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With a modest CAGR of 5.3% from 2022 to 2032, the worldwide automotive stamping market is anticipated to reach a value pool of US$ 10,490.0 Million in 2022. The global market for automotive stamping is expected to reach US$17,581.6 million by 2032.
Stamping is a metal working process by which a desired shape and structure of a material is achieved. This metal working process is adopted in manufacturing industries engaged in processing of hardened surfaces such as sheet metal and plastics components. Stamping process forms the base of all the building process in automotive industry as more than 80 percent of the components that make up a vehicle is produced by stamping. Both the interior structural components and the exterior build components are produced by this process.
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Since 2015, the demand for automobiles has increased exponentially after the global economic downturn during 2016. This has led to an increase in demand of the stamping machines so as to meet the demand of an impeding growth in the automotive sector. The increase in usage of stamping machines in the automotive sector attributed to the growth of stamped automotive parts and is forecast to expand at a increasing growth rates during 2022-2032.
The market for stamping machines in the automotive sector is driven by reduced lead times required for manufacturing vehicles. The machines are extremely versatile as different modules can be achieved by changing the necessary die. This process has also led to reduced labor requirements as the process can be automated with the help of computers thereby reducing the labor costs. The process helps in reducing scrap wastage as precise amount of raw material is utilized. The production cost incurred in the stamping process is very low and is replacing other metal working processes such as forging and die-casting.
The Global automotive stamping market can be divided into seven geographical locations such as North America, Latin America, Western and Eastern Europe, Asia-Pacific region, Japan, Middle East and Africa. Asia-Pacific market is anticipated to grow steeply in the stamped components, as the automotive sector in China, Japan and India is growing at a rapid pace. In Latin America, Brazil is the strongest automotive stamped components market preceded by Mexico and Argentina, due to improved production and sales of automobiles in these regions. European countries such as U.K. and Germany are also expected to grow in the stamped component market as demand for vehicles in these regions has increased exponentially.
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Automotive Stamping Market: Key Players
Some of the major players which provide the Automotive Industry with Stamping Presses are
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
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On the basis of forming temperature, Automotive Stamping Market can be segmented as:
On the basis of Stamping process, Automotive Stamping Market can be segmented as:
On the basis of the number of stations required, Automotive Stamping Market can be segmented as:
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