The Automotive Metal Stamping Market - Growth, Trends,

2022-05-09 08:52:05 By : Mr. Adam Lin

March 18, 2022 08:59 ET | Source: ReportLinker ReportLinker

New York, March 18, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "The Automotive Metal Stamping Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - The COVID-19 pandemic affected the global automotive industry. Major vehicle manufacturing industries were shut down their production plant during the pandemic which results decline in vehicle production. Major disruption in supply chain is likely to hamper the automotive industry, which in turn is likely to affect the automotive metal stamping market. Rising vehicle production and increase in demand for passenger vehicle across the globe is likely to witness major growth for the automotive metal stamping market. However, growing trend towards engine downsizing in order to enhance fuel efficiency and lighter vehicles, light-weight metals such as aluminum is expected to witness huge demand among automotive metal stamping companies. This is likely to witness significant growth for automotive metal stamping market. Growing technology advacemnet such as, laser metal stamping and hydraulic metal stamping which helps to reduce the manufacturing cost is likely to fuel the automotive metal stamping market. Rapid expansion of manufacturing indusutries is also fuelling the automotive metal stamping market across the globe. Asia-Pacific is dominating the automotive metal stamping market owing to increase in vehicle production across the region. Rapid expansion of small and medium scale manufacturing industries across the region is likely to witness major growth for the market. However, growing use of plastics/composites as metal alternatives is a key factor that would restrain market growth and pose a new threat to the automotive metal stamping market during the forecast period. Key Market Trends Blanking Process is expected to witness faster growth Growing use of metal stamping in automotive industry is witnessing major growth for the market. Blanking process can perform long production runs which require minor changes to the machinery or base material. Major automotive industries prefer blanking process as the process commnly used to produce mass components. The rising demand for efficient vehicles has led to the design of innovative and unique outer body structures, with aerodynamic efficiency in consideration. Blanking metal stamping offers the technology to fabricate metal into smaller and manageable pieces to be more tightly packaged in and around vehicles. Growing partnership between the manufacturer is witnessing major growth for the metal stamping market. For instance, In Sep 2021, Toyota Tsusho and SteelSummit Holdings, a subsidiary of Sumitomo Corp. of Americas, announced a joint venture Madison Metal Processing (MMP), with an investment of USD 40 Million. This company is expected to cater to the steel blank needs of the automotive industry, with a focus on Toyota’s vehicles. In March 2020, Nissan Motor Company, unveiled new machinery required for the existing blanking line at the United Kingdom manufacturing plant. This upgrade was valued at GBP 52 Million as part of the company’s strategy to improve its in-house metal pressing capabilities. Advancements in technology, such as the usage of hybrid electromagnetically supported sheet metal stamping machines, are positively affecting the market. Rise in automation in blanking process in major manufacturing industries is a key factor for blanking process. The automated blanking process is monitored by computers, and the data is available on a central server, which aids the operator in making important decisions in critical situations. In this process, the pressure is crucial.The blank for automotive metal shaping is frequently formed of sheet metal, which can be stamped, cut, or bent into the desired shape for the body of an automobile. North America Experiences Highest Growth North America has major presence of vehicle manufacturer which is likely to enhance the demand for metals like aluminum, steel, and iron, which are the most common metals used in the automotive industry for metal stamping. According to the American Automotive Policy Council, the automotive sector is the largest manufacturing sector in the United States, with production plants of major vehicle manufacturers,including Ford, Chrysler, and General Motors located in the region. These companies are strategically investing in the market to support their future projects. For instance, In November 2021, General Motors announced to invest over USD 46 million at its Parma, Ohio, metal stamping operation to expand equipment upgrades and lay the foundation for the facility to support future product programs United State has major presence of automotive stamping industries, which is witnessing major expansion of industries across the country. For instance, In July 2020, Challenge Manufacturing, a global supplier of automotive structures in Walker, Michigan, had announced the acquisitions of Great Lakes Metal Stamping’s Cusseta, Alabama location. This acquisition allowed the former to expand its footprint in the Southeast. The company has grown over the past four decades to include 3,500 employees in 10 locations in the United States and Asia. The United States is the largest market for automobile metal stamping in North America. While the growth rate of the automotive metal stamping market in Latin America, the Middle East, and Africa is currently low due to lower vehicle consumption and production in these countries, the industry is likely to increase in the next years. Competitive Landscape The automotive metal stamping market has presence of several players, such as Clow Stamping Company., D&H Industries Inc., Shiloh Industries Inc., PDQ Tool & Stamping Co., Magna International Inc., and Integrity Manufacturing. These Companies are expanding their footprints by new innovative technologies, so that they can have edge over their competitors. However, the market is fragmented with several local players operating in the market. In Nov 2021, Magna International partnered with Ford to supply battery enclosures to Ford’s F-150 Lightning, with aluminum extrusions and stampings assembled together. In Oct 2021, Autoneum announced its expansion of aluminum sheet forming technology. The company’s stamped aluminum components prevent electromagnetic interface into electric vehicles and provide cost efficient shielding of batteries. In February 2021, Magna invests USD 70 million through its body and chassis product group for an electric vehicle manufacturing plant that will build complex battery enclosures for the all-new 2022 GMC Hummer EV. In September 2017, D&H Industries purchased 2000 Ton Mechanical Press, which may be used for larger tonnage applications in forming both HSLA steel as well as stainless steel. Additionally, it has an SPM of 12 strokes per minute; and may be updated with the latest in press control technology. Additional Benefits: The market estimate (ME) sheet in Excel format 3 months of analyst support Read the full report: About Reportlinker ReportLinker is an award-winning market research solution. 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