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Stamped Metal Market Report 2024-2033 - Size, Growth, Trends & Forecast
Stamped Metal Market Report
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According to The Business Research Company's, The stamped metal market size has grown strongly in recent years. It will grow from $464.27 billion in 2023 to $498.39 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to industrialization and manufacturing growth, automotive industry expansion, advancements in stamping technology, world wars and defense needs, urbanization and construction.
The stamped metal market size is expected to see strong growth in the next few years. It will grow to $644.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to sustainability and eco-friendliness, electric vehicle (ev) revolution, 5g and electronics, renewable energy infrastructure, aerospace innovation. Major trends in the forecast period include customization and design flexibility, advanced materials and alloys, automation and robotics, digitalization and industry 4.0, reshoring and supply chain resilience.
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Market Drivers and Trends:
An increase in demand for metal components in the aviation industry is projected to drive the stamped metal market. Aerospace manufacturers use stamped metal to meet the needs of many specifications. This technique allows manufacturers to create high-quality precision components that can comply with strict requirements. For example, Wiegel Tool Works has been a trusted manufacturer of metal stamped components for over 77 years for OEM and tier manufacturers in the aerospace industry.
Automation in the stamped metal industry is a key trend driving the growth of the stamped metal market. Automation in the stamped metal industry increases production at lower rates by using advanced technology such as laser cutting, which allows extremely high accuracy and improved output speed. The use of robotics or automated systems for repeat activities decreases the necessary manpower in the stamped metal industry as the robots can perform a number of processes, such as bending and cutting. North America is expected to grow further in the automation of the stamped metal industry in 2022 due to the existence of major players such as Kenmode Precision Metal and Wisconsin Metal Parts in the region.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Alcoa Corporation, Manor Tool & Manufacturing Company, Acro Stamped Metal Products Inc., Kenmode Precision Metal Stamping, Clow Stamping Company, Aro Metal Stamping Company Inc., D&H Industries Inc., Lindy Manufacturing Co., American Axle & Manufacturing Holdings Inc., Nelson-Miller Inc., Thyssenkrupp AG, Martinrea International Inc., Wisconsin Metal Parts Inc., Shiloh Industries Inc., Klesk Stamped Metal Inc., CIE Automotive S.A., Magna International Inc., Gestamp Automoción S.A., HTT Inc., Brandauer Holdings Limited, Harvey Vogel Manufacturing Co., Trans-Matic Manufacturing Company Inc., ODM Tool & Manufacturing Co. Inc., Tempco Manufacturing Company Inc., Ramcel Engineering Company, Stamped Products Inc., Acro Metal Stamping Co., Atlas Stamping and Manufacturing Co. Inc., Lake Air Companies
Stamped Metal Market 2024 Key Insights:
• The stamped metal market size is expected to see strong growth in the next few years. It will grow to $644.83 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Elevated Demand For Stamped Metal In Aerospace Manufacturing To Drive Market Growth
• Automation Revolutionizing The Stamped Metal Market
• Asia-Pacific was the largest region in the stamped metal market in 2023
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