The automotive stamping market is forecasted to grow from USD 11,014.5 million in 2023 to approximately USD 18,460.7 million by 2033.
The Asia-Pacific region currently leads the automotive metal stamping industry, driven by a sharp increase in vehicle production and the rapid expansion of small- and medium-sized manufacturing enterprises. This growth trend is expected to significantly support the market’s expansion.
Nonetheless, the industry faces challenges due to the rising use of plastics and composite materials as alternatives to metal, which could restrain growth and introduce new obstacles.
Meanwhile, regulatory efforts focused on improving workplace safety, waste management, and material optimization are expected to support the industry’s growth during the forecast period. However, the substantial cost of maintaining metal stamping machinery remains a notable barrier to market expansion.
Comprehensive Market Insights: Full Report Overview
Key Insights:
- The United Kingdom’s automotive stamping market is projected to grow at a 4.7% CAGR by 2033.
- In 2023, the United States is anticipated to hold a 14.7% share in the automotive stamping market.
- The market reached USD 10,490 million in 2022.
- The automotive stamping sector saw a 5% CAGR from 2018 to 2022.
- China’s market is projected to grow at a 5.7% CAGR by 2033, while India’s market is expected to grow at a 6.2% CAGR.
- Japan’s automotive stamping industry is set to hold an 8.7% share in 2023, while Australia’s share is expected to reach 4.5%.
- Germany’s automotive stamping sector is projected to hold a 13.8% share in 2023.
- The cold stamping segment, based on forming temperature, is expected to dominate in 2023 with a 59.2% market share.
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.
Key Segmentations
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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