Metal Stamping Market Size, Trends, Scope and Growth Analysis to 2031 – The Daily Vale
the global metal stamping market the size should go from 195.23 billion USD in 2020 for $247.62 billion by 2027, at a CAGR of 3.42% from 2021 to 2027. Metal stamping is considered to be a manufacturing process primarily performed to convert flat sheets into specific shapes. It is a complicated process that can include several metal forming techniques: cutting, embossing, bending, coining, deep drawing and flanging.
The growth of the global consumer electronics industry is estimated to drive the demand for the application of metal frames in headphones, mobile phones, gamepads, speakers, and controllers. According to the GSM Association, the global number of unique mobile subscribers is expected to reach 6 billion by 2025, up from more than 5 billion in 2017, which is expected to propel mobile phone demand and possibly metal stamping over the course of the year. forecast period.
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The United States is among the major players in the metal stamping industry. However, the emergence of COVID-19 and the ensuing temporary lockdown measures in the country have had a significant impact on industry operations. Downstream demand from key sectors including automotive, aerospace, industrial machinery and others has been largely disrupted due to supply chain challenges and dried up demand from end customers. The situation is expected to normalize by the end of 2021 or 2022 depending on the vaccination rate and control measures to limit new variants of the coronavirus in the country.
In April 2018, an American auto component manufacturer named American Axle and Manufacturing and a Chinese manufacturer Liuzhou Wuling Automobile Industry Co. Ltd. established a joint venture “Liuzhou AAM Automotive Driveline System Co. Ltd”. China to produce rear axles and drive heads. The joint venture aimed to meet the growing demand for vans, minivans and sport utility vehicles in the country. The growing production of automotive components is expected to propel the growth of the market.
Global Metal Stamping Market Dynamics
Drivers: Rising investment by major vendors in emerging economies is supporting market growth
The global metal stamping market is witnessing huge opportunity in emerging economies like China, India, Mexico, Brazil, Argentina, and South Africa owing to rapid growth of various end-user industries such as automotive, aerospace and aviation, consumer electronics, electrical and other electronics, industrial machinery, telecommunications and medical devices in recent years. Citing the growth and future demand for metal components from these industries, many suppliers of metal stamping equipment and services are strategically investing in these countries for the expansion and construction of new metal stamping facilities; for example, in April 2018, Weiss-Aug Co. Inc. started operations in Nuevo Leon, Mexico with the addition of two 22-ton high-speed Bruderer presses to increase metal stamping capabilities. Additionally, in February 2017, Gestamp invested USD 38.67 million to build a new hot stamping plant in Pune, India. This was an effort by the company to meet the growing demand for metal stamping with a preference for safer and lighter vehicles.
Opportunities: Next-generation metal stamping attracts attention!
The emergence of next-generation stamping is gaining momentum in the global metal stamping market. Next-generation metal stamping reduces the time and cost needed to produce metal and metal parts. It has eliminated the die design process which is an expensive procedure. He helped implement next-generation tooling simulation software to improve tooling schedules before cutting tools. Automotive parts such as fenders, headliners, side and side panels, exhausts, brake shoes, valves and brackets have increased the adoption of next generation metal stamping technologies in the market . Moreover, this technology is also successful in attracting investors; in November 2017, Toyotetsu Canada (auto parts manufacturer) received nearly $1.2 million in grants from the Government of Ontario through the Southwestern Ontario Development Fund (SWODF).
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The global study categorizes the metal stamping market on the basis of process, material, type of press, application, and region at regional and global levels.
By Process (Revenue, USD Million, 2017-2027)
- Deep drawing
By Material (Revenue, USD Million, 2017-2027)
By Type of Press (Revenue, USD Million, 2017-2027)
- mechanical press
- Hydraulic press
- Servo press
By Application (Revenue, USD Million, 2017-2027)
- Industrial machinery
- Consumer electronics
- Aeronautics and Aeronautics
- Electrical appliances and other electronic devices
- Medical industry
By Region (Revenue, USD Million, 2017-2027)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
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Automotive Application of Metal Stamping Market Expected to Hold Largest Share
The automotive application segment held the major revenue share of more than 37% in 2020. The automotive industry mainly includes passenger cars, light trucks, commercial vehicles (LCVs), coaches and buses, which use parts metal stamping in the manufacture of body panels to control end costs and maintain safety standards. According to the International Organization of Motor Vehicle Manufacturers (OICA), global manufacturing of heavy-duty trucks and light-duty vehicles increased by 5.9% and 3.5%, respectively, from 2017 to 2018. The increase in automotive production is expected to drive the growth of the market for automotive applications in the coming years.
Although in the aerospace industry, metal stamping is successful in producing aircraft parts such as frames and channels to achieve ultralight aircraft with lower fuel consumption. Metal stamping used in the manufacture of aircraft parts offers durability and is a cost-effective method, which is further expected to boost its demand globally. Also, growing production of commercial and fighter jets is expected to drive the market over the forecast period.
The Asia-Pacific region is estimated to witness the fastest growth during the forecast period in the metal stamping market.
The global metal stamping market has been segmented into North America, Europe, South America, Asia-Pacific, Middle East & Africa based on regions. In 2020, Asia-Pacific accounted for the largest market share in revenue of over 36%. This is due to the increasing demand for cars and consumer electronics in the domestic market and is expected to witness the highest growth rate during the forecast period. Growth is mainly driven by developing economies such as China, India, Vietnam, Malaysia, Bangladesh, Indonesia and Pakistan, where rising demand for phones and other consumer electronics is expected. increase the growth of the overall metal stamping market.
Rising industrialization combined with infrastructure development and the growth of the domestic defense industry is expected to fuel the demand for machinery and related equipment in the region. Countries like India and China are increasing their investments in the defense sector. For example, China increased its defense budget by 7.5% in 2019 to upgrade defense equipment and launch advanced defense aircraft and related equipment. Growing demand for defense equipment is expected to drive the growth of the metal stamping market in the coming years.
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Main market players
The metal stamping market is slightly concentrated with few global players operating in the market such as Acro Metal Stamping, Manor Tool & Manufacturing Company, D&H Industries, Inc., Kenmode, Inc., Klesk Metal Stamping Co , Clow Stamping Company, Goshen Stamping Company, Tempco Manufacturing Company, Inc, Interplex Holdings Pte. Ltd., CAPARO, Nissan Motor Co., Ltd, AAPICO Hitech Public Company Limited, Gestamp and Ford Motor Company, among others. These players have focused on various winning strategies to gain higher shares or retain leading market positions.