Global Automotive Metal Forming Market 2020 - Industry Analysis, Size, Share, Strategies and Forecast to 2026
AUTOMOTIVE METAL FORMING MARKET
Global Automotive Metal Forming market expected to reach $125.8 billion by 2026, at a CAGR of 5.1% during the forecast period. Increase in demand for commercial vehicles, government stringent emission norms, and growing vehicle production and trends towards light-weighting will further fuel growth in the market.
Metal forming is the metalworking process of fashioning metal parts and objects through mechanical deformation; the workpiece is reshaped without adding or removing material, and its mass remains unchanged. The multiple processes used in metal forming include rolling, forging, extrusion, wire or rod drawing, and bending. The rise in vehicle production across the globe and an increase in demand for commercial vehicles are likely to drive the market for automotive metal forming during the forecast period (2019-2026).
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Market Dynamics: Drivers, Restraints, Opportunities Challenges
The global Automotive Metal Forming market growth is driven mainly due to technological innovations, including improved forming processes has seen commercial usage over the recent past. Moreover, the capability of manufacturers and lean manufacturing methods to reduce wastage during processes is a crucial factor driving the growth of the global market. This has improved operational efficiency and thereby reduces operating costs. As a result, automotive metal stamping companies are investing significantly in research and development projects.
The market has been witnessing significant development in terms of materials as well as technologies used for manufacturing of vehicle components. Stringent fuel efficiency regulations have facilitated R&D to develop lightweight & cost-effective materials for the automotive sector. Moreover, new technologies, including 3D printing, are being utilized for the manufacturing of large metal parts.
Furthermore, the growing demand for electric vehicles (EVs) globally will further fuel growth in the market. As, EVs are meant to be lightweight; therefore, manufacturers focus on reducing the weight of the vehicle, which ultimately improves car fuel efficiency. According to International Energy Agency (IEA), in 2017, more than one million EVs were sold globally, with countries like Norway, China, and the US dominating the global EVs market in terms of market share. In the same year, globally, more than three million EVs were in stock.
Global Automotive Metal Forming Market, By Technique:
• Roll Forming
• Stretch Forming
Rolling is an important metal forming process. Majority of metal is manufactured by using the rolling process. Rolling is the first process undertaken in manufacturing, wherein the material is placed in between rollers and deformed plastically. Likewise, metal stamping is also an important metal forming process, which involves the usage of various tools to carry out the stamping operation.
Global Automotive Metal Forming Market, By Material:
In steel segment, manufacturers have been conducting extensive research for the development of grades which can reduce car weight equivalent to other metals and also provide cost-effectiveness.
However, Aluminum is the fastest-growing segment in the market. The lightweight of these products has led to an increase in their utilization in the manufacturing of car components, body structure, power train etc. The greater use of high-strength, low weight aluminum provides consumers and automakers with vehicles that are economical, durable, high performing and safe. They also produce fewer emissions and use less fuel or battery power to operate, helping automakers meet stricter federal regulations and saving consumers money.
By geography, the global Automotive Metal Forming Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
In 2018, APAC accounted for the majority share in the global market and was expected to continue to dominate the market during the forecast period. The APAC demand for automobiles is primarily driven by strong private consumption and growing construction industry, which is expected to create greater demand for passenger and commercial vehicles. There is also expected to be continued growth in the demand for automotive components with a pipeline of investments in production facilities such as BMW’s hybrid vehicle battery factory in Thailand and Nissan’s engine and transmission production facility in Indonesia.
In North America and Europe, with continuous technological innovation and improved manufacturing process such as new metal forming techniques like hot forming and hydroforming are making metal-formed components better and stronger and will drive the market in the region.
Global Automotive Metal Forming Market is fragmented with the presence of global and regional players in the market. Intense rivalry among top players in the market has started fierce competition at various levels for setting a low price, driving aggressive marketing strategies, and expanding through M&A activities in order to increase their reach and consumer base.
Major players in the market are AES Automotive, Aisin Seiki, Benteler International AG, CIE Automotive, and Craemer Group. Other key players in the market are VNT Automotive, Hirotec Corporation, Kaizen Metal Forming, Kirchhoff Automotive, and LTC Roll.
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Some points from table of content:
1. Global Automotive Metal Forming Market Methodology and Scope
ket Snippet by Region
2. Global Automotive Metal Forming Market – Market Dynamics
4. Global Automotive Metal Forming Market – By Technique
5. Global Automotive Metal Forming Market – By Application
6. Global Automotive Metal Forming Market – By Material
7. Global Automotive Metal Forming Market – By Vehicle Type
8. Global Automotive Metal Forming Market – By Region
9. Global Automotive Metal Forming Market – Competitive Landscape
10. Company Profiles
10.1. AES Automotive*
10.1.1. Company Overview
10.1.2. Product Portfolio and Description
10.1.3. Key Highlights
10.1.4. Financial Overview
10.2. Aisin Seiki
10.3. Benteler International AG
10.4. CIE Automotive
10.5. Craemer Group
10.6. Hirotec Corporation
10.7. Kaizen Metal Forming
10.8. Kirchhoff Automotive
10.9. LTC Roll
10.10. VNT Automotive
11. Global Automotive Metal Forming Market – Premium Insights
12. Global Automotive Metal Forming Market – DataM
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