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Metal Forming Market Overview - Forecast Market Size, Top Segments And Largest Region
Metal Forming
The Business Research Company's Metal Forming Global Market Report 2023 identifies automotive industry as the major driver for the Metal Forming market's growth in the forecast period. The automotive industry refers to the businesses involved in the manufacture, distribution, retail, and upkeep of automobiles. Metal forming in the automotive industry is used to manufacture a wide range of components and parts such as body and chassis components, engine components, suspension components, and exhaust system components.
the global metal forming market size is expected to grow from $183.58 billion in 2022 to $192.54 billion in 2023 at a compound annual growth rate (CAGR) of 4.88%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global metal forming market size is expected to reach $223.55 billion in 2027 at a CAGR of 3.8%.
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Major competitors in the Metal Forming market are Benteler International AG, Toyota Boshoku Corporation, Magna International Inc., Hirotec Corporation, Tower International, Aisin Corporation.
A key trend in the Metal Forming market includes technological advancement. Major companies operating in the metal forming market are adopting new technologies to sustain their position in the market. For instance, in September 2022, Desktop Metal, a US-based technology company that designs and markets 3D printing systems, introduced Figure G15 to offer a high-quality surface finish in metal sheet forming. Desktop Metal's Figure digital sheet forming (DSF) technology offers high precision with a flexible, incremental forming approach via a patented build box design that lowers force distribution over the sheet during the build.
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The Metal Forming market is segmented -
• By Forming Type: Cold Forming, Hot Forming, Warm Forming
• By Material Type: Steel, Aluminum, Magnesium, Other materials
• By Technique: Roll Forming, Stretch Forming, Stamping, Deep Drawing, Hydroforming, Other Technologies
• By Application: Body in White (BIW), Chassis, Closures, Other Applications
• By End-User: Automotive, Transportation, Industrial Machinery, Construction, Precision Engineering, Other End-users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Metal Forming market.
The Business Research Company's "Global Metal Forming Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Metal Forming Market Include:
1. Executive Summary
2. Metal Forming Market Characteristics
3. Metal Forming Market Trends And Strategies
4. Metal Forming Market - Macro Economic Scenario
5. Metal Forming Market Size And Growth
……
25. Key Mergers And Acquisitions In The Metal Forming Market
26. Top Metal Forming Companies
27. Metal Forming Market Opportunities And Strategies
28. Metal Forming Market, Conclusions And Recommendations
29. Appendix
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