COVID-19 Impact on Metal Stamping Market 2020 | Acro Metal Stamping, American Axle & Manufacturing, American Industrial Company, Arconic Corporation, Aro Metal Stamping Company Inc., Caparo Engineering India Limited, and Many More....

The global metal stamping market grew at a CAGR of around 3% during 2014-2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

Metal stamping refers to the process of transforming flat metal sheets into different shapes. It generally includes blanking, bending, embossing, coining and flanging of the metal. It is extensively utilized in the automotive, construction, electronics, and aerospace and defense industries as they require a fast and cost-effective solution for producing a large quantity of metal pressed components.

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Metal Stamping Market Trends:

The boosting sales of consumer electronics, along with the increasing demand for electric vehicles (EVs), represent one of the key factors driving the global metal stamping market growth. Other than this, the growing preference for 3D printing and additive manufacturing over conventional casting and machining methods is positively influencing the demand for metal stamping around the world. Furthermore, several leading manufacturers are investing in research and development (R&D) projects to develop advanced metal stamping technology for agricultural equipment.

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Metal Stamping Market Segmentation:

Market Breakup by Material

Steel
Aluminum
Copper
Others

Market Breakup by Press Type

Mechanical Press
Hydraulic Press
Servo Press

Market Breakup by Process

Blanking
Embossing
Bending
Coining
Deep Drawing
Flanging
Others

Market Breakup by Application

Automotive
Industrial Machinery
Consumer Electronics
Aerospace
Electrical and Electronics
Medical Industry
Defense
Telecommunications
Others

Market Breakup by Region

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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This release was published on openPR.