North America Metal Stamping Market Major Manufacturers, Trends, Demand, Share Analysis to 2028

Market Introduction

North America Metal Stamping Market The integration of metal stamping is increasing owing to the demand for economical and light weight equipment, better fuel economy, and better comfort. At present, the automotive industry is experiencing significant incorporation of various advanced technologies in cars to improve the passengers' safety and efficiency. North America Metal Stamping Market The metal stamping market is anticipated to grow at a moderate pace during the forecast period due to growing preference for electric vehicles (EVs), sports utility vehicles, and off-road vehicles. These metal stampings parts help in manufacturing body panels to maintain safety standards and control end-costs.

North America Metal Stamping Market Due to growing investments to set up factories and expand production houses of the automobiles, the demand for passenger vehicles and commercial vehicles is increasing, which, in turn, is anticipated to generate an upward trend in the metal stamping market during 2021-2028. Similarly, the commercial aircraft industry is growing since the past few years. Several operators in this industry are focusing on the development, manufacturing, and rebuilding of airplanes, helicopters, aircraft engines as well as several other components for the commercial sector.

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Market Overview and Dynamics

The North America Metal Stamping Market was valued at US$ 85.27 million in 2020 and is projected to reach US$ 107.35 million by 2028; it is expected to grow at a CAGR of 3.2% from 2021 to 2028. The region is the major producer of metals, such as steel, iron, and aluminum, which are the primary metals used for metal stamping across different sectors. In the US, the metal stamping is characterized under the metal fabrication industry, owing to the presence of huge number of manufacturing sector. North America Metal Stamping Market The metal fabricated products and solutions renovates metal into end or intermediate products.
North America Metal Stamping Market The metal stamping manufacturers operate on metals and metal-formed products that are fabricated in another place and are involved in the processes for re-shaping individual metal pieces by forming, stamping, machining, bending, forging, and joining separate parts with the help of different processes, such as assembling and welding. Further, the rising production of commercial vehicles and heavy trucks is anticipated to surge the growth of the metal stamping market in the region. The presence of well-known vehicle manufacturers, such as Ford, GM, and Chrysler, is one of the major driving factors for the growth of the metal stamping market in the region.

North America Metal Stamping Market Electric vehicles (EVs) have gained significant popularity in North America, especially in the US. Canada has the second-largest count of electric vehicles (EVs) in the region, which escalates year-on-year. The growing population in urban areas is demanding increasing public transportation with the improvement in existing transportation infrastructure. The OEMs in North America are focusing on reducing their carbon footprint, thereby promoting electric vehicles, specifically electric passenger cars. With the growing demand for automobiles, the manufacturers of passenger cars and taxis are focusing on green technologies. Several countries in the region are focused on building green transportation. The governments of North American countries are taking several initiatives by offering tax rebates and incentives to boost electric vehicles' adoption in their public transport-such as e-trucks and e-buses-to reduce CO2 emissions. BYD K9, Mercedes Benz electric truck, and Tata Starbus Hybrid e-buses are a few of the electric vehicle models popular in the region.

North America Metal Stamping Market Further, the emergence of next-generation stamping is gaining traction in the North American metal stamping market. The next-generation metal stamping reduces the cost and time of the process to produce metal and metallic parts. North America Metal Stamping Market It also eliminates the process of designing dies, which are considered one of the costly procedures, and assists in implementing next-generation tooling simulation software to improve the tooling lineups before cutting tools. The manufacturing of automotive parts such as headliners, fenders, side and quarter panels, brake shoes, valves, exhausts, and hangers have augmented the adoption of next-generation metal stamping technologies.

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The List of Companies

ACRO Building Systems (ACRO Metal Stamping)

Clow Stamping Company

D&H Industries, Inc.

Goshen Stamping Company

Kenmode, Inc.

Integrity Manufacturing, Inc.

Manor Tool & Manufacturing Company

Caparo Group

Klesk Metal Stamping Co.

Tempco Manufacturing Company,

Inc North America Metal Stamping Market

North America Metal Stamping Market The constant demand for metal stamping has witnessed a slight decrease in the production in the year 2020, owing to lockdown imposed by the government and low demand from automotive and electronics industries. This has hindered the growth of the metal stamping market last year, as is likely to continue slightly during 2021. North America Metal Stamping Market The COVID-19 has already impacted the sales of electronics equipment and industrial machinery in the first quarter of 2020 and is expected to have a negative impact on the market growth throughout the year, as now the companies are functional with limited workforce and trying to come up with the losses, they faced in the year 2020.

Based on Application:
Automotive: The automotive sector is the largest and most prominent application for metal stamping, accounting for a significant share of the market. Metal stamped parts are critical in vehicle manufacturing, especially for components such as body panels, chassis, structural components, and engine parts. The rise in demand for electric vehicles (EVs) and sports utility vehicles (SUVs) is driving further growth in this segment, as these vehicles require lightweight and durable metal parts.
Aerospace: Aerospace is another key application for metal stamping. Parts such as airframes, engine components, landing gear parts, and interior panels are all produced through metal stamping. The continuous expansion of the aerospace industry, particularly in commercial aviation and defense sectors, is contributing to the demand for high-precision metal stamped parts that meet strict safety and performance standards.

Electronics: The electronics industry heavily relies on metal stamping for the production of small, intricate parts like connectors, switches, and housings. As technology continues to advance, the need for more complex and smaller electronic devices is driving the demand for highly precise stamped metal components. The shift toward smart devices, wearable technologies, and electric components is expected to further accelerate the demand for metal stamping in this sector.

Consumer Goods: Metal stamping is extensively used in the consumer goods sector for manufacturing household appliances, tools, kitchenware, and decorative items. The ability to produce high volumes of parts quickly and cost-effectively makes metal stamping an attractive option for consumer product manufacturers, particularly in the production of metal-based components like refrigerators, washing machines, and cookware.

Industrial Machinery: Industrial machinery often requires precision metal components for assembly and functionality. Metal stamping plays a key role in producing parts such as gears, valves, brackets, and housings, all of which are essential in the construction of machinery and heavy equipment. The growth of the construction and manufacturing sectors is expected to drive further demand for metal stamping in industrial machinery applications.
Others: Other applications of metal stamping include industries like medical equipment, military, telecommunications, and energy. As these industries continue to innovate and expand, the need for custom, high-quality metal stamped parts will grow, presenting further opportunities for the market.

Impact of COVID-19 on the North American Metal Stamping Market
The COVID-19 pandemic had a notable impact on the global manufacturing industry, and the North American metal stamping market was no exception. The imposition of lockdowns, social distancing measures, and restrictions on movement led to a slowdown in production activities in several key sectors, particularly automotive, electronics, and industrial machinery.

In 2020, the demand for metal stamping parts decreased due to lower production volumes in the automotive and electronics industries, which rely heavily on metal components for vehicle parts, consumer electronics, and industrial machinery. The automotive industry, in particular, faced factory closures and reduced consumer demand, leading to a halt in vehicle production for several months. As a result, the metal stamping market saw a decrease in sales during the early stages of the pandemic.

Furthermore, the pandemic led to disruptions in the global supply chain, affecting the availability of raw materials, such as steel and aluminum, which are essential for the metal stamping process. This created challenges for manufacturers in terms of both material costs and production timelines.

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