Automotive Sheet Metal Components Market The Rise of Demand Market Analysis and Growth Expectations in 2030 | Larsen Manufacturing, LLC, General Stamping

Automotive sheet metal components are used in manufacturing of body parts, interior, and exterior of vehicles. Sheet metal components include hoods, doors, trunk lids, and other structural and non-structural body parts that are pressed, stamped, or formed from thin metal sheets.

Request a sample copy of the report @https://www.coherentmarketinsights.com/insight/request-sample/822

Market Dynamics:

The automotive sheet metal component market is expected to witness significant growth over the forecast period owing to rising vehicle production across the globe. As per Automotive Industry Association, global vehicle production is estimated to grow over 7% annually during the forecast period. Growing consumer spending on vehicle purchases especially in developing economies of Asia Pacific is expected to drive the demand for sheet metal components during the forecast period. Additionally, shift towards light weighting of vehicles is further expected to support the market growth as sheet metals allow auto manufacturers to build lighter and more fuel efficient vehicles. Sheet metals provide high strength to weight ratio and hence are widely used to manufacture structural body parts of vehicles. However, fluctuations in raw material prices may hamper the market growth over the forecast period.

Automotive Sheet Metal Component Market Drivers

Increasing automotive production creating demand for sheet metal components

With the rise in global economic growth and increasing consumer spending power, the automotive industry has registered steady year on year growth over the past decade. Sheet metal components form a critical part of automotive manufacturing as they are used to make vehicle bodies, roofs, doors, hoods and other exterior panels. As automakers ramp up vehicle production targets to meet rising demand, the requirement for metal pressing dies and stamped sheet metal components also rises proportionately. Some of the major automotive manufacturing nations like China, USA, Germany, Japan have posted strong double digit annual growth rates in vehicle output which has directly boosted demand in the automotive sheet metal component market.

Key Company Profiles:

Larsen Manufacturing, LLC, General Stamping and Metal Works, Aleris International, Inc., Mayville Engineering Company, Inc., Paul Craemer GmbH, O'Neal Manufacturing Services, Omax Autos Ltd., Novelis, Inc., and Frank Dudley Ltd.

Market segmentation:

On the basis of material, the global automotive sheet metal components market is classified as
Aluminum
Steel
Others

On the basis of application, the global automotive sheet metal components market is classified as
Interior
Drivetrain
Engine
Exterior
Chassis

Regional Analysis:

●North America (U.S., Canada)
● Europe (U.K., Italy, Germany, France, Rest of EU)
● Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
● Latin America (Chile, Brazil, Argentina, Rest of Latin America)
● Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Request for Report Customization @https://www.coherentmarketinsights.com/insight/request-customization/822

Stringent fuel efficiency and emission norms driving greater use of light weight materials

With growing environmental awareness and push for sustainable mobility, regulatory authorities worldwide have implemented increasingly stringent Corporate Average Fuel Economy (CAFE) standards and emission norms for vehicular fleet. This has compelled automakers to focus on lightweight vehicle design and use of advanced high strength steel and aluminum alloys in automotive body structures. Sheet metal components fabricated using these light yet strong materials help automakers comply with regulatory compliance while achieving performance and mileage targets. The need to reduce vehicle curb weight without compromising on strength and passenger safety has spurred innovation and R&D in automotive sheet metal forming technologies, benefitting industry players.

Automotive Sheet Metal Component Market Restrain

Volatility in raw material prices poses challenges for component manufacturers

Steel and aluminum are the primary raw materials used in automotive sheet metal component manufacturing. However, international commodity markets for these base metals have witnessed fluctuating price trends in recent years due to various macroeconomic and geopolitical factors. Changes in global supply-demand dynamics, trade tariffs, currency fluctuations and speculation trading often cause volatility in raw material input costs. This makes forward planning difficult for sheet metal pressing companies and margins can get squeezed if they are unable to pass on high procurement expenses to automaker customers. Price volatility in sheet metal commodities continues to act as a key restraint for stable growth of this market.

Automotive Sheet Metal Component Market Opportunity

Advent of 3D printing offers opportunity for just-in-time customized components

3D printing technology has found increasing acceptance in automotive prototyping and low volume production in recent years. The ability of additive manufacturing techniques like laser powder bed fusion and binder jetting to fabricate highly customized metallic components on-demand without tooling presents a promising opportunity for automotive sheet metal suppliers. This facilitates producing small batch size or one-off components in a cost effective and timely manner. The technology also opens up opportunities for on-site or distributed manufacturing with digital inventory and just-in-time delivery models. Leading press shops are exploring tie-ups with 3D printing service providers and investing in their own metal additive capabilities to leverage the technology for customized niche applications in automobile manufacturing.

Automotive Sheet Metal Component Market Trends

Growing emphasis on lightweight multi-material body designs

A major trend gaining traction in the global automotive industry is the integration of multiple lightweight materials like aluminum, magnesium, composite plastics and high strength steel grades in vehicle body structures. This helps optimize material usage in different load bearing areas and achieve targeted weight savings. Sheet metal components manufacturers are focusing on developing joining technologies like laser welding, adhesive bonding and riveting to seamlessly integrate dissimilar materials. They are also incorporating design optimization using simulation tools during component prototyping to minimize mass. The use of tailored blanks or tailored rolled blanks combining varied sheet thicknesses is another evolving trend beneficial for multi-material automotive body fabrication.

Key Questions in This Report:

How big is the world market for Automotive Sheet Metal Components Market right now?

What is the anticipated rate of growth for the Automotive Sheet Metal Components Market worldwide between 2023 and 2030?

What are the primary elements propelling the Automotive Sheet Metal Components industry worldwide?

Which are the main kinds of Automotive Sheet Metal Components Market and how are they used?

Which areas are the main Automotive Sheet Metal Components Market?

Which companies/major players dominate the global Automotive Sheet Metal Components Market?

Buy Now @ https://www.coherentmarketinsights.com/insight/buy-now/822

533 Airport Boulevard, Suite 400, Burlingame,
CA 94010, United States
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com

About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.