In India, Automotive Stamping body stamping BIW parts will rake in over US$ 2,800 Mn by the end of 2026
According to a latest report published by Future Market Insights, the automotive stamping in India will continue to witness higher participation from abovementioned companies, and joining them would be the JBM Group, Klt Automotive and Tubular Products Limited, and Tata Autocomp Systems Limited. The report, titled “Automotive Stamping Market: India Industry Analysis and Opportunity Assessment, 2016-2026,” estimates that India’s automotive stamping market is presently valued at US$ 3,734.9 Mn. In the due course of ten-year forecast period, the market is projected to soar at 10.8% CAGR and bring in nearly US$ 10,400 Mn by 2026-end.
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The report reveals that throughout the forecast period, non-body automotive stamping will continue to gain traction in India. On the other hand, body stamping is projected to procure a consistent 42% share of overall market value. In 2017 and beyond, the demand for transfer stamping is predicted to gain prominence, while progressive die stamping will keep accounting for over half of the market revenues. Steel is being observed as the widely-preferred raw material for automotive stamping in India. In 2016, more than US$ 2.5 Bn worth of steel was stamped for production of vehicles in India. Likewise, the demand for aluminium in India’s automotive stamping market is also likely to grow. Through 2026, revenues generated from automotive stamping of aluminium materials are anticipated to rise at 11.2% CAGR.
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The report further reveals that passenger cars will be accounting for over one-third of automotive stamping revenues in India throughout the forecast period. In this period, automotive stamping revenues arising from two-wheeler sales will exhibit growth at a 12.2% CAGR. In India, body stamping BIW parts will rake in over US$ 2,800 Mn by the end of 2026. Stamping of chasses, meanwhile, is expected to register a value CAGR of over 12%. When it comes to non-body stamping, India’s automotive stamping market will continue to witness higher revenue outcome from stamping engine parts, transmission & steering parts, and safety equipment & seating systems.
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customised and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.
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