-Pacific is now leading the automotive metal stamping industry. The market is projected to experience significant development due to the region’s rapidly growing small- and medium-scale manufacturing sectors.
Nevertheless, the expanding usage of plastics and composites as metal substitutes is a significant factor likely to slow market expansion and provide a fresh challenge to the automotive metal stamping business over the projection period.
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Regulatory agencies aim to improve working conditions, safety regulations, waste management, and the materials employed, which is predicted to fuel market expansion during the projection period. One of the key things impeding the market’s growth is the expensive maintenance of the machinery used in the metal stamping process.
Key Takeaways
- By 2033, the automotive stamping market in the United Kingdom is likely to expand, with a CAGR of 4.7%.
- In 2023, the United States is expected to develop the automotive stamping business with a share of 14.7%.
- The automotive stamping market grew considerably to US$ 10,490 million in 2022.
- The automotive stamping sector expanded at a CAGR of 5% from 2018 to 2022.
- By 2033, China’s automotive stamping market is projected to develop with a CAGR of 5.7%.
- By 2033, India’s automotive stamping industry is projected to develop with a CAGR of 6.2%.
- Japan’s automotive stamping industry is expected to expand significantly, with an 8.7% share in 2023.
- Australia’s automotive stamping sector is expected to expand, with a share of 4.5% in 2023.
- Germany’s automotive stamping sector is expected to expand, with a share of 13.8% in 2023.
- In 2023, the cold stamping segment is likely to dominate the market, with a share of 59.2%, based on foaming temperature.
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Competitors Winning Strategies
As the dies are used repeatedly to produce components with constant shapes and sizes that need close tolerances and requirements, automotive manufacturers typically use metal stamping to manufacture parts like hubcaps and fenders.
The market is anticipated to increase for certain reasons, including manufacturers’ ability to machine products and lean manufacturing techniques to eliminate waste during operations.
Key Players
- Schuler Group
- AIDA Global
- Orchid International
- Eagle Press & Equipment Co. Ltd.
- Hyundai Rotem
- MacRodyne Hydraulic Presses & Automation
- Santec Group
- Jier North America
- Ridgeview Industries
- Bliss-Bret Industries
Recent Development:
- In July 2022, Schuler unveiled Visual Quality Inspection, a newly developed camera-based technology that automatically identifies defective components, corrects manufacturing problems immediately, prevents lengthy delays, and enhances customer relationships over time.
- In November 2021, Magna International and Ford teamed up to provide battery enclosures made of aluminum extrusions and stampings for Ford’s F-150 Lightning.
- Autoneum declared its expansion of aluminum sheet forming technology in October 2021. The company’s stamped aluminum components cover batteries effectively and cheaply while preventing electromagnetic interface in electric cars.
- Challenge Manufacturing, a Walker, Michigan-based provider of automotive structures, announced in July 2020 that it acquired the Cusseta, Alabama, Great Lakes Metal Stamping facility.
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Key Segments
By Foaming Temperature:
- Hot Stamping
- Cold Stamping
By Stamping Process:
- Mechanical Process
- Hydraulic Process
- Pneumatic Process
By Number of Stations Required:
- Single Tool Station
- Progressive Stations
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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