Press release
Automotive Stamping Market | Incredible Possibilities, Growth, Trend, Opportunities Detailed Analysis and Forecast to 2027 | Key Players - Hyundai Rotem, MacRodyne Hydraulic Presses & Automation, Santec Group, Jier North America, Ridgeview Industries
Automotive stamping is a working process in which a metal is converted into the desired shape and structure. This metal working process is adopted in manufacturing industries engaged in processing of hardened surfaces. Some of them are sheet metal and plastic components. Stamping process forms the base of all the building process in the automotive industry. Majority of the components that make up a vehicle is produced by stamping. In addition, the interior structural components and the exterior build components are produced by this process. Therefore, stamping provides structure and leads to the growth of the automotive stamping market in the coming years.
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Covid-19 Scenario Analysis
• Companies have resumed production. However, there is a lack of orders from manufacturers in other regions along with logistics problems.
• More population results in increased demand for products. However, due to COVID-19, there is no transportation and no demand for heavy trucks which has affected the growth of the market.
• COVID-19 pandemic has enforced travel ban and restricted the use of vehicles. They are expected to restart only when the situation becomes stable.
• Original equipment manufacturers (OEMs) have also halted production, which has further decreased the demand for heavy trucks.
• Manufacturing units around the world have been shut down, footfall in showrooms has fallen sharply, and vehicle sales have declined.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
The significant factors that impact the growth of the automotive stamping market are increase in production and sales of vehicles and high growth in export of automobile components. Moreover, pressure on suppliers for cost reduction and complex technology hamper the growth of the automotive stamping market. Furthermore, technological improvements and increase in use of hybrid electromagnetically-supported sheet stamping machines is expected to boost the growth of the automotive stamping market.
Increase in production and sales of vehicles
There is significant growth in automobile production, which results in rise in demand from domestic as well as international consumers. This, in turn, has increased the demand for automotive stamping. Therefore, this leads to the growth of the automotive stamping market during the forecast period.
High growth in export of automobile components
As India is a rampantly emerging automotive components hub for engine and transmission parts, it is expected to increase the demand for automotive stamping in the near future. Moreover, this is anticipated to compel original equipment manufacturers (OEMs) to manage their production capacity by establishing a new process for stamping. This, in turn, is expected to fuel the growth of the automotive stamping market over forecast period.
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Key benefits of the report:
• This study presents the analytical depiction of the market along with current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the automotive stamping market share.
• The current market is analyzed from 2020 to 2027 to highlight the automotive stamping market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the automotive in-wheel motors market research report:
• Which are the leading market players active in the market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?
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