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Automotive Metal Forming Market Insights| Key Players: Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), Aisin Seiki (Japan).

08-04-2020 09:22 AM CET | Associations & Organizations

Press release from: MarketsandMarkets

Automotive Metal Forming Market Insights| Key Players: Magna

According to the new market research report "Metal Forming Market for Automotive by Technique (Roll, Stretch, Stamping, Deep Drawing, Hydroforming), Type (Hot, Warm and Cold), Application (BIW, Chassis, Closure), Material (Steel, Aluminum, Magnesium), Vehicle (ICE & Electric) - Global Forecast to 2025", Published by MarketsandMarkets™, The metal forming market for automotive is expected to grow at a CAGR of 3.2%, by value, during the forecast period. The market is estimated to be USD 172.5 billion in 2020 and is projected to reach USD 202.2 billion by 2025.

The driving factors for the metal forming market for automotive are gradually increasing vehicle production across the globe (particularly in Asia Oceania) and the increasing trend of vehicle lightweighting due to stringent emission norms.

Browse in-depth TOC on "Metal Forming Market"
145 – Tables
71 – Figures
215 – Pages

The metal forming market for automotive is dominated by manufacturers such as Magna (Canada), Benteler (Germany), Tower International (UK), Toyota Boshoku (Japan), and Aisin Seiki (Japan).

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“By vehicle type, passenger car is expected to hold the largest share of the metal forming market for automotive”

According to the Organisation Internationale des Constructeurs d’Automobiles (OICA), passenger cars accounted for 61.2% of the overall vehicle production in 2017. In 2017, according to OICA, the passenger car production in the Asia Oceania region was approximately 44.96 million units in 2019. Passenger cars have the highest application of formed components, more than that for light and heavy commercial vehicles. Owing to the increasing passenger car production, especially in the Asia Oceania region, and high applications of metal forming, the passenger car segment is projected to share of the metal forming market, by vehicle type.

“Aluminum is expected to show the fastest growth over the forecast period, by material type”

The contribution of aluminum to the overall vehicle weight has grown substantially over the years. According to the ACC, the contribution of aluminum has increased from 7.8% of the total vehicle weight in 2005 to about 9.0% in 2012, and approximately 12.5% in 2019 for lightweight vehicles in North America. Several automotive components are manufactured using aluminum. These include cross-car beam, front door, oil pan, rear door frame, and seat frame. Aluminum is rapidly replacing steel in many automotive applications like the body in white and chassis. Its usage rate (%) for forming applications is higher in Europe and North America when compared with that in Asia Oceania. However, even with the low usage rate, Asia Oceania is the largest market for aluminum, owing to its huge vehicle production.

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“Asia Oceania is estimated to be the largest metal forming market for automotive over the forecast period”

China, India, Japan, South Korea, and others are considered under the Asia Oceania region for this study. China is the largest contributor in terms of vehicle production in the Asia Oceania region. Out of total vehicle production, China contributed approximately 24.9% in 2019. Japan is the second-largest vehicle producing country which contributes approximately 8.4% to global vehicle production. In addition to high vehicle production, factors such as increasing GDP, rising per capita income, low production costs, availability of economic labor, and government initiatives for FDI have created growth opportunities for the OEMs and tier 1 players of the metal forming market in the Asia Oceania region. Even the presence of the tier 1 players such as Aisin Seiki (Japan), Hirotec (Japan), and Toyota Boshoku (Japan) is driving the Asia Oceania metal forming market for automotive.

View Full TOC @ https://www.marketsandmarkets.com/Market-Reports/metal-forming-market-117844713.html

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/metal-forming-market.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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