Automotive Metal Stamping Market to Record Sturdy Growth by 2024

Automotive metal stamping is a method of processing sheet metals and converting the same into various shapes and sizes as per the specific requirement and application in automobiles. Metal stamping of sheet metals includes five major processes such as blanking, embossing, bending, coining and flanging among others. In blanking process, a piece of the sheet metal is cut into a blank or number of blanks. Embossing involves the work of stretching the materials into shallow depressions in order to add various decorative patterns.

Increasing production of vehicles and rising demand for passenger vehicles is a major driving factor for the automotive metal stamping market. In addition, rising trend of engine downsizing in order to have better fuel efficient and lighter vehicles, light-weight metals such as aluminum is expected to be of huge demand among automotive metal stamping manufacturers in the coming years. Moreover, growth in the automotive sector and rising investments in automotive metal stamping manufacturing companies across the world is set to influence the market significantly during the forecast period.

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The automotive metal stamping market can be classified by process, by application and by geography. The process segment can be classified blanking, embossing, bending, coining, flanging and others. By application, the market can be segregated as passenger vehicles, light commercial vehicles and heavy commercial vehicles. By geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

In the automotive metal stamping market, Asia Pacific holds the largest market share in terms of revenue followed by Europe, North America, Latin America and, Middle East and Africa (MEA). China is the largest automotive metal stamping market in the Asia Pacific region for which Asia Pacific is the dominant market of automotive metal stamping market in the world.

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This is so because China is the largest producer of metals such as aluminum, steel and iron, which are the major metals used for metal stamping in the automotive sector. In addition, China is the largest manufacturer of automobiles and therefore, metal stamping finds immense application in automobile manufacturing companies of China. In Europe, Germany is the most significant market and the largest contributor to the automotive metal stamping market in the region because of the presence of major automobile manufacturers in Germany.

In North America, the U.S. is the largest market for automotive metal stamping. The U.S. is the second largest manufacturer of automobiles in the world. The growth rate of automotive metal stamping market in Latin America, and Middle East and Africa is low considering the less usage and production of vehicles in the aforementioned regions. However, with the growth in the automotive sector and investments in automobile companies of Latin America and Middle East and Africa, the market for automotive metal stamping is expected to improve in the coming years.

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The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before. Key players in the global automotive metal stamping market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: Alcoa Inc., Acro, Manor Tool & Manufacturing Company, Lindy Manufacturing, American Industrial Company, Precision Metal Stamping, Wisconsin Metal Parts, Inc., Clow Stamping Co., Aro Metal Stamping Co., Tempco Manufacturing, Interplex Industries Inc., Goshen Stamping Co., Inc., Martinrea International and Shiloh Industries, Inc. among others.

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This release was published on openPR.