Future Market Insights study indicates that the global automotive stamping market will grow from USD 11,014.5 million in 2023 to USD 18,460.7 million by 2033. The industry is expected to grow at a CAGR of 5.3% from 2023 to 2033.
Asia-Pacific is currently leading the automotive metal stamping industry, driven by a surge in vehicle production and the rapid expansion of small- and medium-sized manufacturing sectors in the region. This trend is expected to significantly boost market growth.
However, the market faces challenges from the increasing use of plastics and composites as alternatives to metal, which could impede growth and present new hurdles for the automotive metal stamping industry.
On the other hand, regulatory efforts to enhance working conditions, improve safety standards, manage waste, and optimize materials are anticipated to support market expansion throughout the forecast period. Nonetheless, the high cost of maintaining the machinery used in metal stamping remains a key obstacle to market growth.
Key Takeaways:
- By 2033, the automotive stamping market in the United Kingdom is likely to expand, with a CAGR of 4.7%.
- In 2023, the United States is expected to develop the automotive stamping business with a share of 14.7%.
- The automotive stamping market grew considerably to USD 10,490 million in 2022.
- The automotive stamping sector expanded at a CAGR of 5% from 2018 to 2022.
- By 2033, China’s automotive stamping market is projected to develop with a CAGR of 5.7%.
- By 2033, India’s automotive stamping industry is projected to develop with a CAGR of 6.2%.
- Japan’s automotive stamping industry is expected to expand significantly, with an 8.7% share in 2023.
- Australia’s automotive stamping sector is expected to expand, with a share of 4.5% in 2023.
- Germany’s automotive stamping sector is expected to expand, with a share of 13.8% in 2023.
- In 2023, the cold stamping segment is likely to dominate the market, with a share of 59.2%, based on foaming temperature.
Competitors Winning Strategies:
As the dies are used repeatedly to produce components with constant shapes and sizes that need close tolerances and requirements, automotive manufacturers typically use metal stamping to manufacture parts like hubcaps and fenders.
The market is anticipated to increase for certain reasons, including manufacturers’ ability to machine products and lean manufacturing techniques to eliminate waste during operations.
Key Players in the Industry:
- Schuler Group
- AIDA Global
- Orchid International
- Eagle Press & Equipment Co. Ltd.
- Hyundai Rotem
- MacRodyne Hydraulic Presses & Automation
- Santec Group
- Jier North America
- Ridgeview Industries
- Bliss-Bret Industries
Recent Development:
- In July 2022, Schuler unveiled Visual Quality Inspection, a newly developed camera-based technology that automatically identifies defective components, corrects manufacturing problems immediately, prevents lengthy delays, and enhances customer relationships over time.
- In November 2021, Magna International and Ford teamed up to provide battery enclosures made of aluminum extrusions and stampings for Ford’s F-150 Lightning.
- Autoneum declared its expansion of aluminum sheet forming technology in October 2021. The company’s stamped aluminum components cover batteries effectively and cheaply while preventing electromagnetic interface in electric cars.
- Challenge Manufacturing, a Walker, Michigan-based provider of automotive structures, announced in July 2020 that it acquired the Cusseta, Alabama, Great Lakes Metal Stamping facility.
Key Segmentations
By Foaming Temperature:
- Hot Stamping
- Cold Stamping
By Stamping Process:
- Mechanical Process
- Hydraulic Process
- Pneumatic Process
By Number of Stations Required:
- Single Tool Station
- Progressive Stations
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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